Farming Without the Bank Podcast

Mary Jo Irmen
  • 4.8 (253)
  • Investing
  • Updated Weekly

Welcome to the Farming Without the Bank podcast, the show with a no-B.S. approach to money, hosted by a farm strategy expert and authorized IBC practitioner. Join us as we get real and expose the flaws of traditional financial institutions in order to help farmers take control of their finances, create peace of mind, grow their wealth, and leave a legacy. https://www.farmingwithoutthebank.com/

  1. 4d ago

    Farmland Was Paid Off Until This 'Strategy' Created $38 Million in Debt (Ep. 363)

    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 farm from estate taxes. Instead, it put the entire farm at risk. In this episode: The full story behind the Iowa widow's lawsuit (agent Davis, Emeritus, and PacLife) How premium financing works — and why it's especially dangerous for farm families How unethical agents exploit estate tax fears to target debt-free farmers The difference between "churning" and "twisting" — and why neither costs agents their license Why the original $5 million policy would have been enough all along Red flags to watch for if someone is pitching this strategy to you or your family The original $5 million policy would have covered everything. Instead, the debt hit $38 million. Don't let this happen to your farm. If you've been presented with a premium-financed IUL strategy — or know someone who has — reach out before signing anything. Mary Jo and John will review it at no charge. 📧 Mary Jo: maryjo@withoutthebank.com  📧 John: john@withoutthebank.com  #FarmingWithoutTheBank #IULInsurance #PremiumFinancing #FarmEstatePlanning #FarmlandProtection Chapters: 00:00 Premium Finance Warning 00:29 Why This Must Be Shared 03:23 The Iowa Lawsuit Begins 03:36 Agent Background Questions 05:40 Churning and Twisting Explained 08:33 How The Farm Got Pitched 12:10 Premium Financing Mechanics 14:14 Why The Numbers Collapse 19:50 Who To Trust For Advice 22:56 Share and Get Help

    Farmland Was Paid Off Until This 'Strategy' Created $38 Million in Debt (Ep. 363)

  2. Jul 10

    Fake Bids, Hidden Fees & Shady Auctioneers: Land Auctions Exposed (Ep. 362)

    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: https://www.youtube.com/channel/UCXYvzroUouEMsTGKFw5nJHQ  👉 Get the book: https://www.farmingwithoutthebank.com/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 "fake bid break" tactic — and exactly what to watch for in real time ✅ Why comparing commission rates alone will get you burned ✅ Sealed bid + live top-5 auction: why it consistently gets sellers the best price ✅ What buyers should NEVER tell an auction company ✅ Online auctions: the transparency problems and hidden buyer fees ✅ Owner financing through auction — how it works and why more people don't know about it ✅ Why naming your auction company in your estate plan prevents family war ✅ The ripple effect unethical auctioneers are having on farmland prices for everyone Chapters 00:00 Step Back First 00:35 Podcast Intro 01:54 Seller Due Diligence 04:24 Marketing That Works 05:22 Verify Mailers Sent 08:10 Commission And Hidden Fees 11:27 Pressure Tactics Warning 12:38 Auction Types Explained 12:55 Phony Bids And Breaks 16:48 Sealed Bid Strategy 20:11 Online Auctions Problems 25:00 Reserves And Starting Bids 29:43 Market Distortion Fallout 35:02 Don't Tip Your Hand 37:39 True Land Value Metrics 39:12 Survey Cost Surprise 40:56 Buyer Prep and Price Discipline 42:19 Auction Red Flags and Transparency 42:58 Funny Money and Asking Who 45:22 Tenant Offers vs Auction 49:00 Keep Your Cards Close 50:33 Owner Financing Options 52:36 Risks and Screening Buyers 56:31 Sibling Disputes and Estate Planning 01:03:02 Sell Sooner and Enjoy It 01:07:52 Wrap Up and Contact Info Connect with Amber Haugland: 🌐 https://hauglandsactionauction.com  🌐 https://hauglandinsuranceservices.com  📘 Get the Book: https://www.farmingwithoutthebank.com/book  📩 Questions? MaryJo@WithoutTheBank.com  #LandAuction #Farmland #FarmingWithoutTheBank #estateplanning

    Fake Bids, Hidden Fees & Shady Auctioneers: Land Auctions Exposed (Ep. 362)

  3. Jul 3

    We Paid Into This Policy for Decades and Got Nothing | Real Numbers Every Farmer Needs to See (Ep. 361)

