Farms.com Home › Videos › Rural Lifestyle Videos

Does retirement seem impossible? / Focus on farm transition / FCC Knowledge

Nov 29, 2019

Subscribe to our Newsletters

Video: Does retirement seem impossible? / Focus on farm transition / FCC Knowledge

There are many factors, both financial and emotional, that impact a senior partners’ ability to retire from the farm. In this episode, we talk about the questions to answer and the roles in transitioning to retirement.

Key takeaways:

• First step - create an estimated annual retirement budget based upon dreams and goals of the senior partners, unforeseen expenses, and inflation.

• Cost of retirement will become a debt obligation to the farm in most cases, unless there are other income streams or savings.

• Include your farm’s accountant and junior partner to determine: can the farm business meet this obligation and stay in a healthy position? If so, what is the most tax efficient way to extract those funds from the farm?

Business News by Better Farming

Proposed Gov’t Funding Bills Don’t In... ›

Iowa Corn Growers Furious with New De... ›

State Agriculture Department Announce... ›

The Crop Market Outlook Remains Chall... ›

Organic Agriculture Research in Actio... ›

General News by Better Farming

AED Announces 2026 Board Chairman and... ›

Precision Planting Reveals 3 New Prod... ›

INEDA Past Chairman Jay Funke Testifi... ›

AAFC cutting 665 positions ›

Man. John Deere dealerships merging ›

Forums by Agriville.com

A real lobby effort results ›

Winter wheat harvest Highwood Montana ›

U.S. Midwest Corn Pollination is Widespread in 13+ U.S. States! ›

Rain lottery ›

Friday crop.report on a Thursday middle of July on ›

Current N pricing ›

Machinery News by Better Farming

AED Announces 2026 Board Chairman and... ›

Precision Planting Reveals 3 New Prod... ›

INEDA Past Chairman Jay Funke Testifi... ›

Made in America: FCC decision sparks ... ›

US fleets ‘cautiously optimistic’ abo... ›

Crop News by Better Farming

National Ag Day 2026 Celebrates Farming ›

How Antibiotic Bans Could Affect Orch... ›

USDA Faces Pressure on Crop Insurance ›

How Antibiotic Bans Could Affect Orch... ›

NourishMD Grant Program Creates New O... ›

Livestock News by Better Farming

Enrollment For Dairy Margin Coverage ... ›

Reevaluating Artificial Insemination ... ›

Preventing Lamb Laosses: The First 30... ›

Ohio Sheep and Lamb Sale Added to the... ›

Missouri Weather In 2025: From Bitter... ›

Sponsored Links:

Highest Yielding Soybeans, PigCHAMP Grow-Finish, Precision Agriculture, Swine Reproduction Software

This website uses tracking tools, including cookies. We use these technologies for a variety of reasons, including to recognize new and past website users, to customize your experience, perform analytics and deliver personalized advertising on our sites, apps and newsletters and across the Internet based on your interests.
You agree to our Privacy Policy and Terms of Access by clicking I agree.