No 457 - Tuesday's Club Notes

The “Club Notes” for Tuesday, the 11th of March, 2025.

By Dwain Duxson - An Ag Enthusiast

A Super Plan

I have a mate who was bought up on a Farm and owns his original Family Farm and has done very well in business but outside Farming. He keeps his eye on all things Farming and is a subscriber to this publication. I was talking to him the other day and we got talking about succession and how we can get better at it. He said Farmers don't utilise superannuation as much as they should, especially when they are young. He said if Farmers focussed on putting money aside for family members, many of these succession issues could be avoided. Many Farmers wouldn't have any super as they are not akin to paying themselves formal wages, so it's not a requirement. It's a problem many small business owners face, and it's definitely an issue in Agriculture. In fact, you could start putting a small amount into Super when your child is born and watch it multiply. I guess the best time to start is now by getting your super accounts set up. The greatest investor of the modern era, Warren Buffett, is a great advocate of the compounding theory, and this is what Albert Einstein said about it: "Compound interest is the eighth wonder of the world. He who understands it earns it; he who doesn't pays it." So, therefore, starting out on your superannuation journey early will make a huge difference later on in life. Are you an advocate of Super?  Reply to [email protected] or 0427 011 900

**Next members draw - 4 tickets to win a Landcruiser Sahara

• 4 ticket draw (4 winners) valued at $300 each to go in a 1000-ticket raffle for a New Landcruiser Sahara. Drawn 3 pm EDST on Friday, the 28th of March, 2025. All paid-up subscribers get a ticket in the draw.

What’s in the paid section today:

Story 2 - In this fast-paced world where information is instant, we can become reactionary….

Story 3 - I have a theory: “The Mallee is good for Sheep, but Sheep aren’t good for the Mallee”…..

Number of articles and images - 100 bits of valuable Farming and Ag info, including 23 funnies and 8 just sayings.

Number of Farmer replies - 7 in total.

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