Don Quante long term care planning for farmers

Elder Care Planning Q & A With Long Term Care Expert [VIDEO]

Don Quante, author of “Don’t Go Broke in the Nursing Home” and veteran financial planner joins Mary Jo Irmen to share information about long term care planning and elder care. Below are timestamps to help you quickly find the answers you are looking for. 2:44 – Average Cost of Nursing Home Care as of 20183:30 – How Can I stay out of the Nursing Home?6:00 – No Plan in place for aging parents? Where to start.7:19 – Mary Jo’s biggest Ah-ha moment from Don’t Go Broke in the Nursing Home book.7:30 – Is LTC policy a farm expense?9:05 – What options do Veterans have? 12:00 – What if you don’t use the LTC benefit from a policy? What happens?12:38 – What are the best companies fro Long Term Care policies? 15:00 – Young Farmer Options and why Long Term Care is important for young farmers.16:55 – What the Pension Protection Act allows farm families to do.18:40 – Options and Differences between “Old Fashioned” and “New” Long Term Care policies.20:40 – What age is best to start a Long Term Care Policy?

How to Choose Long Term Care and Plan for Elder Care  Seminar with Don Quante

Don’t go broke in the Nursing Home and find out what options – mostly unknown options – are available for you and your farm family operation.

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Small, Urban and Organic Farmers Benefit from Farming Without The Bank Strategy

In 2015, urban farmers produced 20% of the world’s produce and another article claimed that nearly 50% of the inner city produce served was being provided by urban farmers. Urban and organic farmers are finding that the bank’s lending institution collateral criteria make it impossible to get a bank loan for the project.

My mentor Nelson Nash always says, “banking” is an exercise in imagination, reason, and logic and he is so right. Many people will read Farming Without The Bank or pass it by because they think it’s just for large-operation traditional farmers. This is not the case, the process I write about in Farming Without the Bank is for anyone who uses money. Now I’m guessing that is you.

If you have done any of the following things – this book is for you:

You purchased fuel

✔ You bought something as small as a pop

✔ You purchased something as large as a tractor

It’s for ALL who use money. It’s simple, but it is not easy.

Imagination is the hardest part of this whole concept.

I have a client who is a small farmer and he is using this Farming without the Bank system for his small vegetable operation. This is not just for large traditional farm/ranch operations. ALL farmers (large or small) need money!

That part of farming does not discriminate.

This means the Farming Without The Bank strategy works for organic farmers, urban farmers, goat farmers, start-up farmers, taking-over-the-farm farmers, and everything in between.

Urban and organic farmers are out there creating an exciting shift in agriculture!

If you’re like most farmers, you know the struggle to get funding from the banks. Most of you are working full-time jobs and farming on the side. Heck, I have some small farmers who are using credit cards as operating lines of credits (the highest loan interest percentage) or cashing out 401k’s to start the farm.

Sound familiar? As an entrepreneur, it doesn’t matter the industry, you are being creative to get started because you have to be. I want to let you in on a little secret you should thank the bank for saying “No.” Because they said no, they are forcing you to be creative which allows you to avoid the rut of traditional financing. That rut can get deep and takes your livelihood.

The struggle is real, no matter the size. We all are working the same industry that is based off commodity prices. Just one more reason it is important – critical to the future of your business – to be smart about how the money is handled and how cash flow is managed regardless of your size.

So please, if you are an urban, organic, or new farmer keep an open mind and seek information on the Farming Without The Bank strategy. If you do, you’ll have the opportunity at a better start than those who inherited the broken thought process of debt.

Purchase the book Farming Without the Bank now and find out how this can help you.

If you do have an off the farm job and are contributing to the 401k or IRA’s you may want to consider Wealth Without the Bank or Wall Street too. Both books are easy to read and teach you the basics of the concept, but Wealth Without The Bank or Wall Street will give examples of investments rather than farming.

Happy reading and I look forward to hearing your stories.
Mary Jo

Farming Without The Bank Proof

Seeing is Believing – Caution: Undeniable Proof That You Can Farm Without The Bank is in Here

“It’s a Scam!”

“Does it really work?”“She’s hiding something, there has to be a catch.”

“If it was so good everyone would be doing it.”

