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<blockquote data-quote="hurleyjd" data-source="post: 1605284" data-attributes="member: 4674"><p>My wife and I did the same thing only starting and running a dairy. Both quit good jobs and nearly lost everything. I was hired by the same company when I asked to come back. Looking back my wife and I have regrets about trying to live the good life on the farm. If we had it to do over again we would work the jobs that had pensions which we do have and would have taken the five week vacations each year instead of finding something to do on the land. We still have the land we bought and if sold today it would average about $3500 per acre. Some we bought cheap and did barrow money when younger but strived to be out of debt as quick as possible. Debt free at 45 years old. I am now 78 plus 10 months. About the average age people in the USA live to. Did the IRA,s 401's to the max each year to get company share. I still have the cows but am whittling down to hope zero within the next 14 months been planning this for years but would say to myself one more calf crop. About the only goal we have now is to live healthy as long as we can. We did roll all of the 401's and Ira's over in to a Roth, why to not have to pay on the dividends and reduce the taxes on our Social Security benefits. We started planning for our future at a young age. We started the SS pension at 62 years old. I am now at the break even point if I had waited until 70.</p><p>We never used any financial advisors and are not planning to at this point in life. We did talk to some and listened to them and asked them questions about their personal plans and found out we were doing okay. Their main goal was to manage and keep some for themselves. Always plan to invest and have mail box money coming in. Final summary thanks to some good jobs and investments we are comfortable in our old age.</p></blockquote><p></p>
[QUOTE="hurleyjd, post: 1605284, member: 4674"] My wife and I did the same thing only starting and running a dairy. Both quit good jobs and nearly lost everything. I was hired by the same company when I asked to come back. Looking back my wife and I have regrets about trying to live the good life on the farm. If we had it to do over again we would work the jobs that had pensions which we do have and would have taken the five week vacations each year instead of finding something to do on the land. We still have the land we bought and if sold today it would average about $3500 per acre. Some we bought cheap and did barrow money when younger but strived to be out of debt as quick as possible. Debt free at 45 years old. I am now 78 plus 10 months. About the average age people in the USA live to. Did the IRA,s 401's to the max each year to get company share. I still have the cows but am whittling down to hope zero within the next 14 months been planning this for years but would say to myself one more calf crop. About the only goal we have now is to live healthy as long as we can. We did roll all of the 401's and Ira's over in to a Roth, why to not have to pay on the dividends and reduce the taxes on our Social Security benefits. We started planning for our future at a young age. We started the SS pension at 62 years old. I am now at the break even point if I had waited until 70. We never used any financial advisors and are not planning to at this point in life. We did talk to some and listened to them and asked them questions about their personal plans and found out we were doing okay. Their main goal was to manage and keep some for themselves. Always plan to invest and have mail box money coming in. Final summary thanks to some good jobs and investments we are comfortable in our old age. [/QUOTE]
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