I am proud to be a part of the dairy industry in various ways. I am among the fifth generation of my family’s dairy farm, where I established the farm’s latest venture: the agritourism business, which entails on-farm activities, processing dairy products and Farmstead Adventure Camp. After getting married this June, my husband and I settled into our new home on his family dairy in Washington County, New York, where I relocated my business as well.

Although I still consider myself a farm girl and play an important role in my family’s farm business, I support the industry in another capacity. I am a financial adviser specializing in retirement planning, succession planning and risk management for farm families.

With my entrepreneurial background, financial experience and passion for the dairy industry, my goal is to help farm businesses plan for the oldest generation’s retirement and keep the next generation in stride to preserve a strong farming community.

Looking back, I’ve had a very rewarding career as a financial adviser, and I’m eager to continue developing relationships with other dairy producers and add value to my new community.

I have truly enjoyed helping farm families transition the business and its assets to the next generation by understanding the goals of both generations. Consequently, this planning includes developing strategies to create more retirement income and protecting the family’s hard-earned assets and investments.

Looking ahead, I recognize that there is a large baby-boomer population in farm businesses who are on the brink of retirement. It’s an exciting time for me and the upcoming generation, yet it takes significant planning and can be very challenging if a comprehensive plan is not in place.

Personally, I can relate to the next generation’s business and financial goals, which often include increasing current cash flow and preserving capital for business expansion or new technologies while planning ahead for their own future and saving money on taxes.

As the fifth generation of my family’s dairy farm, financial management was instilled in me at a very young age, and I expanded upon those skills at Cornell University.

I decided to build a business as a financial adviser with Edward Jones because of the firm’s strong roots in agriculture and its ethical reputation as well as its recognitions from prestigious organizations in client satisfaction, client trust and financial advice.

It’s been said that retirement planning is “making sure the road you are on is leading you to the destination you want to go.” Most farm families have an incredible vision of where they want to go, whether it’s integrating the next generation, expanding the business or specializing in niche products or genetics.

I understand first-hand that farmers tend to get engrossed in the many day-to-day demanding farm activities and overlook the planning aspect of turning their vision into attainable goals in order to create a plan to accomplish them.

That’s where I can provide the most value. Retirement and succession planning can be much easier if the right plans are in place to allow the older generation to retire when they want to (not when they have to) and for the successors to feel comfortable with taking ownership of the farm operation when it’s in a position conducive for financial success.

Is it time for you to either begin planning or review your existing plan? Is it time to determine if you are on track to meet your financial and business goals?

Stay tuned for future articles, where I will keep you apprised of timely financial strategies relevant to farmers. Consider me your financial resource: a true farm girl at heart who understands family and business dynamics and the important financial decisions that need to be made. Call me any time at (518) 692-2649 or email me if you have questions or comments. PD

Breanna Lundy
Financial Adviser
Edward Jones