Robert Kiyosaki - Debt is Good?
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- Опубліковано 19 жов 2024
- Robert Kiyosaki describes the difference between good debt and bad debt. Do you understand his comparison? If so, would you dare to take debt in order to become wealthy?
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There are good choice of eye glasses 👓 and bad ones as well 🤣
😂😂
It doesn’t matter you know why? He doesn’t pays for it. 😂😂😂 now my friend that’s good debt
💀💀
safety goggles headazz
Cry
OH Fuck!! I overpaid for that $5mill apartment and now owe the bank $4Mill...
Doesnt matter, tenants keep renting so they keep paying for you
So don't eat, buy 5 Million Dollar Apartments.
It's that easy.
You can eat with your own money. The Bank will buy 5 Million dollars apartment for you then your tenants will pay your debt.
@@yksogrenci6376risk risk risk, tenants didnt pay during covid perfect example of aka being boned
Literally
@@yksogrenci6376why will tenant pay the debt??? Ubtalking about rent???
It takes 50 years to do it and when you finally do it you look like him and your life is at an end already....you don't want sushi😂
Dis nigga got swag
Ong😂
This guy is a white man for sure!!
😮😮😮 Billion Dollar question "Where this guy buy Eye Glass"
Interest ?
Facts, I was just about to say that. Imagine he borrowed 300k to buy an apartment that costs him 150k. He’s still got 150K for his use, cool.
Here is the problem, according to some lenders I interacted with. You can’t get the remaining money to use and invest it. Even tho it is lender money. The bank negotiates for you and the end user or Realtor.
Also, what about interest, when you buy something for 30 years, you’ll be paying around 2 to 3k depending on the location and how much down payment you’ve made.
He could be putting money from his pocket at the end of the day. For you to let the tenant pay for the house, you need a reasonable down payment in place.
Interest is compensated with increased bills. Real estate never goes in either direction. They don't get rich on one real estate. they get rich since the bank give money. The money is paid by the rent. The money can not be touched. It's an investment that you can not use this money.
You sit on the money, you don't give it to anyone, not to yourself not to the company.
You don't keep it in a bank. You use either bonds or loan it out for an interest return.
The bank provided the money but you can not use it because this is money you going to need in the future. You got a job, you got the real estate give money to pay the bank who gave you the money.
Bills on the rent goes up as the political pressure increase the rent. More inflation give more money. Company blaming on unsustainability, increasing the prices, blah, blah. The company owners getting richer.
@@robertagren9360 how is the debt tax free? I don't understand
Either way guys a million air got to listen
Sounds good until your tenants don't pay their rent.....then you're in trouble. If you own that apartment out right, and your renter doesn't pay, it becomes a minor inconvenience. Debt is never good. It robs you of your peace. People can do whatever they want, I hate debt and the feeling of being attached to someone else in that way.
Tax free..
@paulbunyan6024lol you say that like it's 100% success rate
Indemnify the stress with insurance
Just set up multiple companies so if one goes bad it can’t contagion to the others
You wouldn’t be really that stressed because banks will have to make you have cash reserves in the bank before approving you for a loan
Super relatable , once I finish my shift at Walmart I’ll go get into some good debt. Just need the money for a house or two..
read his book. you don't need 6 figures in the bank to acquire assets.
@@gfum115before i read his book,can you tell me how the bank landed debt at the first time? I think we need to gain some trust isn't?
@@DictateAS i'm not sure what you're asking brother.
@@gfum115 simple how can bank so easly landed you lot of money at the first time?
every one who is making big money makes it by taking advantage of opportunities(sometimes by all means)... Even Warren Buffett said, we wait for a great company to get into temporarily trouble, we want to buy them when they are on the operating table... think about that for a moment, everyone thinks they are holy or humble when they are poor but start making money you will understand the number one rule of the financial world which is "Human beings eat one another, not physically, but financially"... you will find that in the book called Think and grow Rich...
Bankrupt Dad
Robert Kiyosaki, author of the book, "Rich Dad, Poor Dad" filed for corporate bankruptcy through one of his companies, Rich Global LLC.
He used multiple corporations to avoid paying his contracted obligation to Learning Annex.
