Is the rich dad poor dad in debt?

Robert Kiyosaki, author of Rich Dad, Poor Dad, shares his unique philosophy on debt and investment. He uses debt to pay for assets, categorizing luxury vehicles as liabilities. He also advocates for saving gold instead of cash and has amassed a debt of $1.2 billion.

Is Robert Kiyosaki in debt now?

Hilo, Territory of Hawaii, U.S. Kiyosaki was sued in a class action suit filed by attendees of his seminars, and is the subject of investigative documentaries by the CBC, WTAE-TV and CBS News. In January 2024, Kiyosaki stated that he was more than $1 billion in debt.

Why is Robert Kiyosaki in so much debt?

Instead of saving cash, he saves gold and converts his earnings into silver and gold. This strategy, according to Kiyosaki, has led to an accumulation $1.2 billion in debt, an amount he admits to. He says he is in debt because “if I go bust, the bank goes bust. Not my problem.”

Why Rich Dad Poor Dad is a bad book?

For a book that claims to teach people how to get rich, Rich Dad Poor Dad doesn't actually tell you what to do with your money. It's full of vague encouragement but offers almost no concrete steps. There's no budget advice, no investment plan, no timeline—just big-picture theory and inspirational one-liners.

Is Rich Dad Poor Dad still relevant in 2025?

But here's what hasn't changed: most people still don't know how money really works. And more importantly, most people are still living paycheck to paycheck. Rich Dad Poor Dad is still relevant because it doesn't just teach you what to do — it teaches you how to think. And that's timeless.

Robert Kiyosaki - Rich Dad, Poor Dad: How To Use Debt To Get Rich

Does Robert Kiyosaki believe in God?

I am not very religious yet I do suspect there is a higher power called “GOD.” Is America experiencing GODS WRATH?

Who owns the biggest debt in the world?

The United States has the highest amount of national debt in the world, owing some $36 trillion or 122 percent of its annual economic output.

Who is the guy who is 1.2 billion in debt?

Robert Kiyosaki, 'Rich Dad, Poor Dad,' Proudly Says He's $1.2 Billion In Debt And That's Why He's So Rich — 'I Use Debt as Money and I Don't Save Cash'

What is Dave Ramsey's net worth?

As of 2018, Ramsey had an estimated net worth of $55 million. In 2021, he sold his custom-built home in Franklin, Tennessee, for $10.2 million and began construction on a new home in the area. Ramsey is an evangelical Christian and described himself as fiscally and socially conservative.

Are most millionaires debt free?

The millionaires lived on less than they made, avoided debt like the plague, and invested consistently over time. Money doesn't fix money problems—behavior does. The sooner you stop trying to out-earn your bad habits, the sooner you'll start building real wealth.

Who owns most of our debt?

Investors own about two-thirds of the national debt, or $24.4 trillion as of March 2025, the latest figures available. The rest is held in various federal trust funds and retirement programs ($7.3 trillion, or 20.1%) or by the Federal Reserve System ($4.6 trillion, or 12.6%).

How does Robert Kiyosaki pay off his debt?

Kiyosaki's strategy is to leverage his wealth by using good debt. He borrows money at a low interest rate, invests it in an income-generating asset that can serve as collateral for a larger investment or provides a return above the borrowing rate and then uses the income to service the debt.

Are Dave Ramsey and Robert Kiyosaki friends?

Ramsey advises people to live within their means, avoid debt, and focus on using their income to build wealth. Despite their differences, Ramsey and Kiyosaki have mutual respect. Ramsey has said on X, "Robert and I are friends. I highly recommend Rich Dad Poor Dad book.

Is Robert Kiyosaki a billionaire?

Robert Kiyosaki, the bestselling billionaire author of Rich Dad Poor Dad, recently made a startling revelation: he has $1.2 billion in debt, according to a YouTube video. In a 2022 YouTube video, Kiyosaki explained that the reason he's “so rich” is because he's in debt.

Why does Robert Kiyosaki not invest in the stock market?

Won't Work: Buying Stocks and ETFs

Kiyosaki frequently refers to stock market crash events as incentive to hold physical assets instead. In a March 9 post shared to X, he referred to gold and silver ETFs as fake — and Wall Street as a whole reliant on “stupid” investors.

Is believing in money a sin?

In Christian tradition, the love of money is condemned as a sin primarily based on texts such as Ecclesiastes 5:10 and 1 Timothy 6:10. The Christian condemnation relates to avarice and greed rather than money itself.

How rich is our God?

God is infinitely rich, because he owns all that is, and because he can make more of anything that he pleases out of nothing.

Does Robert Kiyosaki believe in crypto?

In recent posts, Kiyosaki has reiterated his support for Bitcoin as a crucial component of financial freedom, particularly in the face of what he considers unsustainable government spending and monetary policy. For Kiyosaki, Bitcoin offers a solution that real estate and other investment options cannot provide.

Do rich kids end up rich?

Rich parents breed rich kids. But there's more to the passing of wealth than inheritance. From the moment a child is born into a wealthy family, their parents' spending habits determine if they, too, will be in a high income bracket as an adult.

At what age did Robert Kiyosaki retire?

In 1994 Robert sold his business and, through his investments, was able to retire at the age of 47. During his short-lived retirement he wrote Rich Dad Poor Dad.

What is a good net worth at 40?

By the time you reach age 40, prevailing wisdom says you should have a net worth equal to about twice your annual salary. Hopefully, you climbed the salary ladder a bit in your 30s, too. If you're making $80,000 annually, for example, your goal should be to have a net worth of $160,000 at age 40.

What does Dave Ramsey say about life insurance?

Core Ramsey Teaching: You only need life insurance while you have people depending on your income. Buy a 10–20-year term policy worth 10–12 times your annual income. Since life insurance is only for the short-term, you should only buy term life insurance. (Hence the name.)