The first step to attaining wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.. .
I am fortunate I made productive decisions that changed my finances (gathered over 1M in 2years) through my financiaI planner. Got my 2nd house in Feb, and hoping to retire soon.. .
It is because you click the comments. All RUclips or tiktok if you just click the comments even you not write a comment, that automatically you will get feed on that person. Don't click the comment and don't click the guy, who you don't want to see, you will thank me later.
The first step to building wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.
I am fortunate I made productive decisions that changed my finances (gathered over 1M in 2years) through my financiaI planner. Got my 2nd house in Feb, and hoping to retire soon.
No he just came already from a super rich capitalist family and capitalists hold together against the „scum“ (so we, the working class which is the reason these criminals are so powerful)
He got multiple income that he won't tells you, but he teaches you go to hell by borrowing from loan shard, and become slave once you signed the loan agreement with is definitely not good terms and conditions for yourself. He needs more and more greedy people to go onto property market in order to mark-up the property prices to save himself from loan payment default.
Despite the fact that I invest, I am saddened by my inability to evaluate each company's performance and determine whether or not this is the ideal time to purchase stocks. My monetary stockpile is being depleted by inflation. At this stage, I need accurate market trajectory data, but I'm not sure what to do.
Particularly in this weak market, there are several opportunities to generate excellent returns, but such intricate transactions can only be carried out by seasoned market professionals.
I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centered on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform. I have made over 6 figures working with an investment coach for more than two years.
@@StellaMaris-lv2uq I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.
*Mary Onita Wier* is my portfolio coach, and I initially discovered her through a feature on Bloomberg. Afterward, I conducted an internet search for her name, and I was fortunate to locate her website, through which I reached out to her. You have the option to independently verify this information if you wish.
stop trying to invest in individual stocks, it's a lottery. Index funds or ETFs are the way to go. But the stock market should really be your last investment. Most millionaires/billionaires only have their money tied up in stocks because they're paid in stock options to avoid paying taxes on their income or in Kiyosaki's words "they don't work for money" You're better off putting some money into real estate
People's emotions are such that only very few people will understand and act upon the truths that Robert tells. People don't want to believe it, so they don't. If what Robert says is true, it requires us to take action and that requires more effort than simply believing that he is not truthful and that everything is a scam.
Depends on the loan. Don’t sign a loan for a 10 year mortgage for an investment property if the loan allows the lender to randomly decide to call in the loan in year 2. Just make them honor the terms of the loan, including the length of the loan.
Only indirectly. Money is created by borrowing since the government allows banks to lend more than they have. This of course causes inflation, but it doesn't actually take dollars out of your pocket.
No, the reason is because this only works for the extremely wealthy. Most people borrow with stupid high interest rates and have no assets to borrow against. So instead they need to rely on a 9-5 job to pay off high interest and predatory debt just to live. Debt is bad for 99% of people
@@XxowendanxX lmfao, you’re incredibly dull. He’s talking about borrowing millions of dollars against his real estate and using it to fund all his expenses. For the plebs like you and I we can borrow money, but we still have to work 9-5s to pay for them, we don’t have millions in assets to borrow against. I never once said normal people can’t buy real estate. I’m looking to close on a rental property soon
and guess who pays that intrest ? the ppl renting his properties he doesnt pay it he can deperciate his assets reduce taxable income to negative amounts and then refinance every 5 years take money out tax free buy more assets split it between gold silver crypto and real estate. all tax free .
I see everyone on here batching and wasting There time. But real question? How to a borrow for banks if I don't have good credit or any money. Stupid question but seriously seriously.
You use the money to make more money than interest. A decent mortgage rate is a good example of this. Unless you're getting a bad rate, your money should be able to outpace the interest by just throwing it into investments. That's why it's usually a bad idea to pay in cash for expensive items
just about every bank and hedge fund you can think of. What happens when they have to close? Nothing. They get bailouts and start over. What he's saying is accurate
😂stupid ideology he became rich just because he become a debtor .. is not worth the living…is big difference people rich with a Money in the banks, not rich with owning and assets but link to become a debtor..
I agree but what I think he’s saying is use the debt to get you on the property ladder then make sure you keep paying it and then use that debt to get another one. But you really have to get your maths right because after paying the loan off after interest you have to make sure you can make some profit
@@lewhui4604 how are the non-existing? Are you saying the rich actually do pay the same amount as middle class in taxes then? Because all I hear is people saying the rich don't pay enough and that would make his scenario "existent".
