Ep. 307 - Fixing Farm Finance, with Damian Mason
Farming Without the Bank Podcast
Release Date: 06/20/2025
Banks Don't Want You Knowing This About Investments (Ep. 334)
Farming Without the Bank Podcast
Most people believe they’re doing the right thing by maxing out their 401(k) or IRA. But what if the entire system is designed to trap you later with higher taxes, forced withdrawals, and lost control? Follow Mary Jo Here: Get the book: In this episode of Farming Without the Bank, we break down The Market Scam from Nelson Nash’s Building Your Warehouse of Wealth** and expose what most financial advisors never explain. Mary Jo dives into Chapter 5 of Building Your Warehouse of Wealth, unpacking why tax-qualified retirement plans may be one of the biggest financial misconceptions of...
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Tiny Town, Huge Risk: What Buying a 60-Year-Old Business Really Takes (Ep. 333)
Farming Without the Bank Podcast
Be open-minded, ditch the negativity, and yes, you can buy that small-town business and make it work. In this episode, Mary Jo sits down with client and Iowa rancher/feed-store owner Erica Lantz, who walked away from a 14-year corporate food job to buy a 60-year-old feed store in a town of 1,000 people… during COVID. 👉 Follow Mary Jo Here: 👉 Get the book: Erica shares how she runs a 5th-generation farm with Dexter cattle, heritage hogs, hair sheep, hypoallergenic curly horses, and silky chickens while modernizing a tiny farm store, creating custom feed mixes, shipping...
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Parents Need to Teach This—Not Schools (Ep. 332)
Farming Without the Bank Podcast
Is your 401(k) really a “benefit”… or did you just get dropped into the government’s boiling pot without noticing? 👉 Follow Mary Jo Here: 👉 Get the book: In this episode, Mary Jo continues breaking down Nelson's book Building Your Warehouse of Wealth (Chapter 4) and why he called tax-qualified retirement plans a scam, how government “help” actually means control, and why cash flow + financial education beat blind 401(k) contributions every time. What we cover in this episode: We walk through the history of pensions, 401(k)s, IRAs and Social Security, and how...
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Change Your Financial Future Now! (Ep. 331)
Farming Without the Bank Podcast
Controlling the Banking Function in Your Life to Change Your Finacial Future! You might be saving 10% of your income… but quietly sending 34.5% of every disposable dollar to banks in interest. In this episode, Mary Jo breaks down Chapter 3 of Building Your Warehouse of Wealth and shows why how money flows is more important than the rate of return you’re chasing. 👉 Follow Mary Jo Here: 👉 Get the book: Using Nelson Nash’s “All-American Family,” we walk through where your money actually goes, why banks always win under the current system, and how using...
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Why Life Insurance Might Be Your Secret Asset! (Ep. 330)
Farming Without the Bank Podcast
Banks classify your life insurance as an asset, so why do so many people treat it like an expense? In this episode, we break down how dividend-paying whole life can be your warehouse of wealth without feeding inflation like the banking system does. 👉 Follow Mary Jo Here: 👉 Get the book: Chapter 1 of Building Your Warehouse of Wealth (Nelson Nash) hits hard: government programs, fractional reserve banking, and how we’ve become “part of the problem” by chasing cheap loans and rates of return. We contrast banks (who lend money that doesn’t exist) with...
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Stop Waiting for Inheritance; Start Farming Now (Ep. 329)
Farming Without the Bank Podcast
Are you waiting on an inheritance, a government program, or the bank to finally let you farm “for real”? In this episode, Mary Jo shows how that thinking is exactly what’s holding you back, and how Nelson Nash warned us about it years ago. 👉 Follow Mary Jo Here: 👉 Get the book: In Episode 329, Mary Jo dives into Nelson Nash’s second book, “Building Your Warehouse of Wealth,” and unpacks why how you think about money, wealth, and government programs determines everything about your financial future. From government “police actions” to farm programs and...
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The Truth About Policy Loans, Dividends, & Inflation (Ep. 328)
Farming Without the Bank Podcast
Most people think policy loans mean “borrowing your own money.” That’s completely wrong, and it’s costing them big. In this episode, Mary Jo breaks down exactly how policy loans work inside Infinite Banking and why understanding the difference can change how you build wealth. 👉 Follow Mary Jo Here: 👉 Get the book: In this deep dive, Mary Jo explains why you’re borrowing the life insurance company’s money, not your own, when using policy loans, and how that lets your cash value keep earning uninterrupted compound interest and dividends. She also addresses common...
