Kinda OT

[muleman51]

I'm getting more frustrated everyday. I have been farming and working for 50 years. I still work full time have planned on retiring at 70 next May. I am now in self lock down because of a workplace exposure, still a week to go. Being just a small farmer (200 acres) I just can't justify a better tractor, new improved planter, a better no till drill, etc,etc. If I rebuild a combine or corn head you can't begin to get your money out of it. I was told by a salesman who was very truethful and not being smart that unless you are farming at least 1000 acres you can't justify new tech products, I believe him to be correct just don't want it to be true. I have a few head of cattle, should pour concrete but that makes no sense. I guess I'm just venting, but am I missing something.

 

[David G]

I think you can "afford" better equipment if you have a full time job and that equipment allows you to farm more efficiently and the deductions help on income tax brackets.

 

[David G]

But, you will never get it to pencil out financially.

 

[rustred]

you are in the reality of things. i make do with my antiques also. was pretty cold out there on the 660 with no cab this fall. least the 850 massey combine has a cab. lol. and i can fix my stuff!

 

[paul]

Yup.

I totally understand.

My wish is grain drying/ storage. Just not enough years left to make it pay, not having it costs me. Grumble grumble. Anything I build for my small farm would be too small for the next operation, so would depreciate down too fast.

Can’t win.

Paul

 

[mjbrown]

What kind of operations are around you?
I'm in the same situation and made some hay and rented out the rest of the ground. A nearby mega dairy started buying my hay standing. That worked out well enough that I planted the rest of the farm to grass. Can you plant and a big operator buys standing crop?

 

[Billy Shafer]

I am no farmer. But I have seen too many around the county. With a service truck next to them. Seems like it would be better to fix what you have.

 

[ztrmowers]

no you not missing anything just been way farming has been,cash rent the place out and enjoy. i started doing that four years ago rented whole farm out ,rest in crp still trying get on ss but i have now made money each year rather tha every few years but thats farming always has and always will be.

 

[muleman51]

My wife and I have worked 50 years to afford the habit and now want to quit the off farm. It would just be nice to some stuff that you you don't use a couple days and then fix and repeat. It was the same way for my Dad just thought it would be fun to just farm and have it make sense and dollars.

 

[504]

THe guy that farms my 20 pays for combining and corn planting. It has always been no till. This year he applied liquid fertilizer,payed for the planting and payed for the spray burn down. He says for a lot of stuff he is better off hiring it done. Cheaper than payments on equipment. (BTW beans he drills)

 

[Bob Bancroft]

No, you're not missing something. You're facing reality. I'm closer to 66 than 65, and living off my small crop farm and SS. I feel very blessed to have had these 35 plus years of not having a boss. I started with nothing, and now have a decent little operation paid for. I would like for nothing more than to pass it on to someone, but wonder if that might not be good for their future? For now, I'll just continue one day at a time.

 

[muleman51]

I could rent it out, plenty of people in line. Just thought I'd like to farm on my time and of course the weather rather than fit it around work all the time.

 

[Roger Tomfohrde]

You are facing reality, others have stated it also. In my case I do not have the acres or access to but would in a heart beat if possible. New equipment is nice but not absolutely necessary. It is where wants and desires come into your thinking. Me, and only me, I would have more time to repair older things and have modified old equipment to be advanced because I have a gear head mentality and have been blessed with mechanical abilities and the tools needed. My dad was still buying equipment well into his 80s when he needed something. When I retire I will need something to do. Also we usually had two of everything to allow for break downs. Use something until it breaks get the other out and keep going. Repair in idle times.

 

[grizz02]

just remember your dream might not be someone else dream , might end up a burden

 

[flying belgian]

If I'm hearing you right, you can't justify it but that doesn't tell me you can't afford it. Everyone spends their money on different things. How do people justify a boat or motorcycle? Who cares. As long as you don't owe me any money I don't care what you spend it on. Uncle told my Dad once...John, if you want one, buy one.

 

[VADAVE]

My Grand parents raised 12 kids on 100 acres some of which was and is woods so I figured I could do it too on "better" ground. Now the grandparents are dead and so are all the first generation of kids--this started somewhere in the late 1800's some of the kids fought in WWII some of the grand kids too some were in Korea I in the third generation was in the "Cold War". NOPE I didn't make money in fact I realized that I was a long way from even breaking even, as long as I could subsidize the effort I could farm but not replace broken equipment or upgrade. I started talking around and it finally came out that eastern Virginia you need to have 300 acres in crops to make money and that is really breaking even. Once I retired from working in an office there was no suberize money. I learned a lot in the 20 years I "farmed" so it wasn't a total loss just not the success I planned for and I hadn't made a killer mistake.
Times they just change!

 

[Bob Bancroft]

Which is why I stated what I did about that "not being good for their future". If no grandchild is interested, it won't be an issue.

 

[showcrop]

This situation is far from limited to farming. 15 years ago a longtime friend who was in the excavation business suddenly found himself without adequate business to be able to afford the newer equipment that he needed in order to be able get the work that would pay for the new equipment. Insurance has been a big part of this. The higher cost of equipment needed to be able to operate profitably is a big factor. There are many many businesses that require constant upgrading of equipment in order to stay competitive, but you need to be doing adequate business volume in order to make the payments.It is far from being an agriculture problem.

 

[Traditional Farmer]

I have a small operation,do it with good used equipment that is bought and paid for none came from a dealership either.Dealerships are about the worst place I know to buy equipment/tractors or get farming advice if you want to make a profit.Got to size your equipment to fit your operation and size includes the size of the cost.

 

[moresmoke]

some stuff that you you don't use a couple days and then fix and repeat.



Need to break this cycle. Fix first, then use. Fix it right, take care of the equipment and it will run. Doesn’t matter if it is new or older, same thing applies.

 

[fixerupper]

How much retirement money do you have stashed away? If you need a boost to your retirement savings to live another 20 years rent the farm out. Renting it out will net you more money than you ever have off of that land and rent money is not stuck with self employment tax.

If you do want to continue farming yourself profitably with old equipment there is old equipment out there that will come close to the performance of new equipment. It might not do the job as fast but it will do a very good job. A Deere 7000 planter is one of them. If you prefer to skimp on modern plant genetics and herbicides and end up with short corn sticking out of the grass and weeds, park your equipment and rent out the land. Yes I am being blunt but at your age it is all about bringing in all the retirement money you can get hold of. I am in the same situation as you. I am Pushing 70 and farm with old equipment I want to nurse along for two more years.