Farmers love to complain how there’s no money in farming as they pull up in their $100k truck, to their 10 million dollars worth of land, with a million dollar home on it, surrounded by hundreds of thousands of dollars worth of recreational vehicles & a boat, with $10,000 in cash in their pocket.
Most farmers have much more work-oriented trucks because they actually use the truck part, especially hauling
The land value is meaningless except for tax purposes or when selling
Most farm houses are probably worth 50-100k without the acreage, if not less (this will vary by region, but locally to me they’re very small, modest homes
Most farmers don’t have recreational vehicles nor boats. Although I do know quite a few farmers with ATVs those are again primarily used for work, and fun is an afterthought with those
That 10,000 cash is only after harvest and before buying next year’s seeds
The real joke is how to get started farming, you’re either born into it or you marry into it because there’s no way to turn a profit if you don’t inherit the land
I used to sell recreational vehicles to farmers and the experience was almost universally what I described above. I know that not all farmers have money, but they have a shit load of actual value, and the ones I dealt with also had a lot of money. The small family farm is almost extinct. Like you said, most of them now were born into millions of dollars worth of assets and live pretty comfortable lives. Granted, my experience is only limited to a single region in a single state, so it might be completely different in other places.
Ya know how to make a small fortune from farming. Start with a big fortune
Farmers love to complain how there’s no money in farming as they pull up in their $100k truck, to their 10 million dollars worth of land, with a million dollar home on it, surrounded by hundreds of thousands of dollars worth of recreational vehicles & a boat, with $10,000 in cash in their pocket.
I can tell you don’t actually know any farmers.
The real joke is how to get started farming, you’re either born into it or you marry into it because there’s no way to turn a profit if you don’t inherit the land
I used to sell recreational vehicles to farmers and the experience was almost universally what I described above. I know that not all farmers have money, but they have a shit load of actual value, and the ones I dealt with also had a lot of money. The small family farm is almost extinct. Like you said, most of them now were born into millions of dollars worth of assets and live pretty comfortable lives. Granted, my experience is only limited to a single region in a single state, so it might be completely different in other places.