Home Business Robert Kiyosaki: Navigating $1.2 Billion Debt with Unique Financial Philosophy
BusinessFinance

Robert Kiyosaki: Navigating $1.2 Billion Debt with Unique Financial Philosophy

723

“I use debt as money and I don’t save cash because in 1971 the dollar became debt,” the “Rich Dad, Poor Dad” author Robert Kiyosaki said.

Renowned businessman and author Robert Kiyosaki, famous for his ‘Rich Dad, Poor Dad’ series, recently revealed being in a $1.2 billion debt. In an Instagram Reel, he explained his philosophy on debt, emphasizing using it to acquire assets rather than liabilities. Kiyosaki, also an investor, attributes his substantial debt to his practice of saving in gold and silver since the US dollar detached from the gold standard in 1971.

While driving luxury cars like a Ferrari and Rolls Royce, he considers them liabilities, as they’re paid off. Kiyosaki highlighted ‘good’ debt, focusing on loans for income-generating assets and endorsing investments in real assets, including Bitcoin, gold, silver, and Wagyu cattle, particularly favouring Bitcoin as a hedge against the declining US dollar.

Read: CBN Sacks Board and Appoints New Executives for Union Bank, Keystone, and Polaris

About The Author

Written by
Ikenna Churchill

Culture storyteller

Related Articles

FinanceNews

Ghana Places Former Finance Minister Ofori-Atta on INTERPOL Red Notice

Interpol has issued a Red Notice for Ghana’s former finance minister, Ken...

FinanceNews

Field Check Shows Less Than 30km Completed on Lagos-Calabar Coastal Highway, Contrary to Official Claims

A recent independent investigation has revealed that the Federal Government’s claim of...

FinanceNews

Nigeria: Tinubu’s CNG Initiative Faces Growing Backlash Over Poor Infrastructure

The Federal Government’s Compressed Natural Gas (CNG) initiative has come under intense...

ShopRite malls
Finance

ShopRite’s Empty Shelves, the Story Of Nigeria’s Fading Economy

Once the symbol of modern retail in Nigeria, ShopRite malls across the...