| jd7520 - 12/28/2025 09:05 All being debt free does is put your destiny, decissions and future into your own hands and control. Having debt puts you under the control of your lender. And no it does not kill the farm.
Just having debt doesn't put you under control of the lender. Having excessive debt (bad financial ratios and poor working capital) can put you under control of the lender.
I've had debt most of my adult life. It is manageable debt. I could sell enough assets in a couple days time to get out of debt if I needed to do so. Doing so would not be smart, it would trigger large tax liabilities and reduce my income moving forward since those assets are returning an ROI greater than the cost of borrowing money.
I have almost zero fear of my banker trying to take control of my operation or trying to sell me out. If he does, there are lots of other local banks that would take my business, some of them have already been on my yard asking for my business.
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How many debt free farmers?
