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Get your farm finances on track to reduce stress
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Get your farm finances on track to reduce stress

Tips to help get you out of financial trouble and improve your mental health

By
Mental health among farm families is much written and talked about in the media these days — and rightly so. Over the last couple of years, western Canadian farmers have been hit by record-setting droughts and other hardships while they cope with the lingering effects of the pandemic. In Alberta, there was an excess of […] Read more
Over a long period of time the good and bad luck balances out and those with higher percentages of good decisions will do better.
Columns

Investing versus gambling

Short-term investing is an oxymoron

By
One of my frustrations with common verbiage around stock investing is the plethora of gambling analogies. Common expressions include sayings like, “If you wish to play this sector.…” as if purchasing a stock is like playing a craps or blackjack table. Another common expression is to “go all in,” as someone would at a poker […] Read more
Ed and Barb have focused their lives and finances on the farm. They have only $50,000 in their Registered Retirement Savings Plan (RRSP). Most of the retirement income is going to have to come from Ernie when he takes over the farm.
Columns

Manitoba grain farmers find a way forward

Legacy is preserved and provisions made for non-farming children

By
In southern Manitoba, a couple we’ll call Ed and Barb, both 64, farm 900 acres of grain with some beef cattle. They have a son Ernie who is 40 years old. He farms and wants to take over Ed and Barb’s spread when they retire. A daughter, 38, who is married to another farmer, could […] Read more
How I doubled my money in less than four years, Part 2
Columns

How I doubled my money in less than four years, Part 2

Five things I did to build my portfolio

By
The last article discussed a number of things I didn’t do to build my newsletter portfolio. This column will turn to the things I did. Some of these may appear like a broken record from past articles but warrant repeating. None of this is rocket science and I’m sure not a rocket scientist. Perhaps that’s […] Read more
A couple works out a farm transition plan for three children
Columns, Features

A couple works out a farm transition plan for three children

Farm Financial Planner: The plan includes financial security for all, including a son with a disability

By
A couple we’ll call Max, 86, and Lily, 81, have farmed 480 acres in western Manitoba for the last 60 years. Their eldest son, who we’ll call Sam, now 60, retired from a city job with a solid pension. Sam now farms with his parents. He is the registered co-owner of the home 320 acres […] Read more
It’s important that best management practices like budgeting and cash flow projection keep pace as your farm expands.
Columns

Superforecasting: When politics meet farm financials

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

By
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
Columns

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

By
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
Columns

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

By
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
Columns

Farm Financial Planner: Keeping that farming door open

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

By
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
Columns

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

By
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

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