In this episode, Mary Jo joins Tracy Brunet on the Impact Farming Show to explain how the Infinite Banking Concept totally transforms financial planning for farmers. In addition to providing an overview of IBC, they discuss specifically how it is instrumental in making transition planning work, how it helps in "fair and equal" situations with off-farm children, and how it factors into old-age care for the farm founders. Mary Jo gets fiery several times in this episode, including when discussing why farmers work so hard to build their operations for decades only to destroy them by eventually parceling them out and rendering them no longer viable.

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Too many farmers assume “Farming Without the Bank” means living cash-only and staying debt-free. In this episode, Mary Jo Irmen sets the record straight. She breaks down why using cash only could be costing you thousands in lost opportunity, why paying interest isn’t the enemy, and how uninterrupted compound interest is the secret sauce behind the Infinite Banking Concept (IBC).

Whether you’ve read the book or you’re hearing this for the first time, this episode will completely shift how you think about using cash, debt, and life insurance in your farming operation.

🔑 KEY TAKEAWAYS

Why paying with cash isn’t always the smartest move

How borrowing against whole life policies preserves your wealth

The myth of “cash is king” vs. the truth about cash flow and liquidity

Why term insurance isn't cheaper over the long run

How uninterrupted compound interest actually works (and why it's a game-changer)

The arrival syndrome and why most people don’t “get” IBC without reading the book

⏱️ EPISODE TIMECODES

(00:00) – Why most people don’t understand IBC

(00:40) – Clarifying what “Farming Without the Bank” really means

(01:55) – Using cash vs. borrowing against a life insurance policy

(03:02) – Why insurance companies charge interest

(03:49) – Power of uninterrupted compound interest explained

(05:04) – The long-term view: thinking like a forester

(06:57) – Are you paying yourself back with interest?

(07:27) – The flawed “buy term, invest the difference” argument

(08:12) – Why mutual insurance companies are good at making money

(10:03) – The rising cost of term insurance over time

(12:01) – Why cash buyers are ideal IBC candidates

(13:04) – Uninterrupted vs. interrupted compound interest

(14:43) – How to talk about IBC with skeptical friends

(15:32) – Why Mary Jo requires reading the book before meetings

(19:14) – Where to get the book + connect with Mary Jo

📚 RESOURCES & LINKS 📘 Grab your copy of Farming Without the Bank:

👉 https://www.farmingwithoutthebank.com

📅 Read The Book? Book a meeting with Mary Jo:

👉 https://www.farmingwithoutthebank.com/contact

🎧 Listen to the Without the Bank Podcast for more IBC episodes:

👉 Available on all podcast platforms

💬 Email your questions: 📨 [email protected]

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

🔥 WANT TO KEEP LEARNING? Binge past episodes and learn how real farmers are using IBC to transform their operations. You’ll never look at money the same way again.

🌱 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.

📣 Farm Progress Got It WRONG About Infinite Banking

In this no-holds-barred episode, Mary Jo Irmen breaks down a misinformed article published by Nebraska Farmer on the Infinite Banking Concept (IBC). She exposes the inaccuracies line by line, from calling IBC an “investment” to lumping it in with universal life insurance.

Mary Jo calls out the authors' lack of research, clarifies key IBC principles, and explains why misleading articles like this one harm farm families looking for genuine financial solutions. If you're tired of financial "experts" getting it wrong and want the truth about how Infinite Banking can help farmers build generational wealth, this episode is a must-listen.

🔑 KEY TAKEAWAYS

The real definition of Infinite Banking (hint: it’s not an investment)

Why universal, variable, and indexed life insurance have no place in IBC

How misinformation spreads when financial “experts” skip the book

The truth about cash value, death benefit, and tax implications

Why the “rate of return vs. loan interest” argument misses the point

The #1 risk that no one is talking about (and it’s not what you think)

Why Mary Jo insists you read the book before talking to her

⏱️ EPISODE TIMECODES

(00:00) – The problem with IBC misinformation in mainstream ag media

(01:27) – The article that sparked this episode: Who wrote it and what they got wrong

(03:06) – Misinformation starts early: Calling IBC “universal life”

(06:10) – Is cash value an investment? No—and here’s why

(08:18) – What cash value really is (in plain English)

