Financial planning on the farm in ’22


Financial planning on the farm in ’22

The CEO of a financial services company says farmers should firm up financial plans for 2022.  

Marc Cadin with Finseca says growers should start with what did and didn’t work in 2021.

“There were certainly some things about their financial health that went well and I’m sure there were things within the farming business and farm family that could have gone better,” he says. “Now is the perfect time to take stock of what happened and what are the successes and what are the challenges.”

He says farmers continue to plan for the future in uncertain times with COVID-19, supply chain issues, and market volatility.

“We have to think about and prepare ourselves for the inevitability of tomorrow, whether that’s what’s going to happen to the individual leading the farm or what’s going to happen in the broader economy and what’s going to happen in the broader global supply chain,” he says. “We have to allocate some time and resources toward what may happen in the future.”

Cadin says evaluating tax liabilities, talking with financial advisors, and balancing short-term needs with long-term investments are critical.

Finseca, inspired by the notion of Financial Security for All, represents the men and women of the financial security profession who deliver financial security to their clients every day.

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