Starting a farm after retirement.

[jollystomper]

1We wish to buy a small tract of land, like 10-40 acres, and put some cows or sheep or ? on it primarily to reap some agricultural tax benefits for machinery, sheds, etc.

From my observations in real life and the comments on this thread, you might not have the right primary motivation for farming. If your primary reason is tax benefits, without any experience it is likely your costs will exceed any tax benefits you might get.

As others have said, you have to have a love for this type of lifestyle where all the time and effort you will have to put into it is a labor of love, regardless of cost or tax benefits.

 

[Rustic23]

This sounds like the best way to make a million in Vegas is to start with two! If you are doing it for the romance OK, but farming is a job. (Just ask a Farmer) I in no way would consider it 'retirement'

 

[Fedup]

I have an urban farm so I understand the urge. But too old to take care of bigger place. However, I intend to do intense gardening.

 

[dvalley]

I'd say go for it! I'm of a similar mindset (though likely won't be doing much of it). There are plenty of books, message boards and general info on Hobby Farming out there, start reading! There are also work/stay farm 'vacations' on AirBnB so do a few of those and see what type of farm suits you and what you can handle. Just don't expect it to turn a profit, most hobbies are expenditures but that's OK in my book if it's something you dream of doing.

Like with anything else there are going to be downsides but as long as you go in knowing them you'll be fine.

 

[ivinsfan]

I'd say go for it! I'm of a similar mindset (though likely won't be doing much of it). There are plenty of books, message boards and general info on Hobby Farming out there, start reading! There are also work/stay farm 'vacations' on AirBnB so do a few of those and see what type of farm suits you and what you can handle. Just don't expect it to turn a profit, most hobbies are expenditures but that's OK in my book if it's something you dream of doing.

Like with anything else there are going to be downsides but as long as you go in knowing them you'll be fine.

You go first and get back to us!!!

 

[dvalley]

You go first and get back to us!!!

Once I retire I just might (but I have other hobbies that take priority now). Although I've done enough research on Homesteading and Hobby Farming to know that it's well within my capabilities. We also had an urban backyard garden. Cattle is not something I ever had in the plans though. Btw, plenty of vlogs on YouTube too.

It's like people who say managing rental properties is a horrible idea, yet there are millions of people who do it successfully or those who say the stock market is a huge gamble but there are millions who are successful. I've always been the one to try and see for myself...on a small scale with a calculated risk.