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Really rich farmers ushally end up rich.
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.I know a poultry business thats done very well. I would say that its very profitable even today without counting its asset value and any diversification.
How do folks know what others are making. Do they see their accounts.
Cannabis farmers will be the richest I think, they don't get subs either
Better to be a little something than a big nothing , ??I know some who have borrowed heavily against their family's land and created very large farming businesses.
pigs? are you sure they have long term? was it not bad for a long time?Pig, peas, potatos, property. And some rampant 70s inflation.
I don't believe anybody has got rich purely through the business of productive farming.
There is always some other source of income or they make their money from the rise in land values.
Tell me I'm wrong!
Pig, peas, potatos, property. And some rampant 70s inflation.
Define 'rich'. Perhaps using net worth would be a better measure? Total assets - total liabilities = Net Worth.I don't believe anybody has got rich purely through the business of productive farming.
There is always some other source of income or they make their money from the rise in land values.
Tell me I'm wrong!
How much is rich ?
And rich in cash or assets ?
1 m is peanuts todayAccessible cash , £1 m in the bank .
1 m is peanuts today
Fair point. The ones with old pick ups tied together with string
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.Accessible cash , £1 m in the bank .
How much in assetsCash I said .
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.
How much in assets