Intergenerational farm transfer AND Reduce stress by controlling your finances

For this episode I've picked two of my favourite stories from the archives and combined them into a unique episode. First, Bob Tosh, a farm and family advisor with MNP. The process of transitioning the farm from one generation to the next is a long and difficult process.What makes it so difficult is each family farm business is unique and no single approach works for everyone. Bob will discuss the roadblocks, the importance of being heard, the difference between succession planning and estate planning and the first steps in getting the conversation started. Control your money so it does not control you.Vanessa Stockbrugger is a former investment banker on Toronto's Bay Street who went on to found and run Womencents. She says having more money does not necessarily fix things - instead, people need a strategy or action plan to achieve their financial goals.But what happens when that business is a farm. To reduce stress, she says people must have power and control over their finances. Vanessa discusses strategies for dealing with some of the big decisions including when to save, when to spend and when to pay down debt.See omnystudio.com/listener for privacy information.