RICH DAD’S GUIDE TO INVESTING (BY ROBERT KIYOSAKI)

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Follow in the footsteps of the rich, not the poor. This is a top 5 takeaway summary of Rich Dad’s Guide to Investing, by Robert Kiyosaki - a man who grew up learning the importance of this first-hand.
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Top 5 Takeaways from Robert Kiyosaki’s Rich Dad’s Guide to Investing:
00:00 Intro
1:14 1. Create Assets, That Buy Assets
3:37 2. Use Debt as a Lever
5:49 3. Maximize Expenses, Minimize Income
8:20 4. Acquire the Thee E´S
11:01 5. Start TODAY
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TL;DW:
- Build your money-machine by creating an asset that acquires additional assets.
- Once you have a working formula, embrace debt as a friend, and use it to leverage your cash-flow
- Minimize income withdrawn and maximize expenses that can help you excel
- To be able to size financial opportunities you need education, experience and excess cash
- You need to right only once - start today
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My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there - investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties - I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett - the greatest investor of our time - says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process - upgrading your money-making toolbox.

[@TheSwedishInvestor]

The best books for escaping your 9-5, by Robert Kiyosaki: bit.ly/31lGZNF

[@adeebkhan2878]

Can we use debt to invest in stocks as it is an asset

[@InvestMindset]

@@adeebkhan2878 Using debt to invest in asset is the most foolish thing to do. Debt is a magnifier, it magnifies the result. If you make profit, you make huge, you make losses, you go bankrupt.

[@Will-be-free]

@@adeebkhan2878 If you have to ask, then no, you should not do it. Otherwise it may be a good idea.

[@KITYTV19]

@@adeebkhan2878 never

[@heinrizliyaputra7811]

@@InvestMindset Using debt to buy asset is Robert's way

[@afr0flava]

Let me add to that. Although I haven't read this book, I read Rich Dad, Poor Dad early last year and guess what - I was so inspired, I took action and started a small online business. It went well but I got too excited and invested in a second product. This time around, I got a business loan - grave mistake as the product didn't turn out as expected and I got into debt (good debt turned bad debt). Moral of the story - yes, start a business, but ensure you have CASHFLOW to sustain it, as well as actually LEARNING a lot about the business and doing the due diligence required to run a successful business. That's my 2 cents, hope it helps someone out there. :)

[@TheSwedishInvestor]

This is really helpful afr0flava! Thank you for sharing 😊 Debt spent recklessly (not necessarily saying this was you) is always bad debt, no matter if it's poured into a company or into a luxury car.

[@In-The-Truth-Man]

Please tell me more. What was your first product? What was the second product that you invested in? Are you still in business?

[@bossman7144]

At least you tried

[@1hundred475]

Remember what rich dad said about building an empire state building without the foundation! Dont give up, just work on the foundation

[@FinanceGuru]

kzbin.info/www/bejne/jam8pKZ6eq50ask

[@pawewawrzyniak2271]

In all 3 books you will find basically the same content spread across 200 pages that could have been written down in 10 pages. To sum all 3 books up: buy assessts, don' work for others, being jobless makes you more creative.

[@weenerdawg3972]

What are assets? What type of Assets?

[@simrankaur32]

not exactly

[@appenknol1236]

What is a liability than you really sound stupid

[@Tlhakxza]

If that’s your approach to reading KIYOSAKI’s books then you’ve missed a whole lot of Education...he’s repeating those things to knock’em hard into the readers’ heads.

[@BenGenio]

Since people are so trapped in the Rat Race, their minds need to be reprogrammed. He does that by telling stories and actually force their readers to spend time reading and thinking. Hard to achieve that by just ignorantly summarize the book in one sentence.

[@NickPeitsch]

Loved the book Rich Dad Poor Dad. So many useful tips and a total mindset shifter

[@Real.Estate.Report]

My upbringing is surprisingly similar to the story in this book. I ended up stuck in the rat race starting at age 19 and still there at age 34. But really hustling to live off my rentals and KZbin in the next 2 years. Wish me luck!

[@recycle_your_money]

It’s been 2yrs. How is it going so far? I see you have 29k subscribers on youtube. Well done.

[@tooday6156]

I just found your channel... Fantastic idea! Absolutely loved watching the video!

[@JosephDiazRamirez]

Read this book and it’s amazing to see the concepts I learned and visualized in my head and wrote notes on not only turned into a well produced video but a different interpretation of the book

[@tailand2753]

Thank you for the video and the summary, it's very clear and helpful. Thanks Robert too!

