Author of ‘Rich Dad and Poor Dad’, confesses to having millions in debt: “If I go bankrupt, the bank goes bankrupt” | MISCELLANEOUS

Famous American businessman and author Robert Kiyosaki, known for his personal financial advice and author of the best-selling book “Rich Dad, Poor Dad”, admitted that he faces significant debt of about $1.2 billion .

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The shocking confession was made by the author himself through his podcast and his Instagram account, and surprised his more than 3.6 million followers around the world. However, what attracted even more attention was his most recent investment.

Contrary to what might be considered a concern, Kiyosaki highlights his particular approach to debt and finance, making a key distinction between what he calls “positive debt” and “negative debt”.

The author explained that, from his perspective, debt can be an effective tool for generating wealth, as long as it is used to acquire assets such as gold, silver and cryptocurrencies. In his own words: “If I go bankrupt, the bank goes bankrupt. It’s not my problem.”

Debt with a purpose

The businessman emphasizes that he does not recommend going into debt to acquire material assets, but only for investments that generate dividends and contribute to long-term financial growth.

Furthermore, Kiyosaki expressed his critical view towards the practice of saving cash and explained his distrust of the dollar. “I use debt as money and I don’t have cash because in 1971 the dollar became debt,” referring to the policy implemented by Richard Nixon that ended the convertibility of the US dollar with gold.

2024-01-13 23:10:17
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