SDFarmer
Dryer sheet wannabe
Hoping to find some reassurance.
I’m 48, my wife is 45. No kids, insurance paid by her employer 100%. Her income 50k ish, mine can be zero, or 200k (hello Mother Nature) Current debt is 100k left on mortgage, other than that just 2 vehicle payments at about 8k per year. That’s where the easy part ends!
1.4 million in joint taxable accounts. Almost all in mutual funds. 45% US, 35% international, the rest minus cash in bonds in funds such as VGSTX. Yes, I’m overweight international.
She has 75k in an IRA, 19k in Roth. I have 17 in a Roth.
I’m also joint owner of a brokerage account with my father mostly made up of proceeds from the farm. 950k in that
200k in cash, mostly used for farm expenses.
The farm has 225 paid in full acres of land
In the process of buying another 160 at 6k per acre. (Already renting it for 165 per acre per year, so after a down payment it will be a wash in yearly payments compared to now)
Probably 600k in equipment.
Only current farm debt is 40k, pending purchase of land.
We hardly spend anything other than our vehicle payments. Never go out, rarely eat out, no vacations, no smoking or drinking….we’re boring homebodies lol.
I am the only child and sole beneficiary of my parents estate (farm, etc).
I’ve had a few lucky guesses investing and done well, but the chance taking in that is done. Just in funds for 99% of my portfolio now.
To finally wrap it up, I guess im just looking for advice. All looks very good at a glance, but I’d like to proceed with as little risk as possible. My wife has MS, so I’d like to make sure that we have enough for any possible future medical expenses. She’s doing well and only needs a cane on rare bad days, otherwise good with no help.
So would it be wise to decrease my portfolio risk to say a 60/40 or even 40/60? Do I keep on with the land purchase opportunity? Farming is fickle, and a couple of bad years can suck down the accounts if you’re over leveraged. At today’s rates, we could rent out what we have for roughly 35k per year whenever I decided to retire down the road.
Sorry for the long winded post. I guess I am just am looking for reassurance that we aren’t going to have to worry regardless of circumstance.
Thanks. I understand if that takes a couple of weeks to digest!
I’m 48, my wife is 45. No kids, insurance paid by her employer 100%. Her income 50k ish, mine can be zero, or 200k (hello Mother Nature) Current debt is 100k left on mortgage, other than that just 2 vehicle payments at about 8k per year. That’s where the easy part ends!
1.4 million in joint taxable accounts. Almost all in mutual funds. 45% US, 35% international, the rest minus cash in bonds in funds such as VGSTX. Yes, I’m overweight international.
She has 75k in an IRA, 19k in Roth. I have 17 in a Roth.
I’m also joint owner of a brokerage account with my father mostly made up of proceeds from the farm. 950k in that
200k in cash, mostly used for farm expenses.
The farm has 225 paid in full acres of land
In the process of buying another 160 at 6k per acre. (Already renting it for 165 per acre per year, so after a down payment it will be a wash in yearly payments compared to now)
Probably 600k in equipment.
Only current farm debt is 40k, pending purchase of land.
We hardly spend anything other than our vehicle payments. Never go out, rarely eat out, no vacations, no smoking or drinking….we’re boring homebodies lol.
I am the only child and sole beneficiary of my parents estate (farm, etc).
I’ve had a few lucky guesses investing and done well, but the chance taking in that is done. Just in funds for 99% of my portfolio now.
To finally wrap it up, I guess im just looking for advice. All looks very good at a glance, but I’d like to proceed with as little risk as possible. My wife has MS, so I’d like to make sure that we have enough for any possible future medical expenses. She’s doing well and only needs a cane on rare bad days, otherwise good with no help.
So would it be wise to decrease my portfolio risk to say a 60/40 or even 40/60? Do I keep on with the land purchase opportunity? Farming is fickle, and a couple of bad years can suck down the accounts if you’re over leveraged. At today’s rates, we could rent out what we have for roughly 35k per year whenever I decided to retire down the road.
Sorry for the long winded post. I guess I am just am looking for reassurance that we aren’t going to have to worry regardless of circumstance.
Thanks. I understand if that takes a couple of weeks to digest!