A Baby Boomer Dreams of Alpacas
Jack Wier, PhD, MBA, CFP
Dr. Wier is a Certified Financial Planner and a Managing Executive for Royal Alliance Associates. For the past 30 years, Dr. Wier has assisted his clients in maximizing their financial assets.
The mission of Jack Wier Advisory Services, L.L.C. is: "To attain leadership in our industry by cultivating an environment that continuously improves customer service, explores new product opportunities and increases its point of sale, resulting in superior corporate financial results, increased market share and ongoing employee growth."
Part of Dr. Wier's personal portfolio as a "Wealth Manager" includes ownership of over 40 alpacas and 40 llamas.
Advisory Services, L.L.C.
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Submitted by: Jack Wier
Face it you’re hooked. Ever since you saw the "I Love Alpacas" promo while watching the Animal Planet you knew you had to own these peaceful, beautiful creatures. Now your thoughts turn to:
How can I accomplish this goal?
Before you get started it is important that you understand the financial commitment this endeavor will entail. One must realize that this investment is classified as an alternative-type investment. Just like Classic Cars, Rare Coins and Sports Memorabilia, Alpacas do not trade on a Stock Exchange (NYSE, ASE or NASDAQ), so there is no Specialist to help you acquire your herd "portfolio." If you need liquid assets -- you cannot expect that your animal will sell in a day, week, month or year for that matter. Alpacas are not considered a liquid asset, the factors that relate to buying and selling require you to research prices, quality and the service provided by the farm you want to do business with.
All that being stated, Alpacas are the perfect small farm animal. You can acquire alpacas with a minimal investment in acreage. One acre of good pasture can support up to six alpacas. Check the zoning laws in your community to make sure that alpacas are allowed on your property. A shelter must be prepared and fencing is a requirement.
The good news is that this venture can be a business and thus provide tax advantages if developed with a qualified financial management team to address all of the issues that establishing a business require. The animals themselves are depreciated in this "going concern" and can provide a sizable rate of return on your investment if managed properly.
Another way to get started is by agisting (boarding) on an established farm that allows you to keep your animals there -- while you find the property for your farm and build your shelter and fence. This arrangement will require an outlay (per animal per day) based on the written agreement you make with the agisting farm. Some farms will also allow you to receive on site education on the proper care and feeding of your herd.
Either method is acceptable to begin your investment but please do adequate research before you make the final commitment. By doing your research and homework first you will benefit with years and years of dreams come true. I believe it is one of the best alternative investments a Baby Boomer can make.
Photos From Alpaca Breeders Around The Country!