tag:blogger.com,1999:blog-27951078.post1619973840720356736..comments2024-02-02T05:45:33.724-06:00Comments on Incoming: John Phippshttp://www.blogger.com/profile/03245790061133614986noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-27951078.post-12625729820570044222010-04-20T22:15:23.508-06:002010-04-20T22:15:23.508-06:00the last sentence you wrote,true disasters immune ...the last sentence you wrote,true disasters immune to money solutions, you got that right for sure. certainly had our share, planted till 10, so anything else i write will be pure nonsense ACAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-27951078.post-13156145179274983602010-04-20T05:33:28.716-06:002010-04-20T05:33:28.716-06:00AC:
I think we share many common values. There a...AC:<br /><br />I think we share many common values. There a thousands of ways to grapple with the future and be happy, we're all trying to find one.<br /><br />FWIW, our "succession" plan evolves and is certainly not one to be used as an example, but I suspect all of them are similarly unique.<br /><br />I think you're going to be reading more and more about this as it is the topic of the decade until us boomers get outta town.<br /><br />My approach centers on this century-plus effort to accumulate and pass on wealth to protect a family against some catastrophe, but in truth the older I get, I find the true disasters to be immune to money solutions.John Phippshttps://www.blogger.com/profile/03245790061133614986noreply@blogger.comtag:blogger.com,1999:blog-27951078.post-53418645580233134432010-04-19T21:08:49.906-06:002010-04-19T21:08:49.906-06:00john, i agree, the way you've been open and ho...john, i agree, the way you've been open and honest with your sons and have established some ground rules for use of farm assets and employment possiblities on the farm seems fair. i also admire the way you're putting your off farm income back into the farm. Sharing that with your sons and future generations. most of the farm operations in this area that are able to prosper have an older generation that shares with the younger generation by reinvesting in land , machinery, or cheap cash rent to their kids, and off farm income of some type is also quite common, some call that unfair competition, i just call it people who have done well investing in farming, nothing wrong with that. just the way it is, ok, sorry i wrote so much, these succession planning articles in the farm mags. drive me nuts, ok....ACAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-27951078.post-13004864095473911902010-04-18T08:13:47.524-06:002010-04-18T08:13:47.524-06:00Sorry, didn't realize I was belaboring a previ...Sorry, didn't realize I was belaboring a previously discussed topic. Also didn't mean for it to be a personal criticism but the larger point remains, those that already have, get more from public funds and government. Not just in agriculture but agribusiness, oil companies, banks, defense contractors, the list goes on and on. For decades, public funds and regulations have been selectively applied by politics to stack the deck and tilt the playing field giving advantage to the already advantaged. So now we have problems with insurmountable barriers to entry, with too big to fail, ongoing industry specific life support and even bailouts in a whole range of businesses. This is not what the American economic system is supposed to be about.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27951078.post-59297522674038710052010-04-18T06:27:45.194-06:002010-04-18T06:27:45.194-06:00John here in Ontario we are seeing as a result of ...John here in Ontario we are seeing as a result of gov't deficits that they are either not funding farm programs as well and that it it hard too extract money from a gov't that is "broke" too give it too "millionaires" as few full time farms have a net worth less than a million....big surprise for the green energy proponents this week when it was announced electric rates will increase this spring by 15% thanks too highly subsidized wind and solar projects...at a church function last night and people thought with all the alternative energy our rates would go down,,now they have some second thoughts about there love of wind-solar power...small solar projects get 20 yr. 80 cents kwh. guarantee when "delivered too your house rate" is around 6 cents kwh...counted 40 wind turbines on way too friends church 20 miles away and a few look nice --40 look not so good..in a 10 mile radius of us there are 1,000 proposed solar-wind installations in the most productive and diversified farming area in Canada--same latitude as northern California--regards-kevinAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-27951078.post-29677257572722745282010-04-18T05:52:30.970-06:002010-04-18T05:52:30.970-06:00Nothing wrong with off farm income--you have alway...Nothing wrong with off farm income--you have always been one to follow your heart(why are you farming? I have wondered that since your FB days)--the synergies and devotions of families is something that cannot be measured but can be observed! You know how blessed you are and live it everyday--keep it up-camel cowboyhttps://www.blogger.com/profile/16923785707000730834noreply@blogger.comtag:blogger.com,1999:blog-27951078.post-43626393950622020152010-04-18T05:45:31.134-06:002010-04-18T05:45:31.134-06:00Anon (last):
