Here is an example of why Uninterrupted Compound Interest is what you want when looking at interest on anything you're saving. Many talk about compound interest, but they don't talk about what happens when it's interrupted.

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You all liked my myth busting before, so here's more! I'll keep the tally rolling. Today we smash myths 6-10! 6. Whole Life insurance is bad because you don't get cash value and death benefit. 7. It's not an IBC policy. 8. It's about a Return on Investment. 9. Dividends are from overpaying on insurance. 10. Fees in Whole life.

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So many people hear a 30-second clip of me talking about successful farmers and think I am an idiot. Yet, that is what I see. I see success because those looking find me and want to learn. Those who spend their time just scrolling are crying in their coffee rather than looking for solutions.

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How much you pay is really set on how you are thinking. Rethink your thinking.

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Let's bust some myths and let the record be set straight. The five myths we talk about in this episode are: 1. You borrow your money, 2. Premium is post-tax, 3. You collect the interest on loans, 4. You can use Universal Life products for IBC, and 5. You don't have to repay loans.

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People often use incorrect terminology when they talk about their life insurance policies and IBC. So let's go over the real meaning of the terms: Pull money, Take money, Tax-Free, Tax-Free Retirement, and IBC policy.

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It's hard to remember that our cash value is liquid and we get to use it. We have been programmed to think we will never see that money again. Remember, when you pay premium, a portion of that premium is available to you right away. You are not giving up access to every dollar you put in.

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If you are questioning how you are going to pay for the new piece of equipment, more cattle, or even a life insurance premium, then build it into your accounting. Successful operations have the costs built in; they don't just hope and pray they will have enough. Many ask how they can get away from the bank. If you want to do that, then build your life insurance premium into your expenses. It's a cost of doing business.

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The entire book is important; are you reading it all, or just one part of it? IBC is the first half, and life insurance is the second half, so be sure to read and re-read the entire book!

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Where would you rather put your money? So many are not thinking correctly. Rethink your thinking!

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