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Yahoo
18 minutes ago
- Business
- Yahoo
‘Rich Dad' Robert Kiyosaki: Follow These 2 Steps To Stay Out of Debt
As the author of the bestselling book series 'Rich Dad Poor Dad,' Robert Kiyosaki believes that money management should be a top priority for everyone. He's dedicated his career to helping people achieve financial freedom and avoid destructive debt. Find Out: For You: Debt can creep up on anyone, too. Whether it's a high-interest rate credit card balance or student loans, the debt cycle can seem inescapable — especially for those living paycheck to paycheck. In an article on the Rich Dad website, Kiyosaki shared two 'rules of thumb' to help you avoid it. In the era of tap-to-pay purchases, carrying cash seems like a radical notion. Almost 70% of Americans used cash for 'few (if any)' purchases in the past year, according to Capital One Shopping Research. Going cashless may be convenient, but it leads to thoughtless purchases, especially on a smaller scale. It's easy to hand over your credit card or tap your phone to buy a $3 soda or a $10 sandwich. The problem is that those purchases add up. One $10 sandwich three times a week adds up to $120 a month, and a $3 bottle of water every workday is $60 a month. With cashless spending, it's easy to miss how those micro-spends pile up. That's why Kiyosaki recommends using cash for anything under $20. You become more aware of your spending and have to plan for it. If you don't have the cash in hand, don't make that purchase. Trending Now: 'Credit keeps charging,' the Urban Institute said to participants in a study on avoiding credit card debt. 'It adds approximately 20% to the total.' That 20% comes from compounding interest, Kiyosaki explained. If you carry a $1,000 balance from one year to the next, a card with a 20% interest rate would charge you $200. So now, your balance is $1,200. If you carry that balance for another year, you'll accrue another $240 in interest, bringing your total to $1,440. By considering that extra 20% upfront, you become more aware of what your credit truly costs and can take better financial steps moving forward. Kiyosaki acknowledged that living without a credit card isn't practical for most people, especially if you don't have a lot of extra money or cash lying around. However, if you pay off your balance in full every month instead of minimum payments, you can avoid the traps of compounding interest, overwhelming debt, or the need to borrow money. For that strategy to work, you need to charge only what you can afford. In other words, imagine that your credit card is a debit card. If the money isn't in your bank account today, hold off on that purchase. This strategy can help you avoid debt consolidation, debt settlement or the highest interest rates imaginable. Just a few moments of consideration per purchase can save you from significant amounts of stress and high interest charges down the road. The bottom line is that credit card debt is what many money experts call 'bad debt.' Missing your monthly payments can wreak havoc on your long-term savings goals. It also damages your personal finances by letting you buy things that don't increase in value, leaving you with a balance and interest charges to pay, and no one is less forgiving than the credit card companies or debt collectors. Caitlyn Moorhead contributed to the reporting for this article. More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 These Cars May Seem Expensive, but They Rarely Need Repairs The 5 Car Brands Named the Least Reliable of 2025 This article originally appeared on 'Rich Dad' Robert Kiyosaki: Follow These 2 Steps To Stay Out of Debt Sign in to access your portfolio
Time of India
9 hours ago
- Business
- Time of India
Civil War has begun! Rich Dad Poor Dad author Robert Kiyosaki warns of global chaos, backs Bitcoin as the only safe haven
Robert Kiyosaki , the bestselling author of Rich Dad Poor Dad , has issued a chilling warning on social media, declaring that a 'civil war has begun,' as ICE raids in Los Angeles reportedly erupted into violence. Kiyosaki paints a bleak picture of what lies ahead — a 'long, hot, violent summer' not just in the US but around the world. In a tweet that has since gone viral, Kiyosaki said the unrest isn't limited to the United States. He pointed to growing turmoil in Japan, China, France, and other countries, suggesting that the world is entering a period of widespread instability. 'This turmoil is described in the FOURTH TURNING by Strauss and Howe, who posit that society operates in a series of 80-year cycles,' Kiyosaki wrote. He linked the current global discontent to previous historic turning points such as the Great Depression, the American Civil War , and the American Revolution. Crypto Tracker TOP COIN SETS DeFi Tracker 4.07% Buy BTC 50 :: ETH 50 3.20% Buy Smart Contract Tracker 1.92% Buy Web3 Tracker 0.82% Buy NFT & Metaverse Tracker -1.68% Buy TOP COINS (₹) Ethereum 230,216 ( 7.99% ) Buy Solana 13,617 ( 5.54% ) Buy Bitcoin 9,379,545 ( 3.81% ) Buy XRP 196 ( 2.63% ) Buy BNB 56,794 ( 2.07% ) Buy At the core of this chaos, Kiyosaki believes, is a crisis of trust in money itself. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Kiyosaki reiterated his long-standing belief that traditional fiat currencies — which he often calls 'fake money' — are eroding wealth through inflation and central bank manipulation. 