@@ConeTheBoss559 1) his father was middle class and living paycheck to paycheck, 2) the rich dad, as the story tells it, was his friend's dad that mentored him. 3) so if you're successful person, you're not going to help your children if they need it (not Kiyosaki's case)? I don't think you even read the book based on your comment. People like you too busy criticizing the wealthy making no sense or lack any level of ambition that I can't comprehend. Go to a fast food restaurant nowadays. Why are there 70 year old men working there cleaning outside of the drive-thru window, etc.? Do you really think that's by choice? When someone is offering you sound financial advice that will allow you to live the kind of life you actually would choose, it's best just to listen and consider if it works for you rather than have a biased point of view against it automatically.
I had a neighbor who made a good salary but had a lot of expenses. He joined his mother in the landlord business but never borrows money. They have someone run the business and when enough cash accumulates they buy another single-family home without a mortgage and then the cash accumulates at a higher rate.
It is changing at least in some high schools. I have 2 kids in high school and they both have to take 2 financial classes before they can graduate high school. I have looked at the curriculum and I really like what they are testing in these two classes as they build on financial responsibly and how to manage money and debt.
2010, the Canadian Broadcasting Corporation did an exposé on scams that were being perpetuated by Kiyosaki's company in Canada in the guise of seminars. Upon tracking the success claims of "Rich Dad" seminar organizers, they discovered that these claims were not true. Investments in trailers and trailer parks, which were being propagated as "successful" by seminar teachers, were found to actually be barren pieces of land that no one was using. Kiyosaki's advice has been criticized for emphasizing anecdotes and containing nothing in the way of concrete advice on how readers should proceed or work.[24] In 2006 and 2007, Kiyosaki's Rich Dad seminars continued to promote real estate as a sound investment, just before their prices came crashing down.[25] In 2010, Allan Roth of CBS News documented what occurred when he attended one of Rich Dad's free seminars and dissected some of the tactics employed.[26] The Marketplace exposé on his seminars in Canada showed what occurred in $450 seminars through a hidden camera including Kiyosaki's response to them.[2]
Id rather pay interest to a bank than pay taxes to politicians who mismanaged the country so badly to where we lose a minimum of hundreds of billions to trillions of dollars every year AFTER stealing about a third of everyone’s income that are paid the same as finance managers at very profitable corporations who aren’t guaranteed a third of everyone’s income and actually have to convince people to voluntarily pay them. If our politicians got the same results at any private sector company, they would be unemployed for life.
In a way his philosophy makes sense, he borrowed money to purchase everything cash instead of financing them. He probably has only one payment every month.
We’ll I’ll say it…..IM DEBT FREEEEEEEEEEEE!!!!!! I don’t borrow money, we own EVERYTHING we have and I don’t have to worry about paying back monthly debt payments. Try it I guarantee you’ll love it!!!
Almost every person who is absurdly rich today has filed for bankruptcy in the past. It's like that system is there to help people who like to take risk or something. hmmm
Most of his money comes from real estate, so the tenants technically pay for everything. It doesn't come out of his pocket. Other assets like his gold or silver mines automatically have a percentage taken by government, in that sense he's not charged interest on that. They give him tax breaks and don't charge him because he's supplying them with precious metals.
@@PositiveVibesVids google their net worths and remind me after that who's richer. Or simply read the original comment you replied to. Ramsey is worth 3 times what Robert is and has no debt.
@@baum7222 you can't google someone's net worth that's not how it works. I'm a web developer. It's like I could just make a random article and publish it. You could be right but I'm pretty sure Robert is a lot richer. He talks to trump and can make political moves it's a different level. He just needs to come out with new content.
@@hak1985org no body questions the ethical part of it. You are making everyone poor in order to be Rich. what a shame. This is the Mentality of Robert Kiyosoki
Came across his book Rich Dad Poor Dad 12 years ago. At 43 and a construction worker for more than 25 years. I am very happy I came across his book. My home will be paid off next year Lord willing.
I already read RichDad PoorDad about 5 years ago and it was so life changing, and then I switched to steady cash flow coaching, cash flow secret made me financially free.
It's like using credit cards to your advantage. Borrow money to create assets and slowly pay the loan and still save some money to get more assets. Borrow again to get more assets. Rinse and repeat until you become rich.
What he forgot to tell is that debt taken by business and by individuals have different laws. If u take debt in ur business name, the worst is u default and u still get to go Scott free if it's limited liability company. If u take on name of personal debt, u default, u will still have to pay. No amount of financial education will help u, unless u own business. And think about it : if everyone is running business, who is the employee? Then these same laws will change. He, and all billionaire, including jaspreet, take debt on their share of the company they own. That's why businesses owners get tax breaks.
It literally cost $150-$200 to open an LLC in the US. There will always be a new younger generation along with the I Can't people who just want a paycheck and go home. I would prefer everyone to have their own business - then you'd discover you don't require a government to manage your money for you and you can represent yourself. There will also be more options at cheaper prices. People would flourish.
sounds like a really shitty way to spend your time. Don’t think your 60 year old relatives could give a fuck about what this guy has to say. It’s funny to me how all the people who cling to this guys words and defend him are… still poor. Lol
I swear you try to teach others how to do what he did and they jealously react instead of reassess and follow the once poor but now rich, who’s sharing his “secrets” man!! 🤯🤦🏻♀️I am so grateful for the very minimal rich people who are willing to share AND teach us how to be prosperous with the very things set up to keep us poor! 🤦🏻♀️🤯Thank you for sharing!😊
He has entire books, games, and seminars on how to do it. I've read his books - he uses real life examples. He pushes education because there's no just 1 way of doing things and variables apply to every situation. You must educate yourself on finance.
Also, I learned recently, when u borrow the money, tax free again, u are not responsible if anything outside happens to it, it’s insured, whereas if something happens to your own money your shit outta luck!!!
Last year, I wrote a check at the end of the year because I had to pay $14,000. The year before that, I wrote a check at the end of the year because I had to pay $14,000. One of those years, the $14K that I paid was called *_taxes._* The other year, the $14K that I paid was called *_interest on the debt that I borrowed._* Does it REALLY matter what you call that $14K that I had to pay? I still had to pay it either way. Don't tell Kiyosaki.
it does matter, actually! if you pay that 14000 as a credit payment, you're allowed to get refunds. first split the 14k into two groups, we call em interest (i) and principal (p). first year, say your 14k is really about 11k i and 3k p. on i you can just get a tax break, if it's a business expense.. so make sure it's a business expense. refunds you your tax rate, let's take 20%, worth of i. so a bit over 2k. as for p, this lowers the outstanding debt (yes, i doesnt do that). when paying p, you gain p as book value on whatever thing was being paid for with the loan, assuming its not a car or something similarly value-bleeding. so +3k in book value from p. which is important because there's ways to turn book value into cash. this is one of the tricks robert uses. note p gets larger every year, while i gets smaller by the same amount. tldr: robert only really paid 9k insteada 14
Well, I was wondering about this at age 64. A reverse mortgage held until death allows purchase of appreciating assets, even other real estate. But we were taught to fear debt. We feel shame being in debt. Yet the entire US government operates on debt. We still have time, but we can't relax in debt. Our minds can't handle it.
😂😂😂 im laughing at the man sitting across from Mr. Kiyosaki. This is hilarious! His expression has not changed. Like "Damn why im i not doing this?" 😐😑
It’s a balancing act you have to the right people like lawyers, advisors etc. Trump is doing the same thing and lots of other people. All they do is borrow money buy properties and repeat.
Wrong. If the majority of your debt is on income producing assets that produce more than they cost, you’ve leveraged debt to make a lot more money than you could have without it.
This "grandpa" just exposed how the elites stay in power while empowering peasants like you to beat the system. This 40-second speech has and will contribute far more to humanity than your whole life can ever do or accomplish.
Dave said it correctly: “most people can’t handle debt”….which is also why he calls it “Baby Steps”. Most people are fucken children when it comes to money and they use debt to buy dumb sh8t, not assets. I listen to both Robert and Dave and the more I listen to Robert Kiyosaki, I realize his message is more for self starters, entrepreneurs, investors who don’t wanna conform to the standard 9 to 5 life. The more I listen to Dave Ramsey, I realize his message is more towards people in the middle class who just work their 9 to 5 and want to retire at 65. For them, it’s a good message to simply get out of debt, save money in your 401k/Roth IRA. but for gogetters, hustlers, Kiyosaki might work better.
Borrow money to buy assets and then leverage those assets to borrow more money and then repeat! That’s how the rich stay rich 🤑
Yeah until rates rise
Just started using this formula, I hope this works out.
very few people can grasp This
And then you get charged like Trump
You can’t borrow money to buy assets such as real estate in the UK to start with unlike the US😒
Amazing. “THIS IS HOW I ACQUIRE WEALTH”
The first step to attaining wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.. .
I am fortunate I made productive decisions that changed my finances (gathered over 1M in 2years) through my financiaI planner. Got my 2nd house in Feb, and hoping to retire soon.. .
researvh this, if you care .
.
Financial-Planner Rebecca Mart-Watson (in fuII).
Financial-Planner Rebecca Mart-Watson (in fuII). .
THIS GUY AT THE RESTAURANT : SIR, WHAT WOULD YOU LIKE TO ORDER ?
HIM: DEBT 💀😂
Hi is too smart
I let this guy borrow 40 bucks once and hes always dogging me
he’s dogging you? 💀💀
Underrated comment
No shit he hasn’t paid you back! He obviously can’t pay you back! Haven’t you heard? *HES IN DEBT!*
Ay, he’s still dodging me for the bag I ticked him up
@@onlycapone3544 I can probably take out a 40 dollar loan at a bank and use his debt to me as collateral 🤔
Whenever I see this guy I hear “Dettt….detttt…deadddtttt”
Glad its not just me 🤣🤣
If Dave Ramsey were a man of hands he'd whoop this Ch!nks ass
It is because you click the comments. All RUclips or tiktok if you just click the comments even you not write a comment, that automatically you will get feed on that person. Don't click the comment and don't click the guy, who you don't want to see, you will thank me later.
Debt
ikr
Amazing. “THIS IS HOW I GOT RICH”
The first step to building wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.
I am fortunate I made productive decisions that changed my finances (gathered over 1M in 2years) through my financiaI planner. Got my 2nd house in Feb, and hoping to retire soon.
researvh this, if you care
FinanciaI-PIanner Rebecca Mart-Watson (in fuII
l’m amazed to partake on this, lt has rekindled the fire to my goals.
It's funny how this guy can borrow millions of dollars and I can't even get a bank loan
Easy, he had assets !
Really come over
No he just came already from a super rich capitalist family and capitalists hold together against the „scum“ (so we, the working class which is the reason these criminals are so powerful)
@@harrison00xXx not at all 😭🤣🤣
He got multiple income that he won't tells you, but he teaches you go to hell by borrowing from loan shard, and become slave once you signed the loan agreement with is definitely not good terms and conditions for yourself. He needs more and more greedy people to go onto property market in order to mark-up the property prices to save himself from loan payment default.
Despite the fact that I invest, I am saddened by my inability to evaluate each company's performance and determine whether or not this is the ideal time to purchase stocks. My monetary stockpile is being depleted by inflation. At this stage, I need accurate market trajectory data, but I'm not sure what to do.
Particularly in this weak market, there are several opportunities to generate excellent returns, but such intricate transactions can only be carried out by seasoned market professionals.
I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centered on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform. I have made over 6 figures working with an investment coach for more than two years.
@@StellaMaris-lv2uq I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.
*Mary Onita Wier* is my portfolio coach, and I initially discovered her through a feature on Bloomberg. Afterward, I conducted an internet search for her name, and I was fortunate to locate her website, through which I reached out to her. You have the option to independently verify this information if you wish.
stop trying to invest in individual stocks, it's a lottery. Index funds or ETFs are the way to go. But the stock market should really be your last investment. Most millionaires/billionaires only have their money tied up in stocks because they're paid in stock options to avoid paying taxes on their income or in Kiyosaki's words "they don't work for money" You're better off putting some money into real estate
And there is the main reason our system is broken: everything is geared to penalize production and fair behavior.
if everyone behaved according to this advice we'd condense the boom and bust cycle into a weekly thing.
Boom and bust cycles 😮😮😮 it has always been Booms and no busts at all in the 30 years! It has always been Inflation and no deflation at all!
And even more job shortages
Then that's a rise in GDP at a historic rate!
The thing is that lots of people look at videos like this but only a tiny percentage of the viewers act on it.
People's emotions are such that only very few people will understand and act upon the truths that Robert tells. People don't want to believe it, so they don't. If what Robert says is true, it requires us to take action and that requires more effort than simply believing that he is not truthful and that everything is a scam.
That's what caused that crash of 2008.
Everyone was borrowing money to the point the banks had no money to give
No the banks lended out to people who couldn’t afford it and they crashed their own system on purpose
We about seeing same thing happen again
@@nwaezeowunwa1610 nope
It's a little scary because the loans can get called in then you're broke
Depends on the loan. Don’t sign a loan for a 10 year mortgage for an investment property if the loan allows the lender to randomly decide to call in the loan in year 2. Just make them honor the terms of the loan, including the length of the loan.
I had enough of this guy- y’all don’t let him borrow money anymore- 😂
😂
😂
😅😅😅
😂😂😂😂😂😂😂😂😂😂😂😂😂
😆🤣🤣
The only reason they don't teach you that in school it's because you are the one saving that money for those rich bastards to borrow
The way I see it, get with it or get left behind
Only indirectly. Money is created by borrowing since the government allows banks to lend more than they have. This of course causes inflation, but it doesn't actually take dollars out of your pocket.
No, the reason is because this only works for the extremely wealthy. Most people borrow with stupid high interest rates and have no assets to borrow against. So instead they need to rely on a 9-5 job to pay off high interest and predatory debt just to live. Debt is bad for 99% of people
@@XxowendanxX lmfao, you’re incredibly dull. He’s talking about borrowing millions of dollars against his real estate and using it to fund all his expenses. For the plebs like you and I we can borrow money, but we still have to work 9-5s to pay for them, we don’t have millions in assets to borrow against. I never once said normal people can’t buy real estate. I’m looking to close on a rental property soon
In my country the rates are up to 45% 😂😂😂
this dude is the type of guy to lend some 40 bucks and then try to ignore you everywhere
😂😂😂😂😂😂😂😂
😅😂😂😂🎉
For the overwhelming majority of people, they’d be better off if they tried to live debt free
Debts are tax free, but INTEREST is waving 👋
Interest only happens when you're late on said debt, the whole point he's making here is understanding how to handle debt.
