{"id":4125,"date":"2020-06-18T05:00:19","date_gmt":"2020-06-18T11:00:19","guid":{"rendered":"https:\/\/elainefroese.com\/?p=4125"},"modified":"2020-06-18T05:00:19","modified_gmt":"2020-06-18T11:00:19","slug":"reinventing-your-life-after-farm-retirement","status":"publish","type":"post","link":"https:\/\/elainefroese.com\/2020\/06\/18\/reinventing-your-life-after-farm-retirement\/","title":{"rendered":"Reinventing Your Life After Farm Retirement"},"content":{"rendered":"

A weather-worn farmer has recently transferred a major part of the farm business to his millennial successor. He asks his spouse, \u201c<\/span>What are we going to do for the next 20 years<\/span><\/i>?\u201d She reflects with a hint of surprise in her voice, \u201c<\/span>What do you really want?\u201d <\/span><\/i>The truth about reinventing your life after farm retirement is that it can be both exciting and scary. The ideas offered in this blog post will help you start to envision what your farm retirement may look like.<\/span><\/p>\n

\"Farm<\/p>\n

Restructuring Your Down Time<\/span><\/h2>\n

Even if you are years away from farm retirement, the \u2018Great Pause\u2019 may have given you some idea about how difficult it can be for farmers to restructure their downtime.<\/span><\/p>\n

One of the interesting outcomes of the professional sports shut down during the pandemic is that many farm men have been forced to re-arrange their downtime. Farmers fear being bored because they are used to working long hours. They typically are not thinking of getting ready to re-design their downtime.<\/span><\/p>\n

[Tweet “#Farmers never want to think about #retirement. Let\u2019s reframe it as a chance to reinvent yourself! Click for tips to help you discover what will make you happiest during your later years. #farming #farm”]<\/p>\n

The Transamerica Center for Retirement Studies conducts an <\/span>annual survey<\/span><\/a> about how retirees spend their time. Here are some of the latest findings.<\/span><\/p>\n

67% are spending more time with family and friends.\u00a0<\/span><\/h3>\n

My farmer spends time with his son every day since they farm together. As a coach, I find many farming men have not kept up close relationships with friends; they often tell me they do not have close friends. For women who have multiple roles and tasks, the lack of friendship may put more pressure on them to have activities for the \u201csemi-retired\u201d spouse. This is a potential source of conflict if the farm dad does not have a clear role on the farm or activities that he enjoys beyond the farm.<\/span><\/p>\n

Work on your friendships intentionally and start building a new network of people you enjoy being with, for work and\/or play. Reaching out by phone and texting has been one of the wins of being confined to home this spring.<\/span><\/p>\n

44% are pursuing hobbies.\u00a0<\/span><\/h3>\n

\u201c<\/span>Elaine, my hobby is farming; that is all I want to do<\/span><\/i>!\u201d<\/span><\/p>\n

\"Farm<\/p>\n

Exactly.\u00a0 Independent, resilient, hard-working, creative, innovative farmers who love to make deals are not happy, just golfing. I met one recently who sells vehicles and trailers as his \u201cside hustle\u201d to create more cash flow.\u00a0 Hobbies can also include mentoring others in the skills you possess, like welding, mechanics, trading stocks, etc.<\/span><\/p>\n

39% are travelling.\u00a0\u00a0<\/span><\/h3>\n

\"Farm<\/p>\n

Heading south is a long-time option for many farmers who like to congregate in Arizona, but what happens when they reach 80 years old and still have a good 15 years or more of life to find meaning and purpose? Don\u2019t get me started on my \u201c<\/span>strong warning for 80-year-olds<\/a>\u201d <\/span><\/i>who are still holding the bulk of the farm wealth. It\u2019s high time to let go!\u00a0<\/span><\/p>\n

21% are volunteering.\u00a0<\/span><\/h3>\n

4-H Canada would love to hear from you and your ag society, the local curling rink, hockey arena, and local church. Many hands make light work, and perhaps you want to spend some of your farm retirement volunteering on a sporadic basis, not in a regular service club. Boomers have a strong work ethic that converts well into volunteerism. Just remember to show gratitude and appreciation. In our small town, the local recycling center has a gang of folks who really enjoy their twice-weekly antics of sorting stuff, and they proudly wear matching t-shirts. The town is intentional about recognizing their value.<\/span><\/p>\n

15% are taking care of grandchildren.\u00a0<\/span><\/h3>\n

\"Farm<\/p>\n

Childcare in rural areas is difficult, and sometimes the grandparents are the best solution. Other times, grandma has told me that she does not want to spend her farm retirement as the \u201cdaycare.\u201d\u00a0 One retired nurse in our community is fostering babies.<\/span><\/p>\n

9% are caregiving for a loved one.\u00a0<\/span><\/h3>\n

This is a huge stress on families that needs a contingency plan. I see dementia as a large looming issue for rural farm families who want their loved ones to stay in place as long as it is workable. We need better support systems to help farm families navigate caregiving. Our church family is currently using a visitation schedule to support a person in long-term care. Have you met with your financial planner to discuss contingency plans like long-term care insurance or critical illness insurance?<\/span><\/p>\n

4% are pursuing an encore career.\u00a0<\/span><\/h3>\n

I know a dairy farmer, age 50, who sold his cows to his successor when he realized that milking cows for 30 years was enough. The father then started a new business venture. My encore career after farm retirement is going to be speaking professionally, as my hero is 75 and still booking large audiences. Our family doctor has warned us to \u201cHave some fun because it all falls apart at age 75!\u201d<\/span><\/p>\n

4% continue working in the same field.\u00a0<\/span><\/h3>\n

Ha! 70% of farmers are likely not retiring and working in the same fields, literally! The pace and the nature of the work changes, but the passion for agriculture and making independent decisions is the foundation for farmers not letting go of their roles on the farm. Have an ongoing dialogue with the millennial managers to see what a good working arrangement is for all ages and stages of life.<\/span><\/p>\n

Farm Retirement: Ask What You Really Want<\/span><\/h2>\n

The statistics above detail how other people are spending their retirement time. What will <\/span>your<\/span><\/i> farm retirement look like? I suggest you start by asking what you really want. For example:\u00a0<\/span><\/p>\n