Robert Kiyosaki of Rich Dad, Poor Dad Reveals Billion-Dollar Debt with No Fear of Going Bankrupt – Fortune
“Why Going Debt-Free Is The Worst Advice You Could Get”: Robert Kiyosaki’s Take on Debts and Assets
For the average person, having a lot of debt can be a daunting reality, but that isn’t the case for renowned finance guru, Robert Kiyosaki, author of Rich Dad, Poor Dad. In his recent Instagram reels, Kiyosaki proudly stated that he himself holds a debt of over $1 billion. He also believes that everything changed when the Nixon shock occurred in 1971, where the US dollar was no longer convertible to gold and took on a complete devalued state, resulting in the rise of cryptocurrency. Rather than saving up cash, Robert Kiyosaki believes that he can use debt to purchase assets such as gold, as these commodities are more resilient to market crashes and inflation unlike the currency in the bank.
Kiyosaki States That Living Debt-Free Is Not The Best Option
The famous finance guru believes that following the trend of living debt-free is not the best advice you could be getting in these times, as the Biden administration has recently printed $10 trillion in currency. He also declared several warnings about the looming banking crisis, inflation, and stock market crash, which is why Robert Kiyosaki is opting to save gold and silver coins for his long-term gains, as well as investing in oil wells instead of merely stocks.
Although Debt May be a Useful Investment Tool, It Should Be Used Cautiously
Knowing that debt can be a useful tool to invest in assets such as gold, Kiyosaki still warned the public against using it to buy merely liabilities, such as luxurious cars, as these assets do not usually pay dividends. A great example of someone using this mentality is Love Is Blind’s Nancy Rodriguez, who paid off her bad debts and invested in properties to provide herself with long-term gain.
Living debt-free may be a long shot for the common man, but Robert Kiyosaki urges everyone to be smart about their debt and use it carefully and strategically, for their own greater gain.
1. “The Billionaire’s Take on Debts and Assets: Robert Kiyosaki’s Advice You Need to Hear”
2. “Take It from Robert Kiyosaki: Is Going Debt-Free Really The Best Idea?”
3. “Using Debt as an Investment Tool? Learn the Pros and Cons From the Guru, Robert Kiyosaki”