Rich Dad Poor Dad author shocks fans with $1.2B debt

3 pointsposted 4 hours ago
by wslh

5 Comments

rasengan

4 hours ago

Depends what interest, contingencies and on other information to understand if 1.2B debt is a problem or not. Otherwise, for most UHNW people, debt is just a number on a balance sheet.

perrygeo

4 hours ago

What's ironic is that the book goes to great lengths to explain this. The entire point of the book is: use leverage to grow assets.

The alternative, not taking debt and using income to directly pay expenses, is literally called out as the "cash flow pattern of a poor person"!

Agree with his financial strategy or not, it's very clear that accumulating debt was part of the plan, not some failing of the plan.

drop_star

4 hours ago

The "debt" are the mortgages on multiple properties from the real-estate investing firm he's part of.

No need for concern he's still very wealthy.

PaulHoule

4 hours ago

I can't picture people being "shocked" by this. Kiyosaki always said you should be aggressive about using leverage.

paulpauper

4 hours ago

this is misleading. it's debt like a mortgage, not as in that he is literally broke.