Farming Without the Bank Podcast

Join us at the Wealthy Cowboy studio as Crockett hosts Mary Jo to discuss the Infinite Banking concept, financial education for farmers, generational wealth, and the importance of cash flow. Uncover the value of knowledge in blue-collar work and creative financial strategies in agriculture. Audio Production by Podsworth Media - https://podsworth.com  

We are discussing the importance of preparing for economic downturns and the benefits of using life insurance policies for financial control and stability. We need to be thinking long-term in the good times and bad times. Audio Production by Podsworth Media - https://podsworth.com  

Stopping premium payments on one policy to start a new policy does not yield a better rate of return! Today we are discussing  the misconceptions around stopping premiums and paid-up additions riders for policies that are set up for Infinite Banking. Audio Production by Podsworth Media - https://podsworth.com  

Cash flow is critical for a sustainable retirement and traditional IRAs and 401ks are falling short, especially with increasing life expectancy and inflation. We explore real numbers and scenarios using a Truth Concepts calculator, showing that individuals need to shift from a savings mentality to focusing on generating consistent cash flow. Audio Production by Podsworth Media - https://podsworth....

There is a difference between farming and running a farm business. In this episode, we're addressing misconceptions about farmers and their finances, the importance of being open-minded and knowledgeable, challenges of marketing, and the importance of networking in agriculture. Audio Production by Podsworth Media - https://podsworth.com  

Today we discuss the importance of considering different perspectives and continuous learning. It's a challenge for some, but we must embrace new ideas and technologies for the sake of personal growth in life and work. Audio Production by Podsworth Media - https://podsworth.com  

Let's explore who actually owns all the land in the United States. We all know Bill Gates gets a lot of hate for buying up ground, but where does he actually rank among land owners? Audio Production by Podsworth Media - https://podsworth.com  

In this episode, we dive into the recent Yellowstone episode, highlighting the financial lessons that resonate with real-life ranching and farming scenarios. Let's discuss the importance of running a ranch like a business, handling taxes wisely, and the pitfalls of poor estate planning. Audio Production by Podsworth Media - https://podsworth.com  

The value of goods like vehicles, houses, and land is driven by what people are willing to pay. Today we're talking about high living costs as a result of our own human behavior, emotional decisions, and the lack of spending limits. Audio Production by Podsworth Media - https://podsworth.com  

Explore the intricacies of whole life and learn why my illustrations often show a decrease in premium. We are taking a closer look at policy structure, MEC, payment splits, and financial planning considerations. Audio Production by Podsworth Media - https://podsworth.com  

Tune in for an enlightening discussion with Taylor Moyer about LandTrust, a platform helping farmers and ranchers monetize their land through hunting, fishing, and other recreational activities. We're discussing liability, earnings potential, and how landowners can seamlessly integrate this revenue stream while maintaining control over their property. Audio Production by Podsworth Media - https://...

Borrowing against life insurance policies does not make you debt-free! Think logically, be financially responsible, and understand that moving debt doesn't eliminate it. Audio Production by Podsworth Media - https://podsworth.com  

Be careful who you trust to set up a policy for you! Here are some tips on identifying authorized practitioners and ensuring you are getting accurate information. Audio Production by Podsworth Media - https://podsworth.com  

Life insurance offers guarantees, liquidity, control, and uninterrupted compound interest, which makes it fundamentally different from traditional investments with returns. Understand your policy so you can sift through the sea of noise created by financial advisors. Audio Production by Podsworth Media - https://podsworth.com  

Learn the significance of charging interest when lending money to family members. We're discussing how adopting the role of an honest banker will not only minimize lost opportunity costs, but actually benefit both the lender and the borrower in the end. Audio Production by Podsworth Media - https://podsworth.com  

Learn why loans on your policy do not generate income, but instead how paying extra interest as premium will maximize financial growth. We break down key principles from Nelson Nash's book, highlighting strategic borrowing, repayments, uninterrupted compound interest, and the honest banking practices needed to become your own banker. Audio Production by Podsworth Media - https://podsworth.com  

Meet John Hasche, a trained agent and expert in Infinite Banking and farming-related financial solutions. We are talking about the power of death benefit, the financial flexibility that IBC allows, and why John might be the right agent to schedule with, especially for those eager to start a policy this year. Audio Production by Podsworth Media - https://podsworth.com  

Let's talk about starting using IBC during challenging economic times, especially when commodity prices are low. It's all about being strategic, beating Parkinson's Law, and maintaining financial control. Audio Production by Podsworth Media - https://podsworth.com  

Today we're addressing common concerns about committing funds to life insurance policies and the importance of understanding the long-term benefits. Using life insurance as a financial tool is like building a business or farming; we need to be patient to see the long-term gains. Audio Production by Podsworth Media - https://podsworth.com  

The owner has ALL the control and owns that asset. No one can ever change that; not even if you die before the insured. Audio Production by Podsworth Media - https://podsworth.com  

Some miss the point of IBC being done through dividend paying whole life insurance policies, and they think a money market is the same. There are 5 big reasons why they are not even close to the same. Audio Production by Podsworth Media - https://podsworth.com  

Here are the four things I run into when I see farms in LLCs. There are good reasons to have an LLC, but unless you do your setup and maintenance right, you will actually be hurting further generations. Audio Production by Podsworth Media - https://podsworth.com  

We have far too many current farm owners who are in debt, and the next generation is trying desperately to save the farm by putting themselves at risk. This has to stop! Audio Production by Podsworth Media - https://podsworth.com  

Shane Anderson talked to us about how he made the decision to quit working off the farm and farm full-time. Tune in! We have solid advice about how to do it. Audio Production by Podsworth Media - https://podsworth.com  

So many people, ag industry included, want to be quick to make the judgment that, "people don't understand us." Let me encourage you to stay openminded, look at both sides of the story, and teach and communicate well with people instead of fighting and being short. Audio Production by Podsworth Media - https://podsworth.com