Tiny Town, Huge Risk: What Buying a 60-Year-Old Business Really Takes (Ep. 333)
Farming Without the Bank Podcast
Release Date: 12/19/2025
Why You Need to Plan for Long-Term Care Before the Crisis Hits (Ep. 368)
Farming Without the Bank Podcast
The biggest threat to your farm's legacy isn't the bank — it's an unplanned long-term care event. In this episode, Mary Jo Irmen sits down with long-term care expert Michelle Prather, author of Who's Wiping Your Assets?, to unpack why modern long-term care insurance is nothing like the outdated "flip phone" policies you may be picturing. Michelle breaks down the reality most families ignore until it's too late: there's a 91% chance you or your spouse will need care — and care today can run $8,000 to $15,000 a month, fast liquidating the very assets you spent a lifetime building. For the...
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5 Things to Watch for When Buying a Policy (Ep. 367)
Farming Without the Bank Podcast
Buying a whole life insurance policy for infinite banking? Many agents have no idea what they're actually selling you — and it could cost you decades of compound growth. In this episode, Mary Jo breaks down the 5 things you MUST check before you sign anything, based on a real client who bought from a local agent instead of coming to her first (and what he got wrong): 1️⃣ Does it have cash value in Year 1? (If not, you bought traditional whole life — not a policy designed for infinite banking) 2️⃣ Is there a Paid-Up Additions (PUA) rider — and how flexible is it? 3️⃣ Is there...
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Your $6,000 Annual Premium Grows to $843,000? Here's How (Ep. 366)
Farming Without the Bank Podcast
Mary Jo Irmen walks through a real whole life insurance policy illustration for a 27-year-old client paying just $6,000 a year — and the numbers might surprise you. In this episode, Mary Jo breaks down what the cash value growth actually looks like year by year, what happens when you add extra premium in year one, and why so many people have been waiting too long to get started when they didn't need to. What you'll learn in this episode: - Why $500/month ($6,000/year) is enough to build serious cash value over time - How compound interest and dividends work once your policy "crosses over"...
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You Don’t Need $100,000 to Start Infinite Banking - Here's Why (Ep. 365)
Farming Without the Bank Podcast
Are you waiting until you have more money before starting infinite banking? Mary Jo Irmen explains why you may not need $100,000—or even a large amount of money—to begin. In this episode of Farming Without the Bank, Mary Jo discusses why people often delay after reading the book, how to identify a comfortable starter premium, and why starting with a smaller policy can be better than waiting indefinitely. She also explains how a system of multiple policies works, how to use future cash flow from paid-off loans or side work, and why planning ahead for family land and estate needs matters....
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Who's Really Calling About Infinite Banking? Real Meetings, Real People (Ep. 364)
Farming Without the Bank Podcast
What does infinite banking look like in the real world? From bankers and veterans to city kids buying their first ranch — here's a glimpse into the conversations happening behind closed doors. In Episode 364 of the Farming Without the Bank podcast, Mary Jo Irmen shares a candid recap of recent client meetings that span the full spectrum of agriculture and financial planning — and proves that it doesn't matter where you start, it matters how you think. In this episode, you'll hear about: Two bankers whose own clients brought them the infinite banking book — and what they learned A real...
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Farmland Was Paid Off Until This ‘Strategy’ Created $38 Million in Debt (Ep. 363)
Farming Without the Bank Podcast
An Iowa widow is suing her financial advisor and two life insurance companies after a premium-financed IUL strategy left her family farm buried in $38 million of debt. Mary Jo has been warning about this exact scheme for years — now there's a real lawsuit to prove it. In Episode 363 of Farming Without the Bank, Mary Jo Irmen breaks down the November 2024 lawsuit involving a debt-free Iowa farm family who was sold $23 million in IUL coverage — with $2.5 million in annual premiums financed through bank loans secured by their paid-off farmland. The strategy was sold as a way to protect the...
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Fake Bids, Hidden Fees & Shady Auctioneers: Land Auctions Exposed (Ep. 362)
Farming Without the Bank Podcast
One wrong auction company can cost you the true value of your land — and you'd never know it. 👉 Find more Farming Without the Bank here: 👉 Get the book: Amber Haugland of Haugland's Action Auction joins the show to pull back the curtain on a side of the land auction world most farmers never see coming. Whether you're selling the family farm, bidding on land next door, or starting to think about your estate, this episode could save you tens of thousands of dollars. IN THIS EPISODE: ✅ How to vet an auction company before you sign a single thing ✅ The...
