Is Farming Rich?

Question

Ok, my cousins live in Idaho I live in Utah everytime I go visit them they're land is huge don't know the size specifically or anything but it's huge they have alpalpha if that's how you spell it black angus and regular cows no milking ones those long sprinklers and onions, tomatoes, wheat, all that stuff and everytime they visit they get everything that they want so im guessing their rich let alone their house is 1.4million dollars so the question is if I were to work with my cousin when he grows older and my uncle since he owns the farm would I get rich for like inhereting land if I worked with them or something just wondering. but Im pretty sure their land is atleast 150acres and even bigger probably? thx if you know farming is rich or poor.

Answer 1

go to school and be a lawyer. 150 acres is peanuts. your uncle is not going to split up his property and give you some when the farm is the inheritance of his own children. farming is hard work and if a man can clear enough money at the end of the season to be comfortable he is indeed fortunate. and the house is worth nothing unless he sells it, and i can't see him doing that,  can you?

Answer 2

In my country, there are many people succeed by farming.  Farming need good support, patience, knowledge, modal and also good management

Answer 3

Farming is dependent on good weather and crop prices. Your uncle has diversified to have different crops to sell but if there is a drought he could lose an entire crop year.  In a climate suffering global warming farmers are going to have a tough time.

He will also probably will his farm to his family and not a niece.

Go to school, stick with the lawyer idea and forget farming.

Answer 4

Some farmers are very successful and make money.

Some.

For most farmers its all they can do to break even.

I would be willing to bet your uncle has A LOT of debt.

Answer 5

it depends....i mean some farmers can do really well while others just barely scrape by. My guess is that the market changes a lot and thus farmers must adjust

Answer 6

If you want to farm just to get rich you'll probably fall on your face. You about gotta have it in your blood and really want to do it otherwise it just won't work you only get out of it what you put into it. Just coming back to inherit seems very greedy make your own money don't try to take down the farm.Whats the matter with you I mean really?

Answer 7

I live in Idaho (close to Blackfoot).  If your Uncle is running alfalfa, onions, wheat, tomatoes, and black angus, they have a LOT more land than 150 acres.

They probably have 3000 or more acres.

I'm suprised about the tomatoes....I've not seen tomato fields here before.  Perhaps they live in the "bannana belt" near Boise?  Warmer weather there, which would allow them to grow tomatoes.

If you are not growing up on a family farm, you are going to be a real long shot at having a chance at making it as a farmer.

Since the children are being given everything they desire, they will have little to no interest in working the farm as adults.  Being given everything does not develop a work ethic.  More than likely, your cousins will sell the farm to a developer, after their parents pass on.  They will probably be able to realize several million dollars in the sale of the land, without having the work, and risk of being a farmer.  They are being taught instant gratification, and that is what they will expect from any inheritance.

You should go to school and earn your own way, via your own education.  Do not try to depend on hitching a ride on the coat-tails of your Uncle.

I'm wondering if your Uncle has one of the "six big" last names here in Idaho?  (Do NOT post his name!)  There are six major farming families here in Idaho.  They are multi millionares.  They came over as Mormon pioneers and were the VERY FIRST farmers to settle Idaho.  They control everything, from the public schools, politics, water rights, police depts, ect.  

Water rights are a BIG DEAL here in Idaho.  Ask your Uncle how old his water rights are.  I bet they date back to the 1800's.  Last year "water call" went out in my part of Idaho (Bingham County) to the 1970's.  That means every single farmer who has water rights dating back to 1970, or newer will have to shut their water off if we have another drought year.

It is very nearly impossible to make a go of it as a brand new farmer.  The price of land here in Idaho has skyrocketed.  So land that you can only make $400 an acre from is selling for $3000-$10,000 an acre to land developers who build houses on it.  You cannot compete with the prices they are able to pay for the land.  

It would take a farmer FAR too long to have the land pay back its purchase price, if the land is only able to bring in $400 per acre, per year, and you have to shell out lets say $5,000 per acre.  

In most of Idaho you can no longer break out new ground, and remove the sage-brush, and start a brand new farm with un-improved land.....there is a 10 year moritorium on new agricultural wells in much of the state.

By the way, being rich, and having money does NOT mean you are HAPPY in your life.  Being wealthy makes life easier, and your able to pay your bills, but it does not mean you are HAPPY.  I grew up the daughter of a multi millionare.  I know what I'm talking about.  What do I do now that I'm an adult in my 40's?  I raise meat goats, and meat rabbits.  I work my rear off on our farm.  No, I did NOT inherit ANY land, or money.  I've worked for everything I own, myself, and now with my husband.

Pursue your education.  Then pursue your interests and passions in life.  Do not chase money....it will not leave you happy in the end.

~Garnet

Homesteading/Farming over 20 years

Answer 8

You seemed to be enchanted by the size and value of things.  If you want to work on a farm, find one close to where you live and go work after school or during the summer time to earn money.  While you are doing this you will learn life skills that you do not attain sitting in front of the TV.  Challenge yourself, work hard, ask questions, learn the trade.  Go with your life's calling, yet be sure to include a college education.  Maybe you will not work directly in agriculture production, yet there are numerous occupations that need talented and technical people to support ag production and many of these require a college education, so prepare yourself to go.  

Buy a small parcel of farm early in life.  Borrow the money and diligently pay it back.  Then buy another small parcel of ground.  This is a sound investment, but be sure to understand the land values and location of your purchase so that you will work into a good deal.  If you pay attention to your financial dealings, no one can take the land away from you no matter how bad the economy depresses itself.  Work out a deal with your uncle and ask him if he would consider a "contract for deed" on a small parcel of ground.  Learn about real estate, take real estate classess.  Go work for a real estate agent who deals with farmland.  You will one day be as prosperous as the next guy, but you have to work hard.    By the way, farmers do not farm for the money... they farm because they have a love for growing seeds, cultivating the earth, taking care of cows and their offspring.  Money is really secondary but will follow if you do a good job.