GFM Network News


It’s important that best management practices like budgeting and cash flow projection keep pace as your farm expands.

Superforecasting: When politics meet farm financials

Farm Management: Use financial forecasts for long-term business planning

Forecasting is all around us. From the weather to next year’s kindergarten enrolment to the U.S. presidential election. No matter how accurate past forecasts are, many seek out new information to make decisions. Anticipating what the future might hold helps with preparedness and planning. Philip Tetlock and Dan Gardner researched and co-authored the book Superforecasting: […] Read more

Farm Financial Planner: A COVID-19 plan could save the family farm

In a term of illness, a succession plan can provide for farm management

Death may be inevitable, but the new reality of COVID-19 is that it can strike long before the end of a planned retirement. Conventional preparations like having a will and a plan for distribution of farmland and machinery, inventory, and financial assets, such as stocks, bonds and bank accounts, are usually done as distant contingency […] Read more


How to pass on and preserve the family farm and generate retirement income

A couple puts an equitable plan in place for their children, only one of whom will continue to farm

A couple we’ll call Harry, 53, and Martha, 50, farm 5,500 acres in Manitoba’s Interlake region. They have three children ages 19, 20 and 24. Only the eldest, who we’ll call Bruce, is interested in taking over the farm one day. The other two see their destinies in what could be called town jobs. The […] Read more

Farm Financial Planner: Keeping that farming door open

There are still succession strategies when adult children aren’t sure if they want the farm

In central Manitoba, a couple we’ll call Harry, 58, and Linda, 56, have run a 2,240-acre grain and oilseeds operation for 35 years. Their farm income has been supplemented by Linda’s consulting practice with a large company. They have two adult children in their 30s who are not likely to carry on the family farm, […] Read more


Farming and investing in the stock market: there are many similarities

Both have randomness and volatility; plus, good management doesn’t always lead to good outcomes

Stock investing and farming entail variability and random chance. Both also create opportunities for profit when randomness and volatility are understood. I introduced the “bell curve” in my last column, demonstrating how portfolios have good and bad outliers, while most stocks clustered around the mean. Does this concept apply to farming? Say you farm 11 fields of canola […] Read more

Farm Financial Planner: Widow wants to wind down farm

With no children wanting to farm, this widow wants to sell up and minimize taxes

A widow we’ll call Susan, 64, has a 1,120 acre farming operation in central Manitoba. She owns 800 acres personally and has another 320 acres in her farming corporation. When her husband — we’ll call him Burt, passed away, the estate was probated and quickly transferred to Susan. Now she wonders what will become of […] Read more


Sold the farm. Now what?

After an auction sale, farmers will have a lot of cash on hand. Les Henry offers some investment tips

I took a run at this topic a couple of years ago but think it is worth another run. This past year I have seen ads for many auction sales of former students, colleagues and friends. They have all recognized a once in a lifetime opportunity. Anyone long enough in the tooth has seen the […] Read more

Life’s secrets, according to you…

Start saving from the moment you get your first paycheque, no matter how little it is

Best financial advice? Never confuse your net worth with the numbers in your bank account — you’re not taking any of it with you. You’re worth as much as any millionaire out there. And if one day, you happen to become one of those people who make millions a year, remember this — you’re no […] Read more


Life’s secrets, according to you…

People of the world, tell me this — what’s the best financial advice you’ve ever received? Part One


I’ll never forget the day my dad sat me down when I was 16 years old… I was desperate to buy a car, and equally desperate to spend every last dime I had saved to purchase it. To me, the math was remarkably simple: more money = nicer vehicle = cool cat. According to my […] Read more