I'm in a quandary about that myself. Do I leave the farm to my city step kids or sell it when I'm 70 and go sip umbrella drinks in the Caribbean the rest of my life. Selling it should be a no-brainer but then I won't have any cows!
Retirement
- Thread starter CSM
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Stocker Steve
Well-known member
Leaving it to city folk does no one a favor except for the realtor.
Could put it in a trust to mess with people, or find a local renter to mentor and help.
D2Cat
Well-known member
Sell it and enjoy life! If you give it to anyone who has no "skin in the game" they'll pizz if off faster then you can imagine (sell it faster then you). They have no appreciation or respect.
That's the real problem - I have to figure out how to enjoy life without cows. I see many old cattlemen that refuse to retire. When they're finally forced out they die soon thereafter. You have to have a purpose in life.
You can always run one of those Whoo Girls wagons in Nashville...........
Stocker Steve
Well-known member
Would the old cattlemen have lasted as long w/o cows ?
simme
Old Dumb Guy
There are probably a few young kids around looking for an opportunity to farm - have the desire, but not the money or the plan. Maybe work some kind of deal with someone in that situation. They do most of the work. You mentor and get to be involved mentally and emotionally without the physical demands. Maybe some kind of buyout over time or leasing the cows and property. Might be better to see it being used by someone who respects and enjoys that way of life than having the city guys decide what happens to it.
Can't you just scale down in size? That's what the old timers around here did as they aged. By the time my grandfather was 80, he only had 10 cows, and he was leasing his tobacco instead of raising himself.
D2Cat
Well-known member
Surely you can find another purpose to be using oxygen!!
Caustic Burno
Well-known member
Recliner will kill you.
You can't play golf, hunt or fish everyday it all will get old.
You have to stay busy mentally and physically.
I piddle with something every day. I have come to the conclusion my job is trying to trap hogs.
SmokinM
Well-known member
Well, male prostitute it is then. Society has left me no choice.
Dave
Well-known member
Well, I wish you a long and prosperous retirement.
Dave
Well-known member
When I retired I sold the place and bought a bigger ranch. The kids can fight over it when I am gone. I don't care what they do with it. But I plan to enjoy every minute here that I can.
Son of Butch
Well-known member
To build retirement savings, Diversified Index Funds make the most sense of all time. Buy an S&P 500 low cost Index Fund and keep buying it through thick and thin, Especially through thin. - Warren Buffett 2017
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Most people will call you lazy but agree with you method.
I watched several guys I use to work with run themselves in to the dirt just to die before they could enjoy retirement. Their wife and kids just thought of them as an atm. Many of them didnt even know how to be around their families for extended periods of time.
I'm typing this from the porch of a house on the bay where I've been fishing with my son the past 3 days. One day I will get an itch to take on the world again, probably about the time my son goes to college, but for now, I'm quite content fishing, golfing, hunting and playing with cows with my son.
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Named'em Tamed'em
Well-known member
I'll continue to work but my wife will get paid , I'll be an employee. Crap already feels like I am.
Stocker Steve
Well-known member
Warren' investments have not been doing so well in recent years. Did he follow his own advice?
Warren is a value guy. Value has lagged growth for a while now but that probably won't last forever. Indexing is neither value nor growth. It's based on market cap and unprofitable companies get thrown out of the index after a while. It takes the emotion out of investing.
My portfolio is 1/2 index funds (S&P, small cap, mid cap, international) and the other 1/2 is individual stocks that are mostly value oriented (JNJ, DIS, BMY, UNH ect..)
Son of Butch
Well-known member
Social Security benefits are projected to have a 24% shortfall in 2034.
Who knows what changes or measures will be taken to remedy the problem.
Historically changes have been slowly phased in and those born in 1964 or before should most likely be the least affected by any reforms.
But, imo any born in 1965-1972 will be the most affected, as they are closer to retirement than those born in 1973-1980 but both groups should at least plan on or budget for a 10-20% decrease in total benefits received. But I think congress will act to keep any decline in benefits to the single digits by increasing payroll taxes.
Who knows what changes or measures will be taken to remedy the problem.
Historically changes have been slowly phased in and those born in 1964 or before should most likely be the least affected by any reforms.
But, imo any born in 1965-1972 will be the most affected, as they are closer to retirement than those born in 1973-1980 but both groups should at least plan on or budget for a 10-20% decrease in total benefits received. But I think congress will act to keep any decline in benefits to the single digits by increasing payroll taxes.
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