@@dustinshamp8517 exactly! 😊
@@dustinshamp8517 No. Wrong. U hv interest on every loan or borrowed money whether its 1% or 20%. ur thinking of a late fee
Interest is a deductible business expense. Or rather it can be outrun on the personal side things with a modest ROI.
and guess who pays that intrest ? the ppl renting his properties he doesnt pay it he can deperciate his assets reduce taxable income to negative amounts and then refinance every 5 years take money out tax free buy more assets split it between gold silver crypto and real estate. all tax free .
am told this man whispers “debt” to this girlfriend right before he bursts 💀
Wonder where you got that one from 🤦♂️
Like y do ppl gotta repeat comments from the other same exact video. Real original there
I wanted to plagirise this comment but u already did be4 me 👏
I got a bad visualization of that inside my head…
I see everyone on here batching and wasting There time. But real question? How to a borrow for banks if I don't have good credit or any money. Stupid question but seriously seriously.
I see alot of these videos and never heard a question being asked about interest
You use the money to make more money than interest. A decent mortgage rate is a good example of this. Unless you're getting a bad rate, your money should be able to outpace the interest by just throwing it into investments. That's why it's usually a bad idea to pay in cash for expensive items
Yes I agree
Bro imagine being leveraged or on margin during this crash 🤣 RIP
just about every bank and hedge fund
you can think of. What happens when they have to close? Nothing. They get bailouts and start over. What he's saying is accurate
@@Rich_iam for the banks but he is not a bank.
There's a reason he's on this interview and you're in the comments bro
@@eddd653 time? Luck? A complexity of diverse choices and situations? Those are all reasons.
Just short and long the same stock you'll never lose money!
It's true. I can't handle debt. That's why I'm not rich.
Lol
😂stupid ideology he became rich just because he become a debtor .. is not worth the living…is big difference people rich with a Money in the banks, not rich with owning and assets but link to become a debtor..
Yep
The handle your debt part is the key.
Exactly
If your wealth is reliant on loans that's not actually being rich because you're a debtor. The lender is the rich one.
I agree but what I think he’s saying is use the debt to get you on the property ladder then make sure you keep paying it and then use that debt to get another one. But you really have to get your maths right because after paying the loan off after interest you have to make sure you can make some profit
More like “The reason I am rich is selling books then reinvested the money in real estate.”
So you're saying he did a good job managing the money he came into. Got it.
@@iqfinanceguy9435 exactly. And then brags about non existing scenarios like this
@@lewhui4604 how are the non-existing? Are you saying the rich actually do pay the same amount as middle class in taxes then? Because all I hear is people saying the rich don't pay enough and that would make his scenario "existent".
@@iqfinanceguy9435 unlike him, regular people can't fall back on their gold holding dad if a project fails
@@ConeTheBoss559 1) his father was middle class and living paycheck to paycheck, 2) the rich dad, as the story tells it, was his friend's dad that mentored him. 3) so if you're successful person, you're not going to help your children if they need it (not Kiyosaki's case)?
I don't think you even read the book based on your comment. People like you too busy criticizing the wealthy making no sense or lack any level of ambition that I can't comprehend.
Go to a fast food restaurant nowadays. Why are there 70 year old men working there cleaning outside of the drive-thru window, etc.? Do you really think that's by choice? When someone is offering you sound financial advice that will allow you to live the kind of life you actually would choose, it's best just to listen and consider if it works for you rather than have a biased point of view against it automatically.
Can I borrow some of your borrowed money?
You do everyday ay your local bank
Seems sustainable….
No peasant
Where does he find interest free loans?
@@phuckyocouch9098 😫
"I'll gladly pay you Monday for a cheeseburger today"
They call this fake rich.... Just so everyone understands
I had a neighbor who made a good salary but had a lot of expenses. He joined his mother in the landlord business but never borrows money. They have someone run the business and when enough cash accumulates they buy another single-family home without a mortgage and then the cash accumulates at a higher rate.
It is changing at least in some high schools. I have 2 kids in high school and they both have to take 2 financial classes before they can graduate high school. I have looked at the curriculum and I really like what they are testing in these two classes as they build on financial responsibly and how to manage money and debt.
2010, the Canadian Broadcasting Corporation did an exposé on scams that were being perpetuated by Kiyosaki's company in Canada in the guise of seminars. Upon tracking the success claims of "Rich Dad" seminar organizers, they discovered that these claims were not true. Investments in trailers and trailer parks, which were being propagated as "successful" by seminar teachers, were found to actually be barren pieces of land that no one was using.
