May 20, 2021

Farm Succession: Retirement Planning

Farm families face challenges with retirement planning and implementation similar to other small businesses but are unique as retirement can be implemented in various individualized situations for operations and management transitions. What activities will the retiring generation take part in? Will he/she remain involved in the labor, management, or ownership? Questions always arise on money for retirement living and similar to other businesses, a lawyer, a financial planner, an accountant, and other professionals may be of aid when retirement planning. In this Purdue Commercial AgCast episode, the tenth in our Farm Transition Planning series, Purdue ag economists Brady Brewer discusses retirement planning with the Purdue Farm Transition team, Kelly Heckaman, Jeff Pell and Denise Schroeder.

The companion episodes in this podcast series can be found at http://purdue.ag/successionplan:

“Farm Transition Planning”, June 24, 2020
“Farm Succession: Transitioning Business Management”, July 22, 2020
“Farm Succession: Feasibility of Adding A Family Employee”, August 20, 2020
“Farm Succession: Human Resources For Transition Planning”, September 30, 2020
“Farm Succession: Conflict Management For Transition Planning”, December 18,2020
“Farm Succession: Business Governance For Transition Planning”, January 26, 2021
“Farm Succession: Business Entities”, February 24, 2021
“Farm Succession: Operating Agreements”, March 17, 2021
"Farm Succession: Contingency Plan", April 26, 2021

More information from the Purdue Farm Transition Team can be found here and resources from the Purdue Institute for Family Business can be found at https://purdue.ag/fambiz and don’t forget to follow and subscribe to the farm succession planning YouTube channel.

TEAM LINKS:

PART OF A SERIES:

Farm Succession/Transition Planning Series

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