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A Retirement Income Simulation Model for Farm Operators

Author

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  • Spence, Lyle C.
  • Mapp, Harry P.

Abstract

Retirement planning for farm families is complicated by the unique relationship between the farmer and his business. Farm operators combine their labor and management with owned or borrowed capital to generate income, a combination of labor and investment return. When earned income exceeds immediate consumption needs, the excess is often invested in the farm business. In fact, the high demand for capital reinvestment in the business enterprise may leave little opportunity for farm families to establish a savings or investment program designed to produce adequate income for their retirement needs.

Suggested Citation

  • Spence, Lyle C. & Mapp, Harry P., 1976. "A Retirement Income Simulation Model for Farm Operators," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 8(1), pages 163-168, July.
    • Handle: RePEc:cup:jagaec:v:8:y:1976:i:01:p:163-168_01
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    Cited by:

    1. Walker, Odell L. & Hardin, Mike L. & Mapp, Harry P., Jr. & Roush, Clint E., 1979. "Farm Growth And Estate Transfer In An Uncertain Environment," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 11(1), pages 1-12, July.
    2. Tauer, Loren W., 1984. "An Empirical Analysis of Dairy Farm Reinvestment Versus Tax-Deferred Plans for Retirement Income," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 0(Number 1), pages 1-6, April.
    3. Reid, Donald W. & Musser, Wesley N. & Martin, Neil R., Jr., 1978. "Income Tax Aspects Of Liquidation In Multiperiod Linear Growth Models," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 10(2), pages 1-6, December.
    4. Amber Remble & Maria Marshall & Roman Keeney, 2014. "Household Saving Behavior and the Influence of Family-Owned Business," Journal of Family and Economic Issues, Springer, vol. 35(3), pages 411-422, September.
    5. Tauer, Loren W., 1984. "An Empirical Analysis of Dairy Farm Reinvestment Versus Tax-Deferred Plans for Retirement Income," Journal of the Northeastern Agricultural Economics Council, Northeastern Agricultural and Resource Economics Association, vol. 13(1), pages 1-6, April.

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