So his “advice” is “create dummy corporations, screw your partners, keep the money and pretend you are a financial expert.” Thanks Dad!
u forgot the part where u own money and u dont sleep at night
where he*
That was 12 years ago though
@@SnekNyx Kiyosaki knows too much, that's why they're attacking him
Wow what a genius
😂😂😂
Financial freedom starts from that understanding!
How do I get money from the bank to buy real estate? And also how to get without credit score?
So, put a billion dollars down with a dude named Kenny...gotcha
So what debt do we barrow that other ppl pay back?? Only thing i could think of is investment loans for homes where the tenants are paying back the loan....what other debts you can barrow where someone elses pays it off?
Bro can anyone share podcast or interview link?
Assuming steady market and good vacancy rates. Then you have major interest to pay in proportion to your loan.
Debt is debt and it’s never good. Good debt can turn into bad debt very fast. Be debt free and invest as much of your savings as you can that’s the best way for middle class to get wealthy.
Yeah but if you want to be filthy rich good debt is the way to go 🤑
@@hffhg820 broke mindset
Key word:Middle class
this is terrible advice to give. I can tell your clearly not making 6 figures a year
There is such thing as good debt for the average person. If you can get something interest free for a period thats good debt. What that means is you can take the money that would have been tied up in a purchase and use it to make money. For example lets say you could get a whole living room set interest free for a year. As long as theres no penalty for paying off the debt early (an essential part), you could take the thousands and put them in a 12 month CD at 5%. That money was growing, and ultimately you paid the furnite set off with no extra cost anyway. Another way is if the debt will give you access to tax breaks you otherwise wouldn't have access to, or if the debt will be forgiven in the future. A social work buddy of mine took out his grad school student loan knowing he'll never pay the full thing. He found a stipulation that if you work for a not for profit for X amount of years once you get to that tenure the loan will be forgiven. He deferred as long as possible and then only paid as little as he could. He ended up saving tens of thousands of dollars by educating himself on what he was doing.
It's Just simple thing Take debt for good reason don't block debt money
Saying there is good debt and bad debt is like saying there are good snitches and bad snitches
Our economy functions on debt and requires most citizens to have some form of debt in order for the economy to flourish and function properly. This is why inflation is necessary. We aren’t on the gold standard, we were taken off since 1971.
There is good debt. I'll use a credit card to explain how. Most if the time a credit card is bad debt. They come with high interest rates and give you the ability to overspend. But if you are disciplined and only use the debt the line of credit gives you, to pay for thing you would have any way. And you make the payments before the I merest rates hit. Than it's just like using cash but safer. Not to mention most credit cards come with a cash back or rewards system.
What are you talking about debt is debt
@@drellz9361 what's the difference between a mortgage and an investment fund?
Dont understand yes there is no debt on borrowing money. However there is interest on borrowed money. So whats the difference?
LOL that South Park image got me shook lol
How do you get the bank to agree to finance your purchase when you’re a broke college grad with student loan debt???
It’s fake you do your job brother
Build up good credit by using a credit card in a disciplined way. Save up for a FHA home loan and buy a house. Rent out any spare bedrooms to help save up for another loan. Refinance when rates drop to a rate, so you pay less. Or refinance and pull out a shit ton of money when rates drop and pay less in mortgage. Rinse and repeat.
What if you have no tenants or your tenants refuse to pay like what happened during Covid?
I try to teach this but ppl don’t understand
What happens when tenants cannot keep up with rent and you obligation to the bank exceeds tenants rent ??
…and if interest rates go through the roof and house prices crumple your debt is gettimg f* expensive
The thing that people do wrong is putting all their faith into a single asset or type of asset.
Yes. Good debt exists.
But have a backup in case it goes wrong.
Have a fallback to pay off that debt should you need to.
Another investment that's more liquid and non volatile.
This is where gold plays a big role.
It is infinitely better than cash.
If you trust your cash, spend a day. Just one day watching the forex markets change.
And compare any major shifts previously with political and trade decisions made by your country and between other countries.
To those with faith in dollars, I'm getting my popcorn ready to see what happens in the next decade.
