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| The way I see it right now you have a hobby farm that won'nt support it's self . 120 cows is about half of what is needed to ranch full time were I live . I don't know what it takes as far as acrage for row crops .
Is this land you have were your living now or do you have to move . Don't fall in the trap so many do move from the city , wife doesn't like the hundred year old farm house , spends acouple hundred grand on a house . Husband spends a bunch of money on buildings and tractors that are half the size to get the job done . Live there a couple of years wife doesn't like it when the power goes out , sells out loses all the capital they put in .
If doable I'd buy land.
Find out how big you need to be to be full time . Then step back and think can you do it by yourself . If your kids aren't going to farm , it's going to be you . If you need help you're going to have to have good neighbors or hire someone . That put's a new spin on the equation.
As you know with "vintage" equiptment it can cost some money to keep running . You can get by running that stuff if you are handy with a wrench and welder , if you have to hire your work done forget it .
I'am of the same age , I left the Seattle construction rat race 3 years ago to farm and ranch . I don't ever plan on retireing because that is a end . I work twice as many hours 7 days a week , but I never go to work , I just get up and do what I want to be doing , | |
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Help with Retirement Plan
