BYOB Book Review Part 14 | Cost of Acquisition and Can I Get a Higher Rate of Return?

Have you ever considered the actual cost of your purchases? When you spend $100, $500, or any amount, are you really only spending that amount? No. You must also consider time, speed, and control, especially when buying a high-value item and borrowing money to fund it. To fully understand the importance of knowing the real cost of acquisition and getting a higher rate of return for your money, tune in to today's conversation.

In response to the requests to bring back the BYOB series, Russ and Joey continue their book review of Becoming Your Own Banker by Nelson Nash.

This episode is Part 14 of an 18-Part Series.

Top 3 Things You’ll Learn:
The true cost of buying something
How to reduce your cost of acquisition by becoming your own banker
How to get the most efficient storehouse for your money

About R. Nelson Nash:
R. Nelson Nash (1931 - 2019) wrote the book Becoming Your Own Banker that unfolded The Infinite Banking Concept (IBC). He came up with the idea of IBC in the early 1980s when he was struggling with high-interest rates on commercial bank loans. Today, many people continue to benefit from using IBC as a tool to achieve financial freedom.

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That Which is Seen, and That Which is Not Seen by Frédéric Bastiat:
https://www.amazon.com/That-Which-Seen-Not-Bastiat/dp/1947844334

Economics in One Lesson by Henry Hazlitt:
https://www.amazon.com/Economics-One-Lesson-Shortest-Understand/dp/0517548232

Free Financial Strategy Call:
https://go.oncehub.com/Intro15M?src=youtube

Becoming Your Own Banker by R. Nelson Nash:
https://www.wealthwithoutwallstreet.com/ibcbook

The Infinite Banking Concept Explained by a CFP:
https://www.youtube.com/watch?v=sVuexMv6Kf4

IBC Example: True Cost of Paying Cash vs. Using a Whole Life Policy:
https://www.youtube.com/watch?v=h4rugVZkajc

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https://go.wealthwithoutwallstreet.com/pios

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https://wealthwithoutwallstreet.com/quiz

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https://www.wealthwithoutwallstreet.com/passport

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https://www.wealthwithoutwallstreet.com/wwws-passive-income-mastermind

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7:26 - What was the cost to him of having to take that phone call and scrounge two or three days before closing, so he has to stop what he's doing and find a way to get me these ridiculous documents so he can buy the house?
9:33 - When we're talking about speed, what do you think we're talking about there?
10:01 - Do you remember Nelson's story about that guy that needed money that day?
11:19 - How many of you are real estate investors right now listening, and you know exactly what it feels like to have that deal go right out from under your nose because you didn't have access to cash today, and that's what would have made all the difference?
13:28 - I'm looking at buying something (a car, a boat, a house, or a piece of land). Should I take a loan against the insurance policy or get a bank loan for it?
16:19 - Why would we do that?
17:48 - What rate of return will I get for parking my money here?
18:45 - If you can give them a 1% interest rate on their mortgage with a 5-year term or a 5% interest rate with a 30-year term, what do you think most people would choose? Why?
19:36 - What else are people thinking?
20:29 - So if you have a storage facility, is that where wealth is built, or is that where you'd come back and put stuff?
24:25 - What did your insurance policy do over that same timeframe?

🎧 Listen Now to the full episode of the podcast here 👉
https://www.wealthwithoutwallstreet.com/podcast/byob-book-review-part-14-cost-of-acquisition-and-can-i-get-a-higher-rate-of-return

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