Ep. 313 - Avoiding the Bank Doesn't Mean Debt-Free or Using Cash
Farming Without the Bank Podcast
Release Date: 08/01/2025
Windfall Alert: What Farmers Miss Every Single Year (Ep. 338)
Farming Without the Bank Podcast
Is life insurance a luxury—or a necessity? In this episode of Farming Without The Bank (FWTB Ep. 338), Mary Jo breaks down Chapter 7 of Nelson Nash’s Warehouse of Wealth and explains how Parkinson’s Law silently destroys financial progress, especially when people experience windfalls of money. From selling land, paying off equipment, kids leaving the house, or daycare expenses disappearing—windfalls happen whether you notice them or not. The real question is: Where does that money go? Nelson Nash’s real-life example shows how paying off a policy loan after a windfall can feel like...
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Corporations Don’t Pay Taxes — You Do. Here’s How. (Ep. 337)
Farming Without the Bank Podcast
You’ve been told corporations pay taxes, but what if that’s the biggest lie in the system? In this episode, Mary Jo breaks down who really pays for taxes, benefits, tariffs, and government programs—and why the consumer always ends up holding the bag. In Episode 337 of Farming Without the Bank, Mary Jo dives into Chapter 6 of Nelson Nash’s Warehouse of Wealth: “Lies, Lies, and Lies.” This episode exposes how taxes, Social Security, employee benefits, tariffs, credit card fees, and corporate expenses are never absorbed by businesses—they are passed directly to you, the consumer....
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Your Biggest Problem Isn’t What You Think It Is (Ep. 336)
Farming Without the Bank Podcast
Everyone says farming and ranching are hard—but what if the real problem isn’t expenses… it’s how money is being used? In this episode, Mary Jo tackles the backlash around “excess money,” breaks down why being debt-free isn’t the same as being financially secure, and explains why cash flow—not comfort—is the real solution. 👉 Follow Mary Jo Here: 👉 Get the book: In this candid rant-meets-masterclass, Mary Jo responds to critics who claim there’s no such thing as excess money in agriculture. She explains why higher cattle prices create opportunities, and how...
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Commodity Prices Trap Farmers In Debt (Ep. 335)
Farming Without the Bank Podcast
Most farmers still buy equipment the old way—cash or bank loans—losing years of compound growth. What if the problem isn’t your policy… It’s when the money runs through it? 👉 Follow Mary Jo Here: 👉 Get the book: In this episode, Mary Jo breaks down the “before asset” idea: running money through your whole life policy before you buy equipment, cattle, or cover operating expenses. She explains why premium is what makes you money, why loans themselves don’t, and how to think differently about “I can’t make the payment this year” when you are the banker. Whether...
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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...
info_outlineToo many farmers assume “Farming Without the Bank” means living cash-only and staying debt-free.
In this episode, Mary Jo Irmen sets the record straight. She breaks down why using cash only could be costing you thousands in lost opportunity, why paying interest isn’t the enemy, and how uninterrupted compound interest is the secret sauce behind the Infinite Banking Concept (IBC).
Whether you’ve read the book or you’re hearing this for the first time, this episode will completely shift how you think about using cash, debt, and life insurance in your farming operation.
🔑 KEY TAKEAWAYS
Why paying with cash isn’t always the smartest move
How borrowing against whole life policies preserves your wealth
The myth of “cash is king” vs. the truth about cash flow and liquidity
Why term insurance isn't cheaper over the long run
How uninterrupted compound interest actually works (and why it's a game-changer)
The arrival syndrome and why most people don’t “get” IBC without reading the book
⏱️ EPISODE TIMECODES
(00:00) – Why most people don’t understand IBC
(00:40) – Clarifying what “Farming Without the Bank” really means
(01:55) – Using cash vs. borrowing against a life insurance policy
(03:02) – Why insurance companies charge interest
(03:49) – Power of uninterrupted compound interest explained
(05:04) – The long-term view: thinking like a forester
(06:57) – Are you paying yourself back with interest?
(07:27) – The flawed “buy term, invest the difference” argument
(08:12) – Why mutual insurance companies are good at making money
(10:03) – The rising cost of term insurance over time
(12:01) – Why cash buyers are ideal IBC candidates
(13:04) – Uninterrupted vs. interrupted compound interest
(14:43) – How to talk about IBC with skeptical friends
(15:32) – Why Mary Jo requires reading the book before meetings
(19:14) – Where to get the book + connect with Mary Jo
📚 RESOURCES & LINKS
📘 Grab your copy of Farming Without the Bank:
👉 https://www.farmingwithoutthebank.com
📅 Read The Book?
Book a meeting with Mary Jo:
👉 https://www.farmingwithoutthebank.com/contact
🎧 Listen to the Without the Bank Podcast for more IBC episodes:
👉 Available on all podcast platforms
💬 Email your questions:
📨 maryjo@withoutthebank.com
👍 Follow on Facebook:
🔗 https://www.facebook.com/FarmingWithoutTheBank
🔥 WANT TO KEEP LEARNING?
Binge past episodes and learn how real farmers are using IBC to transform their operations. You’ll never look at money the same way again.