Nov 12, 2019
In this episode, I talk about finances with Mary Jo Irmen who
teaches the Infinite Banking Concept. This topic may be
controversial, but I want to get diverse views on the show and
learn about different strategies for farm financial management.
Some of you may agree and others won't, but Mary Jo brings a really
interesting perspective to the table and I hope you'll take a
listen.
>> Why Mary Jo actually works with a lot of younger farmers
before they get into a pile of debt
>> How there are no tax implications or advantages to this
method
>> Why Mary Jo goes whole life coverage in most
situations
>> Why this is a good method for long-term planning and
looking down the road 5-10 years to save for big farm purchases
>> Why treating yourself like a bank to pay yourself back is
a good idea when using your own investments to pay for farm
expenses
>> A discussion about retirement savings
>> Why beginning farmers can be ahead of the game since they
don't have a history of family management style to continue
>> Why her favorite farming tool is a bookkeeper!
About the Guest:
Mary Jo Irmen is the author of the book Farming Without the Bank.
She has a passion to show farmers how to take back control of the
banking function in their operation.