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Turning a passion into retirement security.

Discussion in 'Random Ramblings' started by Carla D, Feb 13, 2019.

  1. Feb 13, 2019
    Carla D

    Carla D True BYH Addict

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    i was wondering if anyone in here has turned their passion of farming into a source of financial stability and means of self fulfillment? I have a really strong need to find a source of “stability” and personal fulfillment for my little household in the very nearby future that can last us through our retirement years.

    Since I became disabled about ten years ago I’ve struggled to find a means of personal fulfillment, and financial security. I have very recently discovered how much our “little farm” has. I think I’ve found a way to turn our “little farm” into a source of stability in the event of financial hard times. Any can be put into financial turmoil at any given time. All it takes is the loss of a job, loss of income source, or a family crisis. I honestly want to be able to put food on our table and feed into the bellies of our livestock, while providing a means of support should we or a family member find themselves.

    I have come up with a plan of sorts to get us into such a position. Has anyone else been able to do the very same thing using their passion for farming and herds? I have a fun little plan that I’m willing to share should anyone else be interested in doing something like this for themselves and their family.
     
    Last edited: Feb 13, 2019
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  2. Feb 13, 2019
    greybeard

    greybeard Herd Master

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    The 'fulfillment' part is relatively easy to obtain.
    But, "farming" for most people in the USA as it pertains to this discussion board is just an expensive hobby.
    I only know of a very few people on this board that can honestly say they provide even a majority of their financial or food needs thru farming.
    Farmer Jan..The Old Ram, a couple of the cattlemen that no longer post here probably...the rest?
    Supplement...yes. Provide the majority of? no.
    Financial stability based on farming? no.

    I do pretty good, but I don't fool myself. My cattle pay for themselves, pay the property taxes and most years put some $$ in my pocket but there is no way I would claim I could make it without outside income.
     
  3. Feb 13, 2019
    Carla D

    Carla D True BYH Addict

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    Hello @greybeard , I think I’m going to post my idea/plan. I might have written it wron earlier. But I do have definite goals and objectives. I’ll share them with you and whoever else may be interested. It’s going to take two separate posts as the only way I could figure out to share it is with screen shots. So here goes.

    61DAE42A-BFD2-4DC4-AEE7-4C9870C5CACE.png E93309DE-FCC7-468D-9508-51FD3560FEA5.png 19B3C0BC-9D2B-4EA8-B314-689C8A2EBFEE.png F271D820-B272-4D1E-A1EF-3978E476051B.png DA3D43C2-133A-460F-8CF2-9C1126DAFAEA.png A9908332-4B4F-4652-B5DC-180C5C2C6E72.png 12F64E48-25D4-420C-92B7-4607A35266FA.png 9E802784-5D43-496F-A0EC-4671AFC5FA9E.png DEC920AC-C119-4F6F-9F50-FA9FF321176A.png 6A4D55CE-7823-4A48-8B68-9DD04A646CDA.png There is a little bit more in my next post as well.
     
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  4. Feb 13, 2019
    Carla D

    Carla D True BYH Addict

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    Second part of my idea/plan.

    C1E6CB18-8386-4600-A06A-CA5DF710FF11.png 9AEC087C-BACE-441F-9A93-34991C24FAA6.png 996AEA7A-95B3-4379-A3C6-5F4A3B3837F2.png AF9A68D8-2A7F-44EC-A259-D5123538D679.png 9A40A053-0A7F-4E6D-A520-0F765FA6F8F0.jpeg
     
  5. Feb 13, 2019
    greybeard

    greybeard Herd Master

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    An interesting plan and certainly lofty goals, but unless I missed something from all that, the over riding question, is how you are going to pay for it.
     