“Everyone knows whole life is bad.”This list could go on…If you didn’t say it yourself, you may have heard someone else say it when you told them about Farming Without The Bank. It’s human nature to believe things are too good to be true.

Farming Without The Bank is a system based off the Infinite Banking concept that I believe in passionately! But it IS a mindset shift. That makes it difficult to believe in for people who don’t like change. People who say things like, “Well, that’s the way we’ve done it for 100 years…”

I don’t want you to be stuck in a 100-year-old system.

I want to help you take control of your farm’s financial operations using the most up-to-date strategies available and have liquidity, control, and guarantees with your money.

When you talk to folks about these new strategies and get negative feedback, consider the source. Is the person knocking whole life insurance a licensed insurance agent?

Is he knowledgeable about the insurance industry?

In most cases they are not, they are basing their judgments on hear say not facts..Do you need facts? I had a client ask 14 people about it and they all told him he was being lied to. It doesn’t work.

Then he asked his banker. His banker told him he’d be silly NOT to buy it. The banker could see the value with open eyes rather than preconceived notions others put in her head.

Let’s take a look at 3 Examples.

In the first one you’ll see the illustration given to the client when they policy was purchased. Each example includes an inforce illustration, which is an updated illustration showing actual numbers today based on what the client paid since the inception of the policy.

The illustration is an important tool for projecting what will happen to the policy. We can compare the projection to what is actually happening today, by looking at an inforce illustration. Is the growth what they expected?

Inforce illustrations are a great way to show you that dividend paying whole life does what the company and I say it will do.

A couple of things to note when learning from these examples:

1. All premiums were paid as projected.

2. LOANS were TAKEN!

3. Some loans have been paid back and some have not.

4. All policies are going into their 7th year.

If you’ve read my books or heard me speak, you’ve heard me say, “Loans do not affect your cash value growth because you borrow AGAINST it,” Now you can see it.


In the first example, a premium of $6,400/year has being paid. The guaranteed seven-year cash value projection is $9,031+$29,727=$38,758.

The Non-Guaranteed seven-year cash value projection is $43,111

Right below that is the inforce illustration from the day I wrote this blog post. Line one represents year seven – – today.

The Guaranteed side shows a cash value of: $11,602 +$29,727= $41,329

The Non-Guaranteed side shows a cash value of: $42,219

Wow! The company is off a mere $1,100 on the non guaranteed side but up by $2,571 on the guaranteed side.


Why is the guaranteed side so much higher?

Because the guaranteed side is showing the projected value if dividends are not paid. However, that has not happened in 140 years. Dividends have been paid for over 140 years. Once dividends are paid to the non-guaranteed side, that dividend is “assumed” and moved over to the guaranteed, increasing the value.



The Guaranteed seven-year cash value projection is: $50,708 + $4,150 = $54,858.

The Non-Guaranteed seven-year cash value projection is: $62,576.

You may have noticed the low cash value in the early years of this policy. That is not typical, but due to health ratings for this client we had to put most of the money toward the death benefit. However, you can see the cash value still grows at a good rate and is very close to what was projected.

Shown below is the inforce illustration. Line one represents year seven – today.

The Guaranteed side shows a cash value of: $55,617 + $4,150 = $59,767.

The Non-Guaranteed side shows a cash value of: $61,052.



The Guaranteed seven-year cash value projection is: $16,468 + $45,213= $61,681.

The Non-Guaranteed seven-year cash value projection is: $67,169.

The inforce illustration was saved on the day I wrote this blog post. Line one represents year seven – today.

The Guaranteed side shows a cash value of: $19,660 +$45,213= $64,873.

Non-Guaranteed side shows a cash value of: $66,395.


After seeing these three examples you may be asking, why is the guaranteed side so much higher than projected? As stated above, the guaranteed side is showing the worst case scenario–a dividend never being paid. However, dividends ARE paid, increase the value, and once paid they are assumed and will not be taken away!

What is the big takeaway here?


If you put money into a tool that projects future cash value nearly exactly while leaving money LIQUID  without giving up CONTROL and with GUARANTEED cash values higher than they expected, this strategy cannot be denied!

