Posted by Joe Pro on July 30, 2013 at 11:36:37 from (204.54.154.68):
I know it's asked a lot if you can live off of farming, but I would like some real non biased input. I'm 21 years old, been farming with my grandpa since I could crawl. We have several tractors, as well as my grandpa does also. We have a chisel plow, disc, drill etc. We have a small combine but it's slow.
I would like some input as to what it takes to live off of grain farming. I have farmed several acres on my own but we've never lived off of it. We not the typical 21 year olds (me and my girlfriend) that are constantly bashed in this society these days. We just bought our first house.
Our equipment is in good to very good shape. Everything is useable, and my grandpa has a full line of grain- hay equip. We have the chance to farm 180 acres next year (hopefully). What can we expect for an honest profit from this. I know this is a question with no answer, but could we live off of this. We both work full time at the moment with great benefits but neither of us enjoy working for anyone other than ourselves. We have a seed rep, someone to spray, and several people who could custom harvest for us. We don't have children or a significant amount of debt. We would also like to raise some beef cattle. Per my calculations, I don't see why we can't profit around 40k from this per year (before taxes) Is this even a close est? Thanks for the honest input.
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