Many farriers — especially the young ones — will push themselves to shoe more horses in a day than what they should. I know I was guilty of that.

The key is to get to the point where you can shoe fewer horses and charge more money. That would have been a lot easier if I’d had that ability in the ’60s and ’70s. 

When you start out, set your schedule for a reasonable day’s work. Don’t do like I did and try to do 10-12 horses a day. Your body will last longer and you’ll have a longer shoeing career. 

Beyond that, you’ll be able to choose better horses to shoe and you can get better customers. A lot of people work until they wear out and then they are in trouble financially.

The successful farriers are those who have some kind of a retirement plan. They save and invest their money. But it’s more than just that. It’s using sound financial judgment throughout the course of your entire career. 

A successful farrier is one who does not get in debt. Don’t purchase things that are not necessary, like big fancy trucks or boats. Don’t spend your money somewhere else that you can’t hold onto. It’s not going to come back to you.

You need a cushion. Everybody needs a year’s income in savings at all times. It’s good discipline to save, but also if you get hurt or fall ill, then you have a year’s income there when you need it. 

When tough economic times hit, you don’t want to find yourself in a situation where you have overspent or over-extended yourself, because those are the times when horse owners can’t afford their horses and then everybody is in trouble.