[@PonchoRebel]

These videos are incredibly valuable in spreading the word about changing the money mindset. Especially in such a fast-paced world, where most people don't prioritize reading books. Thank you for taking the time to make them~

[@panchasanguparakalarajan8948]

Very interesting and nicely explained. Thank you sir for sharing.

[@aliballo1676]

From now at 4am in China Every morning I’ll learn and understand a video of “Takeaway “ I’ve already watched more than 10😁 that’s the first video that I watched on this channel . Thank you and God bless you 🎯🏃🏾‍♂️

[@TheSwedishInvestor]

ALI BALLO I'm glad that you find the videos useful! Cheers!

[@gamingshortschannel1109]

Increasing expenses is needed as long as the cashflow (passive income) is more than the debt

[@vanangelopaz1412]

Very insightful my good Sir ! Will definitely read into the book !

[@faezmohtar947]

Great vids as ever. But personally I like the practicality from Robert Kiyosaki. Thanks a lot

[@TheSwedishInvestor]

🙌

[@doctorkokus]

I really like Roberts take on debt, but i am also quite keen on the Buffet-stance that you don't need debt to make huge amounts of money. I would also reffer to your Peter Lynch video and the idea that if you use leverage and the market goes down you would be eridicated so you wouldn't reap the benefits of the rebound. Nice video though

[@adityakale5302]

Using debt to get into markets is a bad idea, but using it to buy a 2nd home for rental isn't bad

[@PatrickJaszewski]

Thank you - this was a new one for me an I'll look forward to reading the whole book. Thanks for the summary!

[@TheSwedishInvestor]

Cheers bro! 🙌

[@FinanceGuru]

kzbin.info/www/bejne/jam8pKZ6eq50ask

[@davionmitchell7506]

Beautifully done

[@TheSwedishInvestor]

🙌

[@benjapolcycling]

It was a great summary but as I listen to audio book many times I am thinking of his 5 level of investor idea that not in here. I think it will be more complete to include 5 level of investor as well. Also another key point for me is "investing is a plan, a personal plan"

[@unidentified6365]

Your videos have great value for time.. good work.. and thank you..

[@TheSwedishInvestor]

🌟

[@ratnakarmadan5465]

Great videos! I have seen videos on different topics but similar look and feel. I really like these. Which editor/software/platform do you use to make these videos?

[@TheSwedishInvestor]

Hey Ratnakar Madan, glad you like them 👍 The software used is called VideoScribe!

[@GavinvanRooyen]

So great we both share a passion for this 💰

[@haronxodus]

Thank you for your brilliant content! #healtandwealth

[@investingtv3262]

I'm now 13 and retired a Billionaire! THANKS ROBERT!!!

[@jmx318]

Investing TV yea no your not 😂

[@investingtv3262]

@@jmx318 ok then :(

[@elithepitmaster5054]

Lmao!

[@DadavsDady]

How?

[@000harris1]

He learns how to reincarnate into a rich family to inherit the wealth, study Bardo Thodol for your next life 😊

[@GauravKumar5410]

Love you man... Love from India.

[@rocknrolladube]

My favourite book in the series.

[@TheSwedishInvestor]

🙌

[@vindieseloncrack3054]

7:43 So, it is not expenses. It is investing!

[@GoncaloGuitarist]

Very good instructional videos. Keep up the good work! 👊

[@reforgedholdingsllc4989]

Thank you.

[@mardini]

i've heard of his books but never actually read it. but in a quick summary, a business does not succeed in by maximizing expenses. a lot of things a business buys like inventory, or asset investments are not considered expenses, and reinvesting company's revenue into the company is also NOT minimizing income, u reinvest the company with retained earnings. He literally have to give new meanings to these words in order to make himself sound smart. its like saying in order to lose weight u have to get FAT, by fat i mean really good BMI and lots of muscle mass u know the standard fat. also a typical "poor" person does NOT maximize income and minimize expense! his statements literally says every single employee who does zero personal investments are considered poor, which means if a US president does not do any investments he/she is considered poor. his continuous labeling do this and ur rich or do this and ur poor is just a cash grab feeding off ppl's poor judgement to buy his book.

[@dolevmazker736]

You are right man. Robert kiyosaki is a dark man. Yes his books do inspire people, but when you attain financial learning you understand that he talks rubbish and his story isnt even checked out with facts. Who is the rich dad? Where is the proof he was in the army? And so and so...

