Farming, taxes and retirement

Taxation often makes up the largest expense and accounts for the largest loss of wealth in the lives of many farm families, particularly during retirement years, says Donavon Tofin, a tax specialist with Retiring Farmers in Saskatoon. Over a farming career that spans two, three or more decades, farmers defer income into the latter years. […] Read more

What does your future look like?

If you’re getting ready to retire, visualize what you want your life to look like — and figure out how much it will cost

To plan for retirement, it’s a good idea to think about what you want your retirement to look like. With a clear picture in mind, you can then set goals and figure out what needs to be done to reach those goals. Tim Eggers, field agricultural economist at Iowa State University, has designed a model […] Read more

Couple make plans for life after farming

Bill and Gale Stonehouse have spent a lot of time lately planning an auction sale. It’s a big step. They’ve been farming since they were teenagers. Bill was 17 and Gale 18 when they married in 1970 and made their home on the Cut Knife, Sask.-area homestead that his grandfather had established in 1912 and […] Read more

Trader spent career peddling grain

When Terry James was a young pup in the grain trading business, George Richardson told him something he’s always kept in the front of his mind: “It’s your name. It’s your reputation. It’s your word. It’s your bond.” Richardson, the patriarch of the family whose name is synonymous with Winnipeg’s grain trade, told him that trading […] Read more