Just remember the goal is to make money on the venture and it at least sounds like you are profitable as you already do own some assets (tractors and equipment) and you are paying taxes on that profit. That right there is impressive to me for a high school age kid. You already have way more figured out than they do - frankly they operating off of daddy's coat tails.
Heck when I was your age (in high school), I struggled to buy my own clunker car and that was the only asset that I could muster to purchase on my own and it was a $400 clunker. While I did have free use of dad's farming equipment back then (sorta free as I was also free labor on his acreage too so really the use was more of a trade). I did otherwise have to pay for all my own farming inputs myself: land rent, fuel, seed, fertilizer, spray, etc. Those were tough times back in the 1980's and it was difficult to make money. There were years that I was simply glad to break even so I could try again the following year. Most years I usually lost a little bit of money. Once it got to be a continual loser, I eventually got out. Dad continued on as he loved it and there were some tax benefits for him at least on some years for his real job so even when he lost money he often at least broke even with the tax benefits.
That said, If either of us would have had to count on farming to eat, house, and clothe us.... well we would have starved.
In closing, I think you are doing much better than you realize. So the question you need to ask yourself is: Do you want to continue to be profitable and continually sustainable with farming? Or do you care more about what those other simpletons think? Trying to impress them will only cost you money and gain you what...their blessing?
This post was edited by rankrank1 at 07:51:20 07/05/13.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
... [Read Article]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
