Welcome to the Farming Without the Bank podcast, the show with a no-B.S. approach to money, hosted by a farm strategy expert and authorized IBC practitioner. Join us as we get real and expose the flaws of traditional financial institutions in order to help farmers take control of their finances, create peace of mind, grow their wealth, and leave a legacy. https://www.farmingwithoutthebank.com/
Are boomer farmers actually greedy? Or are younger farmers stuck in victim mentality?
In Episode 372 of Farming Without the Bank, Mary Jo Irmen tackles the generational war in agriculture head-on — silent generation, boomers, Gen-X, millennials, and Gen Z. Young farmers say boomers are greedy for wanting top dollar for land. Boomers say millennials and Gen Z are lazy. Both sides are wrong.
Mary Jo breaks down why farmland is retirement, how auctions set the price, why no one owes you a discount, and how small to mid-size farms ARE making money when they run it like a business. Plus the rental house story, the free corn stalks story, and how to actually buy the neighbor's farm by building relationships and using buying farmland strategies with farming without the bank .
Stop categorizing. Start building. Learn how to fund farm succession and buy land without begging the bank.
Buy the book: https://www.FarmingWithoutTheBank.com/book
Email Mary Jo: MaryJo@WithoutTheBank.com
Chapters:
00:00 - Stop Calling Boomers Greedy
01:45 - Why This Episode Had To Happen
03:00 - Victim Mentality Gets You Nowhere
04:30 - It's Their Land, It's Their Retirement
06:30 - Auctions Set The Price, Not Greed
08:15 - The Rental House and Free Corn Stalks Stories
10:15 - Small Farmers ARE Making Money
12:00 - Side Gigs and Off-Farm Jobs To Get Started
13:30 - You Won't Buy Land By Insulting The Owner
15:00 - Millennials and Gen Z Are NOT Lazy
16:30 - How To Actually Buy The Farm
Audio Production by Podsworth Media - https://podsworth.com
It's TROLL DAY on Farming Without the Bank Ep 371 with Mary Jo Irmen — and the trolls brought their best hate comments.
Mary Jo reads them all and answers back: charging her own son 9% interest (vs 11% at the bank), helping a client farm 6,000 acres from scratch, why dividend-paying whole life insurance beats parking cash, and why the rich get richer when money is redistributed.
If you've ever been told "never finance anything," "never charge your kids interest," or "no one buys a farm as an investment" — this episode breaks down the broke mindset vs. abundance mindset behind those comments, and how to use infinite banking and farm finance principles to keep control of your money.
Buy the book: https://www.FarmingWithoutTheBank.com/book
Email Mary Jo: MaryJo@WithoutTheBank.com
Chapters:
00:00 Why Comment At All
00:17 Welcome To Troll Day
01:34 Rocky And Ray On Debt
03:21 Policy Question And Scam Claims
04:25 Money Skills And Wealth Mindset
07:09 Farm Investment Trolls
09:35 Charging Kids Interest Explained
13:02 Victim Mentality Vs Abundance
16:49 Final Thoughts And Book Plug
Audio Production by Podsworth Media - https://podsworth.com
Lending money to your kids from ONE policy is a recipe for a family fight. In this episode, Mary Jo Irmen shares 2 creative strategies she used this week to solve real client problems around kids, money, and fairness.
If you have 3 kids and help one start a business and another go to college — how do you make it fair to the third kid when you die? And what do you do when your 16-year-old has $30K from 4-H/cattle sales but can't own a policy or do extra premium in year one?
Mary Jo breaks down exactly what to do.
IN THIS EPISODE:
Chapters:
00:00 Why Strategy Matters
00:47 Podcast Intro and Focus
01:17 Three Kids Unequal Help
02:44 Separate Policies Per Child
04:06 Limits Insuring Adult Kids
05:34 Minor Money Workaround
09:15 Ownership and Cash Value
10:32 Insurance Value Rules
12:03 Experience Drives Creativity
13:51 Wrap Up and Next Steps
Buy the book: https://www.farmingwithoutthebank.com/book
Email Mary Jo: MaryJo@WithouttheBank.com
Audio Production by Podsworth Media - https://podsworth.com
Mary Jo's back with three money topics every farmer and rancher needs to hear. The thread running through all of them: it's not how much money you make — it's how you USE it.