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We Paid Into This Policy for Decades and Got Nothing | Real Numbers Every Farmer Needs to See (Ep. 361)
Farming Without the Bank Podcast
Are you wondering if your life insurance policy will actually be there when your family needs it? Mary Jo Irmen walks through multiple real-life life insurance policy review illustrations showing exactly how flexible premium universal life, variable universal life (VUL), and adjustable universal life policies perform over time — and why so many of them collapse before you're likely to die, leaving your family with no death benefit and no cash value. What you'll learn in this episode: What an in-force illustration is and how to request one from your carrier Why universal life policies often...
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We Tried Virtual Fence on Goats & Sheep (Real Farm Results) (Ep. 360)
Farming Without the Bank Podcast
What if you could finally have goats and sheep — without building miles of netting or chasing escapes? That's exactly what virtual collars made possible for Meg Greske, and she breaks down EVERYTHING in this episode. 👉 Follow Mary Jo Here: 👉 Get the book: Mary Jo sits down with client and regional conservation consultant Meg Greske (Oklahoma Conservation District) to dig into real-world results of using NoFence virtual collars on sheep and goats — from cost and training to wool vs. hair breed differences, company comparisons, and whether the data privacy concerns are...
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Will No-Fence Collars Save You Money? (Ep. 359)
Farming Without the Bank Podcast
What does it actually cost to run No Fence virtual fencing on a real cattle farming operation — and can you finance it without losing compound interest? Idaho rancher Tyson Coles has run the system for 4 full seasons and shares the real numbers. 👉 Follow Mary Jo Here: 👉 Get the book: In this episode, Mary Jo sits down with rancher Tyson Coles to break down exactly how No Fence GPS cattle collars work, what they cost, and how they've transformed his operation. Tyson shares the actual dollars saved on labor, fuel, and equipment — plus a jaw-dropping story of moving an...
info_outlineBe 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: https://www.youtube.com/channel/UCXYvzroUouEMsTGKFw5nJHQ
👉 Get the book: https://www.farmingwithoutthebank.com/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 nationwide, and using infinite banking (and her old 401(k)) to fund the dream—without letting the bank control everything.
If you’ve ever wondered how to buy an existing small business, fix its mess of inventory and accounts receivable, negotiate with suppliers, or use life insurance as your own line of credit for your farm or business, this conversation gets very real.
What You’ll Learn:
◦ How Erica went from corporate food manufacturing to owning a rural feed store
◦ Why she chose Dexter cattle, heritage hogs, hair sheep, and curly horses as niche income streams
◦ The truth about GMO vs non-GMO feed, sprays, and residues from someone who did lab testing
◦ How she mills fresh, locally sourced custom feed and ships it outside Iowa
◦ What no one tells you about buying a 60-year-old small-town business (inventory, expired product, A/R)
◦ Using Amazon and an online store to move poor inventory and reach beyond a town of 1,000
◦ How her kids learn business by bartering silky chickens and kittens instead of just taking cash
◦ Why did she pull money from her 401(k) to start infinite banking policies for the farm
◦ How separate policies, term coverage, and key-person insurance protect partners and banks
◦ The power of “How can I?” and “Who Not How” for growing when cash and time feel tight
Chapters:
0:00 – Negativity, mindset & intro to Erica
3:14 – Inside the ranch: Dexters, heritage hogs, curly horses & silky chickens
14:50 – Building a better feed store: sourcing, custom milling & GMO vs non-GMO
39:47 – Buying a 60-year-old small-town business: inventory, receivables & reality
55:35 – Employees, customer service, Amazon, and FedEx as a growth tool
1:07:55 – Using 401(k)s & life insurance to fund the farm and feed store
1:19:24 – “How can I?”, Who Not How & closing thoughts on mindset
📘 Ready to learn Infinite Banking for yourself?
Grab Mary Jo’s book and Nelson Nash’s book, then schedule a time to talk:
🌐 Website: https://www.farmingwithoutthebank.com
📧 Questions: maryjo@withoutthebank.com
🐄 Need custom feed or farm supplies from Erica?
🌐 Feed store & custom mixes: https://feedersgrain.com?utm_source=y...