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NE Iowa | Lots of great responses. I agree with most of the comments above. Just a few additional thoughts...
- What's the difference in hourly pay & don't forget the benefits packages? I know you'll be earning a salary. But, in the end, you should understand what that equates to on an hourly basis. That's the value you bring to the organization and what you're giving up in opportunity costs on the farm.
- Based upon the opportunity cost above, what does that enable you to pay to have custom done on the farm. Life is short. I know you enjoy farming now. But, you wanna keep it that way. So, don't over-burden yourself and know when to pay someone to do the lower value-add stuff.
- How old are your kids? If they're young, plan for your work-life balance to change significantly. The joy of doing low value-add stuff goes down real quick when you'd rather be hanging out with your kids. That's when it became obvious to me to just pay for some stuff to be custom done. Like someone above mentioned, I'm a one man show. You've gotta have a sense of where you add value (both at the farm, at work, and at home) and focus on that.
- Last one....whenever I have tough life decisions to make, I apply a 20 year rule. If you imagine yourself 20 years from now, what decision will you wish you'd have made. Think long and hard on this one, talk to your wife about it, and it'll probably give you your answer.
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