“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.
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