GFM Network News

More News →

Tag Archives retirement planning

In the case of farmers such as Herb and Fred who have separate assets, there may be adverse tax consequences in transferring land from one to the other at book value.
Columns

Two brothers want to merge two farms, simplify ownership

Farm Financial Planner: Maximizing the proceeds from their estates for the benefit of charities will take some planning

By
In south-central Manitoba, two brothers who we’ll call Herb, 75 and Fred, 60, have farmed for more than 40 years. They’ve raised cattle and produced mixed grains. Neither has married and there are no children or other obvious heirs. In their four decades of farming the brothers have built up substantial off-farm assets. There’s enough non-registered […] Read more
If you have sufficient assets to pay yourself an income for the rest of your life, you’ll need to consider the best path to generate that income.
Columns

Woman, mid-60s, has successful farm and tax planning opportunities

It makes sense for her to take advantage of lower tax brackets while she can

By
A woman we’ll call Teresa, who farms two sections of grain in southeastern Manitoba, is 63. She works through a farm corporation worth $1.4 million and has personal farmland worth $1.75 million. The breakdown: she has non-farm assets of $419,000, savings of $400,000 plus a TFSA with assets of $100,000, and other savings of $800,000. […] Read more
Senior couple gazing out over farmland, late summer.
Columns

How to keep legacies fair for non-farming kids as land values soar

Parents worry their bequests will not be fair due to the appreciation in land prices

By
In southern Manitoba, a farming couple we’ll call Bob and Suzy (not their real names) are, at their respective ages of 82 and 80, approaching full retirement. They have one son who farms and two daughters who have city jobs. The children are in their 40s. Bob and Suzy are contemplating posterity and are eager […] Read more
Columns

New farm transfer strategy aids couple with shrinking retirement funds

Farm Financial Planner: Now they can provide for children and increase nest egg

By
A couple we’ll call Max and Susan rent 320 acres to their son, who we’ll call Ernie, in central Manitoba. They are retired. Their problem is how to provide for their two daughters who do not farm. Worse, the retirement nest egg they put together years ago has been eroded by inflation and low returns […] Read more
Columns

Pay off debts before selling the farm

Farm Financial Planner: This Manitoba couple can pay off their debts and look forward to a reasonable retirement

By
In south central Manitoba, a couple we’ll call Herb and Cathy, both 64, are looking ahead to their future. They have farmed grain for more than two decades and have two children, a son age 40 and a daughter, 42. Each has a career off-farm and neither has an interest in returning to the family […] Read more
Farm Financial Planner: Finding a comfortable retirement
Columns

Farm Financial Planner: Finding a comfortable retirement

Farmers can turn marketing board quota and a modest income into a comfortable retirment

By
In southern Manitoba, a couple we’ll call Herb, 63, and Martha, 60, have a mixed farm with most of their effort and capital invested in producing poultry products for a group of grocery stores in Winnipeg. They operate 310 acres of land surrounding their 10-acre yard with an aging farm house, their 35-year old son’s […] Read more
Columns

Bachelor farmer seeks retirement plan

Farm Financial Planner: With no spouse and no children to take over the farm, this single farmer needs to decide when he can retire, then create his retirement and inheritance plan

By
Fred, as we’ll call him, has farmed in central Manitoba for four decades, often adding to farm income by working for his neighbours. Over time, he has sold off parcels of his operation — once 480 acres — and is now down to 160 acres. He uses his land for producing hay, custom grazing and […] Read more
Columns, Farm Life

Young Manitoba farmers plan their lives

By planning early and including an off-farm pension,
 this young couple will have a secure retirement

By
A couple we’ll call Roger and Martha, both 29, farm in southern Manitoba. They have combined income of $160,000 a year based on Martha’s town job, which pays $90,000 a year, and Roger’s work on his family farm and his own part-time farm operation for which he draws $70,000 a year. Life is good for […] Read more

AgCanadaTV

AGCanadaTV: In case you missed it; your national ag news recap for July 11, 2025

Sponsored By:
More Videos →

Cyber-Savvy Farmer

Glacier Farmmedia Podcast

Latest Market News

More Market News →