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A Retirement Income Simulation Model for Farm Operators*

Published online by Cambridge University Press:  28 April 2015

Lyle C. Spence  and
Harry P. Mapp Jr.
Lyle C. Spence
Affiliation:
Oklahoma State University, is currently employed at Nortrust Farm Management, Inc., Chicago, Illinois
Harry P. Mapp Jr.
Affiliation:
Oklahoma State University
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Extract

Retirement planning for farm families is complicated by the unique relationship between the farmer and his business. Farm operators combine their labor and management with owned or borrowed capital to generate income, a combination of labor and investment return. When earned income exceeds immediate consumption needs, the excess is often invested in the farm business. In fact, the high demand for capital reinvestment in the business enterprise may leave little opportunity for farm families to establish a savings or investment program designed to produce adequate income for their retirement needs.

Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 8 , Issue 1 , July 1976 , pp. 163 - 168
Copyright
Copyright © Southern Agricultural Economics Association 1976

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Footnotes

*

Oklahoma State Agricultural Experiment Station Journal Article No. J-3107. Research reported herein was conducted under Oklahoma State Project No. 1535. Comments by Clint E. Roush, Odell L. Walker, Joseph E. Williams and anonymous reviewers are gratefully acknowledged.

References

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