Significance of Sources of Retirement Planning Information for Farmers

Posted: 4 May 2000

See all articles by William C. Bailey

William C. Bailey

University of Arkansas - Department of Agricultural Economics & Agribusiness

M. Jean Turner

University of Arkansas - School of Human Environmental Sciences

Abstract

This study examines the perception of the importance of retirement information from accountants, bankers, Cooperative Extension agents, financial planners, insurance salespersons, lawyers, and the media among full-time farm operators from five states (N=2021). Information on retirement planning from financial planners, insurance agents and lawyers was not highly valued, whereas Cooperative Extension Service was considered an important source of information. ANOVAs were conducted using socio- demographic, socio-economic, retirement and farm operation variables. Age of farm operator was the most likely indicator of perceptions of the value of these information sources. This study indicated that financial planning industry professionals need to strengthen their visibility with and understanding of farm operators. Cooperative Extension agents are in a prime position to make important contributions to assist farm families in preparing for quality of life in later years.

JEL Classification: J26, G23

Suggested Citation

Bailey, William Charles and Turner, M. Jean, Significance of Sources of Retirement Planning Information for Farmers. Available at SSRN: https://ssrn.com/abstract=5759

William Charles Bailey (Contact Author)

University of Arkansas - Department of Agricultural Economics & Agribusiness ( email )

Fayetteville, AR 72701
United States
501-575-2058 (Phone)
501-575-2050 (Fax)

M. Jean Turner

University of Arkansas - School of Human Environmental Sciences ( email )

Fayetteville, AR
United States
501-575-2209 (Phone)
501-575-7171 (Fax)

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