Buying a cow. Any words of wisdom?
4 years ago
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I need cabbage wisdom
Comments (4)I grow cabbage almost every year and usually make sauerkraut. I can recommend Copenhagen Market. It makes beautiful big round heads that are sweet and succulent. My climate in NE OK is about the same as yours. I don't generally find that things that do well in southern OK do as well in northern OK. I start with seed, planted indoors. I set them out in the garden as soon as the worst of winter is over, after a brief hardening off period, almost always around March 1. Best to cover with row cover if you can, to keep the moth that lays worm eggs off them. Last year I interplanted with beets and potatoes and had very good harvests of everything except the potatoes, and that may have been because I also had some volunteer sunflowers and I learned later sunflowers and potatoes don't get along. Sorry I didn't answer sooner, I haven't been checking the forum for awhile. I've checked the box to get replies so if you have any questions, I'd be glad to answer if I know what the answer is. Hugs, Ilene...See MoreSeek 'Wisdom of Crowds' re CD Rates
Comments (26)If you figure that you're going to need that CDIC back-up, better put your money into a small bank, for several banks have failed and I think that quite a few feel that if a fair-sized bank goes broke, the CDIC till will be bare. Being a gov't. agency, there'd likely be back-up, but that would cause substantial delay, quite likely ... and incur more debt for the U.S. gov't., which has taken on far too much, now. As most of that debt is held abroad, they'll have to start paying higher rates in order to entice lenders to buy their debt instruments ... and have been printing money, with the likelihood that they'll be printing a whole lot more, soon. These mortgage-initiating rascals in recent years sure make a bank robber carrying his loot in a pillowcase look like pretty small potatoes. I remember as a kid, when I learned to ride a bicycle down our country road, wishing that the gravel on the road would become gold ... but it didn't take me long to realize that if it were gold for me, it would be for everyone else, as well ... and that soon it would take more than a pocketful of gold to buy a loaf of bread. How long has it been since the U.S. Dollar was backed by gold? Or silver? Our Dollar - same game. And - when your economy gets a cold ... ours gets pneumonia. What's the expected time-frame when you'll need to use those assets? Almost 10 years ago, when I was 70, I called a financial planner on a phone-in radio show to say that I felt that I should plan to fund my life to age 100, which was six blocks of five years each. Fortunately, I was able to live on somewhat less than my three pensions, and expected to be able to do so for some time - now, 10 years later, same story. But it seemed to me that were I to need some of the assets to live on, I should not eat up all of the first block in the first five years, for it would no longer be there to earn some income for my future needs. In fact, I thought that I should try to avoid using any more than that first block of the six in the first 10 years ... especially considerig that inflation would cause me to need more dollars to live the same lifestyle, a few years down the road. You know - that "inflation" that has shrunk the value of each one of our dollars-in-hand in every year since the late 1930s. And money in the bank is like money-in-hand: each dollar of the principal doesn't grow (but it sure does shrink). Which means that I would not plan to use up 83% of my asset during that first 10 year period, and that a number of financial advisors feel that purchasing stocks for more than a 10-year time horizon makes sense. He said that my plan made a lot of sense, in his view. Short-term, if we fear losing capital, we need to invest in guaranteed dollars ... but long-term, those guaranteed dollar investments, after paying tax, and adding some to principal in order to maintain purchasing power, leave little for the investor. If anything. Now, at 80, I carry about 80% of my assets in equity-based investments. That would make many people have a hairy ... but I feel comfortable with it. Yes, I have some losses, but I have some gains, as well ... and the tax structure here encourages holding equities. A single taxpayer with no income but dividends on Canadian stocks can earn over $46,000. before being required to pay ONE CENT of income tax (and having a low-income spouse with transferrable credits, or gifts to charity or a political campaign, or eligible medical/dental bills over 4.5% [in that case - 3% ordinarily] of net income will push that $46,000.+ tax-free income level even higher). Some time ago, I wrote a thread either here or on "Money Saving Tips", I think, asking which ordinary person gained from inflation, and who loses. When you put your money in the bank, say $10,000., 15 years ago, they guaranteed to pay you back every dollar, in addition to the rent on the money. There's another guarantee, that they never mention - they won't pay you one dollar more, either. And the value of each of those dollars has shrunk, in every one of those 15 years ... as it has every year since the 1930s. That $10,000. would have bought a nice car, 15 years ago ... not now. I figured a while ago, when I could borrow at 6.25%, that most of the time I could come close to breaking even on such a loan, using it to purchase quality stocks. So ... now, when I can borrow for 4.75%, breaking even should be an even greater probability, no? If I'd borrowed your $10,000. from the bank, 15 years ago and paid only the interest in the years since (which I would never recommend, on a consumer loan) .................................................................................................................................................... ................................... when I go into the bank to pay off the loan, now, how much will I need to pay? Yes - $10,000. Which they will give to you, to pay off your CD, if you ask. I gained from inflation, because I paid off the loan in depreciated dollars - you lost, since each of those dollars would buy less than when you loaned it out to the bank, 15 years ago. The only value that your money would ever produce, relative to each of those years, was made right then ... and it was taxed - then ... and, in Canada, it's taxed at top marginal rate. When I used those borrowed dollars to buy quality (retirement type) stocks, and since I came close to breaking even each year on the loan that I made, on average, over the last fifteen years, my investment in stocks grew quite a lot, so now, when I sell them, after paying off the loan, I have quite a lot of money left in my pocket. Which asset was built with your money, not mine. Granted - if the stocks went down in value - I had to find the money somewhere else to pay back to the bank. But, as you know ... they didn't. And, over a time horizon of 10 years or so, they haven't. And a bonus for me - as the value of those quality stocks went up ... so did the annual rate of dividends that they paid. When I bought shares in a Canadian bank 41 years ago for $4.20 or so (also referred to below), they produced annual dividends of about a dime or 12 cents per year: now they pay $3.48. As the number of dollars in a CD doesn't change over the years ... the amount of interest that they produce doesn't change much, either. But - my investment in shares of a Canadian bank have gone from $106. in May, 2007 to just over $62.00 now ... why? They put substantial amounts into those sub-prime U.S. mortgages ... and that "asset-backed commercial paper" ("acid-backed commercial paper"??) that some of the U.S. financial scoundrels were peddling. That now the U.S. government, which can't afford to, is going to partially bail them out of. As some say - socialism for the rich ... private enterprise for the low-level guys who get stuck with the bill ......................... when the rich guys pull a big-time goof (but the rich guys get to keep their previously ill-gotten loot). Remember the savings and loan fiasco of, what, 20 years or so ago? Have you given thought to how much it has cost for the Mccain-Obama campaign over the past couple of years? Where do you figure that money came from? Apart from the costs associated with running for Congress or the Senate, etc. Good wishes for increasing skill in managing your income ... and your assets. ole joyful...See MoreWhen planning a kitchen - words of wisdom
Comments (53)One piece of wisdom I would like to add for those who are building a house, completely gutting a first floor, or adding an addition... Design the entire area together as one piece. Don't wait too long to plan the Kitchen...including the layout. (Door styles, etc. can wait 'til later, layout cannot.) You really should be planning the entire first floor (or addition) at once along with the Kitchen layout so you won't end up w/a Kitchen area that's difficult to make work properly. I've seen so many people who are building, etc. who just draw in a quick area and say, "that'll be the kitchen...details later." Then, when later comes, it's difficult to fit the kitchen they want in the space they've allocated for it. We've seen many posts where people say...our kitchen will be here w/these dimensions...but what I want won't fit, so how do I make it work??? (Or they go into denial and say, "It will be OK with these narrow aisles or dysfunctional layout.") They usually tell us they've either finalized all windows/doors/walls or that they've already installed/built those windows/doors/walls so nothing can be changed...and then want us to come up with some "miracle" layout that will still allow them to have what they want. The placement of those windows/doors/walls is important to all rooms, but especially the Kitchen, so do it all together. People forget that in many respects, the Kitchen is the most important room in the house. So don't treat it like it's the least important by putting it off until later & "making do" with what you're stuck with! Plan it up-front! (If we ever build again, the Kitchen layout will be one of the first things planned...not the last!)...See MoreHoly Cow, People on Here Buy Expensive Furniture and Accessories!
Comments (138)Outliers is an interesting book. The notion that "luck, coincidence and effort/hard work are generally all required to successful" at least looks at the mix that fate, destiny and the sweat of the brow play in most lives. But I would go a little further & still broaden the concept of "success" to include so much more than career or financial achievement. I think it is a big mistake (that our culture at large makes all the time) to automatically assume that a well-to-do person, or someone with a lofty title, is "successful" at life. They may be, of course, but they may also be full of anger, selfishness, & greed. They may have struggled & strived the joy out of their lives. They may never be satisfied. That is not success in my view. I do believe that life has plans for all of us. As I stated in another post, if we are attached to an image of our lives looking a certain way, we will suffer if life doesn't comply. That can happen at any income level. or..."Life is what's happening when we're making other plans," as John Lennon reminded us. I don't think being wealthy is in the cards for us all, no matter how hard we work. That's not the life every person is meant to lead. But that's not such sad or bad news either! People who have given energy & attention to what is real & capable of providing true happiness (connections, creativity, learning, growth, service, loving) are the most successful, in my view! Money may or may not stem from their endeavors. Either way, what could be more wonderful or more a marker of success, than when people truly enjoy what they are doing, find meaning through it, and are loving & at peace?...See More- 4 years ago
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