Middle of the middle west | I have usually looked at 300 acres owned free and clear as the goal to live quite comfortably. That gives about $105,000 ($350 × 300) of profit.
A guy could do it on 200 acres, but would probably take a part-time job as well.
Probably could do even less if you find a market for more labor intensive produce.
I would be careful though, just giving a child some farm ground can lead to disaster later in life. For example, my dad had a cousin who inherited about 600 acres free and clear. Long story short, he pissed it all away before he had reached retirement age. He's now living on the public dime.
I your children are not willing to work for it, or are not willing to take on some risk themselves to grow the operation, then chances are it won't survive anyway. In my opinion, the will not understand or accpreciate what it took to get there. On the other hand, you also don't want to have them buy the farm over again. |
Sustainable farming operation
