Bailey, W. C., Turner, M. J. (1994). Significance of sources
of retirement planning information for farmers. Financial Counseling and
Planning, 5, 83-99.
Significance of Sources of Retirement Planning
Information for Farmers
William C. Bailey (1) and M. Jean Turner (2)
This study examines the perception of the importance of retirement
information from accountants, bankers, Cooperative Extension agents, financial
planners, insurance salespersons, lawyers, and the media among full-time farm
operators from five states (N=2021). Information on retirement planning from
financial planners, insurance agents and lawyers was not highly valued whereas
Cooperative Extension Service was considered an important source of information.
ANOVAs were conducted using socio-demographic, socio-economic, retirement and
farm operation variables. Age of farm operator was the most likely indicator of
perceptions of the value of these information sources. This study indicated
that financial planning industry professionals need to strengthen their
visibility with and understanding of farm operators. Cooperative Extension
agents are in a prime position to make important contributions to assist farm
families in preparing for quality of life in later years.
Key Words: farm operators, financial planning, retirement
1. William C. Bailey, Department of Home Economics, University of Arkansas,
HOEC 118, Fayetteville, AK 72701. Phone: (501) 575-2058 Fax: (501) 575-2050.
2. M. Jean Turner,