Posted 12/5/2018 14:59 (#7150842 - in reply to #7150800) Subject: RE: Couple of thing
The good old equity burn. Not to be critical but that means one of a few different possibilities. Either your living expense is to high, your cost were to high or your receipts were to low. If it was on the business side maybe your rents are too high or paying too much for inputs. How well were you doing marketing your grain? These are all simple questions you should be asking yourself. Either you weren't really making anything but spending anyways or you were just spending to much period. Sorry if that comes across as harsh but in reality a lot of guys do the same thing. If we really got into a lot of guys books I think it would shock most how much they are really living off equity.
I little story for an example. I was talking with a guy a few years ago that farms 3000 acres, owned over 1000 of it. He was complaining about how tough things had gotten and didn't know how guys were doing it. I simply stated I didn't think things were that bad. He said heck I own all this ground and still don't feel like I'm making a killing. I asked well how much are you making? His response was 200-250k a year. I said well why don't you just quit then. His response was "what else can I do to make that kind of money working 5-6 months a year". My response was simply "nothing and I mean absolutely nothing" I don't think he ever actually caught on.