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

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?
Register

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.
Register

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.
Register


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. Join a live event to interact with specialists or view the on-demand version anytime. 

 

A guide to understanding life insurance Aug. 18, 2020 | 1 p.m

Life insurance has become a critical tool used by farming and ranching families to help protect their financial well being. Learn about each type of coverage and how they can help protect your family in this 30-minute webinar.

Available On Demand

Health Care: Plan for costs in retirementJuly 21, 2020 | 9 a.m. 

Health care is likely to be one of your biggest retirement expenses. Learn more from Nationwide as we share 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 in this 45-minute webinar.

Available On Demand

Social Security – The choice of a lifetimeSept. 15, 2020 | 5 p.m.

Some farmers and ranchers might be at risk of qualifying for this benefit due to how farm income is reported from year to year. Learn how to ensure you’ll qualify and see how Nationwide can help you build a filing strategy to optimize your future monthly retirement benefit in this 45-minute webinar.

Available On Demand

Understanding long-term care costs in retirementOct. 20, 2020 | 9 a.m.

Did you know that 7 in 10 Americans need some form of long-term care (LTC) assistance during their lifetimes? 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 in this 50-minute webinar.

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.

 


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.