HOW TO CONVERT A LIABILITY INTO AN ASSET - ROBERT KIYOSAKI, Rich Dad Poor Dad

As a soon-to-be retiree, keeping my 401k on track after a bumpy 2022 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.

hmmn. mortage payment monthly is usually higher than rental income per month. how in the world is this good advise?

The house thing is completely nonsense. I need a shelter to live in. Let's say I bought a house and rented it out. I'm still paying my own rent and paying bills for the flowers in the garden which I never like. If the rent income that you make is lower then your current rent then it's better to live in the house/apartment that you bought. Thus you can save money for your shelter need and then you can reinvest your saved money into something else.

How to buy house with 1000$?

I mean how the fuck this guy became so rich selling this shitty logic😂...
I always here him saying this bs everywhere

He's wrong about the 2nd part like family stuff is not a burden I'll back my statement with logic that why it's wrong it's because when you have more kids you can teach them this asset part in there early life I know this will cost a bit more but your not gonna have 10 kinda in a year that's still gonna be affordable that's like a long term investment which is better then short term and not living that family life when you should and a fact is that the older you get the capability to produce sperm and fertilize your eggs is really low at a age it's no longer there think at least one of them will become Richer with your better teaching in early life and would be able to produce more like him and take care of family etc cause he would be Soo rich and mature that rather then spending on some BS expensive car he would spend it on his family cause he'll know the value and understanding of money and cash flow other wise if you die with property for no one to live behind for that means you worked all that for some whom you are not even related to and big family is a sign of happiness and more chances of success and with proper mind set to be relieved what you left won't be wasted on some random greedy people at least someone in your family will carry that on with the same value as you did for your whole family that means he would se his family as liability due to more cash flow then expenses and won't have to go through hard decisions like old age etc and lose that bond and family love that he has cause he has the money and batter cash flow and sence of family value amd one more thing marriage and that divorces thing and that stupidity tha she takes the half is not a thing in islam so if she gotta enjoy that she has to be with you with a value as mother of your child and a house care taker so we Muslims have a win win situation and solution for everything due to our religion thaugh us by our creator ALLAH ☺️

I love your teaching, kiyosaki sir but considering kids and parents as liabilities isn't good, I don't agree with you with this point, because they are our fundamentals of life and we can't avoid them

From the video description, "Your house, 401K and IRA are NOT assets." That alone tells me all I need to know about following his advice. There are much better financial teachers out there.

Did he really have to use the example of the husband and wife divorcing and now has to pay alimony for her and her boyfriends? For someone priding themselves on teaching millennials financial EQ, he's also promoting sterotyping sexism.

I need financial ideas for people in poor countries where leverage is not an option since personal loans start at 25% rate

Children came be a investment , because in my older years my kids can help support me if I need it. If I am sick, instead of hiring someone they can help me with transportation and care. For example One mom and four boys

How sick is this man? He termed his mother, sister or his family members as liabilities…this kind of attitude will create isolated, depressed and vulnerable society. What money can do when no human relationship is around…

Train your family for cash flows. Train from the start .. .. .. .. ..

Creating wealth and gaining financial freedom isn’t as difficult as lots of people think. Through the right information, building wealth and staying financially stable forever is way easy. Investing is the only true way to earn a great income and staying wealthy forever..

Everything you said is Bulshit. You rich because you buy your bullshit on book and speech.

*Main Points:*

1. *Assets vs. Liabilities:* Robert Kiyosaki discusses the fundamental concept of differentiating between assets and liabilities.
- Your house is not necessarily an asset, contrary to common belief.
- It depends on how you manage your property to determine whether it's an asset or a liability.

2. *Financial Education Basics:* Kiyosaki emphasizes the importance of financial education and literacy.
- Many college graduates lack knowledge about financial statements.
- Financial education begins with understanding key terms: income, expense, asset, liability, and cash flow.

3. *Cash Flow Control:* The secret to wealth lies in controlling cash flow.
- Kiyosaki explains the cash flow patterns of poor, middle-class, and wealthy individuals.
- Being rich isn't solely about education but about effectively managing cash flow.

4. *House as an Asset:* The misconception that a bigger house is an asset is debunked.
- A personal residence often takes money from your pocket through expenses like taxes, mortgages, and upkeep.
- True assets generate income, while liabilities drain your resources.

5. *People as Assets and Liabilities:* People, including family members, can also be assets or liabilities.
- Children are typically considered liabilities due to their expenses.
- As people age, family members can become financial liabilities, especially with increasing healthcare costs.

*Additional Points:*

6. *Financial Intelligence:* Financial IQ is the ability to control cash flow effectively, which isn't taught in traditional education.
- College degrees are valuable, but they don't necessarily teach financial literacy.
- The cash flow game helps train individuals to understand and manage cash flow.

7. *Retirement Plans:* Kiyosaki highlights the potential drawbacks of traditional retirement plans like 401(k)s and IRAs, which often involve money flowing out rather than in.

