Learn the steps to amassing millions at Forum

Learn the steps to amassing millions at DairyNZ Farmers’ Forum

DairyNZ business expert, Lynaire Ryan, will show our nation’s youngest dairy farmers how to amass $10 million or more by the time they are 50 at next month’s DairyNZ Farmers’ Forum in Hamilton.

“It sounds too good to be true, I know. When I tell sharemilkers or contract milkers in their twenties that it’s within their reach to build an asset portfolio worth ten, twenty, even fifty million by the time they are fifty years old, most choke on their coffee.

“But, when they see I’m not laughing, they quickly want to know how to make it happen,” explains Lynaire.

Lynaire’s 90 minute workshop is targeted toward sharemilkers, contract milkers and herd managers. It is a spin-off from the extremely successful DairyNZ Mark & Measure programme, in which over 2000 dairy farmers have participated.

In the workshop, she helps young people work through five easy-to-understand steps to wealth creation.

“The very first step to building a multi-million dollar dairy business is to have a dream. And, it’s that dream that keeps you going during the really tough times.

“Once you have your dream, the next steps are to: build a pool of money through saving; educate yourself about investment opportunities; invest wisely; and magnify your returns through sensible borrowing,” says Lynaire.

Her key message to participants in the Steps to Wealth Creation workshop is: put your pool of savings into investments that make around 15%.

“Once people get some money saved, many fall into the trap of failing to maximise their investment returns through their own good management. The real key is to firstly excel in the basics of farming while at the same time ensuring you generate a 15% return from your investments.

“Achieving that 15% annual return is really the secret between being reasonably comfortable in the industry and having complete financial freedom by the time you’re 50,” explains Lynaire.

The Steps to Wealth Creation workshop is part of the two-day DairyNZ Farmers’ Forum, being held on May 5 and 6 at Mystery Creek near Hamilton. The theme of the Forum is ‘Towards 2020: the next decade in dairying.’

The Forum is free to all levy-paying dairy farmers and their staff. For everyone else, registration is $100 per day or $175 for both days.

Workshop topics at the two-day forum are all focused on providing dairy farmers with the knowledge, tools and tips they need to farm successfully into the next decade. Many are led by the country’s top scientists, researchers and dairy industry leaders.

Workshops on offer include such topics as:

• Maintaining resilience during extreme weather events
• Global dairy trends and issues effecting farmers into the next decade
• Successful people management
• Feed conversion efficiency
• Opportunities for supplement use
• Improving reproductive performance

Registration is essential prior to the conference and can be done online at: www.dairynz.co.nz/farmersforum or by phoning 0800 4 DAIRYNZ.

ENDS

© Scoop Media