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southern MN | When I was in school they encouraged 2 things in the farm ecconomy classes.
How to figure out 100 year loans as well as intrest only loans.
And how to figure break-even costs on farming. As a goal.
I found those things very unsettling, and a strange way to want to try to run a business? Also found ag went to heck in a handbasket not too many years later....... Took decades for most to recover.....
While I don't listen to Dave R very much, the little I have he makes sense to me & I think I farm in a way he would approve? He doesn't say no debt - but one needs responsible debt, and less is often better if you are in a comfortable situation? Where one is at in life of cousre makes a big difference - young person has to borrow from somewhere to get long-term assets, no-brainer on that. And so forth.
Doesn't mean my way is the only way, or the 'right' way!
(Your tag-line says a lot on the topic, really......)
--->Paul
Edited by paul the original 3/28/2011 01:35
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Rich dad poor dad or dave ramsey?