In each real-life example the policy owners took loans from the policy to do other things: buy a vacation home, take a long vacation, and buy equipment for their business.

It doesn’t matter what it’s used for! After all, the policy owner is in control!

Looking back at older policies confirms that even the market crash of 2009 did not harm the policy performance.

Traditional money management cannot do what we do here: offer liquidity, control, and guarantees along with discounted dollars to leave to your family upon your death. If you have land, there is no guarantee that land value will increase. You have to sell it to have the liquidity. (don’t forget to take off the fees for realtors and such).

If you have an investment such as an IRA there are NO guarantees or liquidity. Borrowing against an IRA affects the growth of your IRA. In addition, your IRA is not even worth what it shows on paper. You will pay taxes and/or penalties for withdrawal and lose the growth from the money that was removed.

Moral of the story: the next time someone suggests to you whole life insurance is a bad tool ask them to show you the proof of their money growth with liquidity, control, and guarantees.

Remember, if you’ve read my book – you are more of an expert on the matter than most “professionals” out there.  If you have read the book, t’s time for us to meet. Message us on Facebook for the link to schedule. If you have NOT read the book, I hope this article clarifies a few of the details. The book will explain more about the strategy and our FREE 1-hour consultation will define the details and how this strategy would work in your operation. So – What are you waiting for?

As always, I appreciate your comments or questions!

Mary Jo

Mary Jo is proud to be a Certified Infinite Banking Practitioner helping family farms keep more of the profits, create financial systems, and bring financial clarity to an uncertain industry though correctly structured whole life insurance policies.

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Wealth Without The Bank or Wall StreetGet Farming Without The Bank


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Estate Planning Q & A With Estate Attorney [VIDEO]

Greg Gentry of Randall, Gentry, and Pike joined Mary Jo Irmen to talk about Estate Planning and Entity Structure on the Farming Without The Bank Facebook page. Below are timestamps to help you quickly find the answers you are looking for. 3:22 – Irrevocable Trusts6:50 – Estate Tax Law & Transfer 10:00 – Land Interest & Future Estate Valuation Formula & What Discounting Means14:20 – Farm Operation Purchase land from a C-Corp & Corporation Entity Structure 15:50 – Tax Responsibilities of Gifting Equipment and Livestock19:50 – Dissolving/Liquidating a C-Corp – Things To Watch Out For20:45 – Entity Structure for Farm Family Operations24:50 – Transferring Assets to an LLC 26:20 – Asset Partitioning and Forced Sale Examples29:10 – Differences between a Contract for Deed and Buy-SellFor More Information about Greg’s Practice: 

Estate Planning Seminar with Greg Gentry, Attorney & Counsellor at Law

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Cash Flow & How to Beat the Market – Mark Davis from Crop-Side Marketing  –

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What Happens When Not All Of The Brothers & Sisters Want To Farm?

Are you facing this question?

“How do we take care of our children that don’t farm to be sure we are leaving something to everyone, not just the kid taking over?”

Don’t worry, it is a very typical question when an estate plan is being created. Most estate planners will fill this void with life insurance – but there is one big problem …

Recently I met with an estate attorney and he informed me that the life insurance was not working anymore. He stated that the life insurance policy for the “non-farm” kids were not keeping up with the value growth of the farm and it was going to have a big effect on his clients and their heirs. His concern was also that the parents are now much older and the cost of insurance is too expensive so they can’t afford another policy to make up the difference.

This is a great example of why it is so important to have the CORRECT type of life insurance. Many life insurance policies, even permanent policies, have a death benefit that stays level. Which means the death benefit never grows over the years and remains the same until the day you pass. This is a standard process because people don’t want to pay a dime more than need is for a death benefit. (We were conditioned long ago to think this way.) If you, the buyer, wants the cheapest insurance you can buy then there is no extra to increase death benefit.

MORE INFORMATION: Different Policy Types

This issue does not normally arise with a WHOLE life insurance policy. Whole life, unlike other permanent products, is structured to have the death benefit increase over time. That is one of the reasons why it is a ‘tish more “expensive” than other life products.

The estate planner indicated life insurance is one of their strategies to make sure the off-the-farm kids get something while the kid farming can take over the farm without having to buy it from the bank or from siblings. GREAT strategy for keeping the farm in the family but it’s unfortunate that their client and/or the estate planner didn’t have all of the information about life insurance.

