Significance of Sources of Retirement Planning Information for Farmers
Posted: 4 May 2000
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: Suggested Citation