In this episode: the private equity news making headlines in the life insurance world (and why Mary Jo's clients don't need to panic), the "no medical exam up to $4 million" hook being pitched to farmers on Instagram, and the scarcity mindset that's holding back the entire agriculture industry — including why letting your hired man run a few cows might be the smartest move you make.
What you'll learn:
⏱️ Chapters:
0:00 Intro & What's On Today's Mind
1:12 Private Equity in Life Insurance (Mass Mutual in the News)
4:05 The "$4M No-Medical" Hook Targeting Farmers
11:19 It's Not What You Make, It's How You Use It
15:08 Let Your Hired Man Run Cows? The Scarcity Mindset
21:23 Wrap-Up & How to Reach Mary Jo
📧 Questions or a topic you want covered? Email Mary Jo at maryjo@withoutthebank.com
📚 Grab the books: https://www.farmingwithoutthebank.com/book
#FarmingWithoutTheBank #InfiniteBanking #ScarcityMindset #Agriculture #AmericanFarming
Audio Production by Podsworth Media - https://podsworth.com
The biggest threat to your farm's legacy isn't the bank — it's an unplanned long-term care event. In this episode, Mary Jo Irmen sits down with long-term care expert Michelle Prather, author of Who's Wiping Your Assets?, to unpack why modern long-term care insurance is nothing like the outdated "flip phone" policies you may be picturing.
Michelle breaks down the reality most families ignore until it's too late: there's a 91% chance you or your spouse will need care — and care today can run $8,000 to $15,000 a month, fast liquidating the very assets you spent a lifetime building. For the agriculture community — often "land rich, cash poor" and laser-focused on legacy — the stakes are even higher.
You'll learn:
- Why long-term care isn't just for the elderly — cancer, strokes, and farm accidents don't check your age first
- The difference between old rigid policies and new flexible ones (including home care and caregiver respite)
- How to fund coverage tax-efficiently using IRA distributions or cash-value life insurance — sometimes saving six figures versus paying premiums traditionally
- Why lifetime coverage matters, especially for couples and women
- The critical reason you must plan before a crisis — as Michelle puts it, "my house is already on fire" is no time to shop for coverage
Long-term care isn't about nursing homes. It's about protecting your assets, your family, and your dignity — so the next generation inherits the farm, not the bills.
Get the book: https://FarmingWithoutTheBank.com
Email: MaryJo@WithoutTheBank.com
Schedule an appointment with Michelle:
https://link.captivationhub.com/widget/bookings/without-the-bank-care-income-planning
Chapters:
00:00 Introduction
00:46 Meet Michelle Prather — Long-Term Care Expert
01:15 Why Long-Term Care Planning Matters for Farmers
02:30 Premium Examples: What Coverage Actually Costs
05:00 Payment Options: Single-Pay vs. 10-Pay vs. 20-Pay
07:30 What Triggers a Long-Term Care Payout
14:56 Lifetime Coverage vs. Limited Benefit Periods
25:00 Old "Flip Phone" Policies vs. New Flexible Policies
29:45 Why Having a Good Agent Matters
34:59 Are Long-Term Care Premiums Tax-Deductible?
37:59 Funding Premiums with IRAs & Annuities
43:50 The Death Benefit in New Policies
48:50 Health Conditions & Eligibility: When It's Too Late
53:00 Elimination Periods & Paying Family for Care
1:04:45 Premium Waivers & Joint Policies
1:07:00 Long-Term Care for the Wealthy
1:15:52 Long-Term Care with Limited Assets & Medicaid
1:24:58 Paying Premiums with Cash-Value Life Insurance
1:41:27 Michelle on Working with the Farming Community
1:49:30 Final Thoughts & Contact Info
Buying a whole life insurance policy for infinite banking? Many agents have no idea what they're actually selling you — and it could cost you decades of compound growth.
