Answers are from the Profit Planners panel: David Erickson, farmer, Altona, Ill.; Mark Evans, Purdue Extension educator, Elkhart County, Ind.; Jim Luzar, landowner and Purdue Extension educator, Clay and Owen counties, Ind.; and Steve Myers, farm manager with Busey Ag Resources, LeRoy, Ill.

Our daughter plans to join our farm full time after receiving her Purdue degree in May. However, based on next season’s budget, we are not sure it is feasible now. Should we tell her to look for another job? Is there still a way to make it work?

Erickson: If you are concerned about how current input costs will affect adding your daughter to the operation, now is not the time. Make this decision with planning developed for the future. Two years or more experience away from the home operation is valuable for both parties. This would be a good time for you to get a better handle on farm finances and whether there truly is an opportunity to bring your daughter into the business.

Evans: I recently overheard a couple of farmers talking about the entry of their children into the operation. They had good, consistent yields in 2023 and ’24, but economic conditions continued to worsen. Both lamented that their marketing execution was bad. They both wished their children would have come on board a couple of years ago, when economic conditions were better. Then, one father said, “Maybe entering now will enable my kid with skills to respect and know how to manage in lean times.” 

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Every operation will have different skill sets and differences in resources needed to be profitable. Maybe one of your children could develop marketing expertise. Could a side hustle or off-farm job be the ticket to getting your child initiated in the entry process? What is your operation lacking, and what does your child have to offer?

Keep emotion at bay and focus on needs. Have an open mind and keep talking. Put thoughts and decisions on paper. It has potential to be transformative for your operation if you can bring in family.

Luzar: Evaluate longer-term projections. You want your daughter to succeed, and you wish for the farm business to be financially viable. This will require a longer-term perspective. Financial returns must be large enough to support expanding the team, or there must be changes.

Seek impartial support from your farm advisory team. Communicate with your daughter about what farm financials currently look like and how the operation may change with her joining. Investing time in programming, like that offered by the Purdue Extension, can help keep things objective.

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Finances and/or scale of operation may require alternative means for your daughter to join you over time. Just hoping things will work will not allow you to build a plan with your daughter that provides for contingencies and navigates change.

Myers: Things change, economics change, and numbers tell the story for your operation. Trust your math, and have her start a job search. In those job opportunities may be “the perfect match,” where she could have off-farm employment while still spending time on your farm. If “the perfect match” does not present itself, she still will be gaining valuable experiences and education that she could bring home later without putting your finances in a pinch.