Introduction

In this chapter, the hosts discuss the costs of acquisition and the potential for a higher rate of return in their series on becoming your own banker. They explore how these costs extend beyond money and include factors like time, speed, and control, and also address the question of better investment opportunities than infinite banking.

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Episode notes

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.

Disclaimer: The opinions expressed on this podcast are solely those of the hosts and guests and do not constitute financial advice. Always consult a licensed professional for financial decisions.

This episode is sponsored by a podcast show partner. We may receive compensation if you use links or services mentioned in this episode.

The hosts may have a financial interest in the programs or services mentioned in this episode.

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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

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Becoming Your Own Banker by R. Nelson Nash: