Kiyosaki Advises Strategic Debt Leveraging for Appreciating Assets Amidst inflation Worries
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Robert Kiyosaki, author of Rich Dad Poor Dad, claims to have over $1 billion in debt that he uses to buy assets like gold. He says if he goes bankrupt, it's the bank's problem, not his.
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Kiyosaki believes living debt-free is terrible advice nowadays due to high inflation and money printing. He warns of upcoming banking crises and advises buying hard assets like oil wells and precious metals.
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While leveraging debt to acquire income-generating assets can be strategic, Kiyosaki cautions against debt for buying "liabilities" like cars that won't appreciate.
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Kiyosaki inspired Nancy Rodriguez from Love is Blind to pay off her "bad debt" and instead invest in real estate that can eventually pay for itself.
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Kiyosaki uses debt as money, not caring about having no savings, since he believes the dollar has been debt since 1971 when Nixon shock removed USD-gold convertibility.