More to life
Member
- Location
- Somerset
Really rich farmers ushally end up rich.
Has anybody ever got rich through farming?
- Thread starter DrWazzock
- Start date
Several have their accounts reported in the farming press and as you say they are doing allright. They have and continue to work hard. Its not easy money and a slight case of right place right time. I believe fortunes have also been lost in the poultry industry.
Weasel
Member
- Location
- in the hills
Fair point. The ones with old pick ups tied together with string and a coat to match will be better off than the ones with shiny new kit and 9 holidays abroad every year
Suffolk Serf
Member
- Location
- Bury/Thetford
Better to be a little something than a big nothing , ??
Bossfarmer
Member
- Location
- between Perth and Inverness
pigs? are you sure they have long term? was it not bad for a long time?
depends when in history, historically I would say a lot of people got rich through farming
^ this - made a few fortunes I think
Bossfarmer
Member
- Location
- between Perth and Inverness
would it be fair to say nobody got rich from growing grain or keeping sucklers?
- Location
- Ceredigion
How much is rich ?
And rich in cash or assets ?
And rich in cash or assets ?
Dead Rabbits
Member
- Location
- 'Merica
Define 'rich'. Perhaps using net worth would be a better measure? Total assets - total liabilities = Net Worth.
I completely believe it is possible to accumulate a high net worth through just farm income. I have met several people in their 50s and 60s who started with no family land and inheritance and now have a very high net worth (1 million plus) but not necessarily a high yearly income. This is what I am working towards. What is the point in having a high income only to pay more in taxes?
Accessible cash , £1 m in the bank .
- Location
- Ceredigion
1 m is peanuts today
Cash I said .
Dead Rabbits
Member
- Location
- 'Merica
If you have 1 million in the bank, the bank loves you, but why is it there? Is the situation better in the u.k.? Where the bank actually pays you interest? If they are paying 2% they aren't really beating average inflation so it is not earning anything. If they are paying nothing then you are losing money. Maybe Warren Buffet can afford to have 1 million n in a bank account but he did not get in his position by being foolish.
- Location
- Ceredigion
How much in assets
Someone stole £5 m from Stings account and he never noticed
Cash is king , always has been