Kiyosaki's advice has been criticized for emphasizing anecdotes and containing nothing in the way of concrete advice on how readers should proceed or work.[24]
In 2006 and 2007, Kiyosaki's Rich Dad seminars continued to promote real estate as a sound investment, just before their prices came crashing down.[25]
In 2010, Allan Roth of CBS News documented what occurred when he attended one of Rich Dad's free seminars and dissected some of the tactics employed.[26] The Marketplace exposé on his seminars in Canada showed what occurred in $450 seminars through a hidden camera including Kiyosaki's response to them.[2]
It's tragic he's pushing debt again, right as the housing market is about to crash again
You dont pay taxes but you do PAY interest and take on more risk
Id rather pay interest to a bank than pay taxes to politicians who mismanaged the country so badly to where we lose a minimum of hundreds of billions to trillions of dollars every year AFTER stealing about a third of everyone’s income that are paid the same as finance managers at very profitable corporations who aren’t guaranteed a third of everyone’s income and actually have to convince people to voluntarily pay them. If our politicians got the same results at any private sector company, they would be unemployed for life.
God said avoid debt.
If you understand history...
(Never brings up history again)
I’d pay a premium of $20/month to never see this guy in my youtube shorts ever again.
😂
See, look how easy You give your money away because You can’t handle the truth
@@halogod0298worth it in the long run from not being influenced by idiots like these guys and losing everything
@@halogod0298 lmao you have no clue what robert is saying because he isnt saying sh#$
Would you borrow that $20 though or pay in cash? 🤣
In a way his philosophy makes sense, he borrowed money to purchase everything cash instead of financing them. He probably has only one payment every month.
This statement doesn't make sense
Made NO sense
True but it’s best to turn that debt into hard cash. Never over leverage
I see all the "professional real estate agents" have entered the chat.
We’ll I’ll say it…..IM DEBT FREEEEEEEEEEEE!!!!!! I don’t borrow money, we own EVERYTHING we have and I don’t have to worry about paying back monthly debt payments. Try it I guarantee you’ll love it!!!
But are you a billionaire? Or ar least s millionaire in the 8-9 digits?
Robert is a genius man because he will tell you what the banks and government don’t want you to know.Shout out to RK for keep’n it a 1000
Dude went bankrupt and his wife saved him by pushing him to write a book.
Now all he does is go around bragging 🤣🤣🤣
Where does it say he went bankrupt? All ive found is some of his businesses have
Almost every person who is absurdly rich today has filed for bankruptcy in the past. It's like that system is there to help people who like to take risk or something. hmmm
Business is a risky thing its normal to fail many times so you can succeed
😂 i could believe that actually
Trump also went bankrupt. Guess what he is still billionaire and didn't paid taxes. They are smart.
He speaks the truth. I got a credit card and in a year I had good enuf credit for a 90k loan ! Just 10% down .
What would you do with it?
@@davidt7431 rental , at the time homes where cheaper in my area
WOW!!!
How?!
How does that make him soak the truth?! I mean i know what he is talking about but your statement is meaningless 😂
The trick is to convince lenders that you’ll return the money
Until you run afoul of bad credit then it’s over
Not to forget, with profits
Imagine the day that they refuse to borrow him more money and ask for his debt. 💀
Did he borrowed from the government like I don’t know who give him that much money
Dave Ramsey has helped far more people than he ever will.
"Look at me! I'm a fucking parasite!"
Read the book "Killing the Host" by Michael Hudson
Hahahhaha
Don't hate the player, hate the game.
@@majorchungus both
Imagine paying taxes 🤡🤡🤡
So he has no issue with Interest. But he is totally against Taxes. I'm totally confused
Interest 6% tax 40% u tell me.
Interest is always cheaper than tax
Most of his money comes from real estate, so the tenants technically pay for everything. It doesn't come out of his pocket. Other assets like his gold or silver mines automatically have a percentage taken by government, in that sense he's not charged interest on that. They give him tax breaks and don't charge him because he's supplying them with precious metals.
@@memphis101a no wtf u talking about, debt can be written of as tax and can save u a lot of money. Learn some finance
@@Blackfire970 right
The normal person that would try to claim thier borrowed money as a tax write-off. Would be thrown in jail so fast.
When war breaks out ...ur in Debt
Robert kiyosakis net worth= 100 million (doubtful) with a billion in debt
Dave ramsey= 300 million with no debt
Wonder which guy i should listen to
Neither lol
@@PositiveVibesVids nah, I'll listen to the one with money
@@baum7222 well then you'd be listening to Robert he's a lot richer. I like Dave too just some of the stuff he says is like cult cringe
@@PositiveVibesVids google their net worths and remind me after that who's richer. Or simply read the original comment you replied to. Ramsey is worth 3 times what Robert is and has no debt.
@@baum7222 you can't google someone's net worth that's not how it works. I'm a web developer. It's like I could just make a random article and publish it. You could be right but I'm pretty sure Robert is a lot richer. He talks to trump and can make political moves it's a different level. He just needs to come out with new content.
I get the concept, but what about interest in the borrowed debt?
@@hak1985org no body questions the ethical part of it. You are making everyone poor in order to be Rich. what a shame. This is the Mentality of Robert Kiyosoki
Came across his book Rich Dad Poor Dad 12 years ago. At 43 and a construction worker for more than 25 years. I am very happy I came across his book. My home will be paid off next year Lord willing.
Look up an allodial title
I already read RichDad PoorDad about 5 years ago and it was so life changing, and then I switched to steady cash flow coaching, cash flow secret made me financially free.
It's like using credit cards to your advantage. Borrow money to create assets and slowly pay the loan and still save some money to get more assets. Borrow again to get more assets. Rinse and repeat until you become rich.
Have you used this process yourself?
I think his brain forgot about the left side of his face
he had a stroke in the past
not good, stop with the insult.
@@FFMBJoey ah that makes sense
The majory of rich life is base on the debt they get from banks. They never gonna pay the debt.
If everyone did it, they'd start taxing debt.
😂😂😂😂😂
I graduated from the same Merchant Marine Academy as this guy. Me? Debt-free, sleep at night.
Make sure financial advice you receive is in line with your country’s economy
Paying interest on debt = paying tax
Is true what he say this the reason why they are rich the play the money around. Is simple philosophy of the life.
What he forgot to tell is that debt taken by business and by individuals have different laws. If u take debt in ur business name, the worst is u default and u still get to go Scott free if it's limited liability company. If u take on name of personal debt, u default, u will still have to pay. No amount of financial education will help u, unless u own business. And think about it : if everyone is running business, who is the employee? Then these same laws will change.
He, and all billionaire, including jaspreet, take debt on their share of the company they own. That's why businesses owners get tax breaks.
Thank you for this bro🔥
that's true. thanks
Kiyosoki is misleading everyone. I'm disappointed
It literally cost $150-$200 to open an LLC in the US. There will always be a new younger generation along with the I Can't people who just want a paycheck and go home. I would prefer everyone to have their own business - then you'd discover you don't require a government to manage your money for you and you can represent yourself. There will also be more options at cheaper prices. People would flourish.
Is thay why you won't start a business? Because you are concerned if everybody starts a business no employee will be left?
I just got done explaining to my 60 year old relatives why Robert is a modern day rockstar!
Modern day snake sales guy who will make you broke
sounds like a really shitty way to spend your time. Don’t think your 60 year old relatives could give a fuck about what this guy has to say. It’s funny to me how all the people who cling to this guys words and defend him are… still poor. Lol
I swear you try to teach others how to do what he did and they jealously react instead of reassess and follow the once poor but now rich, who’s sharing his “secrets” man!! 🤯🤦🏻♀️I am so grateful for the very minimal rich people who are willing to share AND teach us how to be prosperous with the very things set up to keep us poor! 🤦🏻♀️🤯Thank you for sharing!😊
Don’t be sold on a wolf in sheeps clothing who tells you, “hey buddy, I can make YOU a wolf too!”
Exactly. They don’t teach us stuff cus it would break the system if everyone knew how to win
Everyone drinking Champaign, until the Debt-Collector enters the room.
🤣🤣🤣
"Champaign"😂😂😂😂
It's amazing how he keeps saying that same shit over and over again. Yet, he never explains in full detail how to do it.
He has entire books, games, and seminars on how to do it. I've read his books - he uses real life examples. He pushes education because there's no just 1 way of doing things and variables apply to every situation. You must educate yourself on finance.
If ordinary people literally take his words.. Guess what happen?
They get rich
Debt?
Poorer
jail
_Nothing_ would happen.... "Ordinary" people can't _"borrow"_ large sums of money.
We are scared of debt and not to borrow any money and who will lend out money .
Who trusted money for me ?
😭😭😭😭😭😭
This dude voice is like hearing cats cry, that facial expression is a true snake
Robert is getting on my last nerve. Guy’s been bullshitting and gaming the system his whole life.
He Spell Debt like ... Death ! Lol ! So in Point 😅🤣😂
The tax in debt is called INTEREST
You pay no taxes because you've cheat codes, I pay no taxes because I'm unemployed, we're not same bro
Hang on in there mate no shame in being unemployed you will get there!
kiyosaki says so much but so little at the same time!!! Lol 😂
man i wish i knew the true inner workings of money
He's clearly tried the Durex Taxless ribbed
*Anyone else randomly just started watching shorts and now it’s just a everyday thing?*
:)
As if Instagram reels wasn’t bad enough
How many times are you going to comment the same comment
Go away
Also, I learned recently, when u borrow the money, tax free again, u are not responsible if anything outside happens to it, it’s insured, whereas if something happens to your own money your shit outta luck!!!
