First of all, it is great that you were able to work with your grandfather by helping him farm. It was probably a great time for the both of you. Few people get an opportunity to do something like that today. Those are memories you will keep and enjoy for the rest of your life.
Tell us about your present career situation. Trying to continue farming on the side can limit the time available to work overtime, to travel for work, or to take night classes to improve your skills. Those limits can hinder advancement in some careers. Being stretched too thin for both time and money can also be extremely hard on a marriage.
Have you crunched the numbers to determine if farming will pay you an adequate income or even a adequate wage for your time? Are you interested in diversifying into new crops and new markets to improve the farm income. Talk to your banker about what kind of capital you will need to have on hand to get started. Share crop rents are almost unheard of in the corn belt anymore. $300/acre cash rent and $10,000/acre farmland prices can be difficult to pay off when the weather is poor. Some accounting and finance skills can go a long way in making farming profitable.
Can you get started farming without help from your family so you can build up experience and a nest egg to purchase a farm in the future? Plan that you won't be able to hire unskilled labor and that you will need to pay what seems like top dollar for farm services. Most people are quick to realize that they will never get rich working for a farmer without a skilled trade.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
... [Read Article]
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