    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 reach zero cash value before the insured's death — leaving families with NO death benefit Real example: $82,000 paid into a policy → zero payout at death How a VUL policy on a 38-year-old lapses completely by age 79 The difference between "current charges" and "max charges" — and why it matters for your life insurance policy lapse risk Why whole life insurance (with paid-up additions rider) is the superior alternative for farm estate planning and farm succession planning How whole life insurance cash value grows predictably compared to universal life Why IUL (indexed universal life) and variable universal life insurance carry hidden risks most agents don't explain What to ask your agent when you get your in-force illustration How whole life insurance for farmers fits into a financial planning and infinite banking strategy 📋 Get your in-force illustration and email it to Mary Jo before your appointment — MaryJo@withoutthebank.com📗 Get the books: 👉 Life Without the Bank + Nelson Nash's Infinite Banking book bundle: withoutthebank.com Chapters: 00:00 Policy Collapses Shock 00:46 Podcast Intro and Goal 01:35 How to Read In Force 03:27 Flexible Premium UL Example 07:02 VUL Charges and Lapse 13:18 VUL Falls Apart at 70 17:17 Adjustable UL Lapses at 87 19:11 90 Year Old Policy Runs Out 20:39 Why This Keeps Happening 24:36 Wrap Up and Next Steps

    We Paid Into This Policy for Decades and Got Nothing | Real Numbers Every Farmer Needs to See (Ep. 361)

  4. Jun 26

    We Tried Virtual Fence on Goats & Sheep (Real Farm Results) (Ep. 360)

    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: https://www.youtube.com/channel/UCXYvzroUouEMsTGKFw5nJHQ  👉 Get the book: hhttps://www.farmingwithoutthebank.com/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 worth worrying about. In this episode: 💲 Real cost breakdown: NoFence collars ($240–$270/collar + ~$3–4/month after year 1) 🐐 Why goats train fast — and why wool sheep take weeks longer 🆚 NoFence vs. Halter vs. Gallagher vs. Moneal vs. Vence — what's actually different 📡 Base station drama: why Halter just went base-station-free and what it means 🔒 The "tinfoil hat" question: data privacy, tracking, and who owns your herd data 🐑 OSU research on animal stress — is virtual fence cruel? (No. Here's the proof.) 📈 How virtual collars are making intensive rotational grazing feasible for small producers 💰 Grants & cost share: SHIP program, EQIP applications, and what's coming ⏳ Should you buy NOW or wait for better tech? Chapters 0:00 - "Buy Now or Wait?" (Cold Open) 0:50 - Intro: Meet Meg Greske 2:19 - NoFence Collar Costs & Pricing Breakdown 3:19 - Comparing the Companies: NoFence, Halter, Gallagher, Vence & Moneal 5:08 - Halter Just Went Base-Station-Free 6:40 - Base Stations: History & Why They're Becoming Obsolete 8:41 - Collar Lifespan & Battery Life 11:32 - Training Sheep & Goats: Wool vs. Hair Breed Differences 13:22 - Minimum Size Requirements & Flocking Behavior 14:05 - Running Sheep, Goats & Cattle Together 16:33 - App Ease of Use & Customer Support 18:24 - Grants & Cost-Share Programs (SHIP, EQIP) 20:43 - Data Privacy: Who Owns Your Herd Data? 22:12 - Terrain, Cell Service & Connectivity 24:42 - Intensifying Rotational Grazing With Virtual Fencing 27:18 - Goats for Hire: Brush Clearing as a Business 28:44 - Training Process Step-by-Step 29:44 - Animal Welfare & OSU Stress Research 30:46 - Health Monitoring & Future Tech Integration 32:07 - Buy Now or Wait? Meg's Final Answer 34:35 - Could Virtual Collars Work for Horses? 38:04 - Meg's Diversified Ranch Operation 39:35 - How to Reach Meg & Outro 🔔 Subscribe for weekly episodes: https://www.youtube.com/channel/UCXYvzroUouEMsTGKFw5nJHQ  📅 Client Summit — January 2027, Chandler, AZ. Watch your email for the save-the-date! 📖 Learn more: https://farmingwithoutthebank.com  💌 Email: maryjo@withoutthebank.com  📧 Meg's contact: mgcows@gmail.com

    We Tried Virtual Fence on Goats & Sheep (Real Farm Results) (Ep. 360)

  5. Jun 19

    Will No-Fence Collars Save You Money? (Ep. 359)

