A financial adviser says five years is the minimum amount of time people need to plan for retirement.  | Getty Images

Retirement planning must start now

Retired couple say they started working on a plan three years before retirement, and that probably wasn’t enough time

Retirement planning can be difficult for many farmers. Getting started on building up savings and talking about retirement goals often doesn’t start soon enough. For Reginald and Theresa Nelson knew they could not continue their Rockglen, Sask., seed cleaning and 2,000-acre grain and certified seed operation because of Reginald’s health. But selling their operation and […] Read more

Financial advisers say it can be difficult to convince farmers of the importance of investing outside their farm.  |  Getty Images

Income can continue after retirement

Different income streams can improve financial stability, whether it means an investment portfolio or continuing to work

When Reginald and Theresa Nelson started looking into their retirement plans, being financially stable was their biggest concern. No one wants to retire wondering where their money is going to come from, but retirement doesn’t have to mean that they stop working. While Reginald was not healthy enough to continue their Rockglen, Sask., seed cleaning […] Read more

People must be prepared for fluctuations in their income and other factors outside of their control such as inflation.  |  Getty Images

Get a handle on expense and income streams

It can take a great deal of work to figure out ahead of time what ‘living within your means’ will involve after retirement

Russell and Terri Bruce are excited about their farm auction this fall. After decades of farming near Tuxford, Sask., and their last harvest in 2019, the couple looks forward to closing their operation and spending more time with their grandkids. To do that, planning their retirement, including their budget for the coming years, had to […] Read more

“I get the phone calls, ‘Colin, I’ve sold,’ when I should be getting the phone call, ‘Colin, I’m thinking of selling.’ I never get that phone call,” says Colin Sabourin, a financial planner from Winnipeg.  |  Getty Images

Call a financial planner before retirement

Farmers advised to set aside money for insurance and investment needs off the farm long before discussing retirement

When it comes to planning for their retirement, farmers rarely go to financial advisers asking for a plan. At least, that what Colin Sabourin, a financial planner with Hemmett Anseeuw and Associates of Winnipeg, sees when he works with farmers. Sabourin sees a trend of farmers whose retirement plans are selling off their assets when […] Read more

People planning their retirement are urged not to underestimate the cost of their dreams.  |  Getty Images

Know what you want to get from retirement

Identifying expectations can help map out suitable investments based on goals rather than just risk tolerance

What do you want out of your retirement? Being on the verge of retirement, Russell and Terri Bruce are taking this question seriously. Of course, their family is the biggest priority but visits cost money for travel and other expenses. The questions of what you want out of retirement and how you intend to pay […] Read more

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Some people divorce and some people don’t

Not all of Clive Tolley’s clients want a divorce. Some just want some space. “I’ve had several clients that have got to a time in their life where they just wanted to have some independence and do some things they wanted to do and didn’t get a chance to do. They kind of still love […] Read more

The Eirickson family cemetery is on a slight knoll overlooking a lush green pasture and the gently sloping ravine that runs through it.  A statue of St. Francis of Assis watches over the graves of  Oli and Irene Eirickson, laid to rest there in 2010 and 2013. |  Shirley Byers photo

Family establishes on-farm cemetery

Don Eirickson acknowledges that his family’s decision to establish a cemetery on the farm may not be one everyone agrees with. “Some people might think we’re a little bit off the wall but we’ve never regretted it,” he says. The Eirickson family cemetery is on a slight knoll overlooking a lush green pasture and the […] Read more

Buyers who reside in Canada for at least 183 days a year can own farmland, even if they aren’t Canadian citizens.  |  File photo

Who can buy your farm?

Rob and Grace were a few years away from retirement when one of the “neighbour kids”, who was now an adult, pulled into the yard one day fresh from the rigs and driving a shiny new truck with an offer to buy their farm — a very substantial offer. Rob might have gone for it. […] Read more

Ownership trends tracked

A study involving three universities tracks the changing pattern of farmland ownership in three Saskatchewan rural municipalities. The work was conducted by Andre Magnan at the University of Regina in collaboration with Annette Desmarais at the University of Manitoba and Darrin Qualman and Nettie Wiebe from the University of Saskatchewan. It is titled Land grabbing […] Read more

Brain games enlisted to combat mental aging

If regular physical exercise can keep our bodies fit, can brain training games do the same for our brains? Can specially designed games, playable on a computer or smartphone, give us the brain equivalent of a well-toned body? As with many questions, it depends on who you ask. Challenging your brain supports brain function and […] Read more