Ohio Farm Bureau Financial Essentials

Do you worry about money? Do you have a plan for retirement? Is the next generation going to be able to take on the farm? Are you protecting your family and business from unnecessary financial risk? No matter how successful your business is or what stage of life you’re in, no one is immune to financial stress.
Ohio Farm Bureau Financial Essentials aims to alleviate that worry through a series of workshops and online resources developed to help answer those important questions. In collaboration with Nationwide, Farm Credit Mid-America, Wright & Moore and others, these resources can help guide your path to financial security for your family, farm and business.

Essentials for Retirement

Wapakoneta  Aug. 29, 2019 at 6 p.m.
Jackson – Sept. 11, 2019 at 6:30 p.m.
Sugarcreek – Oct. 22, 2019 at 7:00 p.m.
Free for members!

Essentials in Financial Risk Management

Pemberville – Aug. 5, 2019 at 6 p.m.
Kenton – Aug. 20, 2019 at 6 p.m.
Van Wert – Sept. 9, 2019 at 6 p.m.
Free for members!

Essentials of Farm Succession Planning

Middlefield  Aug. 16, 2019 at 8:30 a.m.
Bellville – Sept. 10, 2019 at 6 p.m.
North Fairfield – Oct. 10, 2019 at 6 p.m.
Senecaville – Nov. 19, 2019 at 6 p.m.
Free for members!

Workshop Partners

Financial Webinars brought to you by Nationwide

Create a plan to help cover health care costs in retirementRecorded and available for viewing 24/7!

Health Care is likely to be one of your biggest retirement expenses. Join us as Nationwide shares useful information about the impact of health care costs in retirement, your planning options, and how you can get a personalized estimate of these potential costs.

Learn More

Create a strategy to estimate and fund your long-term care expenses in retirementScheduled for this fall!

Did you know that 7 in 10 Americans need some form of long-term care (LTC) assistance during their lifetimes1? What can you expect and how will you pay for it? Learn more from Nationwide about how, as a farmer or rancher, you can better estimate your potential LTC expenses in your community and begin building a plan to fund it.

1 www.longtermcare.gov

Learn More

Do you know how & when to file for Social Security retirement benefits?Recorded and available for viewing 24/7!

Your retirement readiness depends on many choices over your career. Perhaps no choice is more significant than how and when to begin taking Social Security. Your choice on when to file for Social Security could affect your annual benefit by as much as 76%2. Learn the basics of Social Security and useful information to help you make the right decision based on your circumstances.

2 Based on an individual with full retirement age of 66, comparing early filing at age 62 and receiving reduced benefits of 75% of primary insurance amount versus delayed filing at age 70 and receiving credits to increase benefits by 32% of primary insurance amount.

Learn More

Additional Resources for Financial Success

  • Essentials of Securing Professional Services

    This one page document helps prepare you, the business owner, in working with the professional service providers to give you the best value for your time and money.

  • Farm Profitability with OSU Extension

    A system designed to help Ohio’s farm families achieve financial success in today’s challenging marketplace. We accomplish this with Farm Business Analysis, a program that analyzes every aspect of your farm business.

  • The Six Essential Skills for Entrepreneurial Success

    Farmers fulfill nearly all executive roles on their operations: chief executive officer, chief financial officer and HR manager, just to name a few. While the majority of farmers may consider themselves business managers, many may not think of themselves as entrepreneurs.

  • Three Traits of a Successful Operation

    There’s no one-size-fits-all approach to successful farm management. From crop production to marketing, agriculture has grown vastly more complex. Still, for the many factors that have changed, there are three commonalities that pave the path to profitability.

Essentials for Retirement Long Term Care, Medicare and Social Security Planning

Wapakoneta – Aug. 29, 2019 at 6 p.m.
Jackson – Sept. 11, 2019 at 6:30 p.m.
Sugarcreek – Oct. 22, 2019 at 7:00 p.m.

Are you financially ready to retire? Is an investment in long-term care insurance right for you? How does social security and medicare fit into your plans? If you are unsure of the answers to these questions or just want to learn about ensuring your well being in retirement, attend one of these workshops. Developed for individuals 40 years and up, this short session can help direct you to your best path.

In this session, you will learn:

  • How financial needs change during retirement
  • How the social security program and health care costs impact you in retirement
  • What long-term care is and the stresses it can create in retirement
  • How to leverage an advisor’s experience for comfort in retirement
  • How to be better prepared for this next step in life
  • Nationwide’s Retirement Planning Learning Center

    Nationwide has worked with public sector employees like you for more than 40 years, so we know the kinds of questions you might have about investing for your retirement. The Learning Center can help you find your way through our site. Education is power – we’ll give you the tools, articles and information that you’ll need to possibly feel confident about investing.

Free for members!
$10 for nonmembers
Register

Essentials in Financial Risk Management

Pemberville – Aug. 5, 2019 at 6 p.m.
Kenton – Aug. 20, 2019 at 6 p.m.
Van Wert – Sept. 9, 2019 at 6 p.m.

Are you launching your own farming operation? Have you been part of an operation but are just now getting your feet wet in the financial side of the business? Does navigating the world of finance, business planning and insurance seem daunting? If you answered yes, or just want to learn more and ensure your business is protected from unnecessary financial risk, attend one of these workshops. Developed for beginning, new or evolving operations (seed, fertilizer, vertically integrated), this short session can help point you in the right direction.

In this session, you will:

  • Build a better understanding of risks
  • Learn strategies and solutions to mitigate risks
  • Gain a basic understanding of insurance options available to protect your operation
  • Learn to identify opportunities that can help grow your operation
  • Better prepare to manage your business for the future
  • 5 Ways to Get the Most Out of Working with Your Lender

    No matter the advice you receive as a farmer, there is usually one core tenet: communication. Reaching out to the various members of your farm’s team — from your agronomist to your crop insurance agent — continues to be a key way to ensure your operation’s success. This is especially true when it comes to working with your lender.

Free for members!
$10 for nonmembers
Register

Essentials of Farm Succession Planning

Middlefield – Aug. 16, 2019 at 8:30 a.m.
Bellville – Sept. 10, 2019 at 6 p.m.
North Fairfield – Oct. 10, 2019 at 6 p.m.
Senecaville – Nov. 19, 2019 at 6 p.m.

If you were unable to farm, for any reason, what would happen to your operation? Is each member in your farm family in agreement about how to proceed? Don’t let your worries keep you from making the decisions and having the necessary conversations to ensure your goals for the farm are achieved. This short session is developed for farm families ready to build a seamless transition for the operation.

In this session, you will:

  • Gain the tools necessary to ensure your farm and family are ready for the transition
  • Build confidence to manage the interpersonal, emotional, legal and business aspects effectively
  • Learn how to work effectively with advisors, CPA’s and legal services
  • Gain a framework to achieve your farm and families transition goals
Free for members!
$10 for nonmembers
Register