beebe44 - 7/11/2018 23:58

I see a lot of farmers make the mistake of thinking of machinery as an asset. I spend as little money on equipment as possible. I see the way some of my friends and neighbors waste money on equipment and it just pains me to see it. Swear I have saved many hundreds of thousands of dollars over the average farmer by getting the right equipment for the right price. I always pay cash, and then I care for it well and hold on to it for as long as possible. Mchinery is a liability. I try my best to make it as small of a liability as possible. That doesn't mean you shouldn't upgrade though. Sometimes a cheap but unreliable piece of equipment is more of a liability than a more expensive machine. With that said, I did decide to upgrade both a combine and a large tractor a year ago and it was money well spent. I probably won't upgrade either machine again for at least 10 years.