8. *Long-Term Planning:* It's crucial to plan for the financial responsibilities associated with aging family members.
- Rising healthcare costs and limited insurance coverage can deplete savings quickly.
- Having a high financial IQ means preparing for potential liabilities in advance.

9. *Marriage and Divorce:* Kiyosaki mentions how divorce can lead to significant financial liabilities, especially if alimony and child support are involved.

10. *Focus on Cash Flow:* Throughout the discussion, Kiyosaki underscores that the primary focus should be on whether a financial decision increases or decreases cash flow, ultimately determining whether it's an asset or a liability.

Chutia h sala asneer shark thank aur roadies k baad dimag krb h uska bs ek aim h paise kmana y sbhi k hota but bhai politics is like serving nation and people and i don't think yha dhandhe ki jarurat h

Why I didn't discover this man in my teenage

I'm still watching videos from five years ago.❤
It motivates me to study English.😊

Once you get rich, even if you talk bullshit it becomes motivational and educational.

Rob tryin to rizz shorty up

thats crap.....when u buy a house for renting etc u get an income but u have taxes + mortage + repairs + modifications if needed it......Mr Robert knows shit. and when i said taxes i mean propert taxes- for renting income taxes, and u pay them every year. also to buy a house u need money!!!! u need a start up! no the bank wont lent u any money cause u dont have any properties or value . so u have to GO TO WORK. do u know how many years u need to buy a house?and most ppl l are living in rent houses. 15 to 20 years.

Assets only put money in your pocket when you sell them, also - I love how all of these gurus say a houae only costs you money but at the same time they have multiple mansions.

അതൊക്കെ പോട്ടെ, സാധനം കയ്യിലുണ്ടോ😁

Im an accountant and what I want for my future child to study is accounting even though I doesnt want him/her to be an accountant. Its really important to study taxes and financials of a company. Most probably help him to be an entrepreneur

But rental income is also taxable right?

Paying rent vs paying Mortgage for a house which option to go .. please answer

One question people, so when you buy your first house and rent that out, as he explains, where will your own residence be, where will you live in? Would that be a rented house? Thanks :)

Stop watching this guy he's gotten too big

Government run only on taxes, if people are cheating, how could poor live??

I bought read rich dad poor dad when I was in high school and it put on the road less traveled and I don't regret it. Best investment I ever made

By making the laws of alimony, the government has made women prostitute indirectly. Women are doing it getting the chance. How it can be government?

this guy be like "ok here is a house - now here is an asset.. now you just house->asset.. that is how you do it..

But bro I need a place to stay right? Rental takes money out of my pocket too.

If you rent it out, after buying a property, where would you live? and if you rented in a different property and for example the property that you rent out, cost the person $1400 a month and the house you cunrenttly rented in cost like $1200 the cash flow is $200 but you also have to pay back the bank the loan from the property that you bought and the price could be like 1000 per month to pay back the mortage or the money you borrow from the bank, so now there is no cash flow. What should I do?

This guy is a poor idiot

Everyone here talks about assets but no one is talking about where you''ll get money to buy those assets ?
If i buy an asset ( house ) by taking a loan from the bank then even if I generate rental income through the house, I'll be repaying the loan for a decade or two through that income. How is it benefitting me ?

Thanks bud for keeping us financially Educated! Regardless of how bad it gets on the economy I still make over $28K every single week

What is his "activity" good for? Does he improve anybody's life? Does he create things or art? Does he innovate or discover? Does he harvest or built? Does he educate children and teach them science, literature or math? Does he compete in pro sports? Does he defend his country? Does he generate electricity? Does he hflpmin administration or government? Does he care for the sick snd elderly? Does he help to preserve nature? And finally, does he make himself happy except the fact to have unlimited access to borrowed money?
I might have to read about him in order to gave a better judgement. Maybe he does some sort of work or activity that is real and useful. So, my complaint is more directed to the interviewers snd video makers. This video seems to address just our wish for easy fast money and make use of the obvious flaws of the 'system' and skrew it. A teacher is not a fake teacher just because he himself does not apply every little bit of the stuff he teaches. I think that hard working people who really help and produce and make our world better or at least endurable and let us all survive are not idios as he is saying.

Financial Literacy just made simpler. The backbone of getting rich is maintaining cash flow. Thank you Sir.

Thank you Robert for providing all these financial education. I have a 4 year low mileage sports car I want to sell or trade in for real estate investment. I'm doing homework on this now. If you can provide any ideas I would greatly appreciate it. Thank you my friend 🙏🏻💰💵

What nursing home charges $18k a month?????

We arenting a house at the moment . Planing to buy house for ourselfs . What would be better in this situation to by a house for business purposes and keep renting where we live now or buy our own house and then think of buying house for bussiness to create passive income ?
2 of us working full time , but we want create passive income and become financial free ? Any advice?

I am not getting what cash flow is he talking.
If buying a house for mortgage and rent it out...the emi will be anyways more than rent amount.

Fico score is important for those who dont have a million or more.

How can i buy a house with my salary. Bankers ask IT returns for loan.

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