Ways That Farmers Can Diversify Income

By: Shawn Williamson

Recently, a farmer and client of mine passed away. He was a successful farmer with several hundred acres, worth millions of dollars.

The thing that struck me as unusual and important was the fact that the farm was only half of his wealth. The other half consisted of stocks, bonds, mutual funds, and certificates of deposit. To sum it up, he was well diversified, debt-free, and no commodity price downturn was ever going to run him out of business.