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

This video features Robert Kiyosaki discussing his perspective on debt, differentiating between "good" debt that builds wealth and "bad" debt that leads to poverty. He emphasizes the importance of financial literacy, understanding the language of bankers, and building a team of financial advisors. Kiyosaki also touches on common misconceptions about him, his views on houses as assets, and his impatience with laziness, contrasting it with his own dedication to continuous learning.

Key takeaways

• Debt as a Tool: Kiyosaki argues that debt can be a powerful tool for wealth creation, differentiating between owing a large sum that becomes the bank's problem versus a smaller debt that is the individual's burden.
• Financial Literacy is Crucial: He stresses the need to understand financial statements (income statement, balance sheet, cash flow) to effectively work with bankers and secure loans.
• Teamwork in Business: Kiyosaki highlights the importance of having a team, including an accountant, attorney, and banker, who understand your financial strategies.
• Challenging Conventional Wisdom: His controversial views, such as a house not always being an asset and "savers are losers," stem from his definition of assets as things that generate cash flow.
• The Game of Monopoly as a Metaphor: He uses Monopoly to illustrate the concept of building assets (houses and hotels) and the progression of wealth.
• Distrust of Laziness: Kiyosaki expresses frustration with people who expect to get rich without putting in the effort to learn and study.