This video was recorded during a private meeting at the Rich Dad offices. Rich Dad Advisor on Taxes, Tom Wheelwright and Rich Dad Advisor on Real Estate Ken McElroy shared how the rich use debt and taxes to get richer.
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Debt and taxes are two of the most important tools used by the wealthy to increase their wealth. Robert Kiyosaki, author of the best-selling book Rich Dad Poor Dad, has long been an advocate of using debt and taxes to get richer.
Kiyosaki believes that debt and taxes can be used to create wealth. He advocates using debt to purchase assets that will increase in value over time, such as real estate or stocks. By leveraging debt, the wealthy can purchase more assets than they could otherwise afford. As the value of these assets increases, so does the wealth of the investor.
Kiyosaki also believes that taxes can be used to increase wealth. He advocates for taking advantage of tax deductions, credits, and other strategies to reduce the amount of taxes paid. By reducing the amount of taxes paid, the wealthy can keep more of their money and reinvest it in assets that will increase in value.
Kiyosaki also believes that debt and taxes can be used to protect wealth. He advocates for using debt to purchase assets that generate income, such as rental properties. This income can be used to pay down the debt, allowing the wealthy to keep more of their money and use it to invest in other assets. Additionally, Kiyosaki believes that by taking advantage of tax deductions and credits, the wealthy can reduce the amount of taxes paid, allowing them to keep more of their money and reinvest it.
Kiyosaki’s advice is simple: use debt and taxes to get richer. By leveraging debt to purchase assets that increase in value and taking advantage of tax deductions and credits, the wealthy can increase their wealth and protect it.
00:00:00 – How the System Works
00:07:52 – Affordable Housing: The Real Estate Story
00:16:39 – Real Estate: Debt Management, Financing
00:21:04 – The Value of a Cash Out Refi
00:27:42 – The Fed's mandate for higher taxes
00:33:29 – Trump on Rich People Cheating on Their Taxes
00:39:26 – Robert and Kenny: Compounding Their Tax Benefits
00:39:56 – Don't Trust Your Asset
00:44:03 – In the Elevator With Robert Kaplan
00:49:22 – How is Cash Flow Being Valued?
Most of the Cryptos are down at the moment and now is a very good time to invest in them. The market is experiencing a fierce correction and now is the best time to stack up on those cryptos.
I really enjoy the variety of comments.
It’s with the help of a pro trade analyst. I just invest what I saved aside from my income into the market while he handles my trades. Mr Sam Deymon is the brain behind my success.
All I can advice you now is to save up money, i can only thank Mr Sam Deymon for that. You should have enough capital to start with.
Mr Sam’s 4 week course is very well done. Even if your knowledge about technical analysis and the market is extensive, you will still learn new things. He is extremely good at explaining concepts and has the ability to explain complicated notions in a simple matter.
We are already in the big crash , inflation is a catastrophe. This CPI report is a colossal failure. To bring the housing market to a halt,the FED will have to pull all the stops . The unfortunate issues is that the other market are being decimated. If you want to stay green ,you have to rely on a lot of diversification.
Currently up 15% and being carful. Still a better deal than leaving it in a savings or checking account yielding 0-1 percent interest.
We never see any journeys but we hear a lot of talk
Show us some properties that you buy
Thanks bud for keepin us financially Educated! Regardless of how bad it gets on the economy, I still make over $22,000 every single week.
Gibt es in den USA keine Kapitalertragssteuer? Die bekommen doch nicht von den Assets (Investiertes Geld zb. in Wohnungen/Aktien) Geld ohne dafür steuern zu bezahlen oder? Das EK bekommen sie zurück ohne es zu versteuern ja aber alles darüber (der gewinn) muss doch versteuert werden – auch wenn der gewinn durch eine Refinanzierung (Wohnungsvermietung zb.) Zustande kommt der sich aus mehr "dept" zusammensetzt oder nicht?
This guy is terrible at presenting-put Richard on. This guy jumps from topic to topic without following through on a single thought. Never completed how to finance the new construction. Poor presenter-all over the board. Get Richard back up on stage.
24:49
The art of taking something super simple that could be explained in 5 minutes, and making it so complicated that no one understands after 50minutes. Proceed to sell the course
Thankyou …☺
We are already in the big crash , inflation is a catastrophe. This CPI report is a colossal failure. To bring the housing market to a halt,the FED will have to pull all the stops . The unfortunate issues is that the other market are being decimated. If you want to stay green ,you have to rely on a lot of diversification.
Currently up 15% and being carful. Still a better deal than leaving it in a savings or checking account yielding 0-1 percent interest.
Fortunately, I had a college economics teacher that taught me a lesson at 18. That lesson was: for every purchase you make, you can't buy something else. Varied sources of income is wise and especially living within your means. Think about taxes and how you get your income. I made $72k combined net last year and paid no Federal taxes.
$$$ MANIPULATION. Lol
Please explan :
Lets say A (30yrs) wants to be in a business of real estate , so he shortlosted 2 landend properties (costed 5 million dollars) to start with but he has only 1% of the money.
Now he visited bank to have a loan , The question for all big guns Would he get loan ?
Lets say Yes he got somehow (that all big guns need to explain) person A bought 2 properties and did some renovation to make things apealing.
Bank has to get EMI of the loan given from A person. Now how does A get benefit from the properties to pay Emi and his own money.
A person can rent the properties or resale on hiegger price ? what do you think what would have happen to earn more and pay to bank ??
Your lecture is only valid if if and only if you property produce more than the payment to bank.
Now the point is where is the real answer – should A person not invested in the properties which prduce less than the emi to bank or do you suggest anything to make earnings better to pay off emi and to have surplus amount ????
but what about paying back to bank ???
Bank paid a debt , and you invested in building or any other building or anything.
What about payin gback to bank
My trading journey was a matriculation of highs and lows, literally just like the market. you up, you down. Now I'm constantly up>
I would be retiring or working less in 5 years and I just want to know best how people split their pay, how much of it goes into savings, spendings or investments. I earn around $165K per year but nothing to show for it yet.
I give thanks ! Awesome video! Jam packed with great information!
Here is the problem… When we were taught to pay off debt, we bought many things, house, car, motorcycle, and the list goes on! I now know how to really use debt but the $83K I have in debt now is for toys! I know if I would have used the debt properly, I could be wealthy now, and still have those toys but, I did it backwards! Here is the kicker, I don't even own a house! I do own land, but not a house! I am also 54 years young which means, I have a ton of work to do if I want a retirement of any kind! Sure wish I would have learned this decades ago….. I once was an Employee and am now a Business owner but I don't have employee's. Damn, I am really in the dumb school of thought. smdh
i like it until the minute 30
Really good fundamentals!! congrats to the team
DRONES'
Tom Wheelