Robert Kiyosaki has a slightly different definition. A bad debt is any debt that isn't making you money. A mortgage could technically be considered a bad debt, regardless of rate because it takes cashflow out of your pocket. If you have a mortgage on a rental property, and you have rental money left after paying the expenses, then that's a good debt.
Where do u find your bad debt? Where do you even find that info?
Robert Kiyosaki has a slightly different definition. A bad debt is any debt that isn't making you money. A mortgage could technically be considered a bad debt, regardless of rate because it takes cashflow out of your pocket. If you have a mortgage on a rental property, and you have rental money left after paying the expenses, then that's a good debt.
So good debt that still takes thousands of dollars out of your wallet every month is good?
Well in the scenario the created that debt would be yielding more money than it would be taking away from you making it a net positive
*Dave Ramsey has entered the chat*
What’s your household income?