Farming Without the Bank: Your Solution to Farm Finance

Very useful and a much needed resource for farming suggest anyone in farming to buy this book

Bought book directly from publisher's/author's website in November 2022---it is offered significantly cheaper there. One can easily read this book in one sitting and its concepts are easy to understand. The author credits R. Nelson Nash and Wade Borth for philosophies and general content. The best idea gained is how to develop a thought of spending and storing money to generate family wealth. It encourages efficiency in using money to purchase farm equipment, livestock, and land through whole life insurance policies and using its cash value like a "family bank". Thus, one borrows from oneself instead of applying for a conventional bank loan and paying the bank interest. This method saves thousands as one pays themselves the interest in building wealth or having greater capacity to take out other loans when the family farm expands operations. Also, the book adequately explains tax advantages and interest compounding/crediting behind the cash value life insurance product. Illustration case studies are impressive when projected out over decades, and the book adequately explains different estate planning products (e.g. key person insurance) which can prove effective in passing assets efficiently to children and grandchildren. The main shortcoming is the book does not offer budgeting solutions for meeting short term financing needs or get into farming operation pitfalls. Many farming issues require prompt decisions and quicker financing than what one can pay in life insurance premiums and borrow against cash surrender value of policies in force...that capacity takes many years or a decade to develop even on a small scale. The book tends to dissuade use of universal life insurance, term insurance, 401K retirement plans, or other lending/bank products to finance farm operations or otherwise build wealth. One may need to consult a qualified insurance agent or financial professional to gain additional advice to make such a plan work. In my view, the book is not for everyone, but it does offer a good alternative if one has time, discipline, and keen financial knowledge to implement its ideas.

Great book, on how to use Infinite Banking to take back control of your finances. Not sure why this seller is listing so high on Amazon, only $19.99 on Mary Jo's website.

This book was amazing and worth every penny! The information is not typical to what we hear from most financial advisors and that is exactly why I loved it. This is a very simple method to growing massive wealth with a high level of certainty. It is not a get rich quick scheme, it takes actual work and discipline which is why I know it will work. I actually met the author in person 2 years ago and she is the real deal!

if your here and curious you should read this

This book was unavailable on Amazon, so I ordered it direct. Let me be clear that I am not an authority on this subject, just a farmer. The book teaches you to use a Whole Life Insurance product that in the examples the premium cost from $10,000 a year to $100,000 a year. I am wondering, why wouldn't you just save that money and in a few years you would be operating without the bank anyway? The math didn't add up. Why would I pay $100,000 to get $75,000 to borrow? You are still borrowing, just from the insurance co. not a bank. The two are fairly synonymous. Look at both industries profits. I am guessing this gal sells whole life insurance!One bonus of the book is that it shows the reader the power of compound interest. So Powerful! If you have Excel you can load a loan amortization schedule and see how cool it is. Read the Snowball about Warren Buffett.Make a cash flow, run different scenarios and put in some hours in your office. Take time to talk to your family about a cost of living reduction. Buckle down folks. Take a look at how great granddad did it. And don't say they had easy back then, that anyone could make money. We all just want to live better than that. To make a diamond takes time and pressure and that is what it takes to make a fantastic farm or bank account for that matter. If farmers were not taxed on their farmland when they passed it would help immensely. We pay for that dirt with after tax dollars. It would be like taxing a ROTH.Hope this helps people know what this is before purchasing, because I came here to see honest reviews, and now you have one.

This book is great! It is a quick read and doesn't bore you with all the hard details that you can't follow. It is about a new concept to breaking free from the bank and making money for yourself. I am a young rancher and it was extremely helpful for me. Mary Jo knows her stuff and wants all her clients to be successful! I would recommend reading it to anyone wanting to make money and save for the future!

Fantastic book that I couldn't set down. If you are tired of the financial barriers in your life (taxes, fluctuating markets, lack of control of your financial future, debt, etc.) and want a plan that will give you the CONTROL of more of your money now. Then this is the book for you. Don't let the name fool you, this can be applied to any business or personal finance plan. See how this simple change laid out in this book can provide for you now, in retirement, and generations to follow!