₦airaland Forum

treesun:
Rich Dad Poor Dad’ Self-help Author Robert Kiyosaki Is $1.2 Billion In Debt



source

Yes they don't tax debt, and if you kpai, debt is gone. We come with nothing, we go with nothing. Nothing for nothing

Enochi:
For a man who promotes being in debt, this is the ultimate demonstration of living by your words—do as you say.

But really If you check,mist billionaires are in debt...hmm.

Why does he hates stocks?

And what is stocks pls?

ayoncox:
he hates stocks

pongus:
Bloggers or let me say who wrote this article, his/her degree is questionable. Repeating same sentences, same line over and over again, very bad reporting. Lacks summary, trash

I actually thought I was having a brain fog while reading. Turns out it was just me reacting to crap.

The guy book would give me headache because it is bullshit

occfx:
Yes they don't tax debt, and if you kpai, debt is gone. We come with nothing, we go with nothing. Nothing for nothing

He doesn't have any child. Married a white women would is like his boss (can even enjoy pus***y)

That guy's book is the definition of almost everything to making wealth.

Especially the area concerning the four(4) quadrant, which are-: employees, small business people, big business organizations, investors.

Forget about the borrowing stuff. Me particular don't read much about his debt views..

faceland:
The guy book would give me headache because it is bullshit

zoedew:
Truth simply is that the assets when sold can pay off the debts. Nothing lost!!!

High networth individuals don't borrow loans to pay back like the average, they borrow never to pay back the capital but only interest and capital get written when they die.

Summary
1.Robert Kiyosaki reportedly says he is associated with about $1.2 billion in debt through real-estate investments.
2.He argues that this debt was used to acquire income-producing assets, not mainly for personal spending.
3.Kiyosaki himself has warned that ordinary people should not copy his strategy without proper financial education.
4.His former wife and business partner, Kim Kiyosaki, says the $1.2 billion is often misunderstood.
5.Much of the debt is connected to a large portfolio of apartment buildings and investment partners.
6.She says Kiyosaki’s personal share of the debt may be far smaller than $1.2 billion.
7.His strategy involves borrowing against increased property value and using the funds for further investments.
8.Supporters describe this as “good debt” when the borrowed money generates more income than it costs.
9.Critics warn that heavy borrowing is risky because falling property values or rising costs can create serious financial problems.
10.Main lesson: Debt can help build wealth when carefully managed, but excessive borrowing without knowledge and strong cash flow can lead to financial disaster.

RichDad1:
If you've read some of his books, you'll understand this is part of the schemes to avoid taxes. 😅😅
I've been an ardent follower since 2004. I have almost all his books. He influenced me buying so many stocks and lands as far back as 2006. Sadly, the stocks turned into bad investments, while the lands gave me more than 5000% ROI.
However, I stopped following when I realised most of his principles were not designed to work in an African and most especially Nigerian markets.
He's the lore behind moniker when I decided to registered on Nairaland after 2 years as a guest in 2007.
Seun added the 1 years after without my consent 👎👎

Good to know.

Business debt is very different from personal debt.

Even Elon musk and dangote have business debt.

zoedew:
Truth simply is that the assets when sold can pay off the debts. Nothing lost!!!

If the property prices don't collapse.

I have a few close friends who are using this same tactic, a particular one had bought over 10-12 properties in the last 4-5 years.
I reckon he has over £3million debt tied to those properties, he is using a limited liability to operate the business interests too.
Things are going great at the moment but I have serious concerns for him, the rate at which he acquired those debts and the financial protections are not there

I experienced the recession in 2008 which was tied to subprime loans and the reality is that same scenario is building and can burst anytime in the future.

PapaNnamdi:
My wife advised me to borrow 1billion dollars , buy the bank and clear my debt,

That woman is wise as fxck

You do that and the FEC would be after you.

PapaNnamdi:
My wife advised me to borrow 1billion dollars , buy the bank and clear my debt,

That woman is wise as fxck

Not wise move.., Buying a Bank means buying the assets and liability , so how much would be left to maintain the banking operations from your 1 billion dollars loan, and how do you intend to pay back

Porksupplyib:
The lands only kept ur money intact. The inflation between 2006 and 2026 is way above that 5000% if you do your calculations right.

