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115
people found this helpful, as of 2023
ranked #237,296 most helpful out of 571,544,897 reviews
★☆☆☆☆
Selling Whole Life Insurance-Wish I had known
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.
January 2016 · Books
the product in question
Farming Without the Bank: Your Solution to Farm Finance
4.3★ · 25 ratings, as of 2023
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