This is a great lesson for those of you doing estate planning if you have or are thinking about life insurance to fill the gaps. Should you already have a policy look at it to be sure it is correct and the death benefit grows. If you don’t have a policy, then do your due diligence and make sure the agent you purchase from knows what they are doing and ask this question:

Will the death benefit on this policy increase in the future to compensate for the increase in the value of my farm?

An agent helping you with this strategy should know better, but always be sure to ask and never assume an estate planner/attorney knows anything about life insurance. They are not licensed and can be more dangerous than helpful. We cannot expect them to know, but at the end of the day, it’s truly not their job and they should recommend a professional.

The meeting I had with this attorney, who had 30+ years of experience, was very interesting, to say the least. I have 100% faith he knows the law but let me say, I am sure I taught him a few things that he wished he had known 30 years ago. He told me he’s worked with multiple agents along the way who hadn’t ever shared this information. This is a true indicator that there are very few life insurance agents who know how to USE life insurance. Most of the 386,000 agents aren’t any better than the banker or accountant. All too often, they are ONLY looking at a short-term need and filling it, they are not looking long-term at what you will need.

Take a look at what you have for life insurance and what you need for those of the farm kids. If you don’t know where to start, call our office and schedule a time to visit with me. If your policies look good, I’ll be honest. A good life insurance agent who knows what they are doing is worth gold….it may make the difference between saving the farm or not.

If you want to learn for yourself how to use life insurance and work directly with me, get a copy of Farming Without the Bank. My clients tend to end up knowing more than their existing agent.

Have a good example of how life insurance has saved the estate plan? Have questions about this article? Leave a comment!

Mary Jo

Mary Jo is proud to be a Certified Infinite Banking Practitioner helping family farms keep more of the profits, create financial systems, and bring financial clarity to an uncertain industry though correctly structured whole life insurance policies.



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Farming Without The Bank Farm Finance Questions

Whose responsibility is it to make farm financial decisions?

I’ll start off by saying this article is about an unpopular topic.

I knew it wouldn’t be extremely popular, so I have been a bit hesitant to publish it.

The topic below is a real problem that I see from farmer’s Facebook posts and more recently in conversations with Farming Without The Bank readers. Without further hesitation, here is the unfriendly, but real topic.

We as farmers, business owners, and hard working people, are blaming others for our mistakes.

I’ll call it conditioned blaming. It is a behavior that we have always done so we just keep doing it, it’s all we know.

Raise your hand if you’ve ever known anyone to have a long line of brand new stuff at the farm – with an equally long list of debt to go with it.

Did you shake your head? Did you wonder?

Did you ask, “Why would you buy a brand new __(insert piece of equipment here)__ when you just bought one two years ago?”

You can put your hand down, you know who you are.

Did that same person answer “Well, I didn’t really need it but the banker told me I should purchase it.”

Enter the age-old and somewhat classic blame game.

Who takes the credit for the purchase of a new tractor that the farm can’t afford? A. The Banker B. The Accountant C. The FarmerD. All of the Above

Depending on who you are you are going to answer that differently.

The banker is going to say the farmer.

The accountant is going to say the farmer and the farmer is going to say the banker and/or the accountant.

Me, well I am going to say D, all of the above.

The typical $7.00 corn scenario goes like this:

The farmer goes to see the accountant before the end of the year to determine what his taxes are going to look like. The accountant says, ”You may want to buy something to reduce your tax bill. If the bank makes you sell more grain to satisfy your loans you are going to need to do something.”

The farmer walks into the bank to do his year-end analysis and the situation is looking good.

The farmers says to the banker, ”If I sell all this grain I need to buy something to save on taxes.”

The banker says, ”If you need a tractor we’d be happy to lend you the money. With corn prices the way they are you won’t have any issue paying for it.”

The farmer then visits the implement dealer and comes down with an acute new metal syndrome. He has to have it and he’s already approved by the banker and the accountant. Purchase made.

So who’s fault is it? The banker and accountant suggested he purchase it and he thought he had a good reason. He needed to “save” on taxes.

