Farming Without the Bank Podcast

If you are paying interest to the life insurance company and the bank for loans, then why would you have a life insurance company? What does it mean to be the banker if you lose interest? This is a great question which we address in this episode.

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We all have issues with another generation and them not listening to our advice or thoughts. Many think it's their parents, and some think it's their kids! In this episode, I talk about how to get them to listen and if it's even possible!

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Here is the answer to your question of, "How am I supposed to pay myself back for cash purchases?" Many people do not get this because they feel they do not have the money. Here is your answer!

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In this episode, I address what you can and can't write off on your taxes by using the policy, tax code 7702 changes, and how that will affect the policies going forward. I also address the video done by a certain talking head (you probably know who) regarding IBC being a scam. Enjoy!

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In this episode, I talk about the real reason behind Infinite Banking and what people are forgetting, as well as tying in Nelson's chapter, "Cost of Acquisition", and how we forget our time is worth something.

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With commodity prices high, it may be a perfect time to change the insanity of what you are doing and start your own bank or maybe even pay down some debt with that, but for the love of Pete, do NOT avoid taxes with unnecessary spending.

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Back to Nelson Nash's book, Becoming Your Own Banker. On this episode, we talk about the idea of retirement. Most farmers do not consider retiring, which can be good, but this is something we should consider carefully.

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Here we clear up what to do with that extra interest you pay to yourself when you are an honest banker. We also address the question of how many policies a person can have on himself or herself.

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Another chapter review from Becoming Your Own Banker. Why you should capitalize, why it's a lifetime commitment, who to use, and when to get started.

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Here is Part 2 of Equipment Financing from Becoming Your Own Banker. I explain some of the numbers in this chapter and why you need to use your imagination, reason, and logic.

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