Posted by Veronabob on March 24, 2021 at 21:36:13 from (174.238.7.123):
In Reply to: Coming to a Cross Road posted by Bruce from Can. on March 24, 2021 at 07:03:08:
Just a couple of thoughts on the big picture. You have worked hard all your life and have created what can be a very nice secure retirement. Risking much of this by taking on a lot of debt at your age might be a gamble bigger than you really want to live with. In this time of rapid change in so many areas of business and life that are beyond our control none of us can predict what things will look like 10 years down the road. What is to prevent a whole new group of regulations coming down the line which might require even more debt.
Just a thought, maybe sell the farm closest to the city at what is probably a very good price, invest the money and live on the income from it. Let your son assume ownership of the other farm and see how he does on his own without a huge debt load and you can still help him working there as much as you like.
Remember the time to sell is when you have a buyer. I remember what transpired back in the 80's when we had 20% interest rates and effect on farming. All this free government money is going to have an effect on inflation and interest rates down the road and having liquidity may be very valuable to us.
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