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When enough is enough!
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Pvafarm
Posted 3/7/2019 06:12 (#7364344 - in reply to #7364131)
Subject: RE: When enough is enough!


Southeast WI
Only you can know when it’s enough. If you can’t see any way to make it work and it affects your health and family relations it’s time.

I have no clue how you run your operation at all so can’t give advice on what YOU should do. For us here (notice us, our family, not “me”) success for the past 30 years has been centered on diversification. First step was an agronomy degree. No farm to go back to so had to start from ZERO and knew education was key. Supportive wife that is part of all our businesses is key - not always easy but key. I do run a crop consulting business besides farm which allowed Tracey to stay home with our daughters - growing a farm from scratch wouldn’t allow that. We grow corn, soybeans, 30 acres of fall veggies. The latter made it an easy decision that Tracey wouldn’t have to go and “work for insurance” to support us. Keeping good financial records is another key. Detailed balance sheets, etc, every year since 1996 helps keep our confidence up that we are indeed growing as looking at checkbook balances can be demoralizing at times. We try to know what we are doing financially at all times. That is very important to keep our heads straight.

You really need to eliminate the emotions from making business decisions. I’ve just said a few things how we have survived. You do need time to sit back and look at the big picture when making life changing decisions. Do you have any extension financial planner person that could help if that’s an area you’d like to explore? Many no or low cost folks out there to help. In WI our dept of ag is a place to begin asking.
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