Activist: "Farmers are millionaires sitting on land worth a fortune. They can afford the inheritance tax."
Farmer: "How much did I earn last year?"
Activist: "I don't know. A lot, surely."
Farmer: "Twenty-two thousand. Before the tractor broke."
Activist: "But the land's worth millions."
Farmer: "On paper. I can't eat the field or spend it. The only way to turn it into money is to sell it, and then I'm not a farmer, I'm a bloke who used to have a farm."
Activist: "So sell a corner of it."
Farmer: "A corner doesn't work as a farm. You can't run a suckler herd on the bit that's left after the taxman's had his slice. You sell one field, then the next bill comes, then another field. It ends one way."
Activist: "The land only costs that much because you won't sell it."
Farmer: "It costs that much because a hedge fund three counties over wants it for carbon credits and a footballer wants it for the view. Neither of them has ever calved a cow at three in the morning. They set the price. I get the bill."
Activist: "It's still an asset."
Farmer: "It's a workplace that happens to be expensive. You've decided the value of the shop is the same as the wage of the shopkeeper. Come back in February and watch me not be a millionaire in the rain."
@dantypo Wholeheartedly agree!! My father’s motto was ‘work well and I will treat you well, work poorly and I’ll fuckin’ treat you poorly’. Seemed harsh at the time but looking back it was exactly what I needed.
That’s a follow from me
"Someday, all this will be yours…"
A young man in Iowa heard that line for over a decade.
Came back to the farm when his dad had a health scare. At the time, it was just for short-term help. He’d already started a solid career in ag retail after trade school because the farm wasn’t big enough to support two generations. But when he came back, he realized expansion could happen and his passion was the family farm. So he agreed to stick around.
He worked his tail off. Took a job off the farm to make ends meet, married a local gal, built a life there. The farm grew. They dreamed of taking it over someday.
But, "someday" was always just over the horizon.
Every time they got close to talking about a real succession plan, his parents resisted.
The goalposts kept moving.
"If we get 80 more acres, then we’ll talk…"
"If you can find a place to rent nearby, then we’ll talk…"
"If you buy some land of your own, then we’ll talk…"
"If we have a couple good years in a row, then we'll talk..."
But the talk never happened.
Eventually, with two kids and 10 years gone, they gave the owner generation a clear, respectful proposal for the future. And were shot down. Fast.
So he made the hardest decision of his life... he left.
Took a DSM job in ag retail and moved his young family to Minnesota. His heart’s still back on the family farm, but he finally put his family’s future ahead of a fading promise.
Unfortunately, the relationship with his folks has soured.
He told me this story, and asked me to share it, so others might hear it.
For awareness, not to place blame.
If you’re the next gen, don’t ignore the warning signs.
If you’re the owner gen, don’t let pride or fear kill the legacy you worked to build.
Succession only happens if someone’s willing to lead. And leadership means putting things in writing. Before it’s too late.
The chances of being beaten or shot to death by a person defending their home are reduced to zero if you choose not to break into people's homes.
Little safety tip for the day.
@bushcrafter79 Agreed, wholeheartedly! They can’t have my daughters either…. Both of my grandfathers volunteered for ww2, one refused to talk about his experience. The other simply said “hope you never have to go “ and once I had children he modified it to “hope your children never to go “
My father sold our last family home in 1992 for $248k. The current value listed is approximately $750k.
The existing owners refuse to pay my father for the additional value and will not give our family reparations nor acknowledge that it is our land.
Do you see how ridiculous these conversations are if we all tried to pull the, “but I was here first”, argument?
@bushcrafter79 I’ve been saying it for years… never underestimate the potential, resolve, ingenuity, commitment, problem solving skills, creativity, common sense, sheer fucking will and especially the ability to hold a grudge of our sons and daughters!!!