Why You Should ALWAYS Have Debt | Robert Kiyosaki

About this video

• Video Title: Why You Should ALWAYS Have Debt | Robert Kiyosaki
• Channel: The Iced Coffee Hour Clips
• Speakers: Robert Kiyosaki
• Duration: 00:08:14

Overview

Robert Kiyosaki discusses his perspective on debt, differentiating between "good debt" that makes you wealthy and "bad debt" that leads to poverty. He explains that understanding financial literacy and speaking the language of bankers is crucial for leveraging debt effectively, drawing parallels to the game of Monopoly. Kiyosaki also touches on common misconceptions about him and his views, such as his assertion that a house is not always an asset, and shares an anecdote about encountering lazy individuals who are unwilling to invest in their own financial education. The video also includes a sponsorship segment for Helium Mobile.

Key takeaways

• Debt as a Tool: Kiyosaki argues that debt can be beneficial if used correctly, distinguishing between debt that generates wealth and debt that depletes it.
• Financial Literacy is Key: Understanding financial statements and the "language of money" is essential for working with banks and leveraging debt for financial gain.
• The House as an Asset Debate: Kiyosaki reiterates his controversial stance that a house is not automatically an asset, defining assets by their ability to generate positive cash flow.
• Monopoly as a Financial Teacher: The game of Monopoly is presented as a simplified model for understanding real estate investment and wealth building through strategic debt utilization.
• Critique of Laziness: Kiyosaki expresses frustration with individuals who are unwilling to invest time in their financial education and expect quick riches, contrasting them with those who actively learn and strategize.