!
This is my friend giving excuses for not returning my money.
i have a feeling that one of his income is lending people money
Last year, I wrote a check at the end of the year because I had to pay $14,000.
The year before that, I wrote a check at the end of the year because I had to pay $14,000.
One of those years, the $14K that I paid was called *_taxes._*
The other year, the $14K that I paid was called *_interest on the debt that I borrowed._*
Does it REALLY matter what you call that $14K that I had to pay? I still had to pay it either way.
Don't tell Kiyosaki.
Genious response
it does matter, actually!
if you pay that 14000 as a credit payment, you're allowed to get refunds.
first split the 14k into two groups, we call em interest (i) and principal (p).
first year, say your 14k is really about 11k i and 3k p.
on i you can just get a tax break, if it's a business expense.. so make sure it's a business expense. refunds you your tax rate, let's take 20%, worth of i. so a bit over 2k.
as for p, this lowers the outstanding debt (yes, i doesnt do that). when paying p, you gain p as book value on whatever thing was being paid for with the loan, assuming its not a car or something similarly value-bleeding. so +3k in book value from p. which is important because there's ways to turn book value into cash.
this is one of the tricks robert uses.
note p gets larger every year, while i gets smaller by the same amount.
tldr:
robert only really paid 9k insteada 14
@@alduinfeetpic9250 - I.... or should I say "(i)"... like most people don't have a business. Next.
Not really, but at least one is supposed to go back to society, while the other goes to your already rich friend
I thought this was crazy then I remembered this is what the federal government does and they’re doing alright😂😂😂
😂facts omg
The federal government is 30 trillion in debt and can only function because they steal from us.
@@chriscrawl3732 I kno
Look at the face on the turban lol literally !
Borrowing the dollar is basically like shorting the dollar which is a smart thing to do.
I wish I knew this when I was young But it's too late now
Well, I was wondering about this at age 64. A reverse mortgage held until death allows purchase of appreciating assets, even other real estate. But we were taught to fear debt. We feel shame being in debt. Yet the entire US government operates on debt. We still have time, but we can't relax in debt. Our minds can't handle it.
I am debt free
I am free
😂😂😂 im laughing at the man sitting across from Mr. Kiyosaki. This is hilarious! His expression has not changed. Like "Damn why im i not doing this?" 😐😑
The reason why so many people that are rich borrow money is because its a way to dodge taxes
If you’re in debt, you’re not rich
It’s a balancing act you have to the right people like lawyers, advisors etc. Trump is doing the same thing and lots of other people. All they do is borrow money buy properties and repeat.
Wrong. If the majority of your debt is on income producing assets that produce more than they cost, you’ve leveraged debt to make a lot more money than you could have without it.
Wrong
Debt is one thing. Networth is another.
Yup. Ask his family how rich they are after he passes.
Someone come get their grandpa.
This "grandpa" just exposed how the elites stay in power while empowering peasants like you to beat the system.
This 40-second speech has and will contribute far more to humanity than your whole life can ever do or accomplish.
Lets just Say, Dave teaches you to get the hell out of the hole while Rob teaches you to become milloonaire.
Interest is essentially a tax on your loan
That’s weird I borrow money and get further in to debt 😢
Cause you can’t handle debt
@@goldenotis9703 you missed the point
💡For most people, Robert Kiyosaki is THEIR Rich Dad.🎯
🙏🏿May God BLESS him.🙏🏿
That's the so-called the snowball principle but it doesn't apply to everyone.
He took “Takes money to make money” literally 😂
Someone lend me a billion!
Dave said it correctly: “most people can’t handle debt”….which is also why he calls it “Baby Steps”. Most people are fucken children when it comes to money and they use debt to buy dumb sh8t, not assets.
I listen to both Robert and Dave and the more I listen to Robert Kiyosaki, I realize his message is more for self starters, entrepreneurs, investors who don’t wanna conform to the standard 9 to 5 life. The more I listen to Dave Ramsey, I realize his message is more towards people in the middle class who just work their 9 to 5 and want to retire at 65. For them, it’s a good message to simply get out of debt, save money in your 401k/Roth IRA. but for gogetters, hustlers, Kiyosaki might work better.
Bruh his net worth is only $100 million. And he says he's a billionaire??🧐🤨
@The Rich dad ㊉①②①④⑦⑨⑤⑨⑤⑤⓪ with only 2 subs 🤣
A billionaire in debt, he just means he has a debt of 1 billion. Just a wierd way to phrase it, boosts his ego probably.
This guy giving out very valuable secrets that no schools in the world able to teach. Take notes !
I’m in debt till death! 💰 ☠️