Introduction to Retirement Planning of Farm Families & The Farm Transfer

Process

Sharon A. DeVaney, Ph.D.

Purdue University

West Lafayette, IN

sdevaney@purdue.edu

765-494-8300

Introduction

Interviews and focus groups Included participants from several states Age 40 through 70 2/3 were men, 1/3 were women

Research Questions

1.What does retirement mean to you?

2.How have you prepared for retirement?

3.What prompted you to plan for retirement or what barriers exist that have prevented you from planning for retirement?

4.What sources of income will you have in retirement?

Research Questions

1.What have you (or others) done to prepare for eventual transfer of the farm and farm property?

2.What family members have you discussed your plans with?

3.How have you planned for health care in regards to retirement?

For Further Information see

A Retirement Estimator for Farm Families at

http://www.ces.purdue.edu/farmretirement/