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Croswell, Michigan | Four years ago at age 55, I was 100% debt free. On my 55th birthday I closed on a 263 acre farm that I probably didn’t need but I wanted it and I thought it would be good for the next generation if they chose to farm. So I went from debt free to further I debt than I had ever been in my lifetime. Interest was locked in for 10 years at 3.15%, loan was amortized over 30 years. My plan is to be debt free again at the end of the ten years or six years from now.
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How many debt free farmers?