    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: https://www.youtube.com/@MaryJoIrmen?sub_confirmation=1  👉 Get the book: https://www.farmingwithoutthebank.com/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 entire herd through an irrigation canal solo, a job that used to take 6 people and 4 hours. Mary Jo also walks through how she finances technology purchases using the Infinite Banking Concept — keeping uninterrupted compound interest working inside a whole life policy while still putting new equipment to work on the ranch. In this episode: - How No Fence GPS collars work (without shocking your cattle) - Real ROI: labor savings, fuel costs, and heavier calves at weaning - Battery life, solar charging & reliability in rough terrain - The "reduced movement" health alert that saved a calf's life - Using Infinite Banking to finance ag tech without breaking your cash flow 💰 Get 10% off No Fence collars: https://www.nofence.com  ⭐Use code TysonGraze10 at checkout. (This code is case sensitive.) Follow Tyson on social Media: Facebook: https://www.facebook.com/tysonandstefanie.coles Instagram: https://www.instagram.com/colesfamilyfarm  Chapters 0:00 The $12,500 Return on Collars 0:48 Meet Tyson Coles: 4 Seasons with No Fence 2:17 No Fence Collar Pricing Breakdown 7:00 First Test: Grazing Cover Crops in October 9:39 How to Train Cattle with Virtual Fencing 11:46 Battery Life, Solar Charging & Replacements 15:19 Cost Breakdowns 20:08 Collar Durability & Lifespan 21:07 How Easy Is the App? (Even for Kids) 24:10 Managing Multiple Pastures & Locations 29:06 HerdNet Bluetooth: Sub-Minute Updates 30:32 Feeding Cows Remotely from 9 Hours Away 34:12 Health Alerts: Reduced Movement Detection 36:13 When to Collar Calves 38:00 Rotational Grazing Under Center Pivots 44:33 Collar Fitment & How to Find Lost Collars 47:21 Using Virtual Fencing for Sorting 48:30 Full ROI Breakdown 50:13 Grazing Standing Corn Instead of Ensiling 51:50 Weaning Weights Jump 100+ Pounds 56:40 Moving an Entire Herd Through a Canal — Solo 1:00:17 Any Downsides? Honest Assessment 1:02:33 Grants Available: EQIP & State Programs 1:04:58 Data Privacy: Is Your Herd Info Reported? 1:06:07 Discount Code & How to Reach Tyson 1:08:41 Financing Collars with Infinite Banking

    Will No-Fence Collars Save You Money? (Ep. 359)

  6. Jun 12

    I Was Wrong About Diversification | Mistake Many Farmers & Ranchers Make (Ep. 358)

    Is diversifying your farm or ranch actually costing you money? In this episode of Farming Without the Bank, Mary Jo digs into a question that came up four times in one week: should you take your farm profits and diversify into real estate, rentals, or another business — or double down on what you already know? Mary Jo shares her own hard-learned lessons from managing Airbnbs, long-term rentals, and side businesses — and why she's now pulling back to focus on what she actually loves: agriculture and infinite banking. Plus, a real client story of a veterinarian who grew from $1.5M to $10M gross in just three years by staying in their lane. 📌 In this episode: 0:00 — The farm & ranch dilemma 1:00 — "People are making money… but assumptions get you in trouble" 2:00 — Mary Jo's personal diversification experiments (Airbnbs, rentals, chocolate) 3:30 — Why switching lanes costs more than you think 5:00 — The Airbnb hot tub story (and why one is enough) 7:00 — Diversifying WITHIN agriculture vs. into unknown territory 9:40 — $1.5M to $10M in 3 years: the case against diversification 11:30 — "Why would you not pour into that business?" 12:50 — The mower analogy: finding clarity in focused work 15:00 — "Stay in my lane, don't cross over lanes" Website: https://www.farmingwithoutthebank.com  💌 Email: maryjo@withoutthebank.com  💌 Email: john@withoutthebank.com

    I Was Wrong About Diversification | Mistake Many Farmers & Ranchers Make (Ep. 358)

  7. Jun 5

    Doug Ferguson: Don't Ignore This Hidden Cattle Market Signal! (Ep. 357)

