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Iowa | Badger - 4/5/2013 07:04
#1 you can not start where I ended up after 40-60 years.
I rember reading when I started, "the 1st 10 years you can not afford a cup of coffee @ the cafe, the 2nd 10 years you just look at the pie". What the fellow ment was EVERY SPARE CENT went into the farm during those years.
I did that, & I survived, not allways easy. I was just getting started in the late 70's, 22% intrest in the early 80s HURT.
If you want to start you need to understand that your standard of living is going to suffer untill you have a few years under your belt. Most of those you "envy" spent 30-50 years doing WITHOUT.
Very good!
I'll add:
1) They won't drive an old vehicle
2) they won't live in a one-bathroom house
3) they won't give up a $2-3-4,000 vacation
4) they think someone owes it to them
5) for the most part, they won't have livestock. After all, that means work EVERY day.
6) they've bought into the fallacy that "we might as well have it, interest is cheap" or, "we deserve it"
7) they don't have patience. Their time will come. I lived in rented houses on rented farms for 13 years, and the first farm I bough didn't have a house so we stayed in a rental.
8) They married a women who won't wait for nice things/doesn't share their vision of what the future could be like w some sacrifice now
9) Sometimes, not always, of course, they won't get a college education
10) They think IRON is neat/fun and not just a necessary evil
Hardest things are patience and avoiding temptations with your $$. Invest it in the operation on something w a good ROI or save it. DON't buy a new car or a new bunch of furniture.
There are exceptions to the above, and those are the kids who will make it. | |
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? How can a young farmer start out now days?
