Farmers getting OLD

[sumdumguy]

You guys talk like farming is the only way of life. There's a big world out there. In straight grain farming we have seen more years with $3 wheat, $6 Canola than $14 wheat and $13 Canola. Just because the stars lined up once in 35 years, farmers are all beating their chests.

[hobbyfrmr]

Sumdum et al, I agree that with a 3 year "real" profit run that happens once in 25 years falsely improves attitudes and perceptions.
The timeline is perfect, shift in generations so the young people don't remember, and some higher prices softens the resentment of the older farmers who got through the tough times.
On the less bitter side of things, just because I found my first 13 years of grain farming difficult does not mean all the other farms were struggling. There are plenty of very good farmers who know how to manage well.

[wakopa]

fjlip, i wouldnt charge going rate,lets say 50 dollars times 1500 = 75000.i can have lots fun with that and if the boy doesnt want to farm,we still have the land, nobody went broke and i now charge going rate and the land goes to the boy when i leave and he gets rent money.

[fjlip]

Okay I was at $40, you got all the machinery? Is that free? How about buildings? Nothing simple worth a bit to right individual. Have the heated shop and he is a Inter-provincial Journeyman Mechanic, still a decision to be made. Off season repair business option.

[farmaholic]

Wasn't the OYF winner a poster boy for Bayer Canola seed?

Once again I'll say it, a lot of unsung hero's that get no limelight as Primary Producers. If that is the roll model we are all supposed to live up to, I'm glad I'm too old to be an Outstanding Young Farmer. Hell, I don't even want to be an Outstanding Old Farmer. Kinda satisfied with where I'm at at this stage of my life. Knock yourselves out. Like Fj said, been there done that earlier in life, not interested in the next "game" level.

[wakopa]

Here is what I would do in my situation , not saying it's right . I would also talk to my accountant first.maybe crop share with my son so I can get some of the benefits , rent low split between my wife and me , start taking out rrsp because when I go all have to be taken up with lots taxes taken off, he would get my machinery and maybe the odd bin of wheat I have. My last year I have a full crop to sell with very little expense plus maybe some pension money .