[@hameernagda2921]

@@dolevmazker736 True. His major focus on real estate business cannot be worked out from developing and underdeveloped countries where the cost of borrowing is higher than the rate of inflation. US has it the other way round and so do the developed countries but it is not possible in the other countries. His focus is always on business, but what about people who are earning a good salary, lying in that top 5% income of the country, I mean they are doing well in life. Why put that down is something I don't get it. Also for families where the kid has seen the business not doing well (which a case with most businesses, the fact that barely 5% businesses really boom) why would he not get that mindset of job security and stabilising his family income. I would agree with such a person's thoughts for he has seen those hardships. Of course the good part of it was focusing on spending on necessities and investing rather than splurging on unnecessary luxuries, avoiding debt traps mainly those that create liabilities rather than assets. Those are some good points. It is should always be this ratio - Income (-) Savings (-) Necessary Expenses = Additional savings (+) Luxuries (meaning receive it, save first, spend on the basic needs then if you have some left over save more and then maybe you can have that 1 cheat purchase a month) These are my 2 cents

[@dolevmazker736]

@@hameernagda2921 Damn bro, speaking facts. You are so right on the side of business and the 9-5 jobs. The thing that people dont talk about is that most people just want to make enough money to live a respectable life. It is great to aim high but being a multimillionare is just a figure. Once you realize that having enough money to be comfortable to do what you like without having to worry about tomorow is what im aiming for. And I dont mean retiring before im 60, its a nice thought but perfectly fine working 90 hours a month making great income while still having the time to learn what I love. Kiyosakis whole idea is to the extreme, and I dont see it that way. Its nice to meet someone who shares my views. Good luck to you

[@hameernagda2921]

@@dolevmazker736 Yeah it's true. I appreciate your thoughts. At the end of the day for a good life happiness and a good family is the most important. Once you have that amount of wealth which helps your life to be comfortable it will all come down to those 2 important facts. There is no point working on that business which is taking so long to set up that your family suffers both monetarily and non monetarily. Coz at the end of the day if the people you are working for are not happy, nothing will matter. No amount of wealth can give that satisfaction that your own folks happiness will and that you can be there for them and they will be there for you. Yes you should do smart investments and build passive income streams to ensure stable income flow because they are necessary. But toiling hard and ending up losing those significant years of life will surely make me regret on the deathbed when there's no one around. Why die in a mansion with no one when you can live in a good house with everyone.

[@ryanagar7498]

This channel is part of the pareto distribution, allows me to absorb concepts in such a little time. THANK YOU!

[@TheSwedishInvestor]

Awesome to hear Ryan Agar, then I've fulfilled my intentions 😁

[@ryanagar7498]

@@TheSwedishInvestor it's an interesting time, with information being able to be simplified and so easy to consume 👍

[@Hunnybun0012]

I was recommended this book years ago but never get my way around to actually sit down and read it. Then I noticed that 10 out of 10 finance professions have this in their recommendations. Now, im curious. Just ordered it today. I guess something is good out of the pandemic.

[@chhuanteachhakchhuak7770]

Is it good?

[@momchilandonov]

Don't trust the hype and misleading overrating. The Intelligent Investor is the best book on investing - way better than RDPD.

[@momchilandonov]

@You Too stocks and bonds - like 1/3 of the book is dedicated to bonds which is a shame, as an intelligent investor doesn't need to invest in bonds at all. The book has nice overall hints/tips for investing, but yeah RDPD covers some other aspects.

[@capitalistmasters]

This is my favorite Rich Dad book

[@Holidayjones2024]

Hello Swedish Investor. Thank you for all the hard work you put in to you videos which are amazing... what software do you use for the white board videos? Thanks

[@mohamedismailadamsa837]

Hello there can you tell what equipment model and software you are using to make videos

[@jonnhy_mark]

Great video especially with some specific tips!

[@mohinichavda30]

Thankyou so much

[@zaintirmizi4502]

6.:08 he actually worked stocking shelves at his rich dads convenience markets

[@roriemsworld1678]

Great Breakdown!!