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Kyle Busch Lost $8.5M... But It's Not What You Think (Ep. 327)
Farming Without the Bank Podcast
Kyle Busch just sued Pacific Life Insurance for $8.58 million, claiming he was misled by an Indexed Universal Life (IUL) policy. But what if this high-profile case proves everything Infinite Banking practitioners have warned about for years? 👉 Follow Mary Jo Here: 👉 Get the book: In this episode of Without the Bank, Mary Jo breaks down the Kyle Busch life insurance lawsuit, exposing how IULs are often mis-sold and why dividend-paying whole life insurance is still the gold standard for Infinite Banking. She dives into: ◦ Why IULs, VULs, and ULs collapse faster than you...
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Bitcoin vs. Infinite Banking: Why I Still Choose Gold & Silver (Ep. 326)
Farming Without the Bank Podcast
Bitcoin fans say it’s the future. I say: show me how it actually solves real-world money problems. In this episode, I walk through the biggest unanswered questions I still have about Bitcoin: volatility, inheritance keys, “who’s in charge,” government visibility, and why I still prefer AND assets like dividend-paying whole life over OR assets like BTC. 👉 Follow Mary Jo Here: 👉 Get the book: Prompted by a listener (thanks, Todd!), I listened to a Bitcoin proponent debate and wrote down the sticking points I can’t get past. If Bitcoin is limited, why do...
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The Truth About Infinite Banking: What Haters Get Wrong (Ep. 325)
Farming Without the Bank Podcast
Why do so many people say, "Whole life insurance never works"? Let's unpack that. In this episode, Mary Jo takes on online critics who claim infinite banking doesn't work and reveals why most people making these comments haven't even done their homework. 👉 Follow Mary Jo Here: 👉 Get the book: Mary Jo shares personal stories, lessons from Nelson Nash, and her own journey from being labeled "learning disabled" to becoming a teacher who helps thousands understand money in a different way. If you've ever wondered whether the Infinite Banking Concept (IBC) really helps people...
info_outlineMany farmers take pride in being debt-free, but is that pride holding them back?
In this episode, Mary Jo Irmen joins Damien Mason on the Business of Agriculture podcast to challenge the status quo of farm finance.
They tackle the misconceptions around debt, why Infinite Banking isn’t just about operating expenses, and how to use whole life insurance as a financial tool to build liquidity, flexibility, and generational wealth.
Mary Jo shares real examples, powerful insights, and blunt truths about what’s broken in today’s ag financial mindset—and how to fix it using the Infinite Banking Concept (IBC).
Whether you’re just getting started or you’ve been farming for decades, this conversation will shift how you think about money, succession planning, and the real cost of being “debt-free.”
🔑 KEY TAKEAWAYS
Cash isn’t king—cash flow is
Debt isn’t the enemy when it creates opportunity
Farms fail financially because of poor planning, not poor production
Whole life insurance is the key to uninterrupted compound interest
Generational wealth starts with being intentional, not just working hard
⏱️ EPISODE TIMECODES
(00:00) – Why being “debt-free” might be hurting farmers
(00:28) – Intro to Mary Jo Irmen and how she discovered IBC
(02:04) – What the Infinite Banking Concept actually is
(04:09) – How IBC helps farmers become their own banker
(06:04) – Why Mary Jo won’t meet with you unless you read the book
(08:47) – Real talk: a million-dollar loan and what happens next
(10:46) – When to borrow from a policy vs. from a bank
(12:00) – How whole life policies preserve liquidity and control
(13:48) – Why most policies are sold wrong (and what to avoid)
(15:00) – The truth about “cheap” policies and long-term success
(16:22) – Using IBC for more than just operating expenses
(19:07) – Misguided fear of debt and the myth of the humble, broke farmer
(23:08) – The biggest financial mistake farmers make today
(25:27) – Why life insurance is critical for estate transfer
(29:01) – How to use life insurance in a contract for deed
(30:35) – Discounted dollars explained: 18¢ for every $1 passed down
(33:02) – Where to connect with Mary Jo and learn more
📚 RESOURCES & LINKS
📘 Grab your copy of Farming Without the Bank:
👉 https://www.farmingwithoutthebank.com/book
📅 Ready to talk? Book a meeting after reading the book:
👉 https://www.farmingwithoutthebank.com/contact
🎧 Listen to more episodes of the Farming Without the Bank podcast:
👉 Available on all major platforms
📨 Questions? Email Mary Jo:
📬 maryjo@withoutthebank.com
👍 Follow Mary Jo on Facebook:
🔗 https://www.facebook.com/FarmingWithoutTheBank
🎥 YouTube Channel (Mary Jo Irmen):
🔗 https://www.youtube.com/@MaryJoIrmen
🔥 KEEP LEARNING
Explore past episodes and see how real farmers are using IBC to grow their operations, protect their legacy, and make smarter money decisions.