In this episode, Mary Jo breaks down the 5 things you MUST check before you sign anything, based on a real client who bought from a local agent instead of coming to her first (and what he got wrong):
1️⃣ Does it have cash value in Year 1? (If not, you bought traditional whole life — not a policy designed for infinite banking)
2️⃣ Is there a Paid-Up Additions (PUA) rider — and how flexible is it?
3️⃣ Is there term insurance riding on it, and does the death benefit drop off later?
4️⃣ Is it a dividend-paying policy, and where are those dividends going?
5️⃣ Is your agent talking about a "rate of return"? (If so, it's not whole life — run)
Mary Jo also shares the real story of her husband's policy losing $500,000 in death benefit overnight when a level term rider dropped off — a mistake she now makes sure her clients never repeat.
⏱️ TIMESTAMPS
0:00 – Why Mary Jo won't give advice on a policy she didn't sell you
1:46 – The 5 things to check before buying a whole life policy
8:12 – How her husband's policy lost $500K in death benefit overnight
14:35 – Recap: the 5-point checklist
15:57 – Why "just tell me how to use it" doesn't work that way
Want Mary Jo or John to review an illustration you've already been sold — or one someone's trying to sell you? Email the show. We'll tell you exactly what to watch for.
📚 Grab the books: Farming Without the Bank + Becoming Your Own Banker (bundle available)
#InfiniteBanking #WholeLifeInsurance #infinitebankingsystem #infinitebankingconcept
Audio Production by Podsworth Media - https://podsworth.com
Mary Jo Irmen walks through a real whole life insurance policy illustration for a 27-year-old client paying just $6,000 a year — and the numbers might surprise you.
In this episode, Mary Jo breaks down what the cash value growth actually looks like year by year, what happens when you add extra premium in year one, and why so many people have been waiting too long to get started when they didn't need to.
What you'll learn in this episode:
- Why $500/month ($6,000/year) is enough to build serious cash value over time
- How compound interest and dividends work once your policy "crosses over" (around year 4)
- The paid-up additions rider and why it accelerates your break-even point to year 7
- What happens if you put in an extra $11,000 in year one — and how that impacts your cash value at age 82
- Why paying in $211,000 over a lifetime can result in $843,000+ in accessible cash value
- How health ratings affect death benefit (not cash value as much as you think)
- Why you should stop waiting until you "have enough" — and just start
Ready to get started?
📧 Email Mary Jo: maryjo@withoutthebank.com
📧 Email John: john@withoutthebank.com
📚 Grab the book bundle (Farming Without the Bank + BYOB + Life): https://www.farmingwithoutthebank.com/book
Chapters:
00:00 Cash Value vs Death Benefit
00:44 Why Start Small Now
03:19 Case Study Setup
03:46 6000 Premium Walkthrough
06:10 When Cash Value Overtakes Premium
06:34 Avoiding MEC and Long Term Results
07:47 Using Cash Value Loans
08:51 Term Blend and Death Benefit
09:37 Adding Extra Year One
11:37 Break Even Faster
14:22 Age and Health Impact
16:51 Dividend Assumptions and Next Steps
17:53 Books and Contact Info
18:56 Closing Remarks
Audio Production by Podsworth Media - https://podsworth.com
Are you waiting until you have more money before starting infinite banking? Mary Jo Irmen explains why you may not need $100,000—or even a large amount of money—to begin.
In this episode of Farming Without the Bank, Mary Jo discusses why people often delay after reading the book, how to identify a comfortable starter premium, and why starting with a smaller policy can be better than waiting indefinitely. She also explains how a system of multiple policies works, how to use future cash flow from paid-off loans or side work, and why planning ahead for family land and estate needs matters.
The goal is not to force a premium that does not fit your situation. It is to make the appointment, look at the numbers, and determine what is realistic for you right now. As Mary Jo explains, the numbers in the book are examples—not requirements. Sometimes, you simply need to subtract a zero and start where you are comfortable.
