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Rich Dad, Poor Dad author shares he’s $1.2 billion in debt

Renowned Japanese-American businessman Robert Kiyosaki, author of the bestseller “Rich Dad, Poor Dad,” boasts a net worth of approximately $100 million, yet he’s unapologetically swimming in debt. Dismissing concerns, Kiyosaki attributes his nonchalant attitude to his distrust in the dollar.

In a recent Disruptors podcast episode, the 76-year-old entrepreneur declared being “a billion dollars in debt because debt is money.” He boldly asserted that our banks are on the brink of collapse, advocating for investments in gold and silver as the ultimate safeguard.

Contrary to conventional wisdom, Kiyosaki contends that advising against debt is the worst guidance one can offer in today’s financial landscape. He passionately advocates for utilizing debt to acquire assets, emphasizing the importance of hard assets like cash-flowing real estate and oil wells over volatile stocks.

In an Instagram reel, Kiyosaki differentiates between good and bad debt, cautioning against using debt for purchasing liabilities. His paid-off Ferrari and Rolls-Royce serve as examples, highlighting his strategic approach to leveraging debt for appreciating assets.

Kiyosaki’s financial strategy involves converting cash into silver and gold, supplemented by investments in bitcoin. He remains skeptical of the dollar’s stability, embodying his belief that in the face of a financial downturn, it’s the bank’s problem, not his.

In a crisp and engaging manner, Kiyosaki’s unconventional approach to wealth and debt challenges traditional financial advice, advocating for a strategic embrace of debt to build lasting assets in an unpredictable economic landscape.