Farming Without the Bank Podcast
Episodes
Ep. 51 - Fun Suckers, Negative Nellies, & Keyboard Warriors
17 Jul 2020
Contributed by Lukas
We have a choice to either see potential or not, to build each other up or to tear each other down. In this episode, I point out some different ways o...
Ep. 50 - Tiered Tax Structure
10 Jul 2020
Contributed by Lukas
Many do not understand how our tax system works in the U.S., so I share the very basics of what I know. Understanding this saves you money and puts th...
Ep. 49 - Why Shouldn't Farmers Be Rich?
03 Jul 2020
Contributed by Lukas
Society has led you believe that you should be broke because you farm for a living, that you should have to explain yourself if you have nice things, ...
Ep. 48 - My 2 Cents on Estate Planning
26 Jun 2020
Contributed by Lukas
This is my two cents on estate planning as an off-the-farm kid. I am not an expert, but when I see both sides, I always see some things being done foo...
Ep. 47 - Picking an Agent & Company
19 Jun 2020
Contributed by Lukas
Many people want to work with a local agent, and I understand why. If this is you, I will help answer some questions about why you want to have someon...
Ep. 46 - The Laws
12 Jun 2020
Contributed by Lukas
I go over two more chapters in Becoming Your Own Banker. I discuss Parkinson's Law and Willie Sutton's Law. You'll hear how human nature keeps us in s...
Ep. 45 - How to Start from Scratch
05 Jun 2020
Contributed by Lukas
I am not the expert on this, but I want to give you a few ideas of what to look for and how to think about starting your own operations. Many people a...
Ep. 44 - Building Your Bank with Dividend Paying Whole Life
29 May 2020
Contributed by Lukas
I break down another chapter from Nelson's book, "Becoming Your Own Banker", and we talk about why we use dividend paying whole life, security of the ...
Ep. 43 - Client Interview: Nate Bliler
22 May 2020
Contributed by Lukas
Listen in on another client interview and hear how Nate is navigating his operation with his family and using his IBC policy to hedge some cattle. Aud...
Ep. 42 - Creating a Bank Like the One You Know
15 May 2020
Contributed by Lukas
Today I go over this chapter from Becoming Your Own Banker and break down what Nelson was trying to say. Opening a new bank is not easy; it takes capi...
Ep. 41 - Policies on Minors
08 May 2020
Contributed by Lukas
So much good information in this episode! Should you have a policy? When is the best time to buy? How will it be used? Who will own it? How much can y...
Ep. 40 - Do Professional Opinions Matter?
01 May 2020
Contributed by Lukas
We love to ask the professionals (like accountants, advisors, and attorneys) their opinions, because after all, they are the professionals. What I sha...
Ep. 39 - Client Interview: Meghan Foos
24 Apr 2020
Contributed by Lukas
Meghan shares her experience with vetting me and the infinite banking concept before doing anything. She also shares her heart wrenching story of how ...
Ep. 38 - The Seen & Unseen of ROR
17 Apr 2020
Contributed by Lukas
Nelson Nash would always talk about "the unseen", meaning, what can we do with our money that will produce an additional ROR above and beyond what the...
Ep. 37 - Rolling 401K Money & Lump Sum Premiums
10 Apr 2020
Contributed by Lukas
I received some good questions about if one can roll 401k money into a life insurance policy and if one can do a lump sum premium with that money. In ...
Ep. 36 - Is Debt Bad?
03 Apr 2020
Contributed by Lukas
"Be debt-free. Owe no one any money." We hear this all the time, but is that truly the best? I talk about if all debt is either good or bad, that cash...
Ep. 35 - My Thoughts on the Market & Economy
27 Mar 2020
Contributed by Lukas
In this episode, I share my opinions on the market advice we get from others, "hang in there", the 10% "penalty", what is happening in the economy rig...
Ep. 34 - Client Interview: Randy Morris
20 Mar 2020
Contributed by Lukas
I am so excited to have my client, Randy Morris, on for today's podcast interview. Randy lives in Kansas and not only has some great insight on the In...
Ep. 33 - Buying and/or Selling Strategies
13 Mar 2020
Contributed by Lukas
So many people think the only option to buy is by going to the bank and borrowing money. Many who want to sell don't sell because of capital gains and...
Ep. 32 - Multiple Policies and No Plan is Perfect!
06 Mar 2020
Contributed by Lukas
So many people want to get this right the first time. They only want one policy that can do it all for their whole life. I talk about the fact that th...
Ep. 31 - Why We Need Higher Interest Rates
28 Feb 2020
Contributed by Lukas
Before you go yelling at me, just take a minute to listen in and think about what is really happening in a low interest environment. Savers are being ...
Ep. 30 - Why Don't I Get Access to All My Money Year One?
21 Feb 2020
Contributed by Lukas
In this episode, I talk about the upfront cost of starting a whole life policy and why we have a broken thought process and need to think long term. R...
Ep. 29 - Premiums Equal Income
14 Feb 2020
Contributed by Lukas
R. Nelson Nash suggests this in his book, and it's a topic that has gotten lots of attention lately. I address my feelings about this and the need for...
Ep. 28 - Client Interview: Austin Schultz
07 Feb 2020
Contributed by Lukas
Mary Jo welcomes to the show her client, Austin Schultz, from Stewardson, Illinois, to discuss how he has used the Infinite Banking Concept to relieve...
Ep. 27 - Bank Owned Life Insurance (BOLI) & Others Who've Started Well Known Businesses
31 Jan 2020
Contributed by Lukas
In this episode, I'll share with you how much money banks have in cash value in insurance policies and why it's so important for them to have it on th...
