In this interview, host Richard Canfield talks with Dan Allen, a seasoned financial advisor who applies the Infinite Banking concept to agriculture. Dan emphasizes that the core of Infinite Banking is financial control—becoming your own banker—to build capital buffers that protect farms from volatile commodity prices, drought, and unreliable government programs. He describes how farmers can redirect cash flow into a personal banking system, creating a reserve that grows over time and supports future generations. The conversation also touches on the mindset that hard work can be enjoyable and challenging, and includes a promotional plug for their book and the website keeptaxesaway.com, which promises strategies to lower tax burdens. Overall, the dialogue frames Infinite Banking as a tool for farmer independence, resilience, and long‑term wealth building.
Chapters
Hard work can be fun. When you get out there and you're enjoying doing what you're doing, it can be fun and at the same time challenging.
Joining us is Dan Allen, someone who has served more families than most advisors meet in a lifetime. And he didn't just learn the infinite banking concept, he lives it.
These are very strong, independent people that are building a business. The longer they do it, the bigger the buffer. They're going to have that one word that you see in, you know, become your own banker. It's about control. Every time I think about even this book, it goes back to what Nelson taught us, and it's really about control. Yeah, like, if, you know, when we think about farmers and, and because it's, you know, always been close to my heart, and even now as I have meetings with farmers, as they, as I go through the opportunities that come my way to just talk to people, I still just see how big of a difference financial control would make for people. And in farming, they have, you know, as Nelson said, you know, no one's ever taught them to grow capital. They have a real need for capital. And you just start to see as you talk to people, you know, given how, you know, things have gone in places in our country this year and across North America where, you know, it was dry and commodity prices are down, and there's a lot of outside forces that are at play here that out of the control of the farmer. And if they just could, you know, if they, if they could get to a point where more and more farmers are able to get control of their need for finance, how much easier would be on them and on their families. So that's kind of what I, I've, you know, thought about as, as I look at this and as I think about it, it's that one word that you see and, you know, become your own banker. It's about control. I find there's a, you know, probably like most businesses out there, there is differences from farm to farm. And, and so there's farmers that I get to talk to that have, you know, have established farms and they've been done very well. And then those are the ones where I see where the next generation now is more likely to be coming into that farm to carry it on. And so there's definitely differences from farm to farm. But those ones that are like that, it's much easier for a, you know, a son or a daughter to come into that business and feel like, okay, this is something I'm going to be able to do without, you know, Just the pressures that come from a startup for say, and going through the, you know, that process where you're really not at that good spot yet with your business. So that I see happening too, it's like, because I think you, you nailed it, Richard, is that they can come into that, they can see that it hope from, you know, this is going to be a great business to be part of and it's a great lifestyle. You know, that's what I still remember fondly from those days on the farm. I just love the adverse, you know, adversity of doing one thing one day and another day, another day, it's something else and it's just different things. I learned all kinds of skills and you know, I think the biggest takeaway, because we all have takeaways from the things we do in life was, you know, hard work can be fun when you, you know, when you get out there and you're join doing what you're doing and it can be fun and at the same time challenging.
Look, we all think that we should be paying only your fair share in taxes. Just so happens I think your fair share is lower than probably what you're paying now. Well, we talk a little bit about that in our book. Keep taxes away from your wealth. You can get a copy and access to the bonuses by going to keeptaxesaway.com that's keep taxesaway.com head on over there and pick up a copy today.
When you look at this, programs that are out there and one thing about agriculture, there's lots of programs that have been implemented to support, you know, farms and agricultural ventures across our country. But it's still, you know, it's still such a, there's such a gap there from. And I've had, you know, farmers say to me in the last few weeks where I don't like having to depend on those programs because I'm not sure if they're going to be there and when I'm going to get the support from them. And so they're fishing, you know, they're facing those, those real pressures of, you know, by the end of this month, this is what I have to have for sales to be able to support the debts I have. And I, you know, and because of what I went through back in my early days in farming, when somebody starts talking about that, it takes me back to those days where like I was trying to figure out how, how I was going to make that next payment. And it's happening today in agriculture and it's, you know, and it's Even with all the great programs that the governments have put together to help farmers, it's not what they want. Right? They don't want that crutch. They want to do it on their own. Typically, these are very strong, independent people that are building a business and they want to be successful without somebody helping them. And, and so, you know, just to build access through this system to capital that they could use to buffer those years. I always think about it as, you know, when we had a really good year for crops and we were, you know, mixed farming, so feeding cows and livestock plus cash crop, and we wouldn't just put up enough feed for that year, we would put up enough feed for that year and at least a half of another year in case. In case the next year wasn't good. Right, because you wanted that buffer. And that's what, you know, when you think about this whole process of becoming your own banker, that's what it can do for farms is it can, it can provide that buffer as they, you know, the longer they do it, the bigger the buffer they're going to have and the more support they're going to have for what they do. And you know, the longer I've, I've looked at this and worked with this concept, you think about how, you know, Nelson, on page 65, as he book, he just talked about, you know, the, the spending, the cost you have right now, that cash flow that's going through the farmer's hands, how you can use that just to build your banking system. And farmers have huge opportunities to do that because they have a lot of money that flows through their hands that they could, you know, just be redirected into their system first and then you using that access to capital. And every time they do that, they're going to be building a bigger, better future.
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