Overturning the conventional wisdom about savings
“If I go bankrupt, the bank goes bankrupt. It's not my problem,” Kiyosaki made the bold claim in an Instagram video, highlighting his unconventional approach to debt.
The role of quality debt in wealth creation
In a recent episode of the “Disruptors” podcast, Kiyosaki further explored his debt philosophy, categorizing debt into good and bad debt. He credited his wealth to good debt, saying that the loans he took to generate income helped him achieve financial success. He also encouraged people to think of debt as leverage, especially when it comes to real estate investing.
“I'm $1 billion in debt because debt is money,” Kiyosaki unashamedly declared on the podcast, reiterating his unconventional views on the financial industry.
FAQ:
Q1: Why does Robert Kiyosaki consider luxury cars a liability?
A1: Kiyosaki has a unique financial perspective that goes against conventional thinking and considers assets and liabilities, viewing a luxury car that's paid for in full as a liability.
Q2: What does Robert Kiyosaki recommend instead of saving cash?
A2: Kiyosaki is skeptical of the stability of the US dollar, so rather than hoarding cash, he recommends saving up gold and converting the earnings into the precious metal.
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