Chapters:
00:00 Stop Waiting To Start
00:57 Podcast Intro And Big Question
01:11 Why People Delay After Reading
02:51 Using Policies Not Saving
03:52 Finding A Starter Premium
06:13 System Of Multiple Policies
07:35 Family Land And Dad Policy
10:23 Create Cash Flow Ideas
13:24 Make The Appointment
14:53 Reread And Next Steps
#FarmingWithoutTheBank #InfiniteBanking #WholeLifeInsurance
What does infinite banking look like in the real world? From bankers and veterans to city kids buying their first ranch — here's a glimpse into the conversations happening behind closed doors.
In Episode 364 of the Farming Without the Bank podcast, Mary Jo Irmen shares a candid recap of recent client meetings that span the full spectrum of agriculture and financial planning — and proves that it doesn't matter where you start, it matters how you think.
In this episode, you'll hear about:
Two bankers whose own clients brought them the infinite banking book — and what they learned
A real enforced illustration breakdown on a universal life insurance policy (the numbers are eye-opening)
Why military veterans MUST get whole life insurance before any PTSD or TBI diagnosis
A mobile vet couple running their ranch like a true business with smart LLC structure
A veteran looking to buy land — and the insurable interest challenge that comes with PTSD
A mobile home repair entrepreneur dominating a four-state niche
Hired hands getting a leg up by running cattle through a feedlot
A nurse with a dream to build a rural hospice center
And the story of a city kid with zero farming background who bought land, found a mentor, and built a real cattle operation from scratch
💡 Key takeaways:
You CAN start farming from scratch.
You CAN build from nothing.
The people who make it aren't lucky — they just refuse to take no for an answer.
📧 Questions or comments?
Email Mary Jo: maryjo@withoutthebank.com
#FarmingWithoutTheBank #InfiniteBanking #WholeLifeInsurance #FarmFinance #StartFarming #AgriculturalFinance #beginnerfarmer
Chapters:
00:00 Ag Dreams Big Small
00:30 Podcast Updates Format
01:34 Staying In Your Lane
02:29 Bankers React To IBC
04:01 Dad Policy Cost Spiral
07:04 No Lapse Rider Warnings
09:09 More Meetings New Faces
09:37 Vet Clinic Ranch LLC
11:22 Veteran Land Insurance
14:07 Taxes Tennessee Homestead
15:11 Niche Success Mobile Homes
16:16 Hired Hands Build Equity
18:47 Hospice Land Vision
20:06 Starting From Scratch
24:01 Cowboy School Mentorship
25:34 Wrap Up And Feedback
An Iowa widow is suing her financial advisor and two life insurance companies after a premium-financed IUL strategy left her family farm buried in $38 million of debt. Mary Jo has been warning about this exact scheme for years — now there's a real lawsuit to prove it.
In Episode 363 of Farming Without the Bank, Mary Jo Irmen breaks down the November 2024 lawsuit involving a debt-free Iowa farm family who was sold $23 million in IUL coverage — with $2.5 million in annual premiums financed through bank loans secured by their paid-off farmland. The strategy was sold as a way to protect the farm from estate taxes. Instead, it put the entire farm at risk.
In this episode:
The original $5 million policy would have covered everything. Instead, the debt hit $38 million. Don't let this happen to your farm.
If you've been presented with a premium-financed IUL strategy — or know someone who has — reach out before signing anything. Mary Jo and John will review it at no charge.
📧 Mary Jo: maryjo@withoutthebank.com
📧 John: john@withoutthebank.com
#FarmingWithoutTheBank #IULInsurance #PremiumFinancing #FarmEstatePlanning #FarmlandProtection
Chapters:
00:00 Premium Finance Warning
00:29 Why This Must Be Shared
03:23 The Iowa Lawsuit Begins
03:36 Agent Background Questions
05:40 Churning and Twisting Explained
08:33 How The Farm Got Pitched
12:10 Premium Financing Mechanics
14:14 Why The Numbers Collapse
19:50 Who To Trust For Advice
22:56 Share and Get Help