March 26th, 2019
9:00am - 3:00pm
$20 for the first person from the farm; each additional person is $10 if sharing materials.
Katie Wantoch, Agriculture Agent
In a farm business, planning for the current owners’ later years is an important aspect of a farm succession plan. Even if the owners are not planning on fully retiring from careers as many workers do, it is important to discuss their vision with family and farming partners, and plan on “shifting gears,” slowing down and finding other activities to enjoy. A program is being offered to help farm families explore and plan for their later farming years.
Farmers and farm businesses have some unique characteristics that may not be addressed in general financial planning or retirement planning workshops. Shifting Gears for Your Later Farming Years is a two-day workshop series designed specifically for farm families. The program will introduce participants to the following topics:
- How much “gold” do I need in my “golden” years?
- Financial Planning and Tax Considerations i.e. IRAs, 401K, Social Security, insurance coverage, etc.
- How much will I need to rely on the farm business and what will that look like?
- What will I do if I’m not farming?
- Communicating with farm family members about your hopes, plans and expectations
- Checklists to help you assess your readiness for changes and to keep you on track as you continue to plan
Whether farmers describe their later years as fully retired, semi-retired or never retiring, they must answer the questions: where to live, what to do, how to fund it, and put the answers against the backdrop of the farm business continuing for the entering generation.
You can find the workshop brochure – Shifting Gears Brochure 2019(pdf)
This program is supported by Dunn County UW- Extension, UW Center for Dairy Profitability, and North Central Extension Risk Management Education. This material is based upon work supported by USDA/NIFA under Award Number 2012-49200-20032.
Dunn County Community Services Building
3001 UW Hwy 12 East