'The issue is our bankers are stealing the wealth of the people via counterfeit money the central bankers print,' he said. According to Kiyosaki, central banks are enabling a silent financial war on the population. His solution? Move away from government-issued money and adopt what he calls 'sound money' — gold, silver, and especially Bitcoin . 'Gold and silver are God's money. Bitcoin is people's money,' he declared. Echoing sentiments he has voiced before, Kiyosaki urged his followers to 'become your own bank' by holding assets that can't be debased by monetary policy. 'Take control of your wealth. Stop allowing bankers to steal your wealth via taxation and inflation. Stop saving fake money,' he warned. He concluded his tweet with a call to action: 'Save gold, silver, and Bitcoin. Then you will turn… ahead of today's Fourth Turning.' CIVIL WAR has begun. ICE raids in Los Angeles erupt into mass violence. BIG QUESTION: Will it spread? MY ANSWER: I believe we and the world are in for a long, hot, violent summer. This turmoil is described in the FOURTH TURNING by Strauss and Howe, who posit that society… — Robert Kiyosaki (@theRealKiyosaki) June 9, 2025 Kiyosaki has long been a vocal advocate of Bitcoin, especially in times of financial uncertainty. His comments come at a time when Bitcoin continues to trade near record levels amid global inflationary pressures, rising geopolitical tensions, and increasing distrust in traditional banking systems. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
News18
13 hours ago
- Business
- News18
Robert Kiyosaki's Financial Advice: ‘Would Have, Could Have' Is the Language Of Losers
Last Updated: In a recent post on X, Kiyosaki claimed that 'the biggest crash in history' is set to unfold this summer, potentially wiping out millions. Robert Kiyosaki Prediction: Robert Kiyosaki recently shared a powerful message on social media, highlighting the mindset that separates winners from losers. He emphasized that phrases like 'I would have," 'I could have," and 'I should have" are the words of a loser. For years, Kiyosaki has been recommending investments in gold, silver, and Bitcoin. Notably, he pointed out that silver recently hit $35 an ounce and believes it is currently the best bargain, potentially doubling to $70 this year. Kiyosaki urges his followers not to fall into the trap of regret. He stresses that owning assets like gold, silver, and Bitcoin is far superior to saving what he refers to as 'fake money." By investing wisely, individuals can set themselves apart as winners. He encourages everyone to act like winners and take care of their financial futures. Robert Toru Kiyosaki is an American businessman and author, known for the popular book 'Rich Dad Poor Dad'. He founded the Rich Dad Company, which provides personal finance and business education through books and videos, and Rich Global LLC, which filed for bankruptcy in 2012. Rich Dad's Prophecy. In a recent post on X, Kiyosaki claimed that 'the biggest crash in history" is set to unfold this summer, potentially wiping out millions—particularly baby boomers—with collapses in stock, bond, and real estate markets. However, he believes the crisis could also present a rare wealth-building opportunity. 'Millions who are proactive may become extremely rich," he wrote, urging investors to consider safe-haven assets like gold, silver, and Bitcoin. Among these, Kiyosaki highlighted silver as the 'biggest bargain," noting it could triple in value by 2025 and remains 60% below its all-time high. Rejecting ETFs, Kiyosaki said he plans to purchase physical silver. 'Grow richer or grow poorer?" he asked his followers. 'Please choose to get richer."
Time of India
a day ago
- Business
- Time of India
Robert Kiyosaki claims the poor stay poor for ignoring 2 crucial money laws — here's what he says you must follow
Robert Kiyosaki, author of the best-selling personal finance book ' Rich Dad Poor Dad ', has spent decades exploring what separates the rich from the poor, and now in a recent post on social media platfom X (formerly Twitter), Kiyosaki revealed that people remain poor because they ignore two fundamental 'laws of money,' as per a GoBankingRates report. As he explained, here are the two laws of money that one shouldn't break if they want to be rich, according to the report. Bad Money Drives Out Good Money Gresham's Law is the first important law, an economic theory which says, 'bad money drives out good money,' as per GoBankingRates. Kiyosaki has explained it as 'When bad money enters a system….good money goes into hiding,' as quoted in the report. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally ALSO READ: Juneteenth 2025 is near: What this historic holiday means and how U.S is honoring the end of slavery With reference to the currency markets, the law means that legally overvalued currency will drive legally undervalued currency out of circulation and according to Kiyosaki's interpretation, people should focus more on obtaining assets like precious metals and cryptocurrency instead of stockpiling cash, reported GoBankingRates. Live Events Kiyosaki wrote in his X post that, 'In 'Rich Dad Poor Dad' I stated, 'Savers are losers', in 2025, poor people are working for and saving fake money and not saving real money … gold, silver, bitcoin,' as quoted in the report. The Power of Networks The second law Kiyosaki cites is Metcalfe's Law, which says, 'the value of a network grows as the square of the number of its users,' quoted GoBankingRates. Kiyosaki explained by giving this example on X, 'McDonald's is a franchise network. Mom Pop burgers is not. That's why they're poor. FedEx is a network. Joe's