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LEWISTOWN -- Penn State Extension Mifflin County officials say older farmers are often concerned about how they will step away from their businesses and still pass them along to the next generation or operators.
They also worry about their retirement living expenses and how Social Security or Medicare fits into the picture.
That's why Penn State Extension is hosting a free in-person workshop, "Setting the Stage for Succession: Retirement Planning," from 9 a.m. to 3 p.m. Thursday, Dec. 7, at the Penn State Extension office, 152 E. Market St., Suite 100, Lewistown, to assist those who need it.
Officials said this workshop will assist farmers with envisioning their retirement, developing a budget and personal balance sheet and understanding the basics of Social Security and Medicare.
The instructor will be Paula Ledney, education program associate and financial analyst for Penn State Extension. Her expertise is in financial analysis and retirement and succession planning.
Attendees will receive a copy of the FarmPro PA Excel spreadsheet tool, a package containing templates for business and personal financial statements and will also be eligible to receive follow-up, personalized financial planning and Social Security planning information at no cost.
This event is being offered at no cost through a Northeast Extension Risk Management Education grant.
Space is limited. Registration is required. The registration deadline is 11:59 p.m. Wednesday, Dec. 6. To register, visit https://extension.psu.edu/setting-the-stage-for-succession-retirement-planning.