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Episode 109: "The 8 Biggest Farm Financial Mistakes” w/Michael Langemeier
In this week's episode, we speak to Michael Langemeier, about “The 8 Biggest Farm Financial Mistakes” that he sees farmers making.
Michael is Associate Director for the Center for Commercial Agriculture and a Professor for the Department of Agricultural Economics at Purdue University.
We are thrilled to have Michael joining us to share some amazing insights and ideas with our audience here on The Impact Farming Show. Tracy and Michael chat about the biggest farm financial mistakes that farmers make. They cover everything from financial performance, the importance of cash, the difference between mitigating tax and optimizing profit, risk and return considerations when making decisions, important things to consider when making capital purchases, and much more.
Are you looking to hone your farm business acumen? If so, you will not want to miss this episode.
* Disclaimer - As always, this information is not intended to provide business or medical advice. To ensure that your own circumstances have been properly considered and that action is taken based on the latest information available, you should obtain professional advice from qualified business or medical professionals before acting on any of the information in this post.
Associate Director, Center For Commercial Agriculture And Professor, Department Of Agricultural Economics, Purdue University
Prior to arriving at Purdue, Michael spent 22 years in the Department of Agricultural Economics at Kansas State University. In addition to working on Extension and research projects, Michael taught courses in economic theory and farm management and worked closely with the Kansas Farm Management Association. He also conducted workshops for feed mill managers, emphasizing the importance of tracking financial performance, benchmarking and capital budgeting.
Connect with Michael Langemeier - LinkedIn / Website
The Impact Farming Show
Welcome to Impact Farming, Farm Marketer's video and audio show dedicated to helping Canadian farmers excel in the business of farming. Our goal with this show is to introduce our audience to the people and ideas that are going to make an IMPACT on their farming operation.
Show Host - Tracy Brunet
CEO of Farm Marketer
Tracy and her husband are cattle ranchers in South East, Manitoba. As host of the show, primary producer and agvocate, Tracy is passionate about helping farmers succeed in the business of farming.
In each episode, Tracy chats with today's most successful farm advisors and industry leaders to bring our audience the best and most important ideas.