    Doug Ferguson reveals his Sell/Buy Marketing cattle system — profit in any market without the bank. 👉 Follow Mary Jo Here: https://www.youtube.com/@MaryJoIrmen?sub_confirmation=1 Doug Ferguson, owner of Mr CattleMaster, joins Mary Jo to break down his Sell/Buy Marketing system — the real-time cashflow method that tells you exactly what to pay for cattle before you ever raise your hand at auction.  If you've been told you can't make money raising cattle, this episode will change how you see every trade. 🔑 In This Episode: ➤ What Sell By Marketing actually means (hint: it's NOT "buy low, sell high") ➤ The barn card system — your maximum bid calculated BEFORE you walk in the ring ➤ Why being profit-driven beats performance-driven every time ➤ How Doug scaled up during market crashes while others sold out ➤ The body language signals that reveal what buyers are really thinking ➤ Why your mindset matters more than your market timing #FarmingWithoutTheBank #CattleMarketing #cattlemarket #farmfinance #americanfarmer #salebarn ⏱️ Chapters 00:00 Sale Barn Body Language 01:02 Podcast Intro Doug Arrives 02:58 Why Sell Buy Marketing 05:55 Learning the Math 08:57 Beyond Buy Low Sell High 13:19 Cattle Square Explained 15:59 Profit Over Performance 20:04 Tracking Overheads Costs 29:45 Control Cash Flow Stockers 33:04 Registered Cattle Exit 36:28 Money Must Flow 37:17 Mindset Before Numbers 38:26 Paradigms and Proctor 40:02 Staying Profitable Under Pressure 42:32 Barn Card Discipline 46:11 Toxic Talk and Proof 52:22 Focus in the Sale Barn 55:02 Who Actually Implements 59:14 True Costs and Rent 01:03:17 Cushions and Capital Intent 01:05:35 Crash Outs and Market Cycles 01:12:40 Black Swans Fear and Greed 01:13:49 Profiting From Crashes 01:14:35 Cash Flow Vs Balance Sheet 01:15:46 Sell Buy Trade Mechanics 01:16:22 Virgin Buys Explained 01:17:01 Buyback Timing Mindset 01:19:30 Pre Buy Strategy 01:22:07 Logistics And Shipping Math 01:24:08 Business Costs Big Picture 01:26:48 Reading And Being Teachable 01:31:35 Avoiding Bad Buys 01:39:34 Sale Barn Body Language 01:43:14 Online Buying Mishap 01:46:07 Schools And Final Advice 🐮 Mr CattleMaster 👉  https://www.mrcattlemaster.com  📖 Get the book 👉 https://www.farmingwithoutthebank.com/book

    Doug Ferguson: Don't Ignore This Hidden Cattle Market Signal! (Ep. 357)

  8. May 29

    Only 1% of Farmers Will Take This Action Financially (Ep. 356)

    Most farmers will never take this financial step — and it's costing them generational wealth. Here's what the 1% do differently. 👉 Follow Mary Jo Here: https://www.youtube.com/@MaryJoIrmen?sub_confirmation=1  Today, we break down the single most important financial action farmers can take to build lasting wealth using infinite banking strategies. We tackle the biggest objections head-on — "I don't have enough money," "I need to think about it," and "My advisor says no" — and show you why those barriers are easier to overcome than you think.Whether you're running a family farm, managing commodity operations, or just starting to think about your financial future differently, this conversation will change how you view what's possible. 🔑 What you'll learn: • Why the "I can't afford it" objection is a mindset trap • How to start with less than you think (the "take a zero off" strategy) • The role of skeptical spouses — and how to bring them on board • Why traditional financial advisors push back on this approach • The tree-planting metaphor that explains the long game of infinite banking 👇 Ready to see what this looks like for YOUR operation? Get the book here and get started: https://www.farmingwithoutthebank.com/book  Chapters 0:00 - The 1% of Farmers — What They Do Differently 1:43 - "I Don't Have Enough Money" — The Biggest Objection 7:05 - How Infinite Banking Actually Works (The Cash Value Strategy) 11:06 - "I'm Not Ready Yet" — Why Waiting Costs You 15:47 - Why So Few People Actually Take Action 19:40 - The Tree-Planting Metaphor — Playing the Long Game 22:15 - When Your Spouse or Family Is Skeptical Website: https://www.farmingwithoutthebank.com  💌 Email: maryjo@withoutthebank.com  💌 Email: john@withoutthebank.com

    Only 1% of Farmers Will Take This Action Financially (Ep. 356)
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About

Welcome to the Farming Without the Bank podcast, the show with a no-B.S. approach to money, hosted by a farm strategy expert and authorized IBC practitioner. Join us as we get real and expose the flaws of traditional financial institutions in order to help farmers take control of their finances, create peace of mind, grow their wealth, and leave a legacy. https://www.farmingwithoutthebank.com/

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