Statistics Canada tells us that the average age of farmers is increasing. Of those who were engaged in agriculture in 2021. 60.5 percent of farm operators was 55 years or older.
Instead of seeing this as an unstoppable march to the demise of the older generation, let’s think of it in terms of a portion of the farming population getting a pension plan.
On the opposite side of the coin is the next and next generation of people (usually family) who are building careers, looking to invest in their future and trying to take their place in the farming business.
A farm transition plan shouldn’t take long to develop, but implementation can, and perhaps should, take years. We want to know: Where are you in the planning process? And be honest!