Let’s talk farming again.

[woodland]

Sheepwheat…….. great topic👍

The kids here are fairly interested in the farm which is kinda nice. My folks only made us finish high school and offered to pay for a couple years of university if we wanted. Only took evening courses for business management and never looked back.

My 8 year old daughter wants to be vet and has been all along. Says she will fix my cows for me. Not squeamish in the least as she wants to see the kill floor at the butcher or any surgery we do here.

My 7 year old boy wants to do anything he’s able to here. Chase cows, fix fence and equipment, pull net wrap, and anything else.

The one year old is always excited and lets us know whenever she sees cows. Hasn’t said what she wants to do yet😉

I know my folks taught us from young about the money side of the business and I’m grateful for that. Some parents keep it a secret and wonder why the kids later on have no money sense. We knew what payments needed paying when and even took out loans at 14 years old to buy bred heifers.

The layer chickens we got are hopefully a way to start teaching our kids about the less sexy/glamorous money side of the business.

May need to add some more hired help to tide us over till the kids decide what they would like to do. My folks and hired cousin are all in their late 60’s and slowing down. The kids are definitely free to do whatever they would like. The only caveat I have is they need to be happy. 🍀

[fjlip]

BP I guess anyone with an interest can have shares in the farm corp. Doing same with sons who are off farm employed currently. Land will stay in family, after us, they will do what ever is best for them. Both Really enjoy helping, one is a mechanic, will see how it all unfolds. Discussed borrowing a couple million to be a BTO, he said no thanks. We could stop any day, but yes, what does one do? A career change should have been 10-20 years ago. Just a STO, but have no regrets. Physical health will determine retiring time, then bigger decisions by all involved will happen. There are thousands of individual situations, use a good accounting firm to minimize giving the TURD more to waste!

[Old Cowzilla]

My youngest son is going to take over most of the grain side of the farm. I continue with the cattle part for a few more years . With the amount of grey haired business people ready to retire in the next few years there will not be a shortage of professions .

[blackpowder]

BP I guess anyone with an interest can have shares in the farm corp. Doing same with sons who are off farm employed currently. Land will stay in family, after us, they will do what ever is best for them. Both Really enjoy helping, one is a mechanic, will see how it all unfolds. Discussed borrowing a couple million to be a BTO, he said no thanks. We could stop any day, but yes, what does one do? A career change should have been 10-20 years ago. Just a STO, but have no regrets. Physical health will determine retiring time, then bigger decisions by all involved will happen. There are thousands of individual situations, use a good accounting firm to minimize giving the TURD more to waste!

When I do stew over what I could've done differently, all I see is an 8-5 for someone else. I would have inherited some debt free land, so it's slightly possible my balance sheet might look better today LOL.
But I supported two households and a few lawyers as well as a few employees along the way. Likely balance sheet the same anyway considering divorce timing and parent's low ACB for capital gains.
I was who I was, and here I am today.
It seems now I have more regrets over people than money. But that's another story for another thread.

[jazz]

My youngest son is going to take over most of the grain side of the farm. I continue with the cattle part for a few more years . With the amount of grey haired business people ready to retire in the next few years there will not be a shortage of professions .

I would be cautious there cowzilla. every single company during covid learned to operate with fewer employees and then leaned on tech for the rest.

That could be a harbinger of whats coming for regular professions. Skilled and unskilled will be hit pretty hard I imagine. Even doctors and others at those levels could see disruption.