4 ms·
I'm in a fairly similar situation, albeit on a smaller scale (6 acres) and I do this for reasons you already mentioned (nutrition, inflation hedge) plus climate
by dakna 6y ago
I'm in a fairly similar situation, albeit on a smaller scale (6 acres) and I do this for reasons you already mentioned (nutrition, inflation hedge) plus climate change. I have years of experience growing veggies in my backyard and I agree, it takes a lot of money to get the same quality food elsewhere, and some specialties are out of reach. It's also a lot of fun.
I'm also planning for retirement in the 2030s and I'm trying to funnel my software engineering money into a small productive farm/market garden that produces enough to make a small profit and hire some help when needed. I haven't found a good way to offset my initial investment costs as a beginning farmer against my regular income from my main job, but I just started to learn more about Schedule F Profit/Loss from farming. Any pointers on what to read or CPA recommendations are highly appreciated.
Greetings from Hardiness Zone 6, which I assume will turn into Zone 7 within my lifetime.
- lettergram 6y agoFrankly, while I've bailed hay, grown my own food, etc. I'm also unfamiliar with this scale - just decided to go for it. I already have someone willing to harvest for me and split the profits 50/50. I'm offering them a 30(me)/70(them) split on the condition they teach me to run their equipment, explain what they know, etc. There's not really a guide on starting a farm, you need to find someone who knows and work with them. I also have family members in the cattle industry, construction and one family member specializing in maintaining prairie land. Speaking with them I am working to figure out the best way to maintain and improve the farm. For instance, I have a cabin on the property from the civil war period; we're going to repair it and put a new roof on etc.