Preheat oven to 325 degrees. Grease and flour a tube pan. Allow butter and eggs to reach room temperature.
Using a mixer cream butter and sugar together. Add eggs one at a time, mixing well. Add vanilla extract.
Sift the two flours together. Alternate adding the flour mixture and milk to the batter. Start with the flour mixture and end with the flour mixture.
Pour batter into prepared pan. Bake for about 1 hour, depending on your oven.
Sometimes I will add a bag of chocolate chips or peanut butter chips to the batter before I pour it into the pan. I've also served it with strawberries and whipped cream. How you serve it is limited only by your imagination!