new farming

[tamersinger]

So I am thinking of quitting my office gig to move closer to my wifes family in western ohio. I have always been enamored with farming as grandpa and great grandpa did it (soybeans and corn) in western il.

Am I crazy for trying to start up farming on the north side of 30? we would probably buy 40-80 acres and try to lease more but everywhere I have read says you cannot be profitable?

 

[farmeratheart]

Tamersinger,

Follow your heart . My personal experience as a kid and young man is that there is no better way to grow up and to live than farm life. That being said, there are lots of better ways to make a living. My Dad farmed for more than 70 of his 96 years and his favorite saying was that “No one could afford to eat if farmers were paid by the hour even minimum wage.

Good luck

Frank

 

[Jstpssng]

Before you give up your day job, consider writing a good business plan. There will always be things that you can't predict but a plan will help to cover the major things to expect.

 

[BRMyers]

My family has an 80 acre farm. If you are planning on that being your sole source of income, you most likely will be struggling. My grandfather worked the entire time he farmed. My dad is now retired and farming the ground more so as something to do and making a little extra spending money, but he would not be able to survive on that income alone.

With that being said, I really enjoy helping dad with the farm and have a lot of good memories of being there with grandpa. Currently, we share crop out most of the farm because of buying the upgraded equipment to be able to farm and harvest is outside of our price range. Grandpa did it by working a full-time job, grandma running the farm with his help, and them raising livestock and selling it for additional income. That is how they made their little 80 acre farm work.

Here is a link to an article about the cost of starting a 500 acre farm. How Much $ Does It Take to Become a Farmer? | Successful Farming

 

[drssg]

Have you calculated the finances of how it would work? I'm not a farmer, but I own and lease some farm land in Ohio. From what I've seen, you might be able to net about $360/acre/year. If you own 50 acres of tilled land, that about $18,000 of taxable income per year. That's supposed to pay your basic living expenses, mortgage, and initial equipment investments.

If you lease more land, you can get more income, but plan on about half as much net income per acre after rental fees.

It would be good to talk with real farmers, if you haven't already. Maybe my numbers are off.

 

[Wagtail]

Am I crazy for trying to start up farming on the north side of 30?

As an old adage goes: The best time to plant a tree is 20 years ago. The second best time is now.

If you can, go for it.

:tree:

 

[bigtiller]

So I am thinking of quitting my office gig to move closer to my wifes family in western ohio. I have always been enamored with farming as grandpa and great grandpa did it (soybeans and corn) in western il.

Am I crazy for trying to start up farming on the north side of 30? we would probably buy 40-80 acres and try to lease more but everywhere I have read says you cannot be profitable?

Believe it. Jumping into it this late in your life will be a challenge.
To quit your day job to farm is the opposite of what real row-crop-farmers are doing. It sounds like a sweet deal to have the government send you a tariff aid payment but it isn't enought to make you whole, it just lets you go broke slower.

 

[Big Barn]

Find something else fulfilling that you will enjoy.

Losing money quickly gets old pretty darn quick.