Rich Dad Poor Dad author shocks fans with $1.2B debt (finance.yahoo.com) 3 points by wslh 10d ago ↗ HN
[–] rasengan 10d ago ↗ Depends what interest, contingencies and on other information to understand if 1.2B debt is a problem or not. Otherwise, for most UHNW people, debt is just a number on a balance sheet. [–] perrygeo 10d ago ↗ What's ironic is that the book goes to great lengths to explain this. The entire point of the book is: use leverage to grow assets.The alternative, not taking debt and using income to directly pay expenses, is literally called out as the "cash flow pattern of a poor person"!Agree with his financial strategy or not, it's very clear that accumulating debt was part of the plan, not some failing of the plan. [–] drop_star 10d ago ↗ The "debt" are the mortgages on multiple properties from the real-estate investing firm he's part of.No need for concern he's still very wealthy.
[–] perrygeo 10d ago ↗ What's ironic is that the book goes to great lengths to explain this. The entire point of the book is: use leverage to grow assets.The alternative, not taking debt and using income to directly pay expenses, is literally called out as the "cash flow pattern of a poor person"!Agree with his financial strategy or not, it's very clear that accumulating debt was part of the plan, not some failing of the plan.
[–] drop_star 10d ago ↗ The "debt" are the mortgages on multiple properties from the real-estate investing firm he's part of.No need for concern he's still very wealthy.
[–] paulpauper 10d ago ↗ this is misleading. it's debt like a mortgage, not as in that he is literally broke.
4 comments
[ 0.19 ms ] story [ 21.9 ms ] threadThe alternative, not taking debt and using income to directly pay expenses, is literally called out as the "cash flow pattern of a poor person"!
Agree with his financial strategy or not, it's very clear that accumulating debt was part of the plan, not some failing of the plan.
No need for concern he's still very wealthy.