one truck package delivery is not,' as quoted in the report. He applies the same logic while investing in cryptocurrencies, as, according to him, the cryptocurrencies that have a larger network behind them are also the most valuable, reported GoBankingRates. The author said, 'I invest in bitcoin because [it] is a network,' adding, 'Most cryptos are not,' as quoted in the report. Why These Laws Are Important To Get Rich Kiyosaki says these two laws guide how he manages his own money. He wrote on X, 'If you want to be rich, obey the laws,' adding, 'Michael Saylor's rich man's words of wisdom are: 'Only invest in things … a rich person will buy from you.' Think about that," as quoted by GoBankingRates. He also revealed that 'I do not save U.S. dollars because the U.S. dollar violates Gresham's Law,' as quoted in the report. Kiyosaki pointed out that, 'I do not invest in … coins without networks, because they violate [Metcalfe's] Law. That's why I save gold, silver and acquire bitcoin. They obey the laws,' quoted GoBankingRates. FAQs Why does Kiyosaki invest in bitcoin over other cryptos? Because Bitcoin has a large, established network behind it, and most other cryptocurrencies don't follow Metcalfe's Law. What's the biggest money mistake people make, according to Kiyosaki? Ignoring the two laws of money, which is not understanding Gresham's Law and Metcalfe's Law.
Yahoo
a day ago
- Business
- Yahoo
A financially independent real estate investor shares the book that changed his strategy and helped him build a profitable portfolio of rentals
Before buying his first property, Manny Reyna read as many books about real estate as he had time. The knowledge he gained gave him the confidence to buy when interest rates hit record lows in 2021. His favorite business book, 'Blue Ocean Strategy, changed the way he thought about his portfolio. When Manny Reyna struggled to find a tenant for one of his investment properties, he turned to a principle he learned from "Blue Ocean Strategy." The book, co-authored by Chan Kim and Renée Mauborgne, breaks down the market universe into two main categories: "red oceans" — the industries in existence today, or the known market space — and "blue oceans," the industries not in existence, or the unknown market space. While "red ocean strategy" is all about competing in an existing market space, "blue ocean strategy" is about creating an uncontested market space and capturing new demand. "One of my homes was not picking up on Airbnb," Reyna, who rents two single-family homes and two tiny homes in San Antonio, told Business Insider. "So, I shifted my strategy to something called mid-term rentals. I took the playbook right out of 'Blue Ocean Strategy': Everyone's looking at this shiny object — short-term rentals — but what about mid-term rentals?" He listed the property on Furnished Finder, which specializes in 30-day plus stays and is geared toward traveling professionals. It's less mainstream than sites like Airbnb and VRBO, and Reyna had to spend time familiarizing himself with a new platform. "Furnished Finder charges you to post your home, they bring in tenant leads, and then you have to engage them, so that's a whole other thing," he said. "I had to make templates and figure out the whole process, everything from screening tenants through a third-party app called KeyCheck to taking deposits and writing leases." The upfront work paid off, he said: "When I went to mid-term rentals, I was able to pick up a lot more bookings. For whatever reason, in the area where the home is in San Antonio, there are a lot of medical professionals that go there, a lot of construction professionals, and a lot of business professionals." Reyna spent years working in the US Army before purchasing his first property. "I was a medic, so we wouldn't really have too much to do unless somebody got hurt. With that downtime, I read so many books about business and real estate and finance," he said. "We didn't have a way to get internet a lot of the time, so I just read anything I could get my hands on." When he was wrapping up his service in 2021, he had about $12,000 in savings, a family to support, and a career to figure out. "I was super concerned about a lot of things," he said. But, as interest rates started to drop to historic lows in 2021, Reyna recognized an opportunity to buy property and start building equity. The knowledge he'd acquired reading "Blue Ocean Strategy" and other books, including "Rich Dad Poor Dad" and "Profit First," helped him turn the idea of buying a home into reality relatively quickly. "I won't say that I was an expert, but I had some confidence," he said. The mindset he developed in the Army also helped him act quickly. "They teach you to make a decision and act on it. I was just thinking, 'This is a now-or-never moment. The interest rates are super low. I know they're going to go back up soon.'" He found a single-family home, financed it with a 0% down VA loan, and locked in a 3% interest rate. He and his family moved in in the spring of 2021. That property is now one of four rentals that he owns. Self-education is one lever you can pull if you're cash-strapped or starting from scratch. "I really just read anything I could get my hands on because I felt like I was so behind and needed to figure out a way to make money for my family," said Reyna. "So that was the fastest thing I could do — just read, read, read, read, read, and try to get caught up on everything." Read the original article on Business Insider Sign in to access your portfolio