Please also explain the consequences if debt is not paid on time if those tenants leave the apartment or on the first place no body wants to rent that apartment
Another banking term compounding interest will be applicable
yeah, nobody talks about so many empty apartments, because not enough want to rent
Before you buy a place, you might want to analyze the area your wanting to purchase. If the analytics tells you is a dying town with a decreasing population, you might not want to invest in an apartment complex.
How do you get a credit rating to get a commercial real estate started?
Right but get 5 million pound mortgage need 4x in yearly amount
But the bank doesn’t take interest on the money which they have lend ???
What about ruba? Interest rate?
Can we use the same property as collateral
u buy a house , u no pay nobody debt 👍
My question is, how does he eat or pay rent? You use capital gains to pay for those kind of things which is taxable income. He says he doesn’t pay taxes.
He doesn't pay income tax.
How about tax on rental income ? 🧐
Between a home, a building, an a team?
but done you pay interest on the loan from the bank
Here in India Apartment installment is 50k and the rent is hardly 25k, so NO, it's NOT that easy and simple as Mr Kiyosaki here puts it.
And yes, the loan too has interest on it. And Banks are not stupid, for first few years they only charge interest payments in the instalments. I don't know which world he lives in. I read his book, and things are not as easy as he puts them to be. He is just here to sell his books and earm major royalty on those.
Well said.
And that’s why you’ll stay broke. I’ve gotten loans to get properties I’m only 27 I’ve sold 2 to offset next years possible recession 😮 but my loan gets paid by my tenants. Yes and the interest on the loan. Good credit just build your credit people don’t over think it. 😅 I’d rather have people think it’s hard there’s less competition than you think 😅
When you are rich, you play with different rules. Rich people can borrow money cheaper than the poor.
Don’t read the book, put it in practice…
Reading books don’t make you rich.
@@805_tj5 india has very haigh rates of taxes which country you live in ?
This is absolutely correct 🎉
Sure.
Debt is not tax free
Is it.Correct me please if am wrong
There’s also interest even if your credit score is excellent, there is also tenants who get cancer and don’t pay..oh and sometimes a pipe bursts inside the “asset” which requires “debt”.
The tenet not paying isn't as bad as it seems, if you have other assets that can soak it up. Insurance can pay for alot of damages. Not to mention you can increase the loan amount with .ost kenders, for maintenance, repairs, and renovations.
How does he make the payments plus interest tho?
In yhe example he provided, his tenets are making payments that goes towards his loan, interest included.
Mr K may not realise it, but he's making the best argument ever that the only tax needed or justifiable is land value tax
Nah the only tax needed are tariffs from exports and imports. Local levies. And that's about it. Taxation is theft especially when it's involuntary
Nope. Those are taxes on exchanges. Very bad for wealth creation.
@@stevef01 makes absolutely zero sense. All taxes are bad for wealth creation. A land value tax is just you renting the property from the government.
Is it risky?
I'm glad that I learned the actual accounting.
great value!
Lets get debt
Borrowing money and all these different things like that is not a good thing
if we can't pay debt in time
Common sense Common sense Common sense in. Moving forward
GOOD ADVICE & CHOICE THERE ARE FOR ANYONE FOR EVERYBODY THANKS KIYOSACKI.
This is risky as hell
Is bitcoin good or bad debt?
But you have to pay for interest
@@saurabh_1208 if you borrow money from bank to buy asset then you have to pay interest in return
Damn. Didnt go to college and on pace to make $100k at 20...didnt know i was that much of an outlier
well let just put it like dys
everyone need cash card mentor
“Debt is tax free”? But you pay interest on it. And you pay tax on the rental income.
Principal pay down is taxable
You save your taxes and what about the interest ? 😢
So just get borrow £1m to put down on a £5m propety.. Borrow the other £4m and then smilw while you're £5m in debt and can't afford to eat.
Got it! Then write a best seller to make enough money to keep your head above water while you drown in debt.
Great plan
""""but i dont pay taxes"""
@@AEGIS-RED-MEGA-VIEWS "and I borrow money.. lots of it"
Those eyeglasses are baaaaad debt
They were given to him free including his suit
free suit = tax free !!!!!!! @@ReliableisHere
Everyone took advantage of the speed demon an the power. Now I'm over everyone with nothing in life but a beautiful life to show
I like to see this guy credit score
What he means by dept what is the full word for that
Department :)
Tax-free? You have to pay back debt with interest.
