GrainTrader - 10/12/2021 06:11
redoak - 10/12/2021 05:41
IDK , do kids really pay Fathers for use of machinery**********
So many different financial situations that no one answer will work for all....Some parents want there kids to 'suffer' like they did and others want to help next generation.....And some kids are good and some not so much
It’s not a “make them suffer thing”. My father is in his mid 50’s. I’m in my mid 30’s. He’s not a wealthy many looking to retire soon. Plus he’s still interested in buying land if it comes available nearby. The way we have valued things if he let me use his combine for free on 1200 acres that’d be $24,000. Plus I use his semi on about half, that’d be another roughly $10,000 worth of use.
(Which I’m planning to buy my own
). I have 2 siblings. Of those who are saying they would or do let their kids use their machinery for free on larger amounts of acreage, are they writing their other kids checks for the same value to be fair?
I guess this thread has also brought to light why I’m usually $50-75 out of the market on rental land when it comes available. Parents subsidizing their kids operations with free machinery and free labor it sounds like. I’m all for helping out, but what are you teaching the younger generation about value and cost of things if that’s the case? When I was farming 32 acres I traded everything with dad for labor. I a neighbor renter their 150 acres to me and then I started paying for combine at that point. After those acres I added some more and started buying some equipment myself...
I sure hope no one reads this and thinks my father is heartless or anything of the such. It’s far from the case. He’s a true cheerleader of mine and a huge asset.
How do “farming partners” own higher dollar, depreciating equipment together?
