- Those who advise people to get rich are themselves in debt…
- 10000 crore loan on Robert Kiyosaki
- What is the exact reason to take the loan?
Robert Kiyosaki Debt News : Rich Dad Poor Dad is one of the world's best selling books. Robert Kiyosaki, the author of this book, is not known to anyone. They are very active on social media. They are telling the solutions to become rich. But did you know that these world-renowned authors of get-rich advice are themselves in debt?” Kiyosaki (Debt News)
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A mountain of debt on Kiyosaki's head
A New York Post report has made an important revelation about 79-year-old Robert Kiyosaki. In it, he said that while giving lessons of financial success to people all over the world, they are stuck deep in debt. They are heavily indebted from real estate investments and have accumulated a debt of $1.2 billion, roughly over Rs 10,000 crore.
“This is for the rich…”
When asked about his massive $1.2 billion debt burden, Robert Kiyosaki has no regrets. He has even openly acknowledged his debt in a podcast. “So what, I'm in this debt,” he explained on the 'Get Rich Education' podcast, according to reports. Explaining the reason behind this, he said that borrowing to buy income generating assets is a strategy of rich people. He further advised, “You don't do what I do, do you?” He explained, “I've been studying this since 1974. If you want to learn how to use credit, you better take a few lessons.”
Kiyosaki's ex-wife explained?
His ex-wife and business partner, Kim Kiyosaki, has also voiced her opinion on the huge debt. She recently told Vanity Fair that the $1.2 billion figure is widely misunderstood and is not Kiyosaki's personal debt. “Along with our business partners, we own several apartment houses, totaling approximately 1,500 units,” she explained. According to Kim, “Technically, yes, we have this huge debt, but it is related to real estate and Kiyosaki's personal stake is small. This huge debt is just part of Kiyosaki's investment strategy.”
That is the whole purpose
A report by the New York Post explained Robert Kiyosaki's entire arrangement. It said that Robert Kiyosaki borrows heavily from banks to buy real estate and when the prices of these properties rise, he takes out new loans reflecting the increased prices. This benefits them because bank loans are not counted as income and they continue to use this money as tax-free cash.
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