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madguy30

Well-Known Member
Nov 15, 2011
49,845
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Yeah, well, let's take a gander of what they live in and drive and how the retired live. It's kind of like teachers. They are always underpaid yet the vast majority have a nice house, with nice vehicles and have a good retirement life, sometimes really early.

I know a lot of teachers who don't have those things unless they married someone with some sort of 6 figure job or something.

Not saying they're all underpaid...many people in general simply don't know how to live within their means, but typically many live paycheck to paycheck.
 

isufbcurt

Well-Known Member
Apr 21, 2006
25,656
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Newton
How do people remember stuff other posters said a year ago? I can't remember what I posted last week and people in CF are always talking about what users said a long time ago. Either I have the world's worst memory or other people actually look at user names of posts. IDK...

Honestly, to the people saying they only have 80 acres, or 400 acres, or whatever... Maybe I don't understand it, because I see the possible liquidity in all of that and the ability to sell most of it and still live in a relatively rural area while having millions of dollars, if that's what they want.

People say selling the farm would be a failure, but isn't the point to make money? Or is the point to live on an acerage? Or what?

I can tell you the minute we inherit the farm land we will inherit it is going up for sale and we will happily be in the millionaires club. It just sucks that it is going to be so late in life that I won't be able to thoroughly enjoy it.
 

SoapyCy

Well-Known Member
Oct 10, 2012
20,023
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grundy center
I can tell you the minute we inherit the farm land we will inherit it is going up for sale and we will happily be in the millionaires club. It just sucks that it is going to be so late in life that I won't be able to thoroughly enjoy it.

i don't disagree with you but this is why people think farmers are rich.
 

ArgentCy

Well-Known Member
Jan 13, 2010
20,387
11,176
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I can tell you the minute we inherit the farm land we will inherit it is going up for sale and we will happily be in the millionaires club. It just sucks that it is going to be so late in life that I won't be able to thoroughly enjoy it.

Just waiting for the day my wife's grandfather passes away. Somehow still gets out in the field in his 90's. They've already had lots of fights with a couple of the children who chose other careers (but somehow think they deserve this as their retirement). They want to keep it in the family and about the only way to do that is cut those kids out and give it to the one or two who want to keep farming. I just find it amusing in a watching a slow motion train wreck sort of way.
 

isufbcurt

Well-Known Member
Apr 21, 2006
25,656
39,126
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Newton
Just waiting for the day my wife's grandfather passes away. Somehow still gets out in the field in his 90's. They've already had lots of fights with a couple of the children who chose other careers (but somehow think they deserve this as their retirement). They want to keep it in the family and about the only way to do that is cut those kids out and give it to the one or two who want to keep farming. I just find it amusing in a watching a slow motion train wreck sort of way.

This land is currently being rented out as my wife's parent don't farm (they inherited the land) but they can't sell it because their basis in it is like $400 per acre and it is valued at $7000ish per acre now so they would get killed with capital gains.
 

CycloneDaddy

Well-Known Member
Sep 24, 2006
7,168
5,973
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Johnston
This land is currently being rented out as my wife's parent don't farm (they inherited the land) but they can't sell it because their basis in it is like $400 per acre and it is valued at $7000ish per acre now so they would get killed with capital gains.
This is my dad and aunts problem as well. They just collect the yearly rent check but once the grandkids get it Im quite sure we will sell it as rent split 10 ways isnt worth the hassle.
 

Jammin’

Well-Known Member
Jul 18, 2009
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Ames-Mia-Atx
Keeping farm machinery and equipment up and running through breakdowns and yearly maintenance is an extra cost that can really creep up and be wildly variable from year to year unfortunately.

We do as much mechanical/fixing as possible but our yearly totals can still be really really really high in some years.
 

agcy68

Well-Known Member
Feb 9, 2007
2,551
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Iowa
i don't disagree with you but this is why people think farmers are rich.

That and buying $400,000 machinery. I don't know many poor people who can do that.

I get what you are saying, but it doesn't really make sense when you stop and thing about it. The land is a capital investment and, if you want to farm, you can't just sell it. And the equipment is the same way except by the time you are done with equipment it isn't worth anything.

That would be like you selling all your personal belongings. You could pimp up that bank account, but then what?

Most farmers I know don't do it to get rich. Every once in a while they have really good years, but then the cost of inputs, especially rent, usually go up and you are back where you are just trying to make a decent living.

Most farmers do it because they grew up with it and it is what they know. They do it because they want to be their own boss. And, they do it because they like to farm.
 

capitalcityguy

Well-Known Member
Jun 14, 2007
8,332
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Des Moines
An alternative option that is much more realistic might be growing produce that is sold locally. You'd want to locate somewhat close to a major population center so you'd have the public and plenty of restaurants as clients.

The big trend (and I think it will only continue) is the demand for locally sourced food. I've watched with interest this place that started really close to my home here in Des Moines. Every year they expand (including adding some greenhouses to expand the growing season). Husband is real estate agent and wife runs this biz full time.

https://www.dogpatchurbangardens.com/#dogpatchurbangardens
 
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