Farm Family Podcast: Episode 29 - Farm Transition: Beginning Conversations About Finances

Episode 29: Emotionally Strong Farm Teams

In this episode, Elaine welcomes her friend, farm partner, and University of Nebraska agricultural economist, Jessica Groskopf. Elaine and her guest discuss one of the most challenging topics for many farm families – financial transparency in farm transition.

From addressing your biggest financial fears (whether you’re the owner or the heir) to the importance of having honest conversations around expectations, this episode offers practical insights for farm’s facing transition. Jessica highlights key strategies for ensuring financial transparency, the biggest generational differences when it comes to finances, why there IS such a thing as good debt and some of the best questions every farmer needs to ask.

“..When we’re talking about finances, sometimes we have to make really, really hard decisions that will catapult us into the future and make us viable. And so, we have to leave […] options on the table, which includes selling land, […] renting out land, [… and] not allowing everybody to come back […]. Openness really has to be a part of these conversations as well.” –Jessica Groskopf

Mentioned During This Episode:

People

• Dave Ramsay: American Radio Personality (Financial Advice)

Jessica’s Webinar

• Farm Transition: Beginning Conversations About Finances

University of Nebraska

• Center for Agricultural Profitability
• Webinars
• Upcoming Events

Elaine Froese Resources & Links

• SPEAKING – book Elaine for your next event
• COACHING – find your Farm Transition Coach
• MEMBERSHIP – become at Farm Family Harmony Member
• RESOURCES – download for FREE
• CONTACT –take the next steps in your transition

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