[@theoc543]

God kväll Swedish Investor! A good book I've read and been following for some time with my own investments is Rule #1 by Phil Town. Looking at your content it connects a lot with Ben Graham and I think it would be a good video if you would do it. mvh, Theo C

[@tancho1780]

1st at no.3 i was shocked cause i read this book and he never said that as far i know but then he explained and i get it. thanks

[@Dfm_Sushil]

Your channel is awesome 👏

[@gauravdc]

Thank you,I love your videos

[@Americacituzen]

Great Threee's ,Thank you for your vedio ☺️

[@chetanrajgarhia3247]

Hello Sir. Great video. Plz if such type of videos could be made and be helpful for me. If such videos could be made so that I could be informed.

[@aero_singh]

Hey buddy! your content is amazing but you must discuss about B-I triangle strategy as well..

[@multifxinc2561]

go invest with the company that he always talk about you will make more profits

[@stevolukic]

Hey man, great work as always. You could expand your audience if you read and summarized some books on cryptocurrencies and/or foreign exchange (forex). There are always more areas to explore. Cheers.

[@TheSwedishInvestor]

I appreciate it stevolukic! Do you have any suggestions for crypto/forex? Have you read books on it yourself?

[@stevolukic]

@@TheSwedishInvestor Not really because I'm not yet well informed on crypto, maybe you could try with "for dummies" series. I've still yet to read Jim Brown's Forex Trading: The basics explained in simple terms. I'm still on the learning path like yourself.

[@roybello8944]

First book that I read that gets me to stock investing.

[@videohut4445]

Excellent video. Valuable information most people don't know about.

[@Winder809]

What type of assest i can get

[@tomk3975]

Excellent presentation!

[@hamidja1537]

Thanks for sharing

[@dmm615]

Great summary! This book shifted my mind as much as Rich Dad Poor Dad did. Thank you!

[@TheSwedishInvestor]

Heey Daniel Mina, long time! I'm glad you liked it, cheers bro! 👍

[@SPSChauhan]

Excellent Reviews

[@NOREALESTATEINVESTORLEFTBEHIND]

Great stuff, man love the content you share would like to see how we can share your content on our Channel.

[@roselovely8323]

I have to buy this book, thank you.

[@multifxinc2561]

go invest with the company that he always talk about you will make more profits

[@akoaywaladito2566]

Great contents...😉

[@TheSwedishInvestor]

Cheers Mark! Glad to see you in the comment section again 😁

[@dannythered23]

Ummm I know I should know this, but I'm unsure because it seems to be spoken generally. But what's an 'asset' that's mentioned in point #1 ? Is that like a house?

[@darcienotyourgirlfriend500]

an asset is a property owned by any individual that is to make money for him and not take money from him. think of it as money that makes money but in other forms. that's why everyone now HODLs bitcoin..

[@luxurybuzz3681]

Asset makes you money. Liabilities take money away

[@viveksinghsays]

Which software you use for this presentation, is it free or paid Please tell i want to start my own channel

[@kingmugabe7073]

Haha

[@javierjp8549]

Kiyosaki made most of his miney through books...

[@MindestensDreiZeichen.]

and his rich dad never existed

[@angelfelixgallardomiguel]

True

[@mikeybroski3686]

Kinda of the reason I’m just watching these videos: don’t feel like listening to all the fluff and giving him money. Some of the advice feels pretty spot on anyway, even if the author is kind of a con.

[@javierjp8549]

@@mikeybroski3686 i just downloaded all of them by pdf for free (pdf drive = website)

[@mikeybroski3686]

@@javierjp8549 lmao, based. Just get the useful info and out con the conman.

[@GanpatiRam]

Thank you brother ❤

[@trollanmash3685]

Im your fan Mr Swedish investor

[@Kerath]

Worth to note is also the fact, that this book only "works" if you apply it to the America Economy and IRS Tax System. If you live in the UK, everything that is Tax Free in America is pretty heavily taxed in England. That's why all the people who wanted money and freedom moved to America long ago. Those who stayed had "servant mentality" and it shows. Being a Landlord in the US is completely Tax-Free. Being a Landlord in the UK is taxed as heavily as everything else.

[@oligarchytheatre777]

I JUST WANTED YOU TO KNOW, THAT THE WAY YOU PUT YOUR VIDEOS HELPED ME GET BACK REORIENTED TO THE THINKING i WAS TAUGHT LONG AGO... I'M READY TO TURN THE SWITCH, ALL THE LIGHTS HAVE TURNED ON, I'M 51 NOW AND LIFE OF TRUTH BUILDING BROUGHT ME BACK TO WHERE I AM IN MY BUSINESS CHANGE!!! THANKS!!! (YOUR VIDEO WAS THE BREAK IN THE LINK OF THE CHAIN OF MY THINKING THAT HELPED BRING ME BACK TO MY FOCUS IN THIS AREA! ;-D ) I as a mature man actually had a little cry...

