Oct 1, 2026 · 21 min · 7 segments
Wealth is generated is many unique ways. Often times we associate wealth with monetary status, but it has been insightfully said that true wealth is what you have left when all your money is gone…
[instrumental music] To start with, we want to highlight, uh, Dr. Acton's comment.
He wrote in off a recent newsletter about, uh, Jesse and Alyssa's home.
That's our brother and sister-in-law.
They have a young daughter, and right now they are living with us as they put the fi- finishing touches on their home, avoiding paint and lacquer smells, staircases without handrails, sharp tools, and dust from construction.
Today we're, uh, scheduled to go over there and install railings along those staircases that are currently open.
They're getting real close to moving back in, but in this recent newsletter we were talking about some of the details of their home purchase.
So Dr. Acton writes in from this recent newsletter and says, "Something to consider.
At the end of 30 years, you don't just pay back three times.
It's actually five times, because every 15 to 20 years you will spend the cost of the house in making repairs/improvements, et cetera." That is a great point.
And a lot of people might not factor that in up cost because they're just looking at the cost of the home, but if you want to maintain that home in reasonable shape so that it k- stays consistent in its actual physical value, uh, in, in terms of shelter and, you know, security, then you are going to have to add money into maintenance on that.
And that's not considering the cost that most people are going to want a new kitchen at some point along that way, probably want the bathrooms updated, maybe change the wall color, maybe change the carpet color, things like that.
Because as we know, the second law of ther- thermodynamics is the law of entropy, which says that everything devolves into the lowest state of order it can unless there's effort that is put into it, and in this case it's effort which is provided by money.
You have to pay somebody to do those repairs or you have to take time off making a living at what you do to make those repairs yourself.
Either time, there will be a financial cost to that, whether it's outgoing or just, uh, prevented from incoming.
So that is a, uh, very pertinent comment, and I think it was, uh, nice of him to bring that up because that's something that should be considered, I think, and planned for along the way.
If you think about just about any major purchase that you make, the cost is more than the price tag.
In the case of the house here, you have the principal, you have the cost of the interest, you have the cost of the maintenance, the repairs, the property taxes.
All of those things are going into creating the ultimate cost of this purchase that you're making.
And if you're gonna think long-term, and a house is a great example of a way where, where you are thinking long-term about this, the costs are gonna be a whole lot higher than the initial price tag that you see on, on the price of the home.
Yeah, absolutely they would be.
If you are not up to speed on this home purchase that, uh, my brother and sister-in-law made, there is a video on McPhee Insurance.
Uh, Steven will probably put you a little bit of a link or a, or a snippet in h- in this podcast so that you can see that video and go watch it.
It's really interesting.
Jesse talks about what their options were for financing this house and what they ended up going with for the best overall financial picture for them.
My wife and I recently got married and we purchased our first house.
[instrumental music] To start with, we want to highlight, uh, Dr. Acton's comment.
He wrote in off a recent newsletter about, uh, Jesse and Alyssa's home.
That's our brother and sister-in-law.
They have a young daughter, and right now they are living with us as they put the fi- finishing touches on their home, avoiding paint and lacquer smells, staircases without handrails, sharp tools, and dust from construction.
Today we're, uh, scheduled to go over there and install railings along those staircases that are currently open.
They're getting real close to moving back in, but in this recent newsletter we were talking about some of the details of their home purchase.
So Dr. Acton writes in from this recent newsletter and says, "Something to consider.
At the end of 30 years, you don't just pay back three times.
It's actually five times, because every 15 to 20 years you will spend the cost of the house in making repairs/improvements, et cetera." That is a great point.
And a lot of people might not factor that in up cost because they're just looking at the cost of the home, but if you want to maintain that home in reasonable shape so that it k- stays consistent in its actual physical value, uh, in, in terms of shelter and, you know, security, then you are going to have to add money into maintenance on that.
And that's not considering the cost that most people are going to want a new kitchen at some point along that way, probably want the bathrooms updated, maybe change the wall color, maybe change the carpet color, things like that.
Because as we know, the second law of ther- thermodynamics is the law of entropy, which says that everything devolves into the lowest state of order it can unless there's effort that is put into it, and in this case it's effort which is provided by money.
You have to pay somebody to do those repairs or you have to take time off making a living at what you do to make those repairs yourself.
Either time, there will be a financial cost to that, whether it's outgoing or just, uh, prevented from incoming.
So that is a, uh, very pertinent comment, and I think it was, uh, nice of him to bring that up because that's something that should be considered, I think, and planned for along the way.
If you think about just about any major purchase that you make, the cost is more than the price tag.
In the case of the house here, you have the principal, you have the cost of the interest, you have the cost of the maintenance, the repairs, the property taxes.
All of those things are going into creating the ultimate cost of this purchase that you're making.
And if you're gonna think long-term, and a house is a great example of a way where, where you are thinking long-term about this, the costs are gonna be a whole lot higher than the initial price tag that you see on, on the price of the home.
Yeah, absolutely they would be.
If you are not up to speed on this home purchase that, uh, my brother and sister-in-law made, there is a video on McPhee Insurance.
Uh, Steven will probably put you a little bit of a link or a, or a snippet in h- in this podcast so that you can see that video and go watch it.
It's really interesting.
Jesse talks about what their options were for financing this house and what they ended up going with for the best overall financial picture for them.
My wife and I recently got married and we purchased our first house.
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