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| Well I am getting to the point that my farmland will be paid for in few years and I can kinda see the light at the end of the tunnel. I always relied on my herd of 60 cows to help make my land payment every year. A few of my corals and a bard are in need of replacing with cost of around probably $20k to $25K. I had always thought my herd would be part of my retirement plan but now with cattle prices coming up I don't know if I should just get out now. What is the best way to get out without giving a good chunk of it to Uncle Sam? I am thinking leasing them out would be the best way to spread the income out over a few years but how do you find someone to lease them? I assume their is a certain level of trust when you turn your herd over to someone else. Does anyone send their cattle out of state to a lessee? How about selling them outright and buying back farm equipment to offset the income? Just looking for some options. | |
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Getting Rid of Herd Sell or Lease???
