Next Generation Farming
Nearly 300 million acres of U.S. farmland are expected to change hands in the next 20 years. Beyond the transfer of land, and the often-complex succession planning process, investing in the next generation involves the transfer of skills and knowledge. Now’s the time to cultivate multigenerational success through asset, resource and financial stewardship.
Caleb Ragland is hopeful his boys will have the opportunity to be the 10th generation to carry on the family’s farming roots, but he’s concerned the fallout from trade disruptions, high input costs and low commodity prices could deliver a death blow to that dream.
Strong succession is driven by leaders who are willing to plan boldly, act decisively and invest in their next generation. Your family and your operation are counting on you.
Born and raised in Oklahoma, Brittany Hukill wasn’t planning to take over the family farm so soon. But that became her reality after losing her father when she was a teenager and then her grandpa when she was in college.
“We must ensure that we make a way for young and beginning farmers to fill our boots,” said Zippy Duvall, president of the American Farm Bureau Federation.
How do you know when it’s time to start transitioning your operation to the next generation? Rena Striegel, president of Transition Point Business Partners, says to aim for a decade.
Aaron Blackmon, a North Carolina extension agent and first-generation farmer, discovered his passion through mentorship and now carries on a farm’s legacy with dedication.
What’s the long-term difference between starting a retirement plan at age 20 versus 40? Farm CPA Paul Neiffer crunches the numbers.
Doug Stark, retired CEO of Farm Credit Services of America, joins the Ag Inspo podcast to share what he believes the next generation of producers need for building their own operations.
With innovation and diversification, the Fenders have found their niche in the beef industry.
At the age of 18, Dalton Dilldine faced the circumstances of his father’s passing: he could continue the family’s farm, start his own entity or go to college. The type of guy who would choose “all of the above” to a multiple choice question, he did all three.