Rich Dad, Poor Dad' author Robert Kiyosaki reveals he's in $1.2 billion debt. (lemmygrad.ml)

submitted 2 years ago* (last edited 2 years ago) by SovietReporter@lemmygrad.ml to c/us_news@lemmygrad.ml

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https://www.livemint.com/money/personal-finance/rich-dad-poor-dad-author-robert-kiyosaki-acknowledges-he-is-1-2-billion-dollar-in-debt-if-i-go-bust-the-bank-goes-bust-11704369035314.html

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[-] bleepingblorp@lemmygrad.ml 16 points 2 years ago

Being in debt doesn't make you poor. Loads of millionaires/billionaires are in debt. There are reasons why a millionaire/billionaire would choose debt over just paying outright.

If the interest/capital gains of their assets is higher than loan interest rates, then paying outright would be a net loss.

Invested assets: 10% annual gains Loan interet rate: 5% APR

In the above case, keeping the assets invested and taking on the debt would still net gain the remaining 5%.

this post was submitted on 19 Jan 2024

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