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<blockquote data-quote="Lucky" data-source="post: 1727105" data-attributes="member: 32659"><p>There's to many unknowns in this operation to pass judgment. I hear allot of people say they can't understand why parents won't just give a business or farm to the kids. One reason might be retirement. I have a nice 401k from the day job to fall back on but, all the wife has is her business. If she were to give it to the kids she wouldn't have anything to retire on. We plan on running the ranch as part of our retirement but there's no way I could afford just to give it away if I decided to to something different. Plus there's the taxes to deal with. </p><p></p><p> I'm definitely not happy they aren't doing well but they do have a big following of nonranching folks. Maybe this will be an eye opener to people that farming and ranching isn't an easy life with no worries and how difficult things can get in a hurry. A couple years of drought or high feed prices can take a BTO out, small timers without outside work will go much faster.</p></blockquote><p></p>
[QUOTE="Lucky, post: 1727105, member: 32659"] There's to many unknowns in this operation to pass judgment. I hear allot of people say they can't understand why parents won't just give a business or farm to the kids. One reason might be retirement. I have a nice 401k from the day job to fall back on but, all the wife has is her business. If she were to give it to the kids she wouldn't have anything to retire on. We plan on running the ranch as part of our retirement but there's no way I could afford just to give it away if I decided to to something different. Plus there's the taxes to deal with. I'm definitely not happy they aren't doing well but they do have a big following of nonranching folks. Maybe this will be an eye opener to people that farming and ranching isn't an easy life with no worries and how difficult things can get in a hurry. A couple years of drought or high feed prices can take a BTO out, small timers without outside work will go much faster. [/QUOTE]
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