Antifa and Black Lives Matter are now targeting farmers.
(twitter.com)
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It these days. A serious Ag tractor starts at $250,000. A combine STARTS at $500,000 and can easily get up to $1M with bells, whistles, and a couple headers. It took $2M in cash to plant just shy of 3,000 acres. That's not counting the $15,000,000 the land is worth these days. Farming is something you have to be born into frankly. And you really don't make any money until you get out of the business. That's because even if you clear $500,000 at the end of the year there's always a transmission that blows out and you are writing a $50,000 check for field repairs. Or you need to put up a new grain bin or something.
Hell, that $500k you talk of clearing? Most of it is probably going into the loans made pay off the equipment.
Depends. We were an old farming family and my father had spent a 30 year career and retired as an exec at a Fortune 500. So by the time he took over he had a nice pension to live on and plenty of cash with which to take over. When I took over it was a similar situation. I had sold a successful business and my wife is a lawyer so we had other income sources to live on and plenty of cash in the bank. But it got to the point where we actually make more money renting the ground than we did farming it. It's been weird the last year to get in checks and then realize we could go out and afford to buy a new vehicle or in my case I could start looking at buying a Cessna 206 to indulge my airplane habit. Which airplanes man...drugs would be cheaper.