Anyone become rich from farming ?

moy83

As the title says do any of ye know many people that earned a fortune from farming . Not from selling sites or roads through the land but selling cattle , sheep or grain .
I cant say I know many , there are a few older lads that are well off but its more from never spending a penny than anything .

Oh and if anyone has ideas on how to strike it rich in farming be sure to share

Conmaicne Mara

Don't spend money on nothing, you can settle up my fee later

Timmaay

Whats the best way to earn a small fortune farming. Start with a big one!

sheebadog

moy83 wrote: »

As the title says do any of ye know many people that earned a fortune from farming . Not from selling sites or roads through the land but selling cattle , sheep or grain .
I cant say I know many , there are a few older lads that are well off but its more from never spending a penny than anything .

Oh and if anyone has ideas on how to strike it rich in farming be sure to share

There's loads on here millionaires from selling milk. !

sheebadog

Only millionaires can afford granit worktops in their homes etc. .....
Or so I'm told!'

keep going

Theres a couple lads around here that are very wealthy and by that they have alot of assets not related to farming but were funded at least at the start by farming activities but also in the way they do business - always pay bills on time and are able to fund stuff very quickly.edit, you wouldnt know it if you met them though

bbam

moy83 wrote: »

As the title says do any of ye know many people that earned a fortune from farming . Not from selling sites or roads through the land but selling cattle , sheep or grain .
I cant say I know many , there are a few older lads that are well off but its more from never spending a penny than anything .

Oh and if anyone has ideas on how to strike it rich in farming be sure to share

Them older lads also sitting on large SFP which insulated them well.
There's no doubt some lads have a very decent income from the SFP. Last year I was talking to a lad I was at school with.
I was surprised when he talked openly about the SFP. He took over from his auld lad after being away in England for quite a few years. Their SFP is €60k, or a little more. They throw €30k in one account to run the house. The other €30k is used for loans for land, machinery and stock. He admitted that breaking even on farm activity was enough for him.

So €30k into the bank for the house. That's like a €50k job. Plus he gets money to buy more land and machinery before worrying about farm profitability.

He's no millionaire. But farming has left him well off. Married a teacher too

TopCon

Depends on how much daddy/mammy/relatives pass on to you start at.

To be honest self made millionaires from cattle/sheep/tillage are few and far between. Can think of a couple though!!

Generally most cash tied up in capital, reinvesting etc...

Miname

A couple of lads have built up a fair old reserve around here. the same lads do a lot of tangling and id say the majority was gained through that. Any of the others were just miserable and have layers of dust lying on old pound notes in a usa biscuit tin under the bed.

TITANIUM.

moy83 wrote: »

As the title says do any of ye know many people that earned a fortune from farming . Not from selling sites or roads through the land but selling cattle , sheep or grain .
I cant say I know many , there are a few older lads that are well off but its more from never spending a penny than anything .

Oh and if anyone has ideas on how to strike it rich in farming be sure to share

Strike oil

rs8

as said the only lads who have a nice income are from sfp or a farm which was built by their father and grandfather! know of two brothers who walked into an uncles farm that had everything build grain dryers,machinery, land (300 acrs)! these lads work hard in fairness but would still have to throw up their hands and say a major foundation was built for them

Reggie.

TITANIUM. wrote: »

Strike oil

I'm sure there is a loophole somewhere that states the government owns all natural resources

cute geoge

They is a quare share of lads with shares in Kerry group with a fortune but u can be sure they will not let on though

Mac Taylor

I'll be the first to say I have become rich since I started farming mind you I considered myself one of the super richer before I started farming!!

Timmaay

Reggie. wrote: »

I'm sure there is a loophole somewhere that states the government owns all natural resources

And even despite this huge advantage, they still bloody manage to flog most of these resources off to likes of shell etc for 1/2 nothing!

Reggie.

Timmaay wrote: »

And even despite this huge advantage, they still bloody manage to flog most of these resources off to likes of shell etc for 1/2 nothing!

Not at all, they end up paying shell to take it off their hands :rolleyes:

td5man

moy83 wrote: »

As the title says do any of ye know many people that earned a fortune from farming . Not from selling sites or roads through the land but selling cattle , sheep or grain .
I cant say I know many , there are a few older lads that are well off but its more from never spending a penny than anything .

Oh and if anyone has ideas on how to strike it rich in farming be sure to share

The only ones i see doing well out of farming are vets, ACCOUNTANTS, solicitors and the knackery.

Reggie.

td5man wrote: »

The only ones i see doing well out of farming are vets, ACCOUNTANTS, solicitors and the knackery.