(Sigh) I can only assume you are a ...Anon (last):<br /><br />(Sigh) I can only assume you are a new reader. Most everyone else has long since tired of my campaign to stop sending folks like me subsidies -if not stop them altogether.<br /><br />Select "farm program" on the label list for some posts droning on and on about the absurdity and immorality of our farm program.John Phippshttps://www.blogger.com/profile/03245790061133614986noreply@blogger.comtag:blogger.com,1999:blog-27951078.post-48281965693697538982010-04-17T18:56:10.627-06:002010-04-17T18:56:10.627-06:00John: Do you really think it fair for a farm famil...John: Do you really think it fair for a farm family that has this kind of net worth "enough accumulated to fund the rest of their lives if necessary" to be receiving taxpayer assistance in the form of subsidies from farm programs? I think it is extremely unfair and part of the reason this country is in trouble. Those that have, get more and concern about hypocrisy, well as long as I get mine I don't care about the country and it's future. It seems that we all behave like a bunch of lawyers now and our behavior endangers the future of the USA. If this country falls we only have ourselves to blame.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-27951078.post-19369779112335547732010-04-17T05:43:11.411-06:002010-04-17T05:43:11.411-06:00AC:
I do have another son off-farm. He is fully a...AC:<br /><br />I do have another son off-farm. He is fully aware and knows THE investment will be the farm. His family does well as professionals in technology (OK - engineers).<br /><br />He also has the same financial relationship to the farm: take from it what you need when you need it. Otherwise leave for invested there for the future and emergencies. Aaron understands Jack can return whenever he wants for whatever reason and the farm will support him somehow, just as it does him.<br /><br />Both know there is now enough accumulated to fund the rest of their lives if necessary. The duty is to hand that same luxury backup to the next generation.John Phippshttps://www.blogger.com/profile/03245790061133614986noreply@blogger.comtag:blogger.com,1999:blog-27951078.post-78708920419591259942010-04-16T21:53:55.535-06:002010-04-16T21:53:55.535-06:00john, just a question for you, what would you do w...john, just a question for you, what would you do with your off farm income if you had a couple of nonfarming children ? would it be fair to them? i forgot my password, so call me ACAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-27951078.post-87281686952047132892010-04-15T06:00:29.701-06:002010-04-15T06:00:29.701-06:00cc:
You make working off farm sound like a bad th...cc:<br /><br />You make working off farm sound like a bad thing. What should farmers do with excess time? I get this all the time, and I think it is a function of what I do. If I were running trucks or an excavator on the side, I don't think folks would consider it "unfair" competition. I'm just not much good at those things.<br /><br />all:<br />Actually I seem to have missed my point. The gist was not taking money from the farm for retirement would seem to be a useful competitive strategy - and it's what I'm doing. (i.e. more land owned)<br /><br />Retirement with assured income is a recent luxury and feeds the ego of oldsters - the much vaunted independence. But it could mean farms like mine might make it for another few generations if we limited our expectations.<br /><br />The idea of the old being dependents on children is part of the yeoman culture of farming, and I think it has some merit.John Phippshttps://www.blogger.com/profile/03245790061133614986noreply@blogger.comtag:blogger.com,1999:blog-27951078.post-67345524958700736792010-04-15T05:32:19.273-06:002010-04-15T05:32:19.273-06:00I think you are whining a bit too much--are you sh...I think you are whining a bit too much--are you sharing with the farm your FJ paychecks and speaking fees? You have already developed a system to surive without a real pinch of profits-camel cowboyhttps://www.blogger.com/profile/16923785707000730834noreply@blogger.comtag:blogger.com,1999:blog-27951078.post-81295489901200278342010-04-13T11:22:18.381-06:002010-04-13T11:22:18.381-06:00The idea too start funding retirement is a great f...The idea too start funding retirement is a great financial plan but when you are 30 years old with a couple of kids and huge farm debts-payments it can be hard too convince spouse,family,banker,ect. that my IRA comes before other ... completely agree on a "financial plan" but in farming you have too constantly adjust....we survived the 70's and 80's issues and have done OK and thought our business plan is too "stay the course" and then the last 3 yrs.in hogs have cost us 10 yrs. of profits and I fear cash grains are next with the land prices,rents,machinery costs,ect..-regards-kevinAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-27951078.post-13385544495061567012010-04-13T07:23:49.312-06:002010-04-13T07:23:49.312-06:00John:
This is why the best advice to the new gene...John:<br /><br />This is why the best advice to the new generation of farmers is to start funding their retirement now!Anonymousnoreply@blogger.com