Yet the accountant is only looking at the current year and how to save the farmer money. The banker is looking at money on hand and the projected year.

Neither of these two “advisors” is looking out more than a year when in reality they should be looking 5 years down the road. Unless of course, your accountant or banker is also a psychic.

No one knows what five years from today looks like, but they should rely on what history shows.

History shows commodity prices go up and down, and in extreme ways.  If you’re a 2nd generation farmer or you’ve been in the Ag industry for more than 10 years – It’s hard to forget the 80s. The struggle was real, as the kids say. Banks must have forgotten the over lending that was done during that time period, accountants should recall the struggle the farmers had to survive during this time, and the farmer should not have forgotten the pain of almost losing the farm due to being over borrowed.

With all the being said the farmer, at the end of the day, needs to take ownership of his numbers.

Farmers are not accountants and aren’t expected to be, but they do know their numbers and they do know their operation’s history of struggles in years past. Farmers know better than anyone how commodity prices fluctuate and how hard times can come to them overnight.

Sadly, many farmers listen to the bank or the accountant for financial advice, yet neither the accountant or the banker are signing the check for the purchase/loan of that tractor. Their neck is not on the line, the farmer’s is.

You may not like my point here but it’s time for farmers to realize the bank and accountants are not looking long term, in most cases. They are only looking at a twelve month period of time.

Is the farmer 100% to blame? No. I believe it is a combination of all three. Each one needs to take ownership for their part. I’d love to see farmers look out for themselves and get more involved in their bookkeeping so they know what the future looks like when prices drop.

What does the history of commodity prices tell us? Can the farmer make that payment or not?

If corn falls to $4, can the payment still be made? If not then don’t buy it and ask why are two “advisors” recommending it be purchased? Is the stress of not making a future payment worth the tax savings today or really the best purchasing decision long term? Young farmers, bankers and/or accountants have no excuse either. You don’t have to be a farmer or in the Ag industry to know what happened in the 80’s. It was not that long ago and the stories of lost family farms are still fresh to many.

Let’s stop pointing fingers. Let’s start thinking about how spending to save is not a good strategy.

We all need to take ownership and responsibility of what we are doing and if it’s not working look at a different way of doing things.

As always, it’s all about how you think. If you have questions about Farming Without The Bank or the Infinite Banking Concept and how farm families are using it to operate the farm and plan for the future, I am here to answer those for you by email or a phone call. If you haven’t gotten the book yet, (It’s regular $19.95 + tax and shipping)  scroll down for a quick purchase link! This tiny investment will help you understand the differences in how we use to finance the farm operation and how we need to finance the farm operation if we want to keep the farm in the family.

Have a great day,

Mary Jo

Mary Jo is proud to be a Certified Infinite Banking Practitioner helping family farms keep more of the profits, create financial systems, and bring financial clarity to an uncertain industry though correctly structured whole life insurance policies.

maximize money from inheritance or land sales

How To Maximize Money From A Large Inheritance or Land Sale

Have you figured out a way to make your money work harder without the risk of the market?

A correctly structured whole life policy is a great tool to maximize money that comes to you in a lump sum because of its ability to earn uninterrupted compounding interest without taking away the ability to use the money. This strategy is used to create wealth and I want to make sure you know about this option.  

Watch this short video and I'll share more about how you can maximize an inheritance:

This video is meant to get you thinking differently about how you use your money. Check out more posts about planning for retirement, earning interest on your tax payment, and how you can help the family operation to stay in the family without having to worry about what the market is doing.  



AgeYearPremiumCumulativePremiumIncrease in NetCash ValueNet Cash ValueDeath Benefit

After you've watched and re-watched the video, you'll likely have questions. I wrote two books to help you think differently about how you fund your operation, your retirement, and how to create generational wealth. Each are less than 150 pages and show real numbers for real life situations. 

Will your inheritance be working for you indefinitely or used only one time?

Read An Additional Article that talks about cash flow and your tax bill:  
Earn Interest On Your Tax Payment

Mary Jo is proud to be a Certified Infinite Banking Practitioner helping family farms keep more of the profits, create financial systems, and bring financial clarity to an uncertain industry though correctly structured whole life insurance policies.