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[farmaholic]

[farmaholic]

[farmaholic]

[farming101]

TIME TO GET RID OF SOME PARASITES

Timing is everything. And time keeps ticking away....

[biglentil]

Timing is everything. And time keeps ticking away....

Yes! The right thing at the wrong time is the wrong thing.

[sumdumguy]

An estate that I administered was paying 7% per year in admin fees. Seems they didn’t have a problem with that. They lived and learned!

[farmaholic]

Timing is everything. And time keeps ticking away....

I've been saving in RRSP's since my early twenties...tick tock tick tock.

I got in when locked in savings interest rates were very respectable. Then they went for shit and useless mutual funds and ETF's came into the scene, dismal since then.

I kept track of deposits over the years and I bet I don't have a pile of more money in the portfolio than I deposited. Nothing to write home about anyway. I expected to be much further along than I am thirty years later.

Best investments ever made were in "myself"!

[tmyrfield]

I've been saving in RRSP's since my early twenties...tick tock tick tock.

I got in when locked in savings interest rates were very respectable. Then they went for shit and useless mutual funds and ETF's came into the scene, dismal since then.

I kept track of deposits over the years and I bet I don't have a pile of more money in the portfolio than I deposited. Nothing to write home about anyway. I expected to be much further along than I am thirty years later.

Best investments ever made were in "myself"!

Just wait till you start your rrsp withdrawals and conversion to a rrif. once the taxman gets his due your "investments" will be very disappointing. if you figure in oas clawbacks and the fact that you'll likely be in the highest tax bracket tax rate could well be north of 75%.
investing in fast cars, loose women and booze couldn't have been a whole lot worse;>)

[AlbertaFarmer5]

I've been saving in RRSP's since my early twenties...tick tock tick tock.

I got in when locked in savings interest rates were very respectable. Then they went for shit and useless mutual funds and ETF's came into the scene, dismal since then.

I kept track of deposits over the years and I bet I don't have a pile of more money in the portfolio than I deposited. Nothing to write home about anyway. I expected to be much further along than I am thirty years later.

Best investments ever made were in "myself"!

So, why does a farmer invest in RRSP's instead of investing in his own business?

Any RRSP indexed to mutual funds, or investing directly in stocks is just investing in someone else's business, with many layers of middlemen taking their cut inbetween, businesses we know very little about, meanwhile, we borrow money to finance our own businesses simultaneously.

I realize that you started investing in a completely different era than some of us, when interest bearing investments did very well, and land didn't, so obviously we were imprinted by different factors at different times.

[farmaholic]

So, why does a farmer invest in RRSP's instead of investing in his own business?

Any RRSP indexed to mutual funds, or investing directly in stocks is just investing in someone else's business, with many layers of middlemen taking their cut inbetween, businesses we know very little about, meanwhile, we borrow money to finance our own businesses simultaneously.

I realize that you started investing in a completely different era than some of us, when interest bearing investments did very well, and land didn't, so obviously we were imprinted by different factors at different times.

I did invest in the farm, took it from about 4 quarters to 16. "Invested" in machinery to do it too. TFSA(actual stocks), RRSP(ETFs), Non Registered(ETFs and cash). I don't have all my eggs in one basket.

Here's a thought, why does every generation of a family farm have to buy the same land? At today's prices and farm size that isn't even feasible anymore.

[AlbertaFarmer5]

I did invest in the farm, took it from about 4 quarters to 16. "Invested" in machinery to do it too. TFSA(actual stocks), RRSP(ETFs), Non Registered(ETFs and cash). I don't have all my eggs in one basket.

Here's a thought, why does every generation of a family farm have to buy the same land? At today's prices and farm size that isn't even feasible anymore.

On your second point, what a drastic difference it would make to an operation if each generation didn't have to buy the farm all over again. But on the same note, I often ask a different question:

Just because ones parents were successful farmers and business people, does that guarantee that the offspring are the best possible operators to take over that farm? Or does giving them a break exclude someone who might have been much more competent and motivated, who never gets the chance?

[Rareearth]

Rules always changing, for estate and transition planning.
- gone are the trust benefits
- capital gains?
- life insurance proceeds next?

It might be impossible to transfer businesses in the future?

Investing In your self is always a wise investment.

As for diversification, farming is a diversified business, currency, commodity, land, Catepillar ( farm machinery) etc