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Canmore Ab. Canada | Hi Don,
First I wish to say it is very normal to go through what you are going through. I have not found too many guys that at about the age of fifty don't pause, look at what they have, and think about stepping back and enjoying some of what they have worked for before it is to late.
I am married and have two boys. When my wife and I married it was a dream of mine to be able to retire at 50 if we wanted to. We stayed in the game until 55 and until we were sure the boys did not want to follow in our footsteps.
We chose to keep the farm and rent it out. We kept the main farm yard with the shops and storage and the house Dad still lives in, mainly for him. We also have our home across the road. We now do the things we always wanted to do but never had time to do before.
If something makes us money or we enjoy it we keep it. If it depreciates or does not make a return financially or enjoyment wise we dispose of it. We will keep our land and home as the farm is what we know and sleep at night owning. Good renters help... actually, good renters are critical and we have the best. I also believe land is as good a hedge on inflation as any and I am comfortable in that arena.
My advice to you would be to let life unfold slowly and enjoy the ride and where it takes you. It is however also good to not get trapped in farming if you really don't want to be there forever.
I retired at 55 and got two main comments from friends and neighbors. First was the comment, "Your a farmer, You can't quit."
The second very common comment was, "You are quitting? I wish I would have quit when I had my health and could have enjoyed life a bit." Best wishes.
My email is in the profile. Dan...
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