🌱 Seed vs. Harvest: What Are You REALLY Paying Taxes On?

Most farmers and business owners are unknowingly planning for a tax-heavy retirement, and it’s costing them big time.

In this episode, Mary Jo Irmen uses a simple corn jar visual to unpack the powerful financial truth behind “seed vs. harvest” taxation. She explains why paying taxes today (on the seed) is often smarter than paying them later (on the harvest), and how whole life insurance and the Infinite Banking Concept (IBC) let you grow wealth without giving Uncle Sam a bigger cut later.

If you’re putting money into IRAs, 401(k)s, or even Roths without understanding the harvest tax implications, this episode is a must-listen.

🔑 KEY TAKEAWAYS

Why "tax deferral" often leads to bigger tax bills in retirement

The danger of maxing out your 401(k) or IRA without a tax exit strategy

What the government doesn’t want you to know about Roth IRAs

How whole life insurance gives you tax control both now and later

Why borrowing from your policy is income tax-free, and how to do it right

What wealthy people do differently when planning for retirement

How Infinite Banking changes your mindset about taxes, income, and control

⏱️ EPISODE TIMECODES

(00:00) – Are you paying tax on the seed or the harvest?

(01:15) – Why life insurance premiums shouldn’t be deducted

(02:30) – Capital gains and the step-up in basis strategy

(03:35) – IRAs, 401(k)s, and tax-deferred regrets

(04:30) – Roth IRAs: The government’s least favorite tool

(06:00) – The farm analogy for retirement accounts

(06:48) – Why whole life insurance creates tax-free retirement cash flow

(08:00) – Taxes in retirement: The hidden trap

(09:50) – Required Minimum Distributions (RMDs) and government control

(11:03) – Using whole life insurance for smarter cash flow

(12:00) – How wealthy people avoid taxes (legally)

(13:06) – Why Infinite Banking is all about tax positioning

(14:00) – Accountants vs. Financial Advisors: Who’s planning long term?

(15:07) – Retirement income vs. forced distributions

(16:00) – FAQs: Premium deductions, access to cash value, and more

(18:00) – Why the case studies in the book actually matter

(19:45) – Company differences in access to policy cash

(20:00) – Wrap-up and where to get started

📚 RESOURCES & LINKS

📘 Grab your copy of Farming Without the Bank: 👉 https://www.farmingwithoutthebank.com/book/

📅 Already read the book? Book a meeting with Mary Jo: 👉 https://www.farmingwithoutthebank.com/contact

📧 Questions? Reach out: 📨 [email protected]

👍 Follow on Facebook: 🔗 https://www.facebook.com/FarmingWithoutTheBank

🎧 More episodes: Farming Without the Bank Podcast is available on all podcast platforms.

🔥 WANT TO KEEP LEARNING? Binge past episodes to hear how real people are using IBC to take back control of their finances. Start with the case studies,  and never look at retirement planning the same way again.