Ep. 82 - Taxes, 7702, and IBC Scam Accusations
Farming Without the Bank Podcast
Release Date: 02/19/2021
Ep. 255 - Busting More Myths
Farming Without the Bank Podcast
Let's bust more myths: companies don't pay claims; premiums increase; companies collapse; whole life is expensive; and any agent can help with IBC. Audio Production by Podsworth Media -
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Ep. 254 - Barn Talk Interview
Farming Without the Bank Podcast
I had the privilege of being on the Barn Talk podcast a year ago and want to share that with you guys today. Enjoy! Audio Production by Podsworth Media -
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Ep. 253 - Ways to Use the Infinite Banking Concept
Farming Without the Bank Podcast
It's called "infinite" for a reason, and that can be very hard to see when you are only looking down your lane. What are you using money for that you could actually be using the infinite banking concept for? Is it college, farming, rentals, braces for the kids, or something else? I challenge you to not only take the blinders off but get the book "Becoming Your Own Banker" and dive in. Audio Production by Podsworth Media -
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Ep. 252 - More Myths Busted
Farming Without the Bank Podcast
Today we talk about: Are kids' policies better than adults' policies? Am I just selling you something? Should tobacco users forget about having a whole life insurance policy? Should your premium be a certain percent of your gross income? Can you retire on your cash value? Audio Production by Podsworth Media -
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Ep. 251 - Banks Have Control
Farming Without the Bank Podcast
Regardless of what you think, the bank has control, and you are the employee of the bank. If they call a note and you don't have the cash to pay that, they are in control. You need to know your numbers or they will take an opportunity to manipulate you. Audio Production by Podsworth Media -
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Ep. 250 - What Happens to My Premium Money?
Farming Without the Bank Podcast
This is a common question that I hear, because people think the insurance companies are stealing money. Why? I have no idea... but let's address what they *actually* do with your money to ensure the death benefits get paid out. Audio Production by Podsworth Media -
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Ep. 249 - More Myths Debunked
Farming Without the Bank Podcast
Today we talk about loan interest as a tax deduction; being debt-free but having policy loans; 1035ing cash value; loans for cash flowing assets; and the idea that life insurance companies are banks. Why are these ideas misunderstood or inaccurate? Audio Production by Podsworth Media -
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Ep. 248 - Retirement Income
Farming Without the Bank Podcast
Do you have the cashflow to retire, or are you going to live on a prayer? It's a proven fact that people with money live longer. Start looking at your numbers and count inflation. Audio Production by Podsworth Media -
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Ep. 247 - How Many Policy Loans Can I Take?
Farming Without the Bank Podcast
Let's dig into how loans are treated. The best part of IBC is being in control, the worst part of IBC is being in control of your loans. The company treats it as one loan; they don't question, and they don't care. You are the one who has to figure out how you want to make it back. Audio Production by Podsworth Media -
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Ep. 246 - 3 Types of Interest: Uninterrupted Compounding is King!
Farming Without the Bank Podcast
Here is an example of why Uninterrupted Compound Interest is what you want when looking at interest on anything you're saving. Many talk about compound interest, but they don't talk about what happens when it's interrupted. Audio Production by Podsworth Media -
info_outlineIn this episode, I address what you can and can't write off on your taxes by using the policy, tax code 7702 changes, and how that will affect the policies going forward. I also address the video done by a certain talking head (you probably know who) regarding IBC being a scam. Enjoy!