  6. Feb 13, 2019
    Carla D

    Carla D True BYH Addict

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    Kinda hoping we can grow adequate crops to supply animal needs. And breedable livestock to throw us a replacement baby and milk as needed. We will need a mortgage to buy our little farm. But we already have much of the working machinery needed to do small scale farming. We need a planter, picker, possibly taller elevator. I’m sure there’s a bit more. But we find great pleasure in buying older, fixable, usable equipment. I’m guessing the majority of our equipment is just about as old as we are. It will take proper care, maintenance, storage and upkeep to keep them running. But we see no need in buying a newer used piece of equipment that costs 10’s of thousands dollars when a reasonable $300-2000 piece of equipment will do the job. We don’t plan on owning a large amount of crop land. Just enough to plant what we need vs. going to the feed store, local elevator, or buying hay/straw.

    Do you think what we have planned as far as equipment and animals are concerned that this could work with our broken in machinery and breedable livestock?
     
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  7. Feb 13, 2019
    Carla D

    Carla D True BYH Addict

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    And as far as crop land goes we can always rent or lease a little bit more land if needed. Plus if we pasture/graze/feed our animals that would cut back at least a little bit of gross/grains we need to grow. That leads to smaller amount of land needed to grow crops.

    Am I thinking at least somewhat along the right lines or am I thinking too simplistic? Honesty please. At this very moment we are renting. Renting livable space, farm space, and some storage space. We own what equipment we are using. At this point in the plan it’s not too late to do better thinking or look into other options/plans. Right now we don’t have a whole lot to lose. It’s not like we own 150 acres, grand farmhouse, large farm, or even 100-200 head to lose.

    Also when I’m talking hard times, I mean really hard times. Like the Great Depression as a whole. Not just personal tough times. Times when it’s hard for most anybody and everybody are struggling to put food on their table and feeding their animals tough. There is also the option of selling livestock for much needed cash in order to prevent losing a possession. Hard times when neighbors and families trade what they do have an extra of to get something they need. For some reason, I have a feeling we are headed to that kind of financial hardship.
     
    Last edited: Feb 13, 2019
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  8. Feb 13, 2019
    B&B Happy goats

    B&B Happy goats Herd Master Golden Herd Member

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    Carla, i feel the same way about the future but am not a "prepper or doomsday " person. We keep our goats , chickens and rabbits to breed and sell to pay for there feed, and after almost two years they are just starting to give us a few $$$.... we don't have a mortgage, vehicle payment or any bills other than utility bills and internet, grocery and insurance. ...my opinion may not be worth much, but if you keep to the smaller side, with enough to provide for you and your family, you will reduce the STRESS factor....and that my friend is better than money in the bank.
    You are disabled for a reason, don't add more stress, find a afordable place where you can raise enough for yourselfs....sadly... unless you have some big pockets......., life as a full time farmer ...making a livable income is over...we can't afford to fight commercial corporate owned farming. Do for your family, go small, stress less, live as thrifty as you can and save a little money for retirement days.
    Your idea is champagne. ...but your purse like most of us , has a beer only budget....enjoy the beer :hugswhy make life complicated ? Enjoy the simple moments instead of beating yourselfs up for a huge mortgage payment, .....keep it simple, enjoy your child, your animals ...each other
     
    Last edited: Feb 13, 2019
  9. Feb 13, 2019
    Baymule

    Baymule Herd Master

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    I lose money selling eggs. It pays for part of the feed and that is about as good as it gets.

    I lose money on the sheep. I now have 9 ewes, just had 11 lambs with 1 more ewe to lamb. This might be the year I break even or maybe clear a little if I can sell the ram lambs (7) to individuals, slaughtered as cuts of meat. We'll see.

    I make money of feeder pigs. Not a lot and I don't want to raise 50 hogs to make more money.

    4 horses are a hole in my pocket that I dump money in. They give me great joy and I love to ride.

    I raise a garden and can, dehydrate and freeze the produce. I don't raise everything we eat, but I knock a hole in the grocery bill.
     
  10. Feb 13, 2019
    Carla D

    Carla D True BYH Addict

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    You opinion is important to me. Maybe my plan is on the grand/champagne but I’m hoping to find some way to at least insure that out family will always have food in their bellies. That is the absote minimum I’m willing to accept.
     
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