Mika
Verified member
Well, that’s not me saying it, it is Robert Kiyosaki who says so.
Robert Kiyosaki, an author of Rich Dad Poor Dad, has a company that gives personal financial advice to people and helps them to build financial literacy so that they can manage money and build financial freedom.
When you borrow money, do you pay tax on debt? Well no.
So, when they lend money, that’s how money is created. Therefore, money is debt.
Why is debt tax-free?
Because that’s how money is created
Therefore banks love it, they love when people borrow lots of money.
So, how do you get rich?
The simple answer to getting rich is to borrow money and then buy assets with it. By doing so you will be using money to make money, you are not working for money but your money is working for you. You use your profits to pay back your debt and after some time your assets will be entirely yours.
This is the reason why rich people borrow money despite sitting on a pile of cash.
When people borrow money, they use the money to buy liabilities, when they buy liabilities, they don’t have enough to pay back the debt. That’s how they end up in a debt trap.
Robert Kiyosaki, an author of Rich Dad Poor Dad, has a company that gives personal financial advice to people and helps them to build financial literacy so that they can manage money and build financial freedom.
When you borrow money, do you pay tax on debt? Well no.
So, when they lend money, that’s how money is created. Therefore, money is debt.
Why is debt tax-free?
Because that’s how money is created
Therefore banks love it, they love when people borrow lots of money.
So, how do you get rich?
The simple answer to getting rich is to borrow money and then buy assets with it. By doing so you will be using money to make money, you are not working for money but your money is working for you. You use your profits to pay back your debt and after some time your assets will be entirely yours.
This is the reason why rich people borrow money despite sitting on a pile of cash.
When people borrow money, they use the money to buy liabilities, when they buy liabilities, they don’t have enough to pay back the debt. That’s how they end up in a debt trap.
