Retirement Options

TJ5

Member
Livestock Farmer
Due to minor ill health and couple other issues i'm considering the future.
200+ acre upland farm, 30 cows 5-600 ewes
I'm early 50s, couple years left on mortgage
One child flown the nest and doing their own thing
I have interests outside farming and could be a chance to visit friends and see the world

Meadows mostly reseeded and in decent condition.
Pastures decent could do with some improvement


Sell it all - Don't really want to leave as i do like living here

Share farming - Don't know enough about it to consider that route

Rent land - Be that as a whole, not ideal if i stay in the house, or in parcels

Keep some land - Maybe the rougher areas to run a few sheep just at a slower pace.
Plenty of drains and fences to sort and hedges to lay if i feel inclined
Might even get on top of all the nettles in hedge bottoms

Need to sit down and work out what income i'd like to achieve
So thoughts or other things to consider
 

Formatted

Member
Livestock Farmer
Look into the share farming more. Don't dismiss it just cause you don't know about it.

200+ acre upland farm, 30 cows 5-600 ewes

Realistically is there enough of a pie to split? You might end up with some young poor sod who works his socks off but isn't fairly rewarded for it. Its not like a job, there would be real risk for that share farmer. Is there a neighbour that would rent it?
 

Fendt516profi

Member
Livestock Farmer
Location
Yorkshire
Like he said, rent the ground out to a nice young person who’s looking for a start and enjoy living there and maybe giving them a bit of help and advice at times.
Needs to remember the nice young lad won't be able to come in a pay the top wack rent that a established person will. But to give a young person a start and be able to give advice when asked for would be good
 

Tim W

Member
Livestock Farmer
Location
Wiltshire
Realistically is there enough of a pie to split? You might end up with some young poor sod who works his socks off but isn't fairly rewarded for it. Its not like a job, there would be real risk for that share farmer. Is there a neighbour that would rent it?
A share farming agreement doesn't have to be 50/50 split
It can be weighted in favour of the new working farmer

If for example you were to share farm the entire outfit, lock stock & barrel with someone the pros may include
1) Allowing the present farmer to come back to the farm if his new lifestyle doesn't work out in the next 5 years?
2) Allowing a small return on capital
3) Allowing a new farmer to get a start & gradually buy into the farm
4) Making sure you have some input into the farm you have built up

Share farming agreements are just a blank piece of paper that 2 parties list their ideas/wishes/priorities on and then figure out how it could work to everyone's satisfaction----there are no rules
 

holwellcourtfarm

Member
Livestock Farmer
Plenty of us older farmers are in a similar position. I'd love to see that used as the way in for keen youngsters.

With the right mindset a business can be created that can pay a good return to all parties if you start from a blank sheet and look at all the income opportunities now rearing their heads.

I'm sure I'm not the only one who's discounted good income options in the past just because I didn't fancy the compromises i'd have had to make. With new blood coming in they could be happy to do those things that just didn't tick my boxes, to the benefit of both.

Difficulty gaining access to land is the biggest hurdle facing new entrants today. You have the opposite problem, land you don't know what to do with. There's space in the middle to make it work if you can find the right person/ couple.
 

Anymulewilldo

Member
Livestock Farmer
Location
Cheshire
I have rented 2 such farms in the last 5 years. Both times the landlords approached me first. They’ve known me since I was a glint in my fathers eye type of thing.
they have both taken a form of retirement,
1)they keep the fences in order (I help if needed)
2) they keep the noxious weeds in order
3) they maintain any other infrastructure items water troughs etc.
My side
1) I spread muck over the whole acreage every year,
2) graze only our own stock
3) keep the job tidy.
They claim the BPS as they are still maintaining the land, just too old too actually run the stock themselves. I pay a sensible rent which provides them an income but doesn’t cripple me and create the need too plaster everything in Nitram to scrape every penny out of the soil. If either of them want something specific doing they just ask and I work it into the system.
it’s all signed up so that if they change their minds I get 6 months notice too quit.
I think it’s grand. They are both old fellas who worked their balls off too buy and farm their farms. They don’t want too leave but can’t manage livestock alone any more. I get the land and the added store of knowledge that they have accumulated with regards too that land. I.e. where it lies wet, which fields stand hard grazing in the spring without affecting summer growth etc. They both come out too see what we are doing and offer to work gates or block gaps when we’re working there. One has a brilliant cattle handling set up so funnily enough the suckler cows live on his farm!
there’s plenty of ways of doing it, this works for me without us both having money intertwined in a proper share farming agreement.
 

glasshouse

Member
Location
lothians
Due to minor ill health and couple other issues i'm considering the future.
200+ acre upland farm, 30 cows 5-600 ewes
I'm early 50s, couple years left on mortgage
One child flown the nest and doing their own thing
I have interests outside farming and could be a chance to visit friends and see the world

Meadows mostly reseeded and in decent condition.
Pastures decent could do with some improvement


Sell it all - Don't really want to leave as i do like living here

Share farming - Don't know enough about it to consider that route

Rent land - Be that as a whole, not ideal if i stay in the house, or in parcels

Keep some land - Maybe the rougher areas to run a few sheep just at a slower pace.
Plenty of drains and fences to sort and hedges to lay if i feel inclined
Might even get on top of all the nettles in hedge bottoms

Need to sit down and work out what income i'd like to achieve
So thoughts or other things to consider
Find a good young couple, sell them the farm and lend them the money to buy it.
Charge them 2% interest and give them a decent chance
Go and travel the world
 

robs1

Member
If you want to travel then you dont want any stock, we are looking at a similar situation although I'm ten years older, income is the issue obviously, we are lucky that we have a few let units which will provide our pension that might be harder if you are a bit away from town.
Main thing is go for it you only live once and you're a long time dead.
 

Dry Rot

Member
Livestock Farmer
I am another in a similar position but on only 30 acres. A sharer would get the use of the acreage and could get a full range of machinery too. But where are these eager young farmers? Renting out doesn't seem an option with the SNP muttering about giving tenants the right to buy and I've tried short term lets.

I admit to being a bit fussy. I have five years of college and university in land management behind me as well as a professional qualification. I don't suffer fools gladly! It could be helpful if someone or some organisation could set up a sort of marriage bureau. Frankly, from past experience, I would not entertain any dealings with the SNFU. I did hear of such an organisation, sent off my details, and have received a deafening silence since!
 

neilo

Member
Mixed Farmer
Location
Montgomeryshire
Any suggestions where to look for info
Only one i read about used to be in fwi many years ago. Interesting but obv from the land owners view

I think Farming Connect have a thing going in Wales, putting suitable parties in contact, advising on the agreements, etc.
Certainly worth a phone call to them I’d have thought.
 

SFI - What % were you taking out of production?

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Red Tractor drops launch of green farming scheme amid anger from farmers

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As reported in Independent


quote: “Red Tractor has confirmed it is dropping plans to launch its green farming assurance standard in April“

read the TFF thread here: https://thefarmingforum.co.uk/index.php?threads/gfc-was-to-go-ahead-now-not-going-ahead.405234/
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