Leave him alone, he's supposed to be busy

td5man

Reggie. wrote: »

Leave him alone, he's supposed to be busy

Doing??
Probably burying his money in concrete and steel, need Delaval to have a word with him.

Timmaay

td5man wrote: »

The only ones i see doing well out of farming are vets, ACCOUNTANTS, solicitors and the knackery.

Being a vet anit a picnic either in fairness (I think we had a thread about it here afew months back), only a 30/40k wage for crazy hours and plenty of physical work when it comes to large animals.

Reggie.

td5man wrote: »

Doing??
Probably burying his money in concrete and steel, need Delaval to have a word with him.

He doing my paperwork, between the concrete and steel

grimbergen

I was chatting to a young-ish dairy farmer over the christmas - he says he was getting 54c a litre from June onwards from his co-op. High protein and concentrates etc. Not they type to bull**** either. Plenty of lads in the dairy game making money, the Teagasc figures will show you that.

td5man

Reggie. wrote: »

He doing my paperwork, between the concrete and steel

Is that so the revenue cant find it.

Reggie.

td5man wrote: »

Is that so the revenue cant find it.

Don't care how he does it once the figures are right

WayneScott

moy83 wrote: »

As the title says do any of ye know many people that earned a fortune from farming . Not from selling sites or roads through the land but selling cattle , sheep or grain .
I cant say I know many , there are a few older lads that are well off but its more from never spending a penny than anything .

Oh and if anyone has ideas on how to strike it rich in farming be sure to share

Farmers dole is great

Philope

A well run farm, with a bit of capital to start with, will make money, but won't make you rich. If you're in farming for just the money, or to be rich, or you don't have the capital to run a modern farm, and are in effect working just to pay the bank, sell up. The obsession with land is not a healthy one.

tim04750

Timmaay wrote: »

Being a vet anit a picnic either in fairness (I think we had a thread about it here afew months back), only a 30/40k wage for crazy hours and plenty of physical work when it comes to large animals.

Can't understand why anyone with enough brains to get the points for veterinary would actually choose it.

rs8

tim04750 wrote: »

Can't understand why anyone with enough brains to get the points for veterinary would actually choose it.

never mind a vet what about a farmer

bbam

Philope wrote: »

A well run farm, with a bit of capital to start with, will make money, but won't make you rich. If you're in farming for just the money, or to be rich, or you don't have the capital to run a modern farm, and are in effect working just to pay the bank, sell up. The obsession with land is not a healthy one.

A well run farm of what size and where.. and by the looks of things if its not in dairy its not at the races..
I'd be thinking it would take a fair sized suckler herd to supply a living to a family and pay for a family home.. And I'd wager that without SFP it wouldn't have a hope !!

rs8

bbam wrote: »

A well run farm of what size and where.. and by the looks of things if its not in dairy its not at the races..
I'd be thinking it would take a fair sized suckler herd to supply a living to a family and pay for a family home.. And I'd wager that without SFP it wouldn't have a hope !!

not that i want to no his personal finances, but id like to hear bobs reply to this as im fairly sure hes a fulltime suckler man

simx

rs8 wrote: »

not that i want to no his personal finances, but id like to hear bobs reply to this as im fairly sure hes a fulltime suckler man

I'm fairly sure bob is a finisher and has little or none sucklers

rs8

ah damn, is anyone on here a full time suckler farmer? is blue5000?

Toplink

Once the mortgage is paid and I have a lump sum saved for the kids college fees... then and only then will I go full tome farming.

10 years and counting.

Toplink

Once the mortgage is paid and I have a lump sum saved for the kids college fees... then and only then will I go full tome farming.

10 years and counting.

bob charles

simx wrote: »

I'm fairly sure bob is a finisher and has little or none sucklers

it felt like I was a full-time suckler farmer last year I had so many beef heifers in calf:mad:, still manage a few calving here each year. with all costs associated I would find it hard to see a realistic wage from them irrespective of numbers and efficiencies

bob charles

https://www.youtube.com/watch?v=UclE2S2So-g

bbam

bob charles wrote: »

it felt like I was a full-time suckler farmer last year I had so many beef heifers in calf:mad:, still manage a few calving here each year. with all costs associated I would find it hard to see a realistic wage from them irrespective of numbers and efficiencies

The problem as I see it with suckling is that to be in big enough numbers to provide a living.. your into so much stock that a second man is needed and then that would just negate the whole object..

That's of course providing you were just handed a farm large enough to run them..

I still haven't seen much evidence floating round that sucklers could provide for a modern family.
If you look at the cold facts, other than dairy, farming for the majority is a supplemental income.