I know it is a painful decision, but you need to look at it with the cold eye of a businessman. Farmland and pasture prices are at an all-time high. Yes, they could (and I think they probably will) go up some more, but there's no guarantee of that. But if you sell now, you know exactly what you're going to get. It sounds like you will get enough out of your land to ensure that you and your wife can retire comfortably. If you don't sell now, there's a distinct possibility prices could crash, leaving you and your wife in a tough spot. The time will come when you're unable to continue ranching, and you don't when that day will come. Certainty versus uncertainty.
As far as what to do after you retire, you'll sure need something to keep you busy. Sitting at home watching TV is a death sentence, but there's no reason to do that. Have you considered community service? Some folks spend their retirement traveling around the country in campers doing charitable work. One example in the US is Habitat for Humanity's "RV Care-a-Vanner" program.
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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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