income
- dryland Corn/Wheat adjusted gross income: $60,000
- Cattle adjusted gross income: -$14,000
- income from contract work/trucking I've done in the area for other businesses: $18,000
average hours spent per week
Corn/Wheat: 12 hours
Cattle: 100 hours
trucking/contract work: 12 hours
"I'm thinking about phasing out my farming and running more cattle. What do you think?"
^^^ real life example of things I have had farmers/ranchers tell me when we looked at their books. Lucky for my clients I empathized with them ignoring facts and logic because my Grandpa was the same way. He would rather make $40k a year on HIS COWS than have to pray for rain on dryland crops and work part time for somebody else even if he would make double the money. (this was before modern GMO drought resistant crops and modern crop insurance so it made a little bit more sense back in the day)