Farming Without the Bank Podcast

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. Audio Production by Podsworth Media.

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. Audio Production by Podsworth Media.

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. Audio Production by Podsworth Media.

We are back to Nelson Nash's book, Becoming Your Own Banker, and we are talking about the equipment financing chapter. I go over the four really big things in just the first two pages of this chapter. Tune in to hear them. Audio Production by Podsworth Media.

Many are hung up on interest rates when they should be hung up on liquidity and control of money. I personally experienced the pain, once again, of trying to get a loan from a bank. Having liquid money sure does make things easier. Is "easier" worth a little more interest rate? You'll hear my story of trying to get a loan and why I'd rather pay more interest to save myself the time of answering st...

What happens if we have hyper-inflation and the U.S. dollar is worthless? Does our policy survive? That is the hot-button question at the moment, just as it was 11 years ago when I started teaching Infinite Banking. I address this question in this episode. Like it or not, there is not a sure-fire answer to any of this. Audio Production by Podsworth Media.

Nelson Nash and I both talk about being an honest banker and paying yourself back PLUS interest, but where does that extra money go? Infinite Banking teaches us to be honest and pay ourselves more, so I address why this money may or may not fit in the policy and why Nelson had 49 policies. Audio Production by Podsworth Media.

In this episode, I address those family and friends who may be non-believers and are holding you back from taking the next step. It's a great episode to get you to think about whether they are going to take care of you financially or if that is up to you. Experience and opinion are two very different things. Audio Production by Podsworth Media.

In this episode, I go over how Nelson moved his debt from the banks to life insurance policies and why that led to 49 policies. Audio Production by Podsworth Media.

Tim Bickett and I talk about Being the Light, letting those who have made a difference in your life know it and adding them to your estate planning. This is a great episode to share with family and take action on. Audio Production by Podsworth Media.

Many times terminology on how life insurance is taxed is incorrect. In this episode, I really go over and correct the language and clear up the understanding of how death benefit and cash value are taxed, if they are taxed. This is very important so please pay attention. Audio Production by Podsworth Media.

Many of you are selling direct to consumer and are needing to keep those clients after COVID is gone. I share a little bit of business advice on how to do that, what you need to keep your business strong, and why the strengths of everyone in any operation are key to recognize. I also get a bit passionate about handing over book work and not listening to the bookkeeper. These are all things in busi...

We are back to another chapter of "Becoming Your Own Banker". This may be the most misunderstood chapter of of the book. You will learn why you need to be cautious if you are wanting to put every dollar through an IBC whole life policy. It is most likely not possible or not a good idea. Audio Production by Podsworth Media.

We so often talk about comparing investments to life insurance or comparing ourselves to each other, but in this episode, I want to talk to you about comparing yourself to yourself. We all grow, so give yourself some grace to learn from where you were to where you are today. You are your worst critic. Audio Production by Podsworth Media.

Many are so caught up in looking for the right company, the right policy structure, and numbers that they are forgetting about the basics of the Infinite Banking Concept. So we are going back to the basics in this episode. Audio Production by Podsworth Media.

Another review of Becoming Your Own Banker and why the Infinite Banking Concept is the missing peace to the financial puzzle. You'll learn who the characters in the play are and which one you want to be. Audio Production by Podsworth Media.

We are taking a little diversion on this podcast to talk about how comparison is the thief of joy and how jealousy kills curiosity. These are not my normal topics, but I feel we need to discuss these issues as folks in the ag industry constantly tear each other apart. Audio Production by Podsworth Media.

I break down why interest rates themselves are not the most important thing and why dividends are not something you should be comparing companies on. There is far more to the Infinite Banking Concept than interest rates and dividends. Audio Production by Podsworth Media.

Many people are trying to get debt paid off as soon as they can, but is that the best way to utilize money? In this episode, I go over why we may not want to overpay debt, why a 30-year mortgage may be better than a 15-year mortgage, and when is a good time to overpay and get debt paid down before starting an IBC policy. Audio Production by Podsworth Media.

Today we are breaking down another chapter from "Becoming Your Own Banker" on the Infinite Banking Concept. It deals with how life insurance is priced, why we want the companies to be picky, and our need for death benefit vs. cash. Listen in and enjoy! Audio Production by Podsworth Media.

The Infinite Banking Concept teaches us to be honest bankers, and that not only goes for paying the policy loan back plus interest; it also applies to you using money from savings, capital investments, and getting discounts on land rent or tractor use. In this episode, I go over why it's so important to be honest and record these expenses correctly. Audio Production by Podsworth Media.

Today we have another awesome client interview for you! I am speaking with Ryan Murray. He and his wife Annie are organic dairy farmers in upstate New York. Ryan has studied economics for a long time and really understood IBC when he encountered it. He and his wife are putting it to full use on the farm. Listen in; you won't want to miss this! Audio Production by Podsworth Media.

Today I discuss another chapter from Becoming Your Own Banker. Nelson talks about the fact that this concept is a change in mindset and not about a rate of return. It's about putting value on your own money and taking control of your personal finances. Yet again, we have another great example of why this is not just life insurance and why the policy is the tool. If you don't get this part down, yo...

Harvesting and hauling right to the elevator leaves nothing but stress and guessing. What I have found is if you have the right help marketing your grain and the right people explaining how to do it, then you will earn a profit. So many do not market; they just sell based on today's prices and emotions. Do what the successful farmers are doing. Tim Bickett, who's a branch manager with the Ag Risk...

In this episode, we go over another chapter of Nelson Nash's book, "Becoming Your Own Banker". He talks about "the arrival syndrome" and how harmful it can be to think you know it all and have nothing to learn; it is the very thing that will keep you where you are and stop any growth. Even if you think I'm preaching to the choir about this, listen in for new angles on the importance of learning an...