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Debt is bad. Don’t do drugs…I mean debt.
If you can borrow money at X% and get a return on it >X% with acceptable risk, you will benefit. That's "good". That's "debt".
My mom grew up eating up the advice of Robert and David. She's got no financial plans or literacy after all my 30 years of life knowing her. She cannot live financially free like me because she always listens to snake oil salesmen. Take it from me, learn finances on your own with tried and true research of multiple subjects (like economic principles, risk analysis, and enterprise finance).
I figured this out almost 20 yrs ago when staring down my student loan debt. The math is pretty simple.
Can you explain the benefits and risk of a HELOC? Thx!
The only people I know are doing well are those on the govt doles.
Robert: I am the debt.
Debt got us out of debt.
Its the same as Kiyosaki
Why is Kiyosaki dressed like a yakuza??
Useless video
Omg you are the first person that I have 100% agreed with..on debt.
I don’t Own a house yet, I do feel free. Our rent is so low I can contribute to our portfolio and ira. I’m the sole provider to my son, it’s too much of a risk to buy a house since I’m the only provider and attending nursing right now.
I used to respect Kiyosaki, till I found out he got rich by scamming people. Not that far from the Amway bullshit. On top of removing credit to the lady that coauthored his best seller book.
Kiyosaki can say whatever tf he wants.
Debt works for those who know how to play the game.
According to the internet:
Dave Ramsey net worth $700 million
Robert Kiyosaki net worth north of $100 million
I love this guy. We need more plain content like this that avoids the all too common sensationalist bs we get on YouTube.
I do nothing and will die NOTHING!!!
But i didn't get one thing which is how are you getting intrest returns on your mortgage aren't you supposed to pay intrest on your mortgage instead of getting.????
You would have to be an idiot to pay off a 2% mortgage right now if you have one.
No Debt! Just Gifts!
The problem with debt is that the vast majority of people do not have the discipline to pay off that debt quickly
Stop being a brainwashed hyper-consumer will resolve majority of your money issues
Did you get hired by Doge ????
I don’t know why people waste their time with lunatic dave ramsey, he even tells people to buy a house with cash ????????
Debt is one of those things that can either make or break your financial future. I’ve seen people drown in bad debt, struggling to get by, while others use it as leverage to build wealth. The key is knowing how to manage it and honestly, most people don’t. That’s why so many end up stuck, paying interest for years instead of using their money to build something meaningful.
So… the same take of Dave, he says homeowning and SOME (but most of them not) student debt can be good, he just doesnt want ppl to think being 100k in debt for a liberal arts degree, or buying a 3bd condo while being single is OK, you should normalize debt bcs "everybody has debt, its normal", thats Dave's take, also bcs of the implication on your mental health of being in debt.
I like this advice. Often the truth is somewhere in the middle and Brian makes a lot of sense here.
The only debt I have left is my home, I'm 8 years into a 30 year loan, but my interest rate is 3.2% so I refuse to move. I do pay child support, that's more than my mortgage, but my oldest is nearly a teenager, so I don't have a SUPER long time left, however once she turns 18, my support drops in half and I will be able to double my monthly mortgage payments and cut the remainder of my mortgage.
I'm incredibly grateful that my financial diligence has paid off so far. Every month I'm saving 600 and putting it into a high yield savings account at 4%.
It wasn't that long ago I was deciding between food or gas every other week.
My family was so poor I stole food in high school almost daily so I had something to eat at home. And I struggled to stay afloat all the way until 2022.
Had I followed my parents footsteps, footsteps, I would be incredibly poor and a poor example of a father to my kids.
I'm very grateful to have a home, and cars that are paid for. So many of my kids friends are growing up in slums and their parents are struggling. It breaks my heart knowing that struggle.