Retirement

Three RRSP tips to keep in mind year-round on the farm when using the plans for tax purposes.

Good financial management is not an inherent skill – it must be taught and learned through experience. And, based on our age and circumstances, the focus of teaching and learning changes.

Four ways farmers in transition planning can manage rising interest rates and inflation.

Take proactive steps towards farm transition early and include the next generation in the process.

Taking time to consider what moving back to farm means for parents and adult children can help make the transition easier.

Knowing the right time to stop farming is no easy task – but it’s made easier by having a good grasp on your financial picture and a solid plan in place.

Renting land can mean faster growth, better cash flow management and a successful farming operation.

The Smiths thought an equipment auction and land rentals were the way to go on retirement, until a conversation with a neighbouring farm family made them rethink their options.

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.