Ep. 26 - Client Interview: Geoff Pierce
24 Jan 2020
Contributed by Lukas
In this episode, I interview my client, Geoff Pierce from Nebraska. Geoff has been a client since 2016, and you'll hear all about his thoughts in the ...
Ep. 25 - 5 Principals of the Infinite Banking Concept
17 Jan 2020
Contributed by Lukas
To help you better understand where Nelson Nash was coming from when he created the Infinite Banking Concept, I break down his five main principals. A...
Ep. 24 - Who's Running Your Operation
10 Jan 2020
Contributed by Lukas
Warning: Today's podcast may offend you or just plan tick you off. As a farmer, rancher, or anyone in the ag industry, you want to be self-employed. Y...
Ep. 23 - Common Objections to IBC
03 Jan 2020
Contributed by Lukas
Get the answers to the most common objections I hear from clients, things I read online, and people passing by at farm shows. I am sure you have heard...
Ep. 22 - Money Flows from ONE Big Pool
27 Dec 2019
Contributed by Lukas
For no other reason, you may want to listen to this episode just to hear why Mary Jo is talking about people peeing in the pool. She will get into how...
Ep. 21 - Why Haven't I Heard of This?
20 Dec 2019
Contributed by Lukas
In this episode, I talk about why IBC may sound too good to be true, why you haven't heard about this, and why I felt the same way when I came across ...
Ep. 20 - You Don't Make Money Taking Loans
13 Dec 2019
Contributed by Lukas
Don't get me wrong: taking loans is the best option in the policy, but I address why so many people think it's a money maker and why it's actually not...
BONUS - Pay Taxes or Avoid Taxes?
29 Nov 2019
Contributed by Lukas
In this episode, I lay out when it may be wise to buy something to avoid taxes and when it may be wise to avoid buying things instead. There may be a ...
Ep. 19 - The Federal Reserve, Fractional Reserve Banking, & the Birth of IRAs
28 Nov 2019
Contributed by Lukas
Today's episode is a little lesson on why inflation is killing our dollar and how it's affecting you. You'll hear how the banks make money and why the...
Ep. 18 - Owning Insurance on Other People's Lives
22 Nov 2019
Contributed by Lukas
In this episode, I tackle the importance of owning insurance on other people's lives and answer important questions like: How do you go about doing th...
Ep. 17 - Size Doesn't Matter
15 Nov 2019
Contributed by Lukas
Get your mind out of the gutter! If you have ever wondered if your operation is too small or too large, your answers are in this episode! I even addre...
Ep. 16 - Family and Business, with Jolene Brown
08 Nov 2019
Contributed by Lukas
This is a bit longer of an episode than normal, but you won't even notice! Jolene Brown and I visit about how to communicate with family, recognize th...
Ep. 15 - Tax Advantages of Whole Life and IBC
01 Nov 2019
Contributed by Lukas
Many think there is some sort of loophole inside of the Infinite Banking Concept and that we are holding out on an awesome secret. In this episode, I ...
Ep. 14 - Dave Ramsey and Whole Life Insurance
25 Oct 2019
Contributed by Lukas
Why doesn't Dave like whole life insurance? This is a pretty common question, and in today's episode, I address my thoughts on Dave and why he doesn't...
Ep. 13 - You Don't Have to be Debt Free to Start IBC
18 Oct 2019
Contributed by Lukas
This episode is all about getting started with IBC and getting over what you've been taught to think. There are times we want to do long-term loans so...
Ep. 12 - Diversification, with Joshua Citrus
04 Oct 2019
Contributed by Lukas
Many farmers talk about diversification within their own asset class. For example, planting different types of crops or growing different types of ani...
Ep. 11 - Life Insurance is NOT an Investment
20 Sep 2019
Contributed by Lukas
I am often asked to compare what I do to investments. In this episode, I ask you a question that most financial advisors will never ask. In addition, ...
Ep. 10 - Your No. 1 Source and Creator of Value
06 Sep 2019
Contributed by Lukas
This episode will challenge your thought processes, yet again, so please open your minds before you hit play. I am going to talk to you about your num...
Ep. 8 - Starting from Scratch vs. Taking Over an Operation
09 Aug 2019
Contributed by Lukas
Today we attack the age-old notion that it's easier to start farming when inheriting a family operation vs. starting from scratch. Mary Jo touches on ...
Ep. 7 - Where Do I Find Money to Start IBC
26 Jul 2019
Contributed by Lukas
The biggest thing holding many folks back from starting IBC is the question of where to find the money to start the process. In this episode, I go ove...
Ep. 6 - Farming with Millennials
12 Jul 2019
Contributed by Lukas
Love them or hate them, the millennial generation is here to challenge us, and I am loving every minute of it. They are truly looking ahead to see wha...
Ep. 5 - The Reasons For Whole Life Insurance
28 Jun 2019
Contributed by Lukas
We're digging deep into life insurance today and talking about why we use dividend paying whole life with a mutual company for the Infinite Banking Co...
Ep. 4 - What is the Infinite Banking Concept
14 Jun 2019
Contributed by Lukas
Today we get down and dirty about what this Infinite Banking Concept actually is. You'll find out who the founder is, why he started it, and what we n...
Ep. 3 - Cashflow is King, Cash is Queen
31 May 2019
Contributed by Lukas
In this episode, I talk about the fact that Cashflow is King, and Cash is Queen. I tackle a lot of traditional mindsets here, and you may be challenge...
Ep. 2 - The 103 Year-Old Banking Problem
31 May 2019
Contributed by Lukas
We have a 103 year-old banking problem in the farming industry, and most farmers have become complacent about it. I talk about this problem and how it...
Ep. 1 - Introduction
31 May 2019
Contributed by Lukas
Welcome to the Farming Without the Bank podcast! This first episode will help you learn a little about what I'll be sharing on this podcast and who I ...