[@mingzheng4645]

full of gems!!!

[@michaelhofby]

Only thing I Dont feel like i have a good grasp on is What Capital to use in the start.. Im thinking starting a business part time is the first Best move and When that is off the Ground, you take the Capital from/in that business and start Getting more cashflowing Assets? Is it good to use the equity in the first rental property to help finance the next one? Problem with doing that, is that it does bring much more risk because IF the housing market crashes while you have borrowed in the equity, the creditor might force you to pay up right away, because of the fact that you now Owe more than the first House is “worth” in the market .. anyone can give some insight?

[@TheSwedishInvestor]

As long as you have a decent cash flow to pay those interest and principal payments, I think most financial institutions will leave you alone even if your end up in an "upside-down" loan situation (loan > equity). I would use equity from the first rental property, but I would make sure that I have a nice margin of safety when I compare my cash flow and my interest payments.

[@michaelhofby]

The Swedish Investor yeah for sure . So the first Deal has to be a really good one

[@michaelhofby]

The Swedish Investor Im creating a portal online for people to find rental homes and making it free for landlords to put up their rentals . For the people that are looking for rentals it Will cost a monthly subscription to be able to actually contact the landlords but anyone can browse for free.. There is a huge demand for rental housing here in this country and most of the platforms are not Great and often have scammy listings so people Dont have much trust to those portals - i Will brand mine differently. But i am in need of Capital to invest into marketing in the startup phase

[@HanifMuammarRifqi]

Inspiring...

[@13579john]

how do u buy asset from company with gross income ? I thought there is company tax on all profit

[@TheSwedishInvestor]

All normal expenses are subtracted before corporate taxes. Assets are a bit different, but if it's assets that are used in the operating business, you'll be able to get them tax-free. This is what costs for depreciation and amortization represents in the income statement (they are deducted before taxes apply).

[@vidanity]

I am living a Millionaire Lifestyle!!!! Thank you for everything I need I already have. #blessed

[@noyraland]

Great videos. Thanks!!

[@baronsamedi3152]

Du är så jäkla bra!

[@TheSwedishInvestor]

Sjukt kul att höra, tack baron samedi 😍

[@ryanagar7498]

Does Robert say anything about going from a person/employee to a business

[@jameskurniawan1016]

This is not from Robert Kiyosaki but from my opinion, i guess the best way is to soak up experience from finding out what business you're going into and go work in the industry to know ins and outs of it. Then when you have enough experience(and capital from your working days of course). You can try to apply all that you have learn and hope for the best, or you can even find investors because of your experiences earlier! even if you fail, you will learn what to do next time as long as you don't ever give up.

[@ryanagar7498]

@@jameskurniawan1016 yeah that's what im thinking, Im guna try working in a few different fields, I didn't graduate cause I just couldn't decide what to do and commit the debt and time to just change my mind anyway. Thanks for you input bro 👍

[@jameskurniawan1016]

@@ryanagar7498 just try a lot of things bro, then when you clicked with one just grind it as hard as you can, good luck! happy to help :)

[@sophiastanfield9971]

Thanks!

[@TektAudio]

I'll need a help. As a musician, what are the assets? As an architect, are there any assets? If there are, what are they?

[@shivasivadass6437]

Well the music and your skills are your intangible asset, the value of your music. In addition, if you produce music, that is an asset because your music is sold to earn income. As mentioned, assets are anything that helps to put money in your pockets than taking it out. As an architect, your asses would be your skills and the tools that you use to build your building etc

[@dewayneabner260]

But what if i could invest in forex then to real estate and buy other assets and create one which is a business?🤔🤔 so buying assets wouldn't be a good idea?? I'm confused w how it was explained in the video. I'm in chapter 6 of Rich dad poor dad Rn.

[@ThusithaThanthirige]

Great

[@aprilhunter3437]

Awesome!!!Big Like

[@iPondR]

I've always been a bit cynical about these kind of books but there's a few good ideas here... the main one is how to think like a business person and not an employee... not bad I guess

[@multifxinc2561]

go invest with the company that he always talk about you will make more profits

[@lezzzzgooooooooo1778]

actually this point is very common.. a lot of ppl say this

[@anantgarg6214]

Hi Could you please share the summary for "The Business of the 21st Century by Kim Kiyosaki and Robert Kiyosaki"? Thanks!

