Maple Syrup: Season 2. For Sale and B.S. thread

Thanks Sean. Appreciate that

 

Here's the tundras.com tally chart hanging on the fridge so I can keep track of how much I need to split with my brother.

It's no wonder why I forgot Mike lol. This is just one part of my elaborate syrup system.

 

That's me in there . . .

 

The question is. What should I do with this money? Plan all along has been to save it for my daughter Madelyn's college fund, my hope is between $1-2k per year from syrup, and when she's bigger and maybe helps, her "paychecks" will go there as well. So.... Should I put it in her 529 or maybe start her an IRA? I'd like to do that anyway since she's just 6 now and i think I can open a custodial IRA and transfer to her later. Maybe a whole life policy? I'm not finance genius so any input is appreciated.

 

Kinda what I'm thinking too.
Some of my family give her money for her 529. I'm just afraid if how far and who will accept that in 12 years. IRAs aren't going anywhere.

 

2nd orders have been boxed. Likely won't be shipped til Friday, I work 9a-11p tomorrow and post office opens at 9. Next year i may look into USPS pickup at my house. I believe I can print shipping labels and prepay shipping online then leave boxes on my doorstep. Would need to buy a printer though, I've never had a printer lol. Although I could use one at work I guess but that kinda defeats the purpose.

I'll stop by the sugar house Friday afternoon and check the syrup stock. My gut is telling me we will be low on plastic quarts very soon. Which is good with me, we sell a ton of glass locally, especially the 8oz and 16oz. And I prefer selling plastic bottles on here because packing for shipping is so much easier for me. Takes me forever to pack glass, even though I'm sure I overdo it when it comes to the glass. I do think I have a better system down now as far as protecting glass now.

I also figured out the leaf bottle leak issue. I think I did anyway. So as long as the next few orders make it with no leaks, I'll continue to sell and ship them. It was an issue with the tops just needing a other 1/4 turn to tighten after they cool down. They are tight when hot but need to be redone once cool. So fingers crossed there.

 

Yup, IRA for contributions you make on her behalf. Definitely don't do whole life!

Also, you probably cannot put money in a Roth for her, per se, but when she starts earning herself (i.e. you or some other employer pay her... and report it to the IRS), she can put her wages in a Roth. Way better return than savings accounts or certificates of deposits and, since Roths are for after-tax earnings, she can take out all she put in (the principal) without paying to withdraw-- as long as she leaves the earned interest alone. If she grows up savvy enough to be disciplined about it, that interest, left alone, will go toward retirement (never know what the tax code will be like then, but currently, withdrawals are taxed at a lower rate for "retired" aged). Potentially hundreds of thou$ands without any real effort except the discipline to leave it alone during the early barely-scraping-by years.

This is my favourite article for explaining how a little money invested early makes a greater difference than any other savings strategy (because it's short and super easy to follow):

https://www.daveramsey.com/blog/how-teens-can-become-millionaires/

 

I wish i would have seen that chart when i was 19!

 

@Pudge

Had a late breakfast today covered with your syrup. It is out-freaking-standing.

Thank you for all of the work, from sap gathering to cooking to sorting through all of the shipping/payment/other stuff.

 

Thank you. Glad you like it

 

I'm glad the Colorado syrup 3some worked out !!!! There's some crazy stuff going on out West.

 

You're gonna love it

 

"That syrup is amazing! It's absolutely superior."

I just heard this in my house. And concur.

 

I love hearing this from all of you. Makes all my Hard work worth it
However I'm sorry you'll all likely go broke feeding this new found addiction

 

"MAW-OHM, WE'RE OUT OF SYRUP!!"

Me: I told you to be careful not to waste any of that. I can't afford to buy any more.

"CAN'T YOU WORK MORE OVERTIME?!!"

 

@Pudge
I got my syrup in today. This is the best pure maple syrup I’ve ever tasted! So glad I order two bottles!

 

Yes sir! I'm glad we talked about it before sending out one lonely bottle. Thanks for the kind words

 

Sean's party house?

 

I’ve got some Basil Hayden’s. Great stuff!

 

Mine didn't make it today.

 

Hell yeah Chris. That's a mighty fine beverage. Syrup isn't too bad either.

 

Sorry to hear that mike. I really blew it on your order. I'll make it up to you somehow someday

 

Guess I'd better check the Tundras Live thread in about 2 hours...!