The Wealth Without Wall Street Podcast
BYOB Book Review Part 14 | Cost of Acquisition and Can I Get a Higher Rate of Return?
Aug 22, 2023
Discover the true cost of buying something and how to reduce your cost of acquisition by becoming your own banker. Learn about the importance of control in real estate investing and the significance of having access to money for making financial decisions. Explore the limitations of self-directed IRAs and the misconception of focusing solely on the rate of return.
29:19
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Quick takeaways
- The podcast emphasizes the importance of considering the time, speed, and control aspects when buying high-value items and borrowing money, as these factors contribute to the true cost of acquisition.
- The episode challenges the focus on higher rates of return and highlights the advantages of utilizing whole life insurance policies as collateral to enter other investments, leading to potentially higher net yields.
Deep dives
The Cost of Acquisition: Time, Speed, and Control
The podcast episode explores the concept of the cost of acquisition, focusing on the unseen costs of borrowing money. It emphasizes the importance of time, speed, and control when it comes to accessing funds for investments. The episode provides examples of how the speed of accessing money can make a significant difference in taking advantage of investment opportunities. It also highlights the control aspect, comparing the limitations imposed by traditional investment vehicles versus the flexibility offered by whole life insurance policies for accessing capital.
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