[@cankatorum4093]

Imagine flexing on a child.

[@TheSwedishInvestor]

😂

[@HarukiYamamoto]

😂 😂

[@bhaumikchaturvedee1574]

LMFAOOOOOOOOO

[@FinanceGuru]

kzbin.info/www/bejne/jam8pKZ6eq50ask

[@mediaconnectsocialmediamar5421]

😝😂😭

[@kevinbe.n]

Wow it really helped me a lot and now engaged into real estate

[@SuperSkandale]

Where can I get a business education if I don't want to go to school ? Any books or programs recommended ?

[@whatsap7879]

Hello contacts Jane Fredfx she’s a professional trader she will guide you through

[@whatsap7879]

([phone])

[@farhankhalilappan2496]

Nice 👌

[@sylvainduret9880]

Already read 😉

[@weerobot]

Awesome...

[@TheSwedishInvestor]

😁🙌

[@shubhamagarwal7305]

can anyone can tell me how we make money if we use debt and buy asset and rent it n the rent which is coming is going in bank so how we make money?

[@putinsgaytwin4272]

Well you want your rent to be much higher than your expenses (bank payments) Income - expenses = profit

[@americantickling]

Can someone help me understand the part mentioned about how you can buy assets with your gross income and only pay taxes on the remaining net income? I was under the impression that only business expenses can be wrote off as deductable when doing taxes for your business? So how can you invest in a separate asset from your business using the gross income of your business and have that be wrote off as tax deductable?

[@dhabu9017]

The exact answer depends on the country you're talking about (and I do not live in the US), but the general idea is that the assets would be bought by a corporation, which you control, and then counted against the net earnings of that corporation, reducing its taxable income. The asset would be owned by the corporation, not you directly (which is a fundamental tenet of Kiyosaki's model), but be subject to your control as the majority owner of that corporation. That said, the tax laws of most countries are not as favourable towards corporations as those of the US, so your mileage (or kilometrage) may vary.

[@Yash-jk9qi]

Love from India

[@goransvraka3171]

I liked the video but again its not very specific...more of a repeat of the first book. i wan tto know how do u spot an opportunity, or look for one...example of ones? Great i know that i have to! example of some formulas to try or how to create the formulas! How exactly do you create assets? I want a specific guide... 1. Go here 2. do this ,etc....

[@minhan2990]

at 5:54 , I think it should be "Maximize Income and Minimize Expenses" instead of "Maximize Expense and Minimize Income".

[@Lucky.Man.Altimori]

El problema con esto en Argentina es que la tasa nominal anual y parcial x cada préstamo ( de parte de los bancos y demás entidades crediticia ) es exorbitante y para nada entusiasmadora.... !

[@ninoswizz6609]

Awesome video 👊🏻🏡🔝💙🚀

[@stern_standard]

Love this video

[@jameskurniawan1016]

It pretty much sound similar to rich dad poor dad, is this book just a detailed version of rich dad poor dad???

[@randombanana640]

its like an episode 3

[@damien6151]

Great video 💎💎💎💯

[@michaelhofby]

The most crazy thing is that if you look around in your circle of family and friends, most people are obviously Getting into bad debt constantly and They do not have any idea about assets/liabilities ... “look my bank allowed me to buy a House!” ... They are just programmed to Think like that somehow

[@joelteklu5565]

Ikr!!!

[@coloneljpgaming]

True asf hahahahaha

[@kelvinreyes64]

Ok grateful for all of the knowledge Robert K. has taught me but he just repeats himself after the cash flow quadrant.

[@kviswa8177]

warren buffett quote (2.04) not work in Andhra Pradesh in india 😉

[@InvestMindset]

Using debt to invest in asset is the most foolish thing to do. Debt is a magnifier, it magnifies the result. If you make profit, you make huge, you make losses, you go bankrupt.

[@coloneljpgaming]

Ok but it works for me though he is right.There’s one time i buy some old house for $80,000 but i only got $40k so i borrow some money to the bank and got the house for $73,000 and i renovate it and i let it sit for 1 and a half year then pandemic hits the house that i bought goes up to $150,000 lol and i sell it directly then pay the bank for $40,000 and i got my profit $110,000 that’s how you use your debt to be a good debt

[@Kraken89911]

I would not agree on maximising expenses... its a BS, you always want to optimise - pick what is optimal given circumstances, otherwise you are doing it wrong.

[@farhankhalilappan2496]

Love you from Pakistan