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Rich Dad Poor Dad author shocks fans with $1.2B debt
- rasengan 1mo agoDepends 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.
- PaulHoule 1mo agoI can't picture people being "shocked" by this. Kiyosaki always said you should be aggressive about using leverage.
- perrygeo 1mo agoWhat'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 1mo agoThe "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.
- paulpauper 1mo agothis is misleading. it's debt like a mortgage, not as in that he is literally broke.