Savings and Investments of North Dakota Farmers
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Off-farm financial investments, such as stocks, bonds, mutual
funds, and certificates of deposit, can offer farmers significant
opportunities for diversification. Moreover, deregulation of
financial markets in the 1980s enhanced the ability of farmers to
invest in these financial assets.
This study reports the results of a mail survey to 473 North
Dakota farmers to identify the type and size of financial assets these
farmers hold, their geographic placement, and their motives for
investment.
The 119 North Dakota farmers who responded to this survey had not
taken advantage of the financial innovations deregulation that
financial markets afford. Their investments were concentrated in
local savings accounts, checking accounts, and farm real estate. Few
respondents had investments outside the state. Less than a third of
the respondents held mutual funds, government securities, or common
stocks. Nearly all of the respondents managed their own investment
portfolios and were concerned primarily with the yield and safety of
financial assets. The respondents saved primarily for emergency and
retirement.
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