Robert Kiyosaki, a best-selling author and seasoned investor, has a distinct philosophy on debt and investment. In a Nov. 30 Instagram reel, Kiyosaki elaborated on his debt philosophy, highlighting a critical distinction between assets and liabilities. He said many people use debt to buy liabilities, while he uses debt to purchase assets. To illustrate his approach, Kiyosaki said his luxury vehicles, like a Ferrari and a Rolls Royce, are fully paid off, categorizing them as liabilities rather th
Despite the “get rich quicker” mentality,Kiyosaki’s books were revolutionary for me. They basically taught me that it’s impossible for the working class to get rich. You need to invest in either a business or real estate.
The missing part is that it’s practically impossible to invest in a business or real estate. You need vast amounts of capital or a loan with nearly zero interest. Oh and the ruling class has been sucking us dry for decades.
Still, his books are very valuable knowledge.
It depends on the type of investing you want to do. The working class can absolutely invest in ETFs at varying risk profiles and build a retirement. They can’t drop $100k on an online startup and hope it explodes. They can invest in starting their own business.
It’s really hard to go from thousandaire to billionaire, but you can absolutely hit millionaire.
Small investments that won’t grow very large, and all while struggling.
Most fail. It’s usually a poor investment.
You are so pointlessly negative. What they said is true. Those are the most common avenues for middle class to move classes.
I would call it realistic instead of negative.
Yeah, you can get rich through ETFs but it’s incredibly unlikely.
It’s incredibly likely that continously saving and investing for 30 years creates a decent retirement account.
Yes and highly recommended if you have the money to do so, but it’s not going to make you rich, and it’s certainly not going to pull you out of poverty.
That’s great but it’s also not really what most people would think of when someone is rich
No, it’s blaming poor people for being poor.
He blocked me on facebook because I called him out for being a grifting motivational speaker.
I feel like you’d get the same response from any sane person…
Right, but I wouldn’t call just any sane person a grifting motivational speaker. He in fact is one though.
Nice. Almost makes me want to make a FB account
My wife is from a developing country so we invest through her family. I doubt we will ever be rich from it but it does add up. Obviously not an option for everyone but if it is for you might want to look into it.