A Retirement Income Simulation Model for Farm Operators*

Lyle C. Spence and Harry P. Mapp

Journal of Agricultural and Applied Economics, 1976, vol. 8, issue 1, 163-168

Abstract: 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.

Date: 1976
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