Buying a larger farm
I am looking for ideas/ advice regarding the purchase of a larger farm. I'm a 53 year old male married with 2 kids 17 and 12. I was able to retire early last year. We are currently living on a small mini farm of 3 acres. We grow certified organic vegetables that we sell at farmers markets and through an online marketing service. This is are first year I estimate we will gross close to 10k in sales. We have always lived within our means and managed to save a substantial nest egg that we have invested in traditional investments ( stocks, bonds, mutual funds, etc.) I am concerned that the current situation in the financial markets could lead to all those investments losing a substantial amount of their value.(how long can the goverment just keep on printing more money?)
My thought is that if things get really bad that land, especially farm land will always have real value.
We are in a position right now where we could afford to cash out some of those traditional investments and purchase a larger farm. This is the first time in my life that the purchase of a larger farm is within our reach.
Property values in this area are down and intrest rates are really low. I know that having a larger farm will be a lot of work and I am not getting any younger. The hardest part for me is the thought of starting all over again. We have built a barn, fenced all the growing areas invested tons material in the soil, have bluberry's, rasberry's,a small orchard, etc., etc. I know it won't be easy but the ones who stand to gain the most from this would be our kids somewhere in the future.
I am interested to hear what people on this forum think.
Thanks for reading this long rambling post.