Celebrity financial expert reveals unconventional perspective on debt and finances

In a surprising revelation, renowned Japanese-American businessman and author of “Rich Dad, Poor Dad,” Robert Kiyosaki, disclosed on the Disruptors podcast that he is currently $1.2 billion in debt. While the staggering figure might be alarming to many, Kiyosaki, with a reported net worth of approximately $100 million, nonchalantly dismisses concerns, asserting that he views debt as a form of wealth.

Kiyosaki’s Unconventional Stance:

In the podcast, the 76-year-old entrepreneur boldly stated, “I’m a billion dollars in debt because debt is money.” He further expounded on his mistrust of the dollar, expressing his belief that the financial system, particularly banks, is facing imminent challenges.

Strategic Use of Debt:

Contrary to conventional financial wisdom, Kiyosaki advocates for the strategic use of debt, especially when acquiring assets. In an Instagram reel, he challenged the notion of being debt-free, labeling it as ‘the worst advice you could give anybody today.’ According to him, using debt to purchase income-generating assets, such as real estate and oil wells, is a savvy financial move.

The Key is Hard Assets:

Kiyosaki emphasized the importance of ‘hard assets,’ distinguishing between owning stocks and actual assets like cash-flowing real estate and oil wells. He highlighted the continuous income generated from tangible assets, contrasting it with the potential volatility of stock market investments.

Cautionary Note on Bad Debt:

While promoting the strategic use of debt, Kiyosaki acknowledged the existence of ‘bad debt,’ cautioning against using borrowed money to acquire liabilities. In another Instagram reel, he revealed that his personal liabilities, such as a Ferrari and a Rolls-Royce, are entirely paid off, emphasizing his selective approach to debt.

Distrust in the Dollar:

Expressing a lack of trust in traditional currency, Kiyosaki disclosed his preference for converting his cash into precious metals like silver and gold. Additionally, he mentioned holding some funds in bitcoin, citing his skepticism towards the stability of the dollar.

In an era where financial advice often leans towards debt elimination, Robert Kiyosaki’s unconventional perspective challenges the norm, urging individuals to reconsider the role of debt in building wealth.