# Help work towards my dream/retirement



## ford4wd08 (Oct 22, 2016)

Hello all,

My name is Jordan. A little about myself: I currently live in East TN. I went to UT and have my BS in Mechanical Engineering. I am an automotive Quality Engineer at a Tier 1 automotive supplier in East TN.

I grew up around Western KY/Middle TN and worked for my granddad on his cattle farm/stockyard before I went off to college. I am in East TN and plan on staying for some time.

I would like to get some part of the Ag life back. I have a good career, as does my wife, and would like to venture back into a cattle operation or hay operation. This is where I would like some help/advice.

We are currently building our new home in city limits (doing this for the proximity to work for my wife and good school system for my two boys), but I would like to buy some land within 30 to 45 mins of where I live. Probably 50 acres or less to start and would like to farm it in some way. I have no particular parcel picked out. I have considered two options, I can have a small cattle start up and buy all of the feed/hay for the livestock and stay away from equipment cost on the front end, or I can plant a hay crop on it and it harvest to sell. The later obviously has an equipment investment, but that would be some of the part I miss dearly. I can sit in a tractor seat all day long. That is one of my joys in life is running large equipment. I would like for this Ag part of my life to simply pay for itself or the land payments. A profit would be nice, but I want to break even as this will basically be a hobby farm. If I went the equipment/hay route, I am not afraid of older equipment. I am very mechanically inclined and can do most of my repairs myself. I am a stickler on PM as most try to be in the automotive industry. It always cost you much more in the end when you ignore equipment. I've seen it unfortunately in industry.

This is something that will be in the coming years. I would like to be able to do this by 2019 or so, but I would like to start planning now. I would have to finance the land. If I went the equipment route, I would finance it as well, but I will not purchase anything new for sure. I have been doing some research and see the FSA can be a resource. I know a good business plan and all is required. I am just looking for any advice from anyone on where to start with either of these ventures. Maybe I can accomplish both at the same time? I am not sure. I would like to do this a retirement activity when automotive wears me done and I'm ready to retire. Any pointers at all are welcomed!

Thanks,

Jordan


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## ozarkian (Dec 11, 2010)

Welcome Jordan.

FSA has a program for the beginning farmer that will make getting started easier. Do your homework,Understand your financial situation inside and out. Making the land pay for itself is a realistic approach. Lots of hard work and heartache is in store for you.

I think their is no vocation more noble than agriculture. After all, every living soul has to eat.

Good luck!

Stuart


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## Vol (Jul 5, 2009)

Focus on paying for the land with your current job. It is doubtful that you could pay for land and equipment in the beginning.....but you will reach a point down the road that you will be able to do that. You might make enough on hay (shares or leasing hay) to pay your taxes in the beginning, but that will be about all.

Be very patient and enjoy being a landowner in the beginning and when you cannot stand it any longer buy good used tractors and newer equipment. It will be a fun ride for you and the family.

Let the kids grow some corn or pumpkins in the beginning to experience lifes little joys with your sons and wife.

The most important aspect for you at this stage is acquiring the land and paying for it. Welcome to hay talk and E TN....it's a pretty good place to live. Go Vols.

Regards, Mike


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## r82230 (Mar 1, 2016)

Ditto what the Vol says and as far as cattle, they can be nice, BUT if you are going to have cattle, you would need a reproducing program, 40 to 50 miles wouldn't cut it my neck of the woods, during calving season. And buying/raising feeders from 40 to 50 miles, not in my neck of the woods either.

If you can carve out a little spot on the land for some wild life (even if you are not a hunter). It might help with getting the family back to nature somewhat.

Larry

PS Welcome to HT.


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## ford4wd08 (Oct 22, 2016)

Thank you all for the warm welcome. The land is obviously the biggest expenses. I will be going through my finances up and down and ensure that everything else is taken care of. My boys are actually 8 and 10 years old. I would love to get involved in some aspect of it by the time my oldest is a teenager. I think I can make all the things I want work. Just need to be sure I protect my wife and children financially. Lot to process but luckily I have time on my side. On the tractor and equipment side, I've already looked into what I think will work for myself. I have a lot of sentimental value to John Deere 4230, my grandfather sold his (it was neglected in some ways anyhow). I would like to own one myself. So equipment of that vintage is a crap shot, but I have no problems making repairs. I think the timing of breakdowns is what causes the heartache.


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## somedevildawg (Jun 20, 2011)

That last sentence is very true....you seem to have your priorities together. Good luck and welcome to haytalk...


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