Farming Without the Bank Podcast

Some miss the point of IBC being done through dividend paying whole life insurance policies, and they think a money market is the same. There are 5 big reasons why they are not even close to the same.

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Here are the four things I run into when I see farms in LLCs. There are good reasons to have an LLC, but unless you do your setup and maintenance right, you will actually be hurting further generations.

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We have far too many current farm owners who are in debt, and the next generation is trying desperately to save the farm by putting themselves at risk. This has to stop!

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Shane Anderson talked to us about how he made the decision to quit working off the farm and farm full-time. Tune in! We have solid advice about how to do it.

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So many people, ag industry included, want to be quick to make the judgment that, "people don't understand us." Let me encourage you to stay openminded, look at both sides of the story, and teach and communicate well with people instead of fighting and being short.

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With commodity prices the way they are now, so many folks are scrambling, yet we have had some decent years in the past. Are you preparing in the good times for the bad times. Are you really looking at your numbers to make sure you are making a profit?

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If the land next door became available, you'd find the money for the land payment... yet many wonder where the money will come from for their IBC policy. Let's talk about it.

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Join hosts Corey and Tanner as they welcome Mary Jo to the Farm4Profit podcast to dive into the world of financial independence for farmers. In this episode, Mary Jo explains the Infinite Banking Concept and how it can be a game-changer for farmers looking to gain financial control, reduce dependency on traditional banks, and build generational wealth. Learn how policies, cash value, and strategic borrowing can revolutionize your approach to farm financing. Whether you're a seasoned farmer or new to the field, this episode offers valuable insights into sustainable financial practices.

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As a consumer, you have to be able to weed through the noise and realize you may actually be smarter than the keyboard warriors online. Let's address some of the comments we can find online in forums that have zero merit.

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Nelson talks about using IBC to self-insure, and I can't say it's as easy as some folks make it out to be. With today's costs, it's very hard on the home and auto side, then you add in crop insurance, and it's nearly impossible, based on the research I have done.

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