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| I too can say your not the only farmer who has felt this way. I am geeting closer to the other end of the cycle now though. I went through 80s when I was your age and I am sure the lows I felt wre comparable to what you are feeling now. You got some gooe insight above but there are two thing that helped me: 1} Look at your total balance sheet and not what you think your neighbors is.. Old paid for junk is way better than shiny leases stuff. WHen I came out of the 80s I avoided bankers for along time.I had an aquaintnce that was running new eqipment and vehicles remodiling his home and talking about retiring early. He also bought some land as it was starting to go up again and bankers wre starting to pay attention to Ag again. I kept my land and even bought more when things straitened out. I kept with livestock and old machinery. But I felt kinda of stupid looking at the neighbors eqipment and I smelled but I was farming and thats what counted. Well my friend felt so rich he quit farming. Then hestarted selling land to keep his lifestyle up. The last I heard he was living in an apartment and he isn't even 65. 2)Start compairing your net worth to your city friends your age may it isnt so much different now but in the next 10 years you will start really seeing a difference. When I was in my 40's especially I would look at my balance sheet to cheer myself up because the picture out the window didn't do it. Now when I hear what some people consider is a good sized retirement and I copare it to my balance sheet I just smile.
The posters above mention that family is important. It is the most important. You can make your tough times a positve thing for your kids. It is all about your attitude. | |
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Farming in 2017. Young family. I'm surely not the only one stressed.
