My Path to Today –
I grew up a farm kid. You might recognize my background – having a dad who spent most waking hours, especially during growing season – outside on the farm. And a mom that helped on the farm and also did pretty much everything in the house. Preparing the ground, planting, cultivating, harvesting. You may remember baling hay, sweating in the hay mow. If your dad raised hogs, you remember too well cleaning pens and stalls. If he raised cattle, it might have been those days you scooped up baby calves out of the mud during spring calving season. Farming can be the ultimate “Dirty Jobs” occupation.
Your father’s perseverance rubs off on you, right? It shapes your beliefs when you work side by side with someone who gives his best effort 100% of his waking hours. The farmers nearing retirement today were quietly proud when you got that college degree that their hard work made possible.
Maybe your plan after college was to work a few years in the corporate ag world, then move back to the farm. That would make sense – there have been plenty of tough years on the farm, especially in the ‘80s. I personally lost 2 jobs in 3 years due to the struggling ag economy, quickly finding out that those who work closely with farmers also feel real financial pain when farmers are hurting. Both farmers and their suppliers need to be financially nimble to survive.
Today’s surviving farmers understand working long, hard hours can be a virtue but in today’s world it’s critical for everyone in agriculture to find efficiencies that allow them to work smarter, not harder. It’s hard to get agriculture out of your blood if that’s been your life. Farmers, equipment dealers, feed suppliers, chemical or seed dealers – some of the most genuine people in America. Their hours are unpredictable, they often work in less than ideal situations, and their success rides on the whims of nature.
While we’ve helped many people in our 30+ years (and plan on continuing to do so for many more), working with farmers and ag business owners is certainly a passion for me. They put their faith in God to provide every year, usually taking huge financial risks to help put food on our tables. And in agriculture, as in wealth management, proper planning really matters. The right equipment, the right seed, the best herd health practices, the best planning. It all makes a difference.
When it comes right down to it, our work and our family are our life’s legacy. Our passion here is simple…helping wealth creators grow and preserve their legacy!
– Mike Moffitt
Agribusiness Solutions from Cornerstone Financial Group
Our Agribusiness team is led by professionals that have current farming and agribusiness experience. We are committed to providing innovative and forward-thinking solutions for farmers and those in the agribusiness industry.
Some of the questions we can assist you in addressing are as follows:
- How do I keep my land/business in the family and continue our working operation?
- What methods are available to transfer ownership to a family member in the business and help equalize value to other family heirs?
- Can I be charitable now, and continue my charitable giving as a legacy when I’m gone?
- How can I better manage income tax liabilities when I retire?
- What can I do to avoid estate taxes where possible?
- What techniques can be used to better manage risks and their costs?
Our Agribusiness Services/Strategies Include:
- Succession planning
- Business value enhancement strategies
- Beginning farmer assistance
- Agribusiness enterprise risk management
- Property, Income and Estate Tax planning offered in conjunction with unaffiliated tax professionals
After working your entire life in agriculture, you owe it to yourself to take the prudent steps necessary to ensure things are run and operated in your best interest. Allow Cornerstone Financial Group to guide you through your transition in life with our varied strategies needed to ensure your farm, your legacy is passed on as you wish.
For more information on our Agribusiness Solutions, please contact us through the page in this website.