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SW Iowa | Get a good job with benefits completely away from farming.
Build up a savings account from the job, then purchase an 80 wiping out your savings for the down payment, but, you got an 80 to farm nights and weekends-holidays, while you keep your good full time job. Learn to like drinking lots of coffee, and eat lots of aspirin. Did I say to keep your good job while you are trying to pay for this 80? We havn't yet mentioned you want to have a wife and a couple of rug rats running around spending your money too.
I said "keep your good job" didn't I?
And, get in the banks, I got in debt with my first land purchase 35 years ago, and have never been out of debt, it just gets bigger. Learn to live with it and use money as a tool, not as a cushion for the unexpected. That is what insurance is for, the unexpected, accidents...Your accumulated cash needs to keep moving back into the farming business. Don't fall in love with MONEY if you want to farm.
And, keep that good off the farm job with benefits.
Good Luck! | |
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? How can a young farmer start out now days?