You talked with so much authority for something you've got zero knowledge about.

galantjoe:
Easier said than done is a popular English saying.

If wishes were horses, beggars would ride.

Education is not guaranteed for wealth
That is why many graduates are Keke and okada riders. Many graduates are poor, while many school leavers or dropouts are billionaires doing well for themselves

Because those graduates are graduates of useless courses of study. If they had become graduates of money making courses, the story will be different.

zoedew:
Truth simply is that the assets when sold can pay off the debts. Nothing lost!!!

oya sell it na let me see

galantjoe:
Easier said than done is a popular English saying.

If wishes were horses, beggars would ride.

Education is not guaranteed for wealth
That is why many graduates are Keke and okada riders. Many graduates are poor, while many school leavers or dropouts are billionaires doing well for themselves

Only in Nigeria where source of wealth is not verified. Anyone can pop out tomorrow with tons of money without traceable source. Secondly, where corruption is considered a lifestyle, it doesn’t take education to be wealthy. Just have a connection to the national cake.

rayopt:
Bs post from ny times. If you know the man well you will know this has always been his message. Always. Even from his first book. I won't expect less.

Exactly. He has been doing this for donkey years. Don’t know why. Nairaland is acting like it’s a big news Lol

I remember him describing "rat race" in that book.. perhaps that's it in reality

onatisi:
Most billionaires are debtors — but strategic ones. They borrow money to grow their businesses, not to cover personal expenses. The key difference between the rich and the poor lies in how they use debt: the poor take loans to survive, while the rich take loans to invest and multiply their wealth. As long as their investments generate enough returns to repay those loans and still profit, debt becomes a tool for expansion, not a trap.

The poor can’t have access to the kind of loans the rich gets. You see that Femi Odetola book and How he got access to heavy loans. Sometimes these wealthy folks don’t even pay off their debts.

They never pay back the loans

Elzazzi:
The poor can’t have access to the kind of loans the rich gets. You see that Femi Odetola book and How he got access to heavy loans. Sometimes these wealthy folks don’t even pay off their debts.

Gboss247:
High networth individuals to borrow loans to pay back like the average, they borrow never to pay back the capital but only interest and capital get written when they die.

A lot depends on whether the borrowing is done in their personal name and secured by a personal item.

zoedew:
Truth simply is that the assets when sold can pay off the debts. Nothing lost!!!

His net worth is $100 million

GuestInfinity:
His net worth is $100 million

He appears cooked tender!

Love800:
Why does he hates stocks?

And what is stocks pls?

Stocks is Ponzi scheme, pump and dump. All Kiyosaki is earth, either land, rare metals and leveraging on the Government backed Ponzi called debts (that is fiduciary)

There many more world billionaires who were school dropouts than those that finished schools. Some of them included.

Bill Gates: Left Harvard University in 1975 to co-found Microsoft, creating the software and Windows operating systems that changed personal computing.

Mark Zuckerberg: Dropped out of Harvard University during his sophomore year to focus full-time on building Facebook (now Meta).

Steve Jobs: Left Reed College after just one semester, later co-founding Apple Inc. and helping revolutionize consumer technology.

Larry Ellison: Dropped out of two different universities—the University of Illinois Urbana-Champaign and the University of Chicago—before founding database giant Oracle.

And many more notable personalities,so therefore compare their countries they are and '"corrupt Nigeria" as you refered to impediment

Arostar2023:
Only in Nigeria where source of wealth is not verified. Anyone can pop out tomorrow with tons of money without traceable source. Secondly, where corruption is considered a lifestyle, it doesn’t take education to be wealthy. Just have a connection to the national cake.

Exactly, those that studied profitable courses are not serious fellows while those that studied useless courses are very hardworking guys

Ike gwuru

blesdman:
Because those graduates are graduates of useless courses of study. If they had become graduates of money making courses, the story will be different.

Thanks so much.

ayoncox:
Stocks is Ponzi scheme, pump and dump. All Kiyosaki is earth, either land, rare metals and leveraging on the Government backed Ponzi called debts (that is fiduciary)

Am not broke, am comfortably rich. I have basic education - professional certification for that matter.

georgeakins:
Is that why you're poor and broke?

His book cannot help him

Putting what he wrote to practise. we know what this is all about if you're an ardent reader of his books. Too much sense