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<blockquote data-quote="Son of Butch" data-source="post: 1289809" data-attributes="member: 14585"><p>No, you are not looking at it wrong. But you have to keep going with your calculations.</p><p>How much income will the land and cattle generate and what will your payments be?</p><p>Here is an example:</p><p>300K at 5.75% interest for 30 yrs = 360 monthly payments of $1750 </p><p>1750 x 360 = 630,000 - 300k principle = 330,000 interest</p><p>1750 x 12 = 21,000 yr</p><p></p><p>50 cows generating $280 head profit per year = 14,000</p><p>21,000 - 14,000 = <span style="color: #FF0000">7,000</span> short fall.</p><p>(Sterling profit tracker projected average for cow/calf operations in 2016 is $240 hd)</p><p>50 x 240 = 12,000 for a short fall of <span style="color: #FF0000">$9000</span></p><p></p><p>Plug your own numbers in to see what you can make work.</p><p>But, I come up with you'll need additional off farm income to make the payments and for living expenses until your 68.</p><p>38 yrs old + 30 yrs = 68</p></blockquote><p></p>
[QUOTE="Son of Butch, post: 1289809, member: 14585"] No, you are not looking at it wrong. But you have to keep going with your calculations. How much income will the land and cattle generate and what will your payments be? Here is an example: 300K at 5.75% interest for 30 yrs = 360 monthly payments of $1750 1750 x 360 = 630,000 - 300k principle = 330,000 interest 1750 x 12 = 21,000 yr 50 cows generating $280 head profit per year = 14,000 21,000 - 14,000 = [color=#FF0000]7,000[/color] short fall. (Sterling profit tracker projected average for cow/calf operations in 2016 is $240 hd) 50 x 240 = 12,000 for a short fall of [color=#FF0000]$9000[/color] Plug your own numbers in to see what you can make work. But, I come up with you'll need additional off farm income to make the payments and for living expenses until your 68. 38 yrs old + 30 yrs = 68 [/QUOTE]
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