Robert Kiyosaki, who taught about financial discipline and saving through his world-famous book ‘Rich Dad, Poor Dad’, revealed that he had a huge debt. He himself has said this openly. Kiyosaki revealed that he currently has $1.2 billion in debt. “If I go broke, the bank goes broke. That’s not my problem,” Kiyosaki said in an Instagram reel on Nov. 30.
He also answers the question of how he got so much debt. His explanation is that all this money was used to buy valuable assets like gold and silver. Instead of saving money, Kiyosaki kept his earnings in gold and silver. This, he says, is the reason for such a huge debt.
“I have not bought copper. But I have a great wealth of silver. I had a silver mine in Argentina. Yamana Gold (Canadian Mining Company) bought it from me. “I have tons of gold and silver in my collection,” Kiyosaki said in an interview. “I’m a billion dollars in debt, and all that debt is in the form of cash,” he said in a podcast.
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Kiyosaki also says that there are two types of debt, good debt and bad debt. Kiyosaki stated that good debt is loans that are used to gain more income and wealth, and all the debt he took out was good debt and was used to invest. Kiyosaki also says that he does not agree with the way wealth is accumulated and stored in cash. Kiyosaki recalled that in 1971, the US President Richard Nixon blocked the conversion of the dollar into gold and foreign governments were unable to convert the dollar into gold.
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- First Published : January 7, 2024, 5:44 pm IST
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2024-01-07 12:14:24
