My Dad sold me the farm on a Contract for Deed years ago. Sale price was property tax value and I pay 4% interest and make a mortgage payment to him every month.
If you want to use your farm as retirement income, you'll have a hard time finding a place to earn 4% on the money you'd get from a cash sale.
The hard part (in our situation) was the passing of the torch as the operation's primary decision-maker.
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Today's Featured Article - Stories From Old Farmer - by K. Pratt. Old Farmer, a.k.a. Dale Jensen began posting messages to our discussion forums at the grand age of 75. With extensive knowledge of farming and tractors, he valued the past and the ways that went with it. He shared these values with us until shortly before his passing. I spoke with Dale in his last days and requested his permission to share some of his stories with the readers of our magazine. He agreed, and provided the
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