How do you know...

[freewheat]

When to quit farming?

[fjlip]

Neighbors and relatives that quit had a variety of reasons. A few it was economic, others it's either health issues or just no desire left to keep going at what ever age. Others decided farming was too risky, afraid to lose their savings and a couple were intimidated by technology. Some die at work and never did retire. There will always be a turning point for all of us. This year could be one of those for many.

[vvalk]

Here is my 2 cents. I think once you get out of the mind set that farming is a way of life and that you are running a business, it makes decicions easier. Is this business profitable and can it support my family? When you start putting your family and health on the line to keep farming because its "what I do" or "I have done this all my life" or "I am 3rd generation" etc, then it is definately time to quit.
Treat is like a business and make a decision on what makes the most sense by the numbers. Keep the emotions ( easier said the done) as best you can out of it.
At the end of the day there is lots of ways to make a living and no one has to farm to make their living.

[ado089]

One good year to pay it off, one to retire. If you have a million in cash and few million in assets why would you want to risk that by putting in another crop. Once you have that much money there is far less risky ways to build wealth.

[wilagro]

It is time to retire when your pension income exceeds your Net Farm Income.

[mcfarms]

You answered your question yourself as soon as you asked it.
Sorry to say.

[Partners]

When you wake up in the morning and the "Fun" is gone...We all are not in it for the excess of money that we are going to make..Because there is many other less stressful ways of make $$$$..So after you have been there and done that--drought-excess rain--poor prices--excellent prices--good yrs--and bad...and there is no more adventure to this, many its time for a change???? But do it before you are to old to do anything else...

[shaney]

I think if you ask yourself that question often. I think you already know the answer. It would seem to me that your passion is gone. Find something that will excite you and get you re-invigorated with your career.