Farming Without the Bank Podcast

What happens if you use your life insurance as collateral to a bank loan? ...and is there ever a good time to do this? I say no and explain why. Audio Production by Podsworth Media.

I always hear comments like, "It's not easy getting started," or, "It's not easy farming." I'd like to know who said it should be easy! Was it easy for our ancestors who came over to America from abroad? We are asking the wrong questions and have stinkin' thinkin'! Audio Production by Podsworth Media.

So many are worried about how much to pay and committing to so much premium that they can't afford to pay it. That is not an issue, because premium payments are flexible, some more than others, and I discuss that in this podcast. Audio Production by Podsworth Media.

With the large amount of national debt and the non-stop printing of money, many people are scared of the value of the dollar plummeting. In this episode, I talk about what to do to compare and how to be rational about the whole thing. Things are worth what we are willing to pay for them. Life insurance needs to be held to the same standard as everything else, so why are we not doing that? There ar...

This is a question I get a lot from smaller farmers who want to be large. My answers address the questions of: Should we be competing? Are we profitable? ...and what does large look like? It's not an easy answer, but I feel we need to get past what we look like and start looking at profits. Audio Production by Podsworth Media.

You may love or hate me by the end of this episode. Is the Biden plan a bad idea? ...and do we have the right to be upset? Listen in and find out! Audio Production by Podsworth Media.

Back to the Becoming Your Own Banker book review. You'll hear about why you should have a policy on the family and why family banking is so important. The Infinite Banking Concept is not just about you but thinking long term about generations after you. Audio Production by Podsworth Media.

There is not a cookie-cutter answer for this scenario, so I will give you some ideas of how to use it, and why the retirement scenario in Farming Without the Bank is different than the scenario in Life Without the Bank. Audio Production by Podsworth Media.

There is nothing worse than a slimy life insurance agent who wants to talk fast and line his pockets with no regard to those he is hurting. 100% of my German passion comes out here while I share with you some of the sliminess of what is going on in this industry with other agents. Be aware of how they act and what they say. Audio Production by Podsworth Media.

We talk about having life insurance on your employees, using it to lend to them or to use yourself, and then using it for retirement. Audio Production by Podsworth Media.

Remember, Nelson called it the INFINITE Banking Concept. You can use cash value for anything and however you'd like. In this episode, I touch more on that and give you some examples. Audio Production by Podsworth Media.

Here is the answer to your questions about why some policies don't have to be paid forever and when it is smart to use them. This also explains the inheritance example in my Life Without the Bank book. Audio Production by Podsworth Media.

There is a huge difference between simple, compounding, and uninterrupted compound interest, and in this episode, I go over those three. Believe it or not, simple interest is actually better than interrupted compound interest! The policy is very much like your farm ground. Tune in to learn why. Audio Production by Podsworth Media.

Many want to know when they can stop paying premium. When is this paid up? In this episode, I cover the fact that we want to pay for life and that the policy can be paid up at different times and what that means. Audio Production by Podsworth Media.

Premium payments and loan repayments are NOT the same thing. In this episode, I break them apart to help you understand more about what is truly going on in your policy. Audio Production by Podsworth Media.

How do you get your employer to give you the match so you can use it for Infinite Banking? I am not sure I have the answer, but I do have some input on the subject, so listen in! Audio Production by Podsworth Media.

Another chapter review out of Nelson's book, Becoming Your Own Banker. The Infinite Banking Concept does not talk about rates of return because it's not about a rate of return. It's about owning the bank and being the banker. Here I go over that chapter in his book. Audio Production by Podsworth Media.

What we think and how we think truly affects what happens to us. In this episode, I talk about thinking positively and remaining abundant and how that will help, versus staying negative all the time. We all know those people who are just Negative Nellies, and nothing ever seems to go right for them. Then there are those who make the most of every situation. In life, clearly the abundance mindset w...

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. Audio Production by Podsworth Media.

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! Audio Production by Podsworth Media.

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! Audio Production by Podsworth Media.

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! Audio Production by Podsworth Media.

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. Audio Production by Podsworth Media.

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. Audio Production by Podsworth Media.

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. Audio Production by Podsworth Media.