My Path to Today - Why Agribusiness is Important to Me

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, your work and your family are your life's legacy. Our passion here is simple... helping wealth creators grow and preserve their legacy!

- Mike Moffitt

Agribusiness Solutions from Cornerstone Financial Group

Picture yourself three to five years from now.  As a producer or supplier in the agribusiness sector, you’ve successfully competed in the global market to meet the demands of a growing world economy.   Your dedication, hard work and technical know-how led to wealth you never expected when you started in this business.  It certainly didn’t come easy!  You had to adapt on the fly…agriculture has changed rapidly!  Now that you are successful, you have a whole new set of problems that revolve around the “winding down” of your role in the business.  You may not feel all that wealthy but actually, you’re probably one of those “top 1 percenters”.  And that’s something to be proud of.  We help you with the tough issues that pop up as a result of your success over a lifetime of hard work, and help you plan for your future by creating a legacy blueprint specific to your needs.

No matter what amount of time you have until retirement or even if you don’t plan to “officially” retire, professional guidance can ensure your farm or business is handled as you wish.  Having the right financial strategies in place can give you piece of mind, financial freedom, and the desired lifestyle that you have always envisioned.

We can help you solve the tough issues that arise from success. Our services include but are not limited to helping you address the following: 

• 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?
• How can we handle family differences with limited or no conflicts as we plan our transition out of the business?
• Can I be charitable now, and continue my charitable giving as a legacy when I’m gone?
• How can I better manage tax liabilities when I retire?
• Whether I sell my operation or transition it to family, how do I get enough retirement income to live on?
• 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
• Successor planning/Beginning farmer assistance
• Agribusiness enterprise risk management
• Property, Income and Estate Tax planning offered in conjunction with unaffiliated tax professionals

Before another season comes and goes, reach out to us at Cornerstone Financial Group for a no-cost initial consultation.  Our Agribusiness team includes professionals that have decades of farming and agribusiness experience. We are committed to providing innovative and forward-thinking solutions for entrepreneurs in agriculture.  Our passion here is simple…helping wealth creators grow and preserve their legacy!