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Farmers have unique financial information needs

eXtension National Launch: Helping Farm and Ranch Families Make Critical Financial Decisions Financial Security for All CoP. Farmers have unique financial information needs. As self employed, they are responsible for planning and funding retirement

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Farmers have unique financial information needs

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  1. eXtensionNational Launch:Helping Farm and Ranch Families Make Critical Financial DecisionsFinancial Security for All CoP

  2. Farmers have unique financial information needs • As self employed, they are responsible for planning and funding retirement • They have both farm and off-farm income to manage • Their wealth is often tied up in land and not tax-deferred retirement savings accounts and other investments

  3. Farmers have unique financial information needs • They face extreme vulnerability due to past/present/future economic crises • Sale of assets/land requires wise investment decisions • Rural areas are under-served by large financial service firms and financial education providers

  4. Farm Computer Usage and Connectivity • 57% of over 2 million farms use computers • 27% use DSL (rate doubled from 2005 to 2007) Source: 2002 Census of Agriculture, USDA National Agricultural Statistics Service

  5. Online Financial Education for Farm Households • Financial Security for All Features • Basic Information • Learning Lessons • Finance Calculators and Tools • News Stories • Calendar

  6. Online Investment Education for Farm Households Project • Funded by FINRA Investor Education Foundation • Market analysis to clarify investment concerns and learning preferences • Enhance Investing for Your Future learning lesson • Pilot test program with Annie’s Project • Potentially reach 13,500 farm households with investment education program

  7. eXtension.org/personal_finance

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