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The Psychology Of Retirement
Farmer's Weekly
|July 17, 2020
Retirement is not a single event; it involves both emotional and financial considerations
Several years ago, a life insurance company screened a TV commercial that showed an elderly man saying, “Farmers never retire. They only retreat.” By this he meant that retired farmers tend to retain an interest in the farm even when their children have taken over. This is sometimes to the frustration of the child, but it can also be welcomed, depending on the relationship between parent and child.
Farmers often find it difficult to retire, either because they don’t really want to or because they are afraid of not having enough funds to do so, or both.
It is probably safe to say that the average age of farmers worldwide hovers around 60, while the average retirement age could be around 75. This puts them 10 to 15 years older than the usual retirement age for most other jobs and makes timely planning for retirement essential, and not only to beat inflation.
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