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<blockquote data-quote="Howdyjabo" data-source="post: 207239" data-attributes="member: 391"><p>" i only figure it year to year, not the over all. what i made on my cattle minus the land"</p><p></p><p>You had better be putting that money you are making into savings or pre-pay extra months on the loan-- unless you have another source of income to make the payments-year in year out..</p><p></p><p>These have been some VERY good years-- probably the best and longest stretch I can remember.</p><p>Its not gonnna last forever..........</p><p></p><p>Also you need to be bankrolling for the future-- what if your fences will need major repairs in 10 yrs.The ten yrs old truck broke down and the axels fell out from under the trailer. Every Ten yrs count on having to do major spending just to keep even with what you started with. And thats wether or not calves are selling good then......</p><p></p><p>This is a VERY risky business unless you go itno it with the land already paid for. And then the only finacial up side to count on is that your taxes are lower so you can afford to live on some acreage.</p><p></p><p>Small opperators main goal ishould be to get debt free as soon as they can-- otherwise its only a matter of time before things WILL snowball- and you'll loose control and probably the farm.</p><p>Live dirt poor till there is no debt-- then you got a shot.</p></blockquote><p></p>
[QUOTE="Howdyjabo, post: 207239, member: 391"] " i only figure it year to year, not the over all. what i made on my cattle minus the land" You had better be putting that money you are making into savings or pre-pay extra months on the loan-- unless you have another source of income to make the payments-year in year out.. These have been some VERY good years-- probably the best and longest stretch I can remember. Its not gonnna last forever.......... Also you need to be bankrolling for the future-- what if your fences will need major repairs in 10 yrs.The ten yrs old truck broke down and the axels fell out from under the trailer. Every Ten yrs count on having to do major spending just to keep even with what you started with. And thats wether or not calves are selling good then...... This is a VERY risky business unless you go itno it with the land already paid for. And then the only finacial up side to count on is that your taxes are lower so you can afford to live on some acreage. Small opperators main goal ishould be to get debt free as soon as they can-- otherwise its only a matter of time before things WILL snowball- and you'll loose control and probably the farm. Live dirt poor till there is no debt-- then you got a shot. [/QUOTE]
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