Farmers have unique financial information needs

eXtensionNational 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

• 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

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

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

Online Financial Education for Farm Households

• Financial Security for All Features

– Basic Information

– Learning Lessons

– Finance Calculators and Tools

– News Stories

– Calendar

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

eXtension.org/personal_finance