Posted by JDseller on August 14, 2012 at 08:38:22 from (208.126.196.144):
In Reply to: farm work posted by nick girgen on August 14, 2012 at 03:09:37:
Nick I admire a guy that wants to farm. However reality steps in and makes it a very long shot for you to do it. Most older farmers have so many assets that are tied up in land and equipment that just make ONE families living. So they usually can't afford to pay you and still live themselves. So farming is usually a family business that is passed down or married into.
Then to make it even tougher the average farm size is getting larger. So if a county had 1500 farmers now it will only need 1250 ten years from now. SO a young guy trying to start without family help is just about the same as hitting the lotto.
Farming is a poor return on capitol investment type of business. The average over time is 3-4% real profit. So it takes a lot of assets to provide a income to support a family. My sons would have to go together to buy all my assets if I required market value on them. They would be lucky to ever pay them off. In my case the assets would end up back to my kids so it is stupid to sell mine and make the kids buy them back.
I don't think your are going to find a non-relative to give you a break on the cost of farming today. Most farmers have children or relatives waiting in the wings for the assets. Especially with land values what they are today.
Think about how hard some one today would fight over several million dollars??? I have 360 acres of ground and all of the equipment to farm it plus feed 800-1000 head of steers. Then I also have 100 brood cows. On paper the value of that is several million dollars. Most years I only clear 40-50k. Now that I have it paid for that is not bad but many of those years I had payments that where more than the net income on the farm. So I had to work off the farm for the family living expenses. Plus we lived cheap/ The cost of living is much higher today. Just today's health insurance cost is more than we spent on all other things when the family was all here.
So in todays world I would say get the best education you can. College is just about a must if you want more than $10-$15 dollars an hour job. If you want to farm some then get that education in an agricultural related field. After you have worked a few years then you maybe able to start farming a little on the side and work your way up. The values of land I think will be cheaper in the future but I am not sure that wages will be as good as today's are. Plus the public debt is going to cause high taxes regardless who gets elected now or in the future. So your net income may never be enough to start farming more than a few acres.
This is the legacy my generation is leaving our kids and grand kids. They will be lucky to have our standard of living. It looks like they may not get that high. First time since this country was settled this is gong to happen.
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