Today we're addressing common concerns about committing funds to life insurance policies and the importance of understanding the long-term benefits. Using life insurance as a financial tool is like building a business or farming; we need to be patient to see the long-term gains.

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The owner has ALL the control and owns that asset. No one can ever change that; not even if you die before the insured.

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Some miss the point of IBC being done through dividend paying whole life insurance policies, and they think a money market is the same. There are 5 big reasons why they are not even close to the same.

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Here are the four things I run into when I see farms in LLCs. There are good reasons to have an LLC, but unless you do your setup and maintenance right, you will actually be hurting further generations.

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We have far too many current farm owners who are in debt, and the next generation is trying desperately to save the farm by putting themselves at risk. This has to stop!

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Shane Anderson talked to us about how he made the decision to quit working off the farm and farm full-time. Tune in! We have solid advice about how to do it.

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So many people, ag industry included, want to be quick to make the judgment that, "people don't understand us." Let me encourage you to stay openminded, look at both sides of the story, and teach and communicate well with people instead of fighting and being short.

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With commodity prices the way they are now, so many folks are scrambling, yet we have had some decent years in the past. Are you preparing in the good times for the bad times. Are you really looking at your numbers to make sure you are making a profit?

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