Look at Financial Retirement Planning
From the point of view of farm estate planners, financial retirement planning requires a concrete strategic and savings plan.
In more traditional businesses employees and owners often use an IRA, 401K or other type of investment. When it comes to farmers and agribusiness owners the answer to the questions, how much do you need to save and where will it come from, brings different answers.
For employees of traditional businesses the options often include stocks. bonds, mutual funds etc. that are in no way connected to the farm business itself.
When it comes to farmers facing the financial retirement planning issue their historical perspective results in quite different actions – because their assets are almost all tied up directly or indirectly in the farm.
Sure, they need a team of professionals to assist them, but they must be a team that understands the reality that there really is no savings outside the farm business itself.
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Recommended Reading
- Farm Accountants Serving America's Heartland
- Managing the Farm: The Top 10 Per Cent Is Timing
- The Divine Comedy – Songs Of Love and The Plough – Tabernacle London 12/05/2010
- The Perfect Partnership, Farm Accountants and Farm Accounting Software
- Business Strategic Development For Farm Accountants
