making a living ranching

[cross_7]

i didn't want to hijack the other thread, but i got to thinking about it.
would you be willing to take such a risk ?
quit your job
pay your own health insurance
quit paying social security(not sure how that works)
what about a retirement fund, would there be enough extra income for a retirement fund ?
what about drought ?
what about cattle prices? the 90's dang near busted me and i had a job.
if you were debt free things would be easier but what about land payments, house, cars, and etc.

could you take the chance to fulfill a dream ?

 

[TennesseeTuxedo]

In a word...no.

Not now for me anyway

 

[highgrit]

No here also, but you can live. I figure my kids will make some when they sell out. Cows and land is like money in the bank. Just don't spend more than you make you'll be alright. Maybe if I live long enough my son can take over, sure be nice to keep it in the family. All the money in the world can't buy happiness, or my place.

 

[1982vett]

i didn't want to hijack the other thread, but i got to thinking about it.
would you be willing to take such a risk ?
quit your job
pay your own health insurance
quit paying social security(not sure how that works)
what about a retirement fund, would there be enough extra income for a retirement fund ?
what about drought ?
what about cattle prices? the 90's dang near busted me and i had a job.
if you were debt free things would be easier but what about land payments, house, cars, and etc.

could you take the chance to fulfill a dream ?

You don't "quit" paying social security.......*instead of paying half of it as an employee.......because you are now self-employed you pay all of it.......just like you get to pay all of your health insurance (unless you are on someone else's policy)...but as far as social security payments really go.....you do only pay on taxable income....whatever that might end up being. For me it's been 18 years since I've had to pay social security on farm/ranch income.....

*Now that statement is thrown in for those who think an employer pays half of your social security...... it is wages you earned but didn't get to keep no matter where the money came from.

 

[jedstivers]

Never had a job to quit, this is all I've ever done
Paying mine an it's a bi+ch
I'm paying as little as I can because there won't be any left
Retirement is in land but I hope to go till the day I drop.
For drought we have invested in irrigation
Sold a lot of crops and calves for less than cost of production
Won't be debt because its to easy to use other people's money but it would be nice
Won't consider anything else.

 

[ohiosteve]

I have a decent job with no benefits and no retirement and I spend every extra dime I have to keep my small herd growing. I have scraped by and now have a very small herd of mommas and enough rag tag equipment that I was able to make enough hay last summer to feed my girls and even put up a hay/equipment barn this summer. It ain't much but I'm happy.

 

[Caustic Burno]

The question I would have to ask is why you would want to. I have owned or messed with cow's all my life.
I been very blessed to have been so successful in life, with a great paying job with benifit's.
I have always approached my cattle as they had to pay for themselves.
I look at it as I had the best of both world's, I was able to send my children to fine college's provide the extra's in life and do what I really enjoyed. If I die tomorrow, I can tell St Peter is I had a great ride.

 

[houstoncutter]

Only if you got a pot load of land allready paid for, and you and the misses dont mind living like paupers.

 

[shadyhollownj]

Hey Vette I wish I had you as an employee so I could take the actual 22 percent I pay as an employer over and above actual payroll out of your hard earned wages. It is not your wages that pays the extra taxes, ss, workers comp, and disability. It is simply figured on the total payroll as percentages over and above my total payroll. Making a statement like that makes it seems like running a business is just sitting in an office with a hot secretary helping you count all your profits. In an economy like this extra money a business owner pays not included in your wages sometimes could be the money that makes him stay afloat so dont belittle it. Not trying to pick a fight but dont make statements that you know arent true.

Raising cattle for me though is just a real expensive hobby. It keeps me happy and hopefully one day I will make some money. I cant really see makin a living unless you are raising hundreds and have no overhead.

 

[backhoeboogie]

My choice was already made over 30 years ago. Cows are supplemental and always will be.

 

[1982vett]

Hey Vette I wish I had you as an employee so I could take the actual 22 percent I pay as an employer over and above actual payroll out of your hard earned wages. It is not your wages that pays the extra taxes, ss, workers comp, and disability. It is simply figured on the total payroll as percentages over and above my total payroll. Making a statement like that makes it seems like running a business is just sitting in an office with a hot secretary helping you count all your profits. In an economy like this extra money a business owner pays not included in your wages sometimes could be the money that makes him stay afloat so dont belittle it. Not trying to pick a fight but dont make statements that you know arent true.

Raising cattle for me though is just a real expensive hobby. It keeps me happy and hopefully one day I will make some money. I cant really see makin a living unless you are raising hundreds and have no overhead.

Don't think I said anything that isn't true (depending on the spin you want to put)....but that's part of what I'm getting at.....the hidden taxes and employer pays...for an employee...that the employee doesn't take into consideration....all most employees have been suckered into thinking their takehomepay is what they make....I'd say very few employers ever show an employee what it really cost for them to have their job....

And I'm sure since you are in/around south jersey.....you are paying taxes that we have never heard of.

