Robert Kiyosaki just said we're already in a 'technical depression' — he's using these 3 assets to protect himself (2024)

FAQs

What assets does Robert Kiyosaki suggest? ›

Gold and silver

They can't be printed out of thin air like fiat money and their value is largely unaffected by economic events around the world. Kiyosaki has long been a fan of gold — he first purchased the yellow metal in 1972.

Robert Kiyosaki #robertkiyosaki #money #income.

Very simply, the rich don't work for money in the form of income like employees do. Rather, the rich invest their money in assets that put more money in their pockets, such as real estate, stocks, bonds, notes, and intellectual property.

#29 “Often, the more money you make, the more money you spend; that's why more money doesn't make you rich – assets make you rich.” #30 “The faster you can make a decision the more likely you'll be able to seize opportunities—before someone else does.” #31 “Losers are people who are afraid of losing.”

Kiyosaki recommends investing in gold, silver, and cryptocurrency to hedge against inflation. Big crashes create opportunities to buy things on sale and become rich winners.

Gold and silver

They can't be printed out of thin air like fiat money and their value is largely unaffected by economic events around the world. Kiyosaki has long been a fan of gold — he first purchased the yellow metal in 1972.

The first step is to earn enough money to cover your basic needs, with some left over for saving. The second step is to manage your spending so that you can maximize your savings. The third step is to invest your money in a variety of different assets so that it's properly diversified for the long haul.

To summarize, money has taken many forms through the ages, but money consistently has three functions: store of value, unit of account, and medium of exchange.

The Functions of Money

Money serves three basic functions. By definition, it is a medium of exchange. It also serves as a unit of account and as a store of value—as the “mack” did in Lompoc.

He tweeted, "Three guiding principles about money: keep money and emotions separate; eliminate debt; and be grateful for what you have."

Is a house an asset or liability? ›

Given the financial definitions of asset and liability, a home still falls into the asset category. Therefore, it's always important to think of your home and your mortgage as two separate entities (an asset and a liability, respectively).

“I believe that one key to success is to accept truth – no matter how it's spoken.” “Quitting is the easiest thing to do.” “Inside every problem lies an opportunity.” “Face your fears and doubts, and new worlds will open to you.”

Rich mindset seeks to spend their time, resources, and energy on work that continues to pay off long after the effort has been invested. Rich mindset is all about getting a flywheel spinning. Building momentum.

In a tweet on April 21, he declared his love for the world's largest cryptocurrency, citing its independence from government and central bank control as one of its primary strengths. Kiyosaki's tweet reminisces about the time when Bitcoin first hit $20,000 and then subsequently crashed to zero.

In a recent Rich Dad Radio show, the famous author revealed that he bought 60 bitcoins at $6,000 per coin. He also previously said he bought some more BTC at $9,000. Kiyosaki has recommended bitcoin alongside gold and silver for quite some time.

The author has been a vocal supporter of cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Kiyosaki believes that cryptocurrencies have the potential to challenge traditional banking systems and provide a decentralized alternative to fiat currency.

Therefore, net worth can be comprised of liquid savings, stocks, mutual funds, bonds, real estate, vehicles, retirement accounts (IRAs, pensions), and many other types of assets.

Golden Rule: “He who has the gold makes the rules.”

Spend it on the 'best buy for future security'

Is a furniture an asset? ›

Furniture and fixtures are larger items of movable equipment that are used to furnish an office. Examples are bookcases, chairs, desks, filing cabinets, and tables. This is a commonly-used fixed asset classification that is categorized as a long-term asset on an organization's balance sheet.

Your attitude is your greatest asset and can make up for gaps in your expertise, skills, and knowledge while growing in those areas. Make sure that you're intentional in keeping your attitude strong and contagious in a good way.

“Mutual funds with monthly income, savings accounts with high interest, fixed deposits, property and dividend-paying stocks are some examples of income generating assets,” according to Nathan. It is important to differentiate income-generating assets from non-productive assets.

The Four Fundamental Rules of Personal Finance

Spend less than you make. Spend way less than you make, and save the rest. Earn more money. Make your money earn more money.

There are three uses of money, as a medium of exchange, a unit of account and a store of value.

American Entrepreneur and acclaimed motivational speaker and author Jim Rohn once said: “Time is more valuable than money. You can get more money, but you cannot get more time.” This is a concept that I feel many people would agree with.

Money allows us to meet our basic needs—to buy food and shelter and pay for healthcare. Meeting these needs is essential, and if we don't have enough money to do so, our personal wellbeing and the wellbeing of the community as a whole suffers greatly.

Warren Buffett once said, “The first rule of an investment is don't lose [money]. And the second rule of an investment is don't forget the first rule. And that's all the rules there are.”

What age is best to inherit money? ›

If your will does not provide for a contingent trust, then your heirs will have full control over their inheritance upon their reaching the age of majority (age 18). Most understand that it is rare to find an 18 year old who is sufficiently mature to be given unfettered access to an inheritance.

In most instances, it's most beneficial for your children to inherit a Roth IRA. This is because you already paid the taxes on your contributions, meaning that they don't have to worry about paying any income tax when they inherit and liquidate your account.

When you're inheriting either cash or stocks, one isn't better or worse than the other. Each offers benefits. Having money in hand upon a family member's death means the ability to use it immediately for any purpose. However, there's also the risk of quickly running out of the entire inheritance.

While your loan is a liability, as you pay it down over time, that part gets smaller. Once you pay off your loan, you'll own your car free and clear, and you can count it as an asset.

A car is a depreciating asset that loses value over time but retains some worth. Because you can convert a vehicle to cash, it can be defined as an asset.

Credit cards are a liability and not an asset, as the money on the card is not yours and this credit line does not increase your net worth.

Andrew Carnegie, one of the wealthiest entrepreneurs of all time, once said that 90% of all millionaires. become so through owning real estate.

“90% of all millionaires become so through owning real estate.” This famous quote from Andrew Carnegie, one of the wealthiest entrepreneurs of all time, is just as relevant today as it was more than a century ago. Some of the most successful entrepreneurs in the world have built their wealth through real estate.

The BRRRR method is a real estate investing strategy that involves buying properties, renting them out, and then selling them. The BRRRR method was created by Robert Kiyosaki in his book “Rich Dad Poor Dad” and is used by many real estate investors today.

What is the key message in Rich Dad Poor Dad? ›

The overarching theme of Rich Dad Poor Dad is how to use money as a tool for wealth development. It destroys the myth that the rich are born rich, explains why your personal residence may not really be an asset, describes the real difference between an asset and a liability, and much more.

A poverty mentality is one that influences behaviors consistent with beliefs that money shouldn't be spent, opportunities are limited, any risk at all is dangerous, any success is temporary and non-replicable, and generally remaining in the back of the pack is safest.

You can have depression regardless of how much money you have or make. Although money makes some aspects of life easier, there are other factors that play into mental health and well-being. The wealthy can get depressed the same way people living in poverty can experience depression.

In a nutshell, assets are income-generating items that increase in value over time. The only way a house can be an asset is if it generates income after all expenses are paid. On the other hand, liabilities are items that decrease in value over time, which will cost you more in the long-run.