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| Paid for land is one of the easiest investments to manage, it is already like a annuity except you can pass it on for generations and it never runs out of money. It is not hard to rent farm ground just put a sign by field, ad on craigslist, fb, news paper and take the highest cash up front bid. Land ownership has been the longest form of wealth and power. I hope no one listens to the advice of selling a paid for farm to put in a fixed rate annuity, the agent and irs will benefit more from that transaction than the farmer. That fixed rate annuity although unlikely is not 100% guaranteed especially at farm level types of money. As much as I like investing stock market it is hard to recommend someone who has little investment experience to sell a farm and put it in the market. First problem is taxes put one behind the 8 ball from beginning, receiving the lump some makes it hard to dollar cost avg over a long period of time with parking money in cds that earn less than inflation. There is also something about people being doomed to fail when they take a lot of cash and try to invest in something new. Sure if someone wants to take a portion of the cash rent check and put it in a Vangaurd index fund that is a great idea but don't bet the farm. Sorry Boone but not a fan of insurance or assurance companies. I know you believe in what you sell and that is a most for you to be successful but from the outside I couldn't sleep at night giving someone that advice. Nothing personal against you just the way I see it. Full disclosure I have had family and friends ripped off by agents, some of my friends by family member agents. | |
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