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North Western Alberta | I did have 105,000 that I had saved up. I went farming. I lost it all... and 150 grand on top of that. Made a TON of mistakes, and weather got me. But, MAN IT WAS AWESOME. Id do it again to. I am already thinking of ways to go farming again. Its a horrible disease. that cant apparently be cured. HA ha!! Man, I miss it. I miss my old Versatiles, I miss my air seeder, my land, my old farm truck, crop checkin.... etc etc.
I tried to pay for most of my machinery, without too man payments, so I had a bunch of old, very nice equipment. I took a loan out for my combine ( high hour but MINT 9500) due to repetitive mechanical failures on a paid for 8820. Those payments in consecutive droughts were part of what buried me. If you dont have too many payments, you can kind of weather some good losses. But, the machinery payments, HAVE to be made, and on time. It seems that once you get a bit upside down, its hard to recover from that. I couldnt. And, make sure you get a really good, intelligent and experienced mentor. Thats one thing I didnt have, and probably would have steered me away from higher risk, higher input crops. As the old saying goes... If I knew then what I know now... haha! | |
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Hypothetical question.
