Farming Without the Bank Podcast

There are many ways to structure a policy, and I break it down to three basic ways here and explain why long-term may be better than short-term access. Audio Production by Podsworth Media.

How can you grow your business with all the right people and have them as an asset and not a liability? Audio Production by Podsworth Media.

Those who live closest to mom and dad are the ones who end up caring for them, and those who live far away don't understand the mental, physical, emotional, and economic toll this takes on the caregivers. Audio Production by Podsworth Media.

Nelson addresses this in the book, talking about being the bank owner, lender, and borrow, and why that is important... but I challenge you to look at this with every aspect of your life and why it's important. Audio Production by Podsworth Media.

Bankers will ask why you have so much life insurance or comment that your premium is too high, and many folks are asking me how we should respond. Let's address that, because there is not a simple answer. Audio Production by Podsworth Media.

Clients are asking, and I am prepared... as best I can be for you all to be taken care of. Audio Production by Podsworth Media.

Many are making decent money, but when I meet with them, I find out they have nothing saved. So the questions comes up, where is your money going? Nelson, talks about Parkinson's Law in his book, and we must seriously examine Parkinson's Law and beat it if we want to get ahead in life. Using money correctly and paying attention to it is what wealthy people do. Audio Production by Podsworth Media.

Fun interview with Lincoln going over his direct to consumer start, what he's using the policy for, and why he moved his policy to an agent who understands farming and IBC. Audio Production by Podsworth Media.

We've talked about it before, but let's look again at what estate planners/agents are trying to do to save farms by borrowing against the land to pay premiums. This is so risky, and I have some actual numbers to share as to why this is not going to work. Audio Production by Podsworth Media.

A breakdown of what the difference is between whole life and universal type policies. Audio Production by Podsworth Media.

This episode breaks down a few misunderstandings about IBC, who knows it, and why it's important to educate yourself. Audio Production by Podsworth Media.z

Negative thinking will not provide a solution or get you to the top. This podcast will help you understand why your thinking is helping or hurting where you are going. Audio Production by Podsworth Media.

Ken is a demographer who has some great insight on what is happening in the world and what we should be prepared for. Listen in to see where you can find opportunity. Audio Production by Podsworth Media.

What is going to happen to with the economy going forward? I am not sure anyone knows, not even me. Listen in for my version of the what ifs. Audio Production by Podsworth Media.

This may be long, but it is so worth every minute! Ty shares with us about his business, investments, how he's using his IBC policy, and how he has remained positive through struggles and the loss of loved ones in his life. He is an amazing young man! Tune in and be inspired! Audio Production by Podsworth Media.

Nelson's son-in-law shared the tale of his two fathers (Nelson being one of them), including how they treated retirement and what that looked like to them. One is not right or wrong. If you are going to utilize and understand IBC, you will want to know what Nelson's intentions were, and here I lay them out for you. Audio Production by Podsworth Media.

Nelson said, if you put peanuts in, you get peanuts out. So many want more out of the policy, but they are scared to fund the policy to meet those needs. You have to fix your thinking around it in order to accomplish this. Audio Production by Podsworth Media.

If you are not doing anything with what you have learned here or read in the book, then this information is worthless. The best information in the world can be worthless unless we take action. Let's talk about it. Audio Production by Podsworth Media.

So many farmers and ranchers have direct-to-consumer businesses or manufacturing businesses and want to know about marketing. I have brought on my experts to help answer some of those questions for you. There are times you will not need to pay but just be consistent in your posting on social media. Listen in; this is good stuff. Audio Production by Podsworth Media.

There may be a trick to getting your match and getting the money out without penalty. Also, if you are 30 years old and being told you can save your way into retirement, that is a lie. Because of inflation, you'll need close to $10 million to live like you are today on $100K per year. Numbers don't lie, listen in. Audio Production by Podsworth Media.

Let's debunk this myth that you can't start from scratch and that it's supposed to be easy. Then let's add to it that you should not have to work off the farm and your spouse needs a job in town so you can keep farming. I may have gotten a bit preachy in this episode; be warned. Enjoy. Audio Production by Podsworth Media.

Many want to create wealth in children's policies, and that is not always the best way. If we want generational wealth, we need to start with the older generation first. Listen in to see when it makes sense and when it doesn't. Audio Production by Podsworth Media.

Currently, three things I am being asked about are financial stability of companies with COVID deaths, comments about Bank Owned Life Insurance, and paying your full premium vs. your minimum premium. I address these three and explain more. Audio Production by Podsworth Media.

Many who have policies forget why then even have them. They buy a policy and then never use it to create cash flow or don't pay the full premium. They stop educating themselves and talking to me about how to think differently. Keeping yourself educated on this subject is the difference between being successful or having a savings account. Audio Production by Podsworth Media.

This process is not about handing all the reins over to me and having me make your decisions. This is about you becoming the one in charge and me guiding you through this process to learn. Audio Production by Podsworth Media.