Where do you put your profits?

The kids are NOT ENTITLED to inherit anything.... it is the parents job to get them raised up and to become productive members of society
Well Said. One of the biggest problems we face today is that people have forgotten this.

We are leaning towards leaving what we have to the grandkids. Unless something happens to us the kids should be nearing retirement by the time we are ready to cash out. If they haven't made it by then I'm not sure they deserve anything. I definitely wouldn't be opposed to leaving everything or wording a Trust so the one who shows interest in the ranch gets to keep operating it.
 
What's profit? Is that a new cow vaccine?
Be great if it works effectively to avoid the bankruptcy toxin! Although on second thought, if it was that easy, everybody'd be using it, and pretty soon the whole industry would become vaccine-resistant. Have to keep some risk/challenge involved, or it's just no fun!
 
Well, there's that. But I'll be 55 in a couple months, and a person needs to think about how long he will be able to do this, and what kind of shape he wants to be in should he want to travel around some in retirement.
Wife and I started traveling back in 2017 so we could see most of what we wanted while we're still able bodied.
 
My nephew and I live and work on farm. Cattle are our only income, so they pay the bills, pay for repairs, pay for improvements, whatever we need.
Phil has been getting hired by other farms for sale and show cattle clipping/ fitting giving him his own $$.
I could not do this on commercial cattle. And, everything is paid for, no loans. Major difference for people starting out.
Hubbies and I always had the mindset to pay for any purchase as quickly as possible.
 

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