‘Rich Dad & Poor Dad’ author confesses he owes a millionaire: “If I go bankrupt, the bank will go bankrupt” mixture

Famous American businessman and author, Robert Kiyosaki, known for his personal finance advice and author of the best-selling book ‘Rich Dad, Poor Dad’, has admitted to facing significant debt of around $1.2 billion .

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This shocking confession was made by the author himself through his podcast and his Instagram account, and it has left his more than 3.6 million followers around the world astonished. However, what attracted even more attention was its most recent investment.

Contrary to what might be considered a concern, Kiyosaki highlights his particular approach to debt and finance, making an important distinction between what he calls “positive debt” and “negative debt”.

The author explains that from his perspective, debt can be an effective tool for generating wealth, as long as it is used to acquire assets such as gold, silver, and cryptocurrencies. In his own words, “If I go bankrupt, the bank will go bankrupt. not my problem,

Loan with a Purpose

The businessman emphasizes that he does not recommend going into debt to acquire material goods, but only for investments that generate dividends and contribute to long-term financial growth.

Additionally, Kiyosaki expressed his critical attitude towards the practice of saving money in cash and stated his distrust of the dollar. ,I use debt as money and I don’t have cash because the dollar became debt in 1971”, referring to a policy implemented by Richard Nixon that ended the convertibility of the US dollar with gold.