Mary Jo Irmen
Farming Without the Bank PodcastEpisodes
Episodes of Farming Without the Bank Podcast
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You all liked my myth busting before, so here's more! I'll keep the tally rolling. Today we smash myths 6-10! 6. Whole Life insurance is bad because you don't get cash value and death benefit. 7. It's not an IBC policy. 8. It's about a Return o
So many people hear a 30-second clip of me talking about successful farmers and think I am an idiot. Yet, that is what I see. I see success because those looking find me and want to learn. Those who spend their time just scrolling are crying in
How much you pay is really set on how you are thinking. Rethink your thinking. Audio Production by Podsworth Media - https://podsworth.com
Let's bust some myths and let the record be set straight. The five myths we talk about in this episode are: 1. You borrow your money, 2. Premium is post-tax, 3. You collect the interest on loans, 4. You can use Universal Life products for IBC,
People often use incorrect terminology when they talk about their life insurance policies and IBC. So let's go over the real meaning of the terms: Pull money, Take money, Tax-Free, Tax-Free Retirement, and IBC policy. Audio Production by Podswo
It's hard to remember that our cash value is liquid and we get to use it. We have been programmed to think we will never see that money again. Remember, when you pay premium, a portion of that premium is available to you right away. You are not
If you are questioning how you are going to pay for the new piece of equipment, more cattle, or even a life insurance premium, then build it into your accounting. Successful operations have the costs built in; they don't just hope and pray they
The entire book is important; are you reading it all, or just one part of it? IBC is the first half, and life insurance is the second half, so be sure to read and re-read the entire book! Audio Production by Podsworth Media - https://podsworth.
Where would you rather put your money? So many are not thinking correctly. Rethink your thinking! Audio Production by Podsworth Media - https://podsworth.com
After talking to over two thousand farmers over the years, I may know a thing or two, and I definitely have an opinion on a thing or two. Audio Production by Podsworth Media - https://podsworth.com
It is all simple when you quit making it so hard. Unfortunately, some people are stuck thinking small and have the mindset that everything is just too hard. Think bigger and ask for help solving the problems! Today I talk about fixing the minds
Our client-only Blacksheep Summit was last week, and we had a fantastic time. Let me tell you about it! Audio Production by Podsworth Media - https://podsworth.com
There's so much talk online about numbers and tactics, but the Infinite Banking Concept is first of all a thought process. So let's get back to basics: here are the 5 principles that IBC is built on. If you are new to the podcast, you're in for
As I throw ideas out there for people, many come back with objections of why I am wrong. Let's challenge the thought process around this one; maybe I am wrong, or maybe we have a scarcity mindset instead. Audio Production by Podsworth Media - h
Many farmers look at their tax returns for their yearly numbers. These are lies; you try so hard to avoid taxes that you are not looking at the real numbers of your operations! P&Ls will give you the numbers we both want. Audio Production by Po
My client Grant Jones joins me to discuss his shrimp farming operation, what all that entails, and how he has used IBC to finance it. Audio Production by Podsworth Media - https://podsworth.com
People love to blame banks for their financial difficulties, but are they really the ones who bear most of the blame? Audio Production by Podsworth Media - https://podsworth.com
What does it look like buying a tree farm, raising cattle, and adding a pumpkin patch? When do you quit your other jobs to focus? Such a great interview with Melanie and Cody Nelson of Iverson Tree Farm; don't miss it! Guests' website: iversont
Why are some IBC-users successful while others say IBC didn't work for them? Why are some business owners successful while the same type of business can be failing miserably for others? Human error. Audio Production by Podsworth Media - https:/
Most people associate family money with bad emotions and greed, yet family money can surely get you to the next level. Audio Production by Podsworth Media - https://podsworth.com
Many feel like loans for things outside of farming are different than for farming, when in fact, they are the same. So I explain more in detail. Audio Production by Podsworth Media - https://podsworth.com
I am not an accountant, but it is that time of year for a friendly reminder of how taxes are tiered. This is a huge part of why you are not always saving as much as you think, and a lot of times, you're just redirecting your dollars from the IR
When taking a cash value policy loan from a whole life insurance policy, it works a bit differently than a bank. It's important to understand all the moving parts here so you can deduct the correct amount of interest on taxes if using that mone
So many people put money into their 401K but don't know the rules. These are not officially hidden, but it seems as if employees don't know on purpose. Audio Production by Podsworth Media - https://podsworth.com
We talk about being the banker with Infinite Banking, but a lot of people do not understand what that means. There are three characters in play, and you want to be all three, not just the borrower. With that comes responsibility that will eithe
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