How to Retire Into Farming and Be Successful
To retire into farming and be successful requires calculated planning and deliberate effort over time.
As I was driving through the highways that lead to my state capital the other day.
I was just looking and wondering, why are there so many abandoned farms on both sides of the road?
The abandoned farms were just too visible, as they can be seen dotting the entire landscape.
This phenomenon is not just peculiar to the highways and countryside that leads to my state capital.
Its cuts across several, towns and villages all across the country.
It is quite a worrisome situation especially at this time that the government is trying to encourage entrepreneurship and self-reliance among its citizens.
So as to create more jobs for individuals and families. On further inquiries about how, why, and who owns those abandoned farms.
It was further discovered that most of these farms were owned and ran by retired civil servants, veteran soldiers, and those that want to try their hands at farming.
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Retiring into Farming
It is no longer news, to hear among civil servants or even businessmen that they would like to retire into farming and be successful.
Most especially after their active years in public service.
Most of them go into long time savings during their active years or even borrow to starts these businesses after retirement.
Unfortunately, most of these senior citizens and retired civil servants go into these farming enterprises with their entire retirement savings or benefits.
Without having prior knowledge of what they are about to go into, or arming themselves with what to expect in case of any eventuality.
Unfortunately in the end they will find themselves rushing out the way they rushed in.
This is the reason why you kept on seeing a lot of abandoned farms dotted all around the countryside.
This blog is expected to guide you through on how to retire into farming and be successful. While you are still young, and yet to starts a farm or even at any age and period:
If You Want To Retire Into Farming and Be Successful You Need To Start Early
Most civil servants particularly those from this part of the world retire between the age of 60 to 70 years of age, or after 35 years of active public service.
Generally, at this age, your strength and energy are beginning to wane down.
Of course, you won’t be as strong as you used to be when you were much younger.
Probably you might be battling with one or more health issues that may affect your productivity.
At this age, it might not be the right time to fail completely in business, because probably your body may not be able to absolve the shock of any failure.
Particularly in a new business, you are not familiar with especially after investing all of your retirement savings or benefit into the business.
It is very important you start from an early age. If you really want to retire into farming and be successful, let’s say 10 to 15 years into your active service years.
This will enable you to be very familiar with the intricacies and rudiments of the business.
You need to have a full understanding of what you are about to starts. It would save you a lot of trouble in the long run.
While You Are Still In Active Service Seek For Knowledge
If you want to retire into farming and be successful. You need to seek proper knowledge on the particular aspect of farming you intend to starts.
My people perish for lack of knowledge, this proverbial phrase is still very true. And is applicable to any business you are about to starts during and after retirement.
For instance, somebody who is about to go into poultry farming either for meat production or egg production.
Needs serious understanding, and knowledge of the business.
It requires serious expertise, in fact, the majority of the abandoned farms I saw are poultry farms.
It is so because most of these civil servants believe, they would just stock in chicken, and boom the bird’s will starts rolling out eggs or meat for consumption.
Without understanding what is in between stocking, rearing, distribution, and consumption.
If you want to retire into farming and be successful. There is a lot of hard work and technicality involved.
it is very important you equip yourself with the right knowledge that will propel you to greater heights.
By making sure you are financially buoyant before going into poultry farming.
Because if you cut corners and don’t have a road map to succeed definitely you are going to hit the bottom rock.
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You Have To Be Patients
It is in poultry farming I fully understood the fact that patience is truly a virtue. In other words for you to retire into farming, and be successful you need patience.
It is true that you have retired and the salary you are used to getting either monthly or quarterly has stopped.
Of course, you have also invested heavily into a new business (farming), it might take time before you start seeing results or make profits.
The more reason why you should start early, so as to have more experience along the learning curve.
While you are still working, it means you still have shock ab-solvers in case you failed.
The shock of losing one life savings, couple with high expectation will lead to anxiety and frustration.
Which might have adverse effects on your health, especially if you are not getting what you want from your investment.
It might lead to discouragement and the eventual closure of the farm.
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If You Wants To Retire Into Farming and Be Successful Eschew Been Over Ambitious
Understanding that the normal monthly salary that you earned. And other benefits that you get during your active years would stop immediately after you retire.
It would help you a great deal in cutting your coats according to your size. Many retired civil servants would ordinarily go and established a gigantic farm on the outskirts of town without considering so many factors such as:
- The financial implication of the project in terms of how to feed the livestocks.
- Security and other factors of production.
- Weighing the pros and cons of the project and how to sustain the farm etc.
A lot of retirees with no prior knowledge will want to start big because of the money and resource at their disposal i.e retirement benefits.
It is still better you start small and you grow and expand along the learning curve.
Except you have huge resources to employ the services of various consultants.
Which may or may not lead to a 100% guarantee of success.
The fact that you have retired from active service is a very good opportunity to concentrate on your farm and be actively involved.
In as much as you need the services of experts to help you run your farm.
It is equally very important you are very much involved in the day-to-day running of the farm, or else if you fall into the hands of dubious farmworkers God forbids they may end up sabotaging your effort.
This is why it is very important you are actively involved in both the setting up and runnings of your farm.
You can’t afford to leave your entire savings or investment in the hands of just anybody.
It is very important you take your time to make inquiries, start early to avoid pitfalls that come with inadequate preparation.
As a civil servant, a veteran, or any profession for that matter. It is very important that you start preparing for your retirement early.
To retire into farming and be successful is the dream of most public servants. Nobody will like to see his life saving go down the drain.
Starting early with meticulous planning and involving the right people with experience will guarantee your success.