Ohio Farm Bureau Financial Essentials Resources

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 free 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.


Financial Essentials Workshops

Essentials in Retirement Planning

Essentials in Financial Risk Management

Essentials of Farm Transition Planning

Workshop Partners


Ag Financial Wellness Webinar Series brought to you by Nationwide

Nationwide, in partnership with Ohio Farm Bureau, is excited to bring you a series of educational webinars designed to help you better plan for and live in retirement. 

Understanding Life Insurance Available on demand

Today’s life insurance provides coverage for families, for farm or ranch agribusiness owners and it can provide unique protection to help finance your long-term care expenses as you age. Whether you’re a young family with high levels of farm debt or you’re older and planning to transition your family agribusiness to the next generation, learn what you need from Nationwide.

Available On Demand

Health care in retirement Available on demand 

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.

Available On Demand

Social Security – The Choice of a Lifetime Available on demand 

Your retirement readiness depends on many choices over your working years. 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%.1  Learn the basics of Social Security and useful information to help you make the right decision based on your circumstances. 

1 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.

Available On Demand

Understanding Long-Term Care Solutions Available on demand 

Have you set up a plan to cover long-term care as you age? Most Americans turning age 65 or older will need long-term care at some point in their lives¹ and many will seek in-home assistance from specialized caregivers over moving to a nursing home. Learn how to estimate care expenses and create a plan to cover them with help from the long-term care specialists at Nationwide.

https://acl.gov/ltc/basic-needs

Available On Demand

 

For more detailed questions about personal financial needs, consider calling 855-863-9636 for a complimentary one-on-one consultation with a licensed Nationwide representative.

Nationwide Investment Services Corporation (NISC), member FINRA, Columbus, OH. Nationwide Retirement Institute is a division of NISC.
Nationwide, the Nationwide N and Eagle, Nationwide is on your side and other marks displayed in this message are service marks of Nationwide Mutual Insurance Company and/or its affiliates, unless otherwise disclosed. Third-party marks that appear in this message are the property of their respective owners. © 2020 Nationwide.

 


Essentials in Retirement Planning

Retirement for farmers is different. And each farmer has a different situation.

  • Do you have kids that want the farm?
  • Do you or your spouse have an off farm job with a 401k or pension?
  • Do you want to stay active on the farm or move to Florida?
  • Should you invest cash in retirement or buy more land and equipment?
  • When do I start planning? And when is it too late?
  • Is selling my farm the best retirement strategy? Will land renting be enough to cover my expenses in retirement?
Available On Demand

Essentials in Financial Risk Management

Today’s business environment is as complicated as ever, and minimizing your risk can be critical to long term success. And if you’re new to the business and financial side of the operation, today’s rapid changes can come at you quick. Developed for beginning, new, or evolving operations, this short session can help point you in the right direction.
Available On Demand

Essentials of Farm Transition Planning

If you were unable to farm, for any reason, what would happen to your operation? Does everyone in your farm family agree 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 to the next generation.
Available On Demand

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 – Farm Credit Mid-America

    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 OperationFarm Credit Mid-America

    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.

  • Five ways to get the most out of communicating with your lender – Farm Credit Mid-America
    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.