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Tuesday, February 27, 2024

‘Rich Dad, Poor Dad’ Author Robert Kiyosaki Reveals $1.2 Billion Debt

Bestselling personal finance author and entrepreneur Robert Kiyosaki disclosed that he is over $1 billion in debt but sees it as a strategic move. In an Instagram reel, Kiyosaki emphasized his debt philosophy, distinguishing between assets and liabilities. He clarified that while he is in substantial debt, it’s not a concern for him.

In the video, Kiyosaki explained his approach of using debt to acquire assets rather than liabilities. Notably, he considers his luxury vehicles, like a Ferrari and a Rolls Royce, as liabilities because they are fully paid off. Kiyosaki voiced skepticism about saving cash, advocating for investments in gold and silver instead.

“If I go bust, the bank goes bust. Not my problem,” he confidently stated regarding his significant debt.

During a podcast, Kiyosaki elaborated on his debt strategy, differentiating between good debt and bad debt. He highlighted that good debt has helped him generate wealth, especially through loans used to acquire income. He encouraged leveraging debt in investments, particularly in real estate.

Robert Kiyosaki, renowned for his bestselling book “Rich Dad, Poor Dad,” which has sold over 40 million copies since its release in 1997, remains a prominent figure in personal finance and wealth-building discussions.

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