Dairy farmer, David Brooke, writes about his own journey towards retirement and how share farming has given him the opportunity to create a positive work/life balance.
My Dad died at 68, so when I was 58, I decided I needed to think carefully about the rest of my life. This was 12 months after my dear wife/business partner had passed away at 55.
I was milking 100 cows organically in the Teifi Valley in Carmarthenshire.
We had about 250 cattle on a farm that was within seven years of being paid for and debts, although not insignificant, were under control.
The business was profitable with minimal labour costs, under control purchased feed costs, and low machinery inputs mainly because of competitive contractor costs.
I enjoyed milking cows, running a business and also some stature in the local community. My children were self-sufficient and independent (largely).
I had also started a new relationship with a lady who was financially independent.
So where now? For me the ideal scenario for an ageing dairy farmer is to support his/her children as they continue/develop the business.
Make the tea, feed a few calves, take calves to market, become the local union chair, go on the local authority or give time to church or other charities. All rewarding and significant.
Share farming
My four children did not want to farm (sadly). I did not want to sell the farm, so I advertised for a share farmer but was rather nervous about going into business with another.
A local man approached me about renting the farm; he was happily married with three children and perfectly suitable to run his own business. So four years ago I started a farm business tenancy with him.
We agreed a 12-month trial with an option for five more years. I also asked my tenant if I could milk once-a-day to ease me out and until recently I was milking about 13 times a week for him (paid of course). This I enjoyed and had no real responsibility except to turn up.
The freedom this agreement has allowed has meant I have been able to pursue various voluntary roles including work with the bereavement support organisation Cruse; a local farming charity that supports people with mental health difficulties, and another role with a befriending brief.
Milk
In the past year, we have bought a smallholding a mile or so from my farm which is my latest project. I now
also milk for a 72-year-old farmer 10 times a week.
I also sing in two choirs, play badminton weekly, go to a yoga class, run a discussion group, swim in the sea locally during the summer, enjoy walking, have a busy social life and attend church regularly.
All while milking 10 times week for which I am well paid.
I can also have time off for holidays. We bought a caravan pre-lockdown which was the best £250 I ever spent.
The future of our industry depends on young farmers progressing and, with dairy farms in this area knocking a hole in £1.5 million, its not easy.
I was fortunate to rent a 72 acre council holding in Worcestershire 35 years ago and to have believing and supportive parents.
Many farmers do not save in a pension in spite of tax incentives to do so, but as one of my old bosses used to say its not what you earn but what you spend.
The state pension at over £700 is not insignificant, but would be stretched to pay for a rent/mortgage and provide a comfortable living.
Life is all about managing change, something all farming business have to embrace regularly. The saying today is the beginning of the rest of your life is very true.
Many farmers miss the opportunity to rent their farm out and enjoy the freedom that enables because they miss the sense of identity.
I have had people question what I am doing, which doesnt particularly bother me. In fact I question myself (most days).
What most seem not to realise is, that a fair rent is often a very good profit. Selling the livestock and machinery (ie the business) does enable a reset in any business and if living costs are under control and with a modest mortgage to be paid, life can be much less demanding than full-time dairying.
Life is good (and very precious). My dear Dad used to say life is too short. He also said there is no point in being the richest man in the graveyard. How true.