(09:52) – “This rarely works”? Mary Jo responds with real client examples

(11:02) – Yes, you must pay premiums, just like every other type of insurance

(14:26) – Do early premiums go mostly to the death benefit? Not if you do it right

(16:30) – Fearmongering about MECs and taxes

(18:59) – The truth about interest: It’s not free money

(22:12) – Long-term thinking and uninterrupted compound interest

(23:02) – Why you must vet both the company and your agent

(28:00) – What the article didn’t say (and why it matters)

(30:46) – How industry gatekeeping blocks real financial solutions

(33:28) – Mary Jo’s call to action: Don’t let misinformation win

(35:36) – Final thoughts and how to take the next step

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

📞 Ready to talk? Book a meeting after reading the book 👉 https://www.farmingwithoutthebank.com/contact

📬 Got questions? Email Mary Jo 📨 [email protected]

👍 Follow on Facebook for more myth-busting content 🔗 https://www.facebook.com/FarmingWithoutTheBank

🎧 Listen to past episodes of the Farming Without the Bank Podcast 👉 Available on Apple, Spotify, and all major platforms

🔥 WANT THE TRUTH ABOUT IBC? Start by reading the book. Then come back and re-listen. You’ll hear everything differently. This is your path to control, liquidity, and generational wealth—on your terms.

🎙️ EP. 310 – Arrival Syndrome at Its Finest

Why is it so hard to get others to understand Infinite Banking, even when you’ve done the work and read the book?

In this episode, Mary Jo Irmen breaks down one of the biggest barriers to spreading the truth about IBC: arrival syndrome—the belief that someone "already knows" and doesn’t need to learn more.

From dismissive family members to skeptics crying “scam,” Mary Jo addresses the frustrating (and sometimes ridiculous) excuses people give when they refuse to do their due diligence. If you’ve ever felt like you’re banging your head against a wall trying to explain IBC, this one’s for you.

🔑 KEY TAKEAWAYS

What "arrival syndrome" is and how it blocks financial growth

Why you don’t need permission from others to take control of your financial future

How to deal with common objections like “it’s a scam,” “I already have insurance,” or “it’s a pyramid scheme”

Why curiosity and education are the foundation of success with IBC

The power of surrounding yourself with like-minded thinkers who “get it”

⏱️ EPISODE TIMECODES

(00:00) – What happens when people leave behind a financial mess

(00:57) – Defining arrival syndrome and how it shows up

(01:39) – A real email: “How do I get others to read the book?”

(02:46) – Why leading with “buy life insurance” fails

(03:21) – Stop waiting for permission to start your policy

(05:28) – What is Parkinson’s Law? (No, not the disease!)

(06:01) – 19-year-old client takes charge—despite his banker mom’s doubts

(08:07) – Mary Jo’s one rule: don’t ask questions if you haven’t read the book

(09:13) – Common (and absurd) objections to IBC

(11:04) – Commission talk: The truth behind how agents get paid

(12:14) – “I already have life insurance.” Do you have enough?

(13:28) – “I wish people could die for 3 years…” (on leaving behind a mess)

(14:39) – “This is a pyramid scheme” and other nonsense

(15:20) – If you’re earning 15% returns, great—here’s how to do even better

(16:15) – Scientology? Seriously?

(18:00) – No book = no meeting. Educate yourself first.

(21:01) – Why critics don’t do their homework

(22:01) – Surround yourself with people who think like bankers

(23:10) – Mary Jo’s advice to frustrated clients: Stop engaging with skeptics

(26:06) – Most people stop learning after high school—don’t be like most

(28:42) – Final thoughts: Find curious people. Ignore the rest.

(29:34) – Episode wrap-up

📚 RESOURCES & LINKS 👉 Grab your copy of Farming Without the Bank: https://www.farmingwithoutthebank.com/book

📘 Get Nelson Nash’s Becoming Your Own Banker https://www.farmingwithoutthebank.com/shop

📅 Read the book? Book a meeting with Mary Jo or John: https://www.farmingwithoutthebank.com/contact

💬 Email questions: 📨 [email protected]

👍 Join the Facebook community: https://www.facebook.com/FarmingWithoutTheBank

🔥 WANT MORE? Listen to past episodes and dive deeper into Infinite Banking with Mary Jo and her clients. You’ll quickly realize this isn’t just about life insurance. It’s about taking back control of your financial future.

