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Farm Business
Agricultural Matters
Has anybody ever got rich through farming?
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<blockquote data-quote="Dead Rabbits" data-source="post: 3907516" data-attributes="member: 70596"><p>Define 'rich'. Perhaps using net worth would be a better measure? Total assets - total liabilities = Net Worth. </p><p> 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?</p></blockquote><p></p>
[QUOTE="Dead Rabbits, post: 3907516, member: 70596"] 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? [/QUOTE]
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Has anybody ever got rich through farming?
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