Quote Originally Posted by buffalobo View Post
Dad always said that was why he never followed his dad into farming. Couple freezes, snow storms, hail storms in a row could send a guy to the poor house.
They have insurance for it... but that means your best year is only mediocre- the insurance can be very expensive. Wife is a beneficiary to a trust that owns a number of farms in Nebraska... they buy the insurance- and some years the insurance payment is more than what they profit on the farm (in other words, over half the profit went to insurance).. I think i'd be less risk adverse when the cost is so high. Some years, the only yield on some farms is the payout from the insurance.