Sad news for me. Selling my hunting/shooting property.

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Sadly, I've heard and seen this story happening even here in NM. Farmers selling their land because their kids are not interested in their parent's land and/or their kids need help financially. My father-in-law would point to farmers he has known all his life and tells me they are selling their land because of their kids. My own father-in-law had sold thousands of acres of land because his kids are not interested in the land. This is the part that doesn't bother me but what bothers me is that fact my brother-in-law feels he is entitled to money his dad has worked for for the past 50 years. As soon has his parents sold the land and got the first round of payments, his parents paid off his student loans. As soon as my brother-in-law got his first round of checks (1800/month), he quit his job. On top of this, my brother-in-law will not introduce his kids to his parents because of a fight that happened years ago.

Owning land by one person will be unheard of in a few decades. Farmers are selling their land to corporations as we speak.

I see this and I think its crazy but then I look at my daughters and I will do anything for them. Its just part of being a parent.
 
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DON'T DO IT. I've got one daughter and she's a sweetheart but she's cost me so much money and IT NEVER ENDS. The property is going to increase in value and not much else you own will. I think we all feel we have to provide for our kids but we may be doing more then we should. College if you don't have the money you're probably better off. Really let the kid find a way, I've 71 years old, Paid my daughters ENTIRE way thru college. (and she has a masters degree) She's married with two kids. Doesn't have a degree that's very marketable and she's not happy working in the field she's trained for AND she is divorcing, My wife and I had to spend money we really don't have to buy a town house so she and the kids have a place to live. She's trying she really is but some times life just isn't fair If I had a property that might some day fund my retirement I'd hang onto it if there was any way possible.

I'm still working mostly because I am helping her. Again if I really felt she was at fault I'd let her sink. This is times thousands probably hundreds of thousands if not millions of similar stories across the USA. Leading cause of bankruptcy for seniors is "helping their children". 

Sorry to run on this just hit a nerve for me. I'm not without but I owe more money today then I have at any other time in my life. Hang on to any appreciating assets if there is anyway to manage. Basically I'm saying don't do what I did even though I continue to do it.

Just the view from a little further down the road.
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I concur with keeping the property. With scholarships, financial aid, work study programs, etc.. there is an alternate way of helping out besides throwing away the farm. 
 
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Dont come down too hard on him. Everyone is in a different situation. I was fortunate that I was able to keep my land. Others dont have that luxury. Different situations call for different sacrifices. My wife and I did without a lot of luxuries early in our marriage. We saved and skimped and paid off our house in 13 years instead of 20. But there were times when we didnt have enough extra money for a pizza. My daughter scored in the top 10% and was able to do a stem program. If she hadnt gotten that Im no sure what we would have done as far as school is concerned. Probably would have had my property up for sale also.
 
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I am sorry but I believe you made a huge mistake. I am not singling you out, i have seen this happen a few times and I just can’t wrap my head around people cashing in 401k,s tompay for their kids school. If the children that are college bound are that good they will get a full ride scholarship if not they probably shouldn’t be going to college, or go to a community college then transfer for the last 2 years. I did time in the Military and used my GI bill when I retired. Way to many kids think its a right to go to college so they can Party for 4 or 5 years on there parents dime. I have seen a lot of kids with Very useless degrees working at fast food joints or in sales at the Malls. My 2 cents.
 
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He is bearing a small portion with a loan but I promised them if they do well in High School, play sports and dont quit, and work a job for their own spending money i will do what i can to get them out of college pretty close to debt free. I read all the horror stories of these kids graduating with huge loans that are due. I want my kids to be able to move out on their own and start their life, not live in my basement til they are 35 years old. It is extremely expensive to live on Long Island NY and a huge loan would crush you. So my wife and i have a kitchen and bathroom that needs updating and drive our cars into the ground. He knows if he screws up, gets bad grades or gets in trouble the party is over and it is back home and community college. (NO QUESTIONS ASKED) OVER! I may look back and realize I made a mistake like a few of you have pointed out but at least this "mistake" in my life was for a good reason. Thanks for everyones input and support.
 
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Don't sell lease it out. If you need the money then get a loan on the property from the bank if you really need the money to pay for college then the only thing you have worth value is that land. You will need it for security for yourself or your son. Land will go up in value not much other stuff will I would figure it out some other way.

I love all my kids and have give them everything but college is a risk believe me lots of money and no guarantee of a great job you are putting all your eggs in one basket. You should help your son but not at the expense of destroying your future and maybe his as well if college doesn't work out. College does not mean great job no matter what that's up to your kid and to be honest he has not planned very well if all the burden is on you.

But you are a great dad and am happy they are still good dads left in this world but think long and hard when making this decision you need security to if it doesn't all work out but even if it does where you going to that land is your home to live and live is your son taking care of you after college? You are not getting younger my friend me either look at other options but keep that land that's money in the bank. John
 
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You are NOT making a mistake. Short story. When I was in college a long time ago (1975) my dad promised me if my grades were good enough to be accepted, he would pay for me to attend the campus in Rome, Italy (Loyola University of Chicago). I got accepted, he reneged. Probably would have been about $7,000 back then. He was a dentist. In 1991 when he was dying of bone cancer, he offered to give me all his cash before his passing (100's of thousands). I refused. That $7,000 would have meant more to me in 1975 to go to Rome than the much greater amount in 1991. You are not making a mistake.
 
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College is not worth the money. A lot of mon ey to high paid professors to indoctrinate them. Just my opinion.
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Ya stole my thunder and I thank you!

College of today is overrated because as you said it's all about indoctrinating them and professors are in a win win situation. College is a money making business.So very sad.

I'm very happy I chose to join the Air Force after high school then used my GI Bill to get a degree in Electronic Engineering. Went back in and joined the Air National Guard to do a total of 23 years. The best education I could have gotten. Oh the sky miles I put it :)

I got very lucky that all the pieces came together and my parents did not have to put any $'s towards my education. Not that they could afford it.

I got to retire in my late 50's but without a price to pay. No regrets and I count my luck stars it all played out the way it did.
 
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My ultimate (dreaming) near term plan is to buy a small, used, tow behind travel trailer with a little bit of the house and property sale proceeds. I still have friends up there I can camp out on from time to time but it will never be the same as having my own property. Time shall tell. My daughter will be graduating H.S. in 3 years and then I will have to sell a kydney. lol. Just kidding. i think im kidding. yeah im kidding.
 
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