 

[marksmu]

Personally I am willing to the risk, but I want to be sure its not a failure before I do so....I have been growing the herd for the last 4 years part time by just working on weekends and saving every penny that I make over/above the necessities...I want to have the numbers I need to show a profit before I stop working at the office....I figure I need about 125 breeding cows before I call it quits at the office. I'm up to about 65 Breeding cows and another 30 or so steers....once I get the breeding herd all the way up, Im kissing this office good bye....with the numbers where they are, its getting very difficult to handle everything part time....tagging new calves has gotten almost impossible, half the time I don't get a tag in their ears until they are 4-6 months old, and then it gets very hard to figure out which cow the calf belongs to. The disorganization drives me crazy.

Anyways, I am blessed with my wife. She is a very hard working, very successful attorney who makes more money than 3x what I earn, so not working in the office should not be too hard...in 3 years we will be done having children, and she should be a partner in her firm, which means job stability for her. That means I no longer need to work in the office....I can buy into her health care, and all I need to do is make the ranch pay for itself while it expands....I will use the ranch as a retirement account - buying up land and increasing the herd until I can't handle it all myself. I figure that I should be able to handle about 2500 acres on my own if I get to do it full time....I think that should be all I need.

3 more years....3 more long years. But there is a light at the end of that tunnel, and its getting brighter every day!

 

[Limomike]

IM with CB on this one.. Why would you want to??

 

[backhoeboogie]

IM with CB on this one.. Why would you want to??

LOL at about 17 years old, I vowed to never have a garden and never own a cow. I still don't have a garden.

 

[TexasBred]

IM with CB on this one.. Why would you want to??

LOL at about 17 years old, I vowed to never have a garden and never own a cow. I still don't have a garden.

Sounds like my dad when he refused to put a fireplace in the house. Said "I have cut and split my last dam stick of wood".

 

[backhoeboogie]

IM with CB on this one.. Why would you want to??

LOL at about 17 years old, I vowed to never have a garden and never own a cow. I still don't have a garden.

Sounds like my dad when he refused to put a fireplace in the house. Said "I have cut and split my last dam stick of wood".

Most of my childhood was on the end of a hoe. If not that it was tending to cows. Dad never needed things like a post hole auger or front loader bucket; he had me and a wheel barrel.

 

[Anonymous]

Seems my generation is attempting to go backwards in some ways. I installed a fireplace. I fenced in some land. I bought a cow. Several i know have done the same.
Heres the problem: unless you inherit family land or are xtremely fortunate land cost is cost prohibitive. At least with the cost of inputs and the profit margin of cattle.
Right now i hope to be able to sell out here in about 10-15 yrs and but somewhere that land is more reasonable. In the hope of being able to ranch to provide a modest existence.
Land cost is the major hold out the way i see it. At least south of the 90 degree line

 

[cross_7]

i've looked back at some of the "safe choices" i've made over the years and have thought what if i had taken a chance.
now i'm thinking when i turn 65 and retire, am i going kick myself for not taking a chance and now it's too late.
i've always based my decisions on security, whether is was for fun or financial i always wanted to be safe.
i've now learned there is no safety in anything.
all it would take for a lot a people would be a job loss or say health issue's even with good insurance the loss of your paycheck for a few weeks or months would sink a lot of people.
i've never heard anyone on their death bed say "i wish i had worked harder and had less fun".
heck i my may quit my job and become a professional team roper-bass fisherman-bowhunter extraordinaire and part time cow nurse. :cowboy:

 

[Caustic Burno]

i've looked back at some of the "safe choices" i've made over the years and have thought what if i had taken a chance.
now i'm thinking when i turn 65 and retire, am i going kick myself for not taking a chance and now it's too late.
i've always based my decisions on security, whether is was for fun or financial i always wanted to be safe.
i've now learned there is no safety in anything.
all it would take for a lot a people would be a job loss or say health issue's even with good insurance the loss of your paycheck for a few weeks or months would sink a lot of people.
i've never heard anyone on their death bed say "i wish i had worked harder and had less fun".
heck i my may quit my job and become a professional team roper-bass fisherman-bowhunter extraordinaire and part time cow nurse. :cowboy:

When the kids came along it was about providing the best for them. That is a definition that is different for every man.

 

[Anonymous]

i've looked back at some of the "safe choices" i've made over the years and have thought what if i had taken a chance.
now i'm thinking when i turn 65 and retire, am i going kick myself for not taking a chance and now it's too late.
i've always based my decisions on security, whether is was for fun or financial i always wanted to be safe.
i've now learned there is no safety in anything.
all it would take for a lot a people would be a job loss or say health issue's even with good insurance the loss of your paycheck for a few weeks or months would sink a lot of people.
i've never heard anyone on their death bed say "i wish i had worked harder and had less fun".
heck i my may quit my job and become a professional team roper-bass fisherman-bowhunter extraordinaire and part time cow nurse. :cowboy:

When the kids came along it was about providing the best for them. That is a definition that is different for every man.

Thats where im at now