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“Running the business” not taking over.
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BryceH
Posted 8/6/2026 22:46 (#11721097 - in reply to #11720028)
Subject: RE: “Running the business” not taking over.



Nunn CO
Rdumfarms - 8/5/2026 22:17

BryceH - 8/5/2026 22:45

(assuming you have generated enough retirement saving as a farm hand in the next 20 years to not need ownership) he will be in the exact position you are today and you will have lost two generation building the "family farm".


Well there’s the problem, no pay having living expenses covered.
Wife drives combine and trucks grain and takes care of the kids.
Both of us have no retirement and walking away be a bit of a financial challenge, aged 39


Staying sounds like a bigger financial challenge.......

Something for you to VERY seriously consider. If something happens to your dad's farm (bank takes it, medical expenses force partial sale for parents end of life care, hospice expenses take it, accident happens and liability insurance takes it, siblings get share in estate, or any other variation of 1,000 reasons people loose farms what then? I'm sure there is more to it and I don't want to sounds like a A$$hole but it sounds like you are slightly waiting to win the inheritance lottery so you can start living your life. That day could easily be 20 years from now. Your kids will be grown and gone and you should be close to retirement age.

At 40 years old you should have a fairly serious estate plan or succession plan with your family or/and be growing assets and income separately.

Again its hard not to sound like a A hole through a computer screen and that 1,00% is not my intent here. I think you just need to seriously consider the position you and your wife/ kids are in today. Being 40 with no retirement or income is scary. Being 60 with no retirement or income is one accident away from homeless.
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