Consider retirement as a career change and take the same steps to plan for it as if starting a new business.
How much money does a Canadian farmer need to retire? According to farm finance and transition experts, it depends primarily on the intended lifestyle and a personal definition of financial security.
There are many factors that impact a senior partners’ ability to retire from the farm. In Episode 1, we look at questions to answer and the roles transitioning to retirement.
Parents are often hesitant about dividing estate assets fairly among farming and non- farming children. In this episode, we look at ways to achieve this while keeping the farm stable.
Farms are expensive. For families in transition, ensuring the next generation has enough capital to buy the farm while leaving the previous generation with enough to retire can be challenging.
What if there are no family members to take over the family farm?
Not everyone wants the same things when they retire. It's important to have a vision and set goals for retirement and what you need to do to fund it.
Hear how you can reinvent your retirement by mentoring the younger generation and taking on new roles in the farm family business.
What happens when the kids want to take over the farm before parents are ready? How one family navigates a transition plan that works for everyone's timelines.