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ottertail co mn | Ok your buddy at 70 does not have time to make mistakes. He is gonna be done farming one way or another in the next 10 years, give or take a couple.
If he goes in the hole a bunch, he has very little time to recover his losses and physical labor will not be another way to overcome debt.
The writing was on the wall in the fall of 13 that if you wanna retire rich you better have a sale that fall. Equipment was still valuable and land rents were crazy stupid, but some guys thought that it can't get that bad that fast. Me included, but I am not even close to retirement so I figured I would grind through. If things don't turn around for me in the next 2 years I will not be farming like I am today. I will cut back to owned land only and eliminate labor costs other than my own labor. I have not been the best marketer either the last 2 years. I have hoped for higher prices being a little cocky and not getting the job done.
I hope for your buddies sake things turn out for him. | |
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Might be time to call the Auctioneer