Starting a Bank vs. Starting a Policy (w/ John Hasche)

Most farmers don’t question putting capital into their land, cattle, or equipment. But when it comes to life insurance policies, suddenly they hesitate. Why is that?

In this episode, Mary Jo Irmen and John Hasche dig into Nelson Nash’s classic chapter “Creating a Bank Like the Ones You Already Know” and unpack why starting a life insurance policy isn’t all that different from starting a traditional bank. They break down why capitalization is key, how due diligence sets you up for success, and what it means to be the banker, not just the policyholder.

Whether you're new to IBC or revisiting your strategy, this episode is a must-listen for anyone serious about building long-term wealth the right way.

🔑 KEY TAKEAWAYS

Why capitalization is just as important for policies as it is for farms

How starting a life insurance policy mirrors starting a traditional bank

Why studying the business of banking helps you make better financial decisions

How uninterrupted compound interest builds long-term wealth

Why it's critical to choose the right company and the right agent

What happens when you “lock the doors” on your policy and stop funding it

Why treating your policy like a real business is the only way to succeed

⏱️ EPISODE TIMECODES

(00:00) – Why capitalization is non-negotiable

(00:36) – John Hasche returns to review BYOB

(01:13) – Starting a bank vs. starting a policy

(02:37) – Study the business of banking

(05:19) – Capitalization: why you need to put money in

(07:06) – Qualifying for a policy vs. a bank charter

(08:41) – Picking the right company (location of your “bank”)

(10:22) – Making deposits: keeping your policy alive

(12:03) – Breaking even: 7–10 years for banks and policies

(14:38) – Why whole life insurance is a proven system

(16:01) – Fractional reserve banking vs. 1:1 lending

(19:14) – Lessons from Midland Bank’s collapse

(22:01) – Faith in banks, dollars, and crypto

(23:20) – Why loan repayments are crucial

(25:02) – Your responsibility as the banker

(26:05) – Why policies are boring—and that’s good

(27:05) – How to book with Mary Jo or John

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

📅 Read the book? Book a meeting: 👉 https://www.farmingwithoutthebank.com/contact

🎧 Listen to more episodes of the Farming Without the Bank Podcast: 👉 Available on all major podcast platforms

💬 Email your questions: 📨 [email protected]

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

🔥 WANT TO KEEP LEARNING? Binge past episodes and learn how real farmers are using IBC to transform their operations. You’ll never look at money the same way again.

Too many farmers claim they “can’t afford” life insurance premiums—but turn around and spend thousands on tractors, trailers, and toys.

In this episode, Mary Jo Irmen challenges that mindset head-on. She walks through why premiums should be treated like any other farm expense, how to rewire your thinking around affordability, and why putting off Infinite Banking is a costlier mistake than you think. If you’ve ever said “I’ll start when I have more money,” this episode is your wake-up call.

🔑 KEY TAKEAWAYS

How to treat your premium like any other line-item farm expense

Why “I can’t afford it” is usually just a mindset problem

The difference between a luxury and a necessity—and why life insurance isn’t a luxury

What farmers get wrong about return on investment in IBC

How to shift your break-even numbers to include a policy premium

Why waiting costs more than starting small

⏱️ EPISODE TIMECODES

(00:00) – Why farmers say they don’t have “extra money”

(00:29) – Make your premium a fixed expense

(01:08) – You borrow for tractors—why not for banking?

(02:08) – Rethinking your breakeven to afford premiums

(03:17) – Why so many farmers have zero life insurance

(04:24) – We budget for property insurance—but not death?

(06:00) – Whole life + IBC is not a luxury

(07:22) – The grain bin analogy: investing before return

(09:08) – If you die, who’s cleaning up your mess?

(09:54) – What if you just needed 5¢ more per bushel?

(11:04) – Turning $500k/year into $24M of death benefit

(13:14) – Life insurance = scam? Or is the real scam the 401(k)?

