Posted 2/9/2019 10:02 (#7308599 - in reply to #7308401) Subject: RE: How is the young guys suppose to carry on?
You still have time. Too many young guys go down this path.
I did not have a farm to go back to - parents and uncle were running the farm part-time that was handed to them by parents. I saw early on they had no interest in helping me out. Fortunately. When we bought land to put our home and farm base on 20 years ago dad asked me why? Who's gonna take this over? I said when? When I'm in my 50's? All I got was a blank look. Dad turned 81 this week. He and uncle have been working on an estate plan that they can't bring themselves to talk to any of the kids about. They can't talk about where we all eventually end up (death). It's a generational thing. I think too many posters give this generation too much credit for "planning on getting rich on the younger generation", or using them. I don't think they are able to give that deep of thought to anything. That's why so many have failed. No planning.
I turned 52 last month. My prophecy came true. However we are financially secure and did it on our own. Now the next step is to give a leg up to MY next generation if they are willing to work for it. Ownership is the first thing they will start with as they build the business. We won't work on promises. It will be a business transaction and will know where they stand at all times.