That's not tax, that's interest...
@@DevKTV 😂 interest is worse
@@sammyg805 how can 4% interest be worse than 40-50% tax?
In my country interest rate 6-7%🤣
@@DevKTV where do you buy properties with 4% interest 😂😂 you think this is 2007?
Robert are we missing out interest expense? Their is no free money. Debt doesn't give you peace.
Should I get a loan to get sushi?
Billion dollars down for a $5 million dollar apartment? Sounds like a horrible deal.
Credit card is good..it build your credit score
Isnt that real estate investment?
And please answer my question
So he doesn’t eat because he pays for it?
I wish this man never dies
I guess buddy never heard about an interest rate
YALL THE DEBT BENEFITS PPL LIKE HIM SOOOOO
He put a billion down for $5 million dollar apartment? Wtf does that mean
So.. how do I get the banks to lend me millions ...
start a 6 figure business.
or even better, sell a 6 figure business & forget a loan completely
OMG Robert killed Kenny! You bastard!
Everybody must win….. it is place for all!!!!important is to not invest just in Covid and war….. okay????
“A billion dollars down on a 5 million dollar house” awesome spelling
@@AutonomyLife 🤣💀
Awesome speaking too
$5 glasses
the most precious asset is ATTeNTION itself.
What if I use my credit card to pay for the sushi but then I rob the place before leaving? Good or bad debt? Lol
But you need some collateral for the debt sooo
Eating sushi is a good debt it's yummy 🍙🍣😋. Life is short Mr Kiyosaki might as well enjoy it and have a good time with family.
Dividend is a good debt because they pay you for what you lost.
✅
gud dr. ... u no pay
bad dr. ... u do pay
... uhlu uhlulu
He’s not wrong though, any investment that appreciates with time and pays for itself is a good form of debt, I went into debt to start my business, made 1.4x the debt back in accessible funds, but if I knew I would enter into needless debt, then I wouldn’t have made the move to invest more into my business, luckily using skill and experience and networking, I was able to make that happen, that’s what he means by Good debt, don’t clown facts, clown foolishness..
He is wrong in saying that debt is tax free. Completely wrong. You will pay the debt back so you will pay taxes
All debt is bad debt, this guy is joking
Wait guys .... here it is ... debt ... is TAX FREE. Who would have guessed.
Yeah I don't understand that
Debt
Wait you put 1 billion to buy a 5 million dollar house? So you paid it all off in cash? Did I miss something?
he is wealthy not because of being good at managing other people’s money. He is wealthy because he’s an author of a sound money idea. That was where his first multimillion come from. Once you are a millionaire, you don’t have to work 9 to 5 and you don’t have normal life with kids stress. You can do almost anything after becoming a millionaire. Even now, most his money is coming from talking, not real estate alone.
He invented the Velcro wallets back in the 80s, he made stacks
He made money when its easy to make money, if you just started today you have no chance
😮😮
Facts. I dont get why idiots are disagreeing. My cousin read his book, and sold his company for milions. Debt could be great or bad. Debt could make you giga rich or giga poor. Just be carefull, and get help if have too. Use the cards dealt in most smartest way possible, if you wanna be the best.
I agree also, but I don't understand that tax free part..
Thats called investment. Basically saying the rich get rich because of the poor.
If you pay for an apartment complex in America, then you're not poor.
In a capitalist economy, the consumer has the choice of buying the apartment and attaining enough wealth to pay for maintenance, rent and other living costs.
In socialist economies, especially Cuba, since it's one of the last true socialist countries in the world; the government has a monopoly on property. This means that your house is your property unless the State says otherwise. If you leave the country for 2 years and wire foreign money to your family that still lives there, your family will be thrown out on the street and the house will officially become property of the State. It does not matter if you pay the electric bills or water bills to the Unión Eléctrica de Cuba.
Also there are apartments where you have to pay rent to a landlord, they are called "Casas Particulares" (Private Homes). You must also display a red eye sign outside so that State Security (Cuban FBI) knows that there is a Cuban living inside.
Good debt is FREE-LUNCH the financial system provide you?,
Bad Debt is daily consumerate, only that you still wanna cheat, but can't (lol)??