(14:25) – The power of a steady, boring policy

(16:04) – Calculate your premium and just bake it in

(17:00) – Reread the book and rewire your brain

(18:04) – Email questions—but don’t expect magic answers

(18:45) – Book your appointment (yes, it’s worth the wait)

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

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

💬 Got questions or a podcast topic? 📨 [email protected]

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

🔥 WANT TO KEEP LEARNING? Binge past episodes and learn how real farmers are using IBC to transform their operations. You’ll never look at money—or “expenses”—the same way again.

Many farmers take pride in being debt-free, but is that pride holding them back?

In this episode, Mary Jo Irmen joins Damien Mason on the Business of Agriculture podcast to challenge the status quo of farm finance.

They tackle the misconceptions around debt, why Infinite Banking isn’t just about operating expenses, and how to use whole life insurance as a financial tool to build liquidity, flexibility, and generational wealth.

Mary Jo shares real examples, powerful insights, and blunt truths about what’s broken in today’s ag financial mindset—and how to fix it using the Infinite Banking Concept (IBC).

Whether you’re just getting started or you’ve been farming for decades, this conversation will shift how you think about money, succession planning, and the real cost of being “debt-free.”

🔑 KEY TAKEAWAYS

Cash isn’t king—cash flow is

Debt isn’t the enemy when it creates opportunity

Farms fail financially because of poor planning, not poor production

Whole life insurance is the key to uninterrupted compound interest

Generational wealth starts with being intentional, not just working hard

⏱️ EPISODE TIMECODES

(00:00) – Why being “debt-free” might be hurting farmers

(00:28) – Intro to Mary Jo Irmen and how she discovered IBC

(02:04) – What the Infinite Banking Concept actually is

(04:09) – How IBC helps farmers become their own banker

(06:04) – Why Mary Jo won’t meet with you unless you read the book

(08:47) – Real talk: a million-dollar loan and what happens next

(10:46) – When to borrow from a policy vs. from a bank

(12:00) – How whole life policies preserve liquidity and control

(13:48) – Why most policies are sold wrong (and what to avoid)

(15:00) – The truth about “cheap” policies and long-term success

(16:22) – Using IBC for more than just operating expenses

(19:07) – Misguided fear of debt and the myth of the humble, broke farmer

(23:08) – The biggest financial mistake farmers make today

(25:27) – Why life insurance is critical for estate transfer

(29:01) – How to use life insurance in a contract for deed

(30:35) – Discounted dollars explained: 18¢ for every $1 passed down

(33:02) – Where to connect with Mary Jo and learn more

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

📅 Ready to talk? Book a meeting after reading the book: 👉 https://www.farmingwithoutthebank.com/contact

🎧 Listen to more episodes of the Farming Without the Bank podcast: 👉 Available on all major platforms

📨 Questions? Email Mary Jo: 📬 [email protected]

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

🎥 YouTube Channel (Mary Jo Irmen): 🔗 https://www.youtube.com/@MaryJoIrmen

🔥 KEEP LEARNING Explore past episodes and see how real farmers are using IBC to grow their operations, protect their legacy, and make smarter money decisions.

Too many farmers are stuck in survival mode, juggling high input costs, debt, and unpredictable markets, without a real plan for control or long-term success.

In this episode, Mary Jo Irmen unpacks the Top 10 Concerns facing today’s farmers and ranchers, from inconsistent cash flow to retirement worries, and shows how five of them can be tackled with the Infinite Banking Concept (IBC). She also shares real stories from client meetings that highlight the importance of knowing your numbers, creating off-farm income, and understanding the financial tools you already have (but may not be using wisely).

This is a wake-up call for anyone still believing the farm will somehow “figure itself out.” If you're serious about taking control of your operation, this episode is a must-listen.

🔑 KEY TAKEAWAYS

Most farmers don't have a cash flow problem; they have a utilization problem

IBC solves 5 of the top 10 farming concerns (including retirement and access to capital)

Why “knowing your numbers” isn’t optional, it’s the foundation of smart financial decisions

Custom work, partnerships, and strategic investing can ease cash flow pressure

Too many farmers are funding banks and Wall Street before their operations

⏱️ EPISODE TIMECODES

(00:00) – Intro + Play Share reminder

(00:44) – The top 10 concerns facing farmers in 2025

(01:27) – #1: Cash flow inconsistency and what to do about it

(02:46) – The “How can I?” mindset shift

(03:53) – Off-farm businesses, capital investing, and cash flow strategies

(04:55) – #2: High operating costs

(05:47) – #3: Debt load and the problem with how farmers buy equipment

(07:16) – #4: Land affordability + succession planning

(07:36) – #5: Access to capital without losing control

(07:58) – #6: Price volatility and market uncertainty

(08:06) – #7: Tax liabilities and the truth about year-end spending

(12:02) – #8: Misunderstanding insurance; PNC, crop, and life

(14:53) – #9: Lack of liquidity for emergencies

(15:16) – #10: Retirement is a concern, but no one is preparing for it

(17:19) – Real example: A client overfunding IRAs while borrowing at 7.5%

(18:13) – A real business example: How one farm family runs it like a Fortune 500 company

(21:03) – The problem with diluted shares in LLCs across generations

(23:00) – Why you don’t need to meet with both John and Mary Jo

(23:54) – Final thoughts: 5 problems solved by IBC, are you ready to do something different?

📚 RESOURCES & LINKS 📘 Get your copy of Farming Without the Bank: 👉 https://www.farmingwithoutthebank.com/book

📅 Read The Book? Book a meeting with Mary Jo or John: 👉 https://www.farmingwithoutthebank.com/contact

🎧 Listen to more episodes: 👉 Available on all major podcast platforms

💬 Got questions? Email Mary Jo: 📨 [email protected]

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

🔥 WANT TO KEEP LEARNING? Explore past episodes and see how real farmers are transforming their operations with IBC. Whether you're running a small farm or a multi-LLC enterprise, there's a better way to manage money in your operations.

Some folks think Mary Jo Irmen doesn’t understand farming. Spoiler alert: she does.

In this episode, Mary Jo sets the record straight about her deep roots in agriculture, from growing up on a cattle ranch in North Dakota to working with thousands of farmers across the country. 

She shares her personal story, her family’s generational farm history, and why that firsthand experience is critical when helping farmers implement the Infinite Banking Concept (IBC).

If you’ve ever wondered whether Mary Jo “gets it,” this episode is the proof.

From banker demands to cattle cycles to generational land transfers, she knows the realities farmers face and why most financial advisors don’t.

🔑 KEY TAKEAWAYS

Farmers don’t need a banker who knows how to farm—they need one who knows how money works

You can’t save the farm without first understanding how to manage cash flow and build your own banking system

Generational wealth in farming takes more than grit; it takes the right mindset and financial strategy

Advisors who don’t understand the lifestyle have no business giving you advice

⏱️ EPISODE TIMECODES

(00:00) – The forgotten piece of every farm operation: the money

(00:26) – People don’t know Mary Jo’s background in farming

(01:10) – Common assumptions during client meetings

(01:47) – Mary Jo’s family history: 4 generations of farming

(03:27) – Discovering Infinite Banking and its fit for farmers

(04:44) – Why she focused her business on working with farmers

(05:52) – The idea behind writing Farming Without the Bank

(07:01) – Owning the bank is pointless if you don’t use it

(07:47) – Why you need to tend to your own bank

(08:00) – Thousands of one-on-one conversations with farmers

(10:03) – You don’t need an agronomist—you need a money expert

(11:03) – Learning farming practices across 47+ states

(13:02) – Most farmers are ignoring the most important asset: money

(14:00) – Preparing for generational transfer isn’t premature—it’s essential

(16:01) – Why Mary Jo really gets farming

(17:01) – There is no such thing as a predictable profit margin

(18:08) – Don’t take advice from someone who doesn’t know the industry

(19:17) – Farming isn’t a job—it’s a way of life

(20:12) – “Every farmer is my farmer.” Why Mary Jo defends her people

(22:20) – You have enough vultures. Don’t work with one more

(23:26) – Yes, Mary Jo still owns farm ground

(24:31) – Why her husband should’ve been born a farmer

(24:50) – How to get the book or contact Mary Jo

📚 RESOURCES & LINKS

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

📅 Ready to talk? Book a meeting with Mary Jo: 👉 https://www.farmingwithoutthebank.com/contact

💬 Questions or feedback? 📨 [email protected]

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

🔥 WANT TO KEEP LEARNING? Binge past episodes and hear how real farmers are using IBC to take back control. If you’ve ever thought “she doesn’t get it,” this episode proves you wrong.