Family Farms are Overrated

[StrojanHerefords]

can't make any money when you're handed a farm? I started with nothing with no help and I make plenty profit (hint: its 6 figures) I couldn't imagine having the family help out, share costs, share work, etc.

Don't start at the family farm if you don't have a written contract detailing what you expect. if thats your worry.

can't get quality of life w/o a ton of work and sacrifice? we're talking about being given a farm, not working for one.... HEY SON>> HERES THE FARM. OH BOY DADDY!! Wow.. that took a lot of hard work and sacrifice.. I'm sure my quality of life would be going through the roof moving to the city, going to college or getting a trade job //office job.. and working for other people. SOUNDS LIKE FUN!

if you're not making money right now with cattle I suggest you rethink the entire operation.

No, I am not talking about being given a farm. That is its own issue. It is about kids being lured to stay on the farm with the idea that they would be given the opportunity to make something of their own. But then the rug gets pulled out from underneath them. It is a story as old as time going back to Jacob and Laban.

 

[Spot & Bubby]

And for some quality of life is having no desire to go on vacation to some other place because you love the life you have right where you are.

Happy is the man who wants what he has.

Nothing puts one in a bad mood faster than the thought of being away from the ranch overnight. And it's not even my ranch! I'm just trying to situate myself so I'll have a little something of my own: a little herd, and a decent flock of chickens.

 

[Dave]

I know one man whose sister had left but would have inherited half the ranch. So he bought life insurance on the parents to pay the sister. It was done on an agreed value on the place at the point in time when the insurance was taken out. Any increase in value was agreed was his based on the fact that he spent years working there. When the parents died she got a pretty big pay day. He got sole ownership of the ranch. Long before they passed Dad had given over the management. Not on one day it was a gradual change. Even after the son had management he went to his parents to discuss any big things. And as dad aged he became less involved in the day to day tasks.