Who Responded:

Work on farm: 43% full-time; 44% part-time

Gender: 82% male; 16% female:

Average age: 57

Children: 72% have son(s); 67% have daughter(s)

Education: 91% have high school education; 21% are college graduates

Potential Farm Successor Identified:

32% yes

64% no

Characteristics of Farm Successor:

21% son

5% daughter

1.5% son and daughter

1.1% other

Plans for retiring from farm work:

40% plan to never retire

29% plan to semi-retire

24% plan to retire

Discussed retirement plans with someone:

64% yes

21% no

How are they planning for retirement:

52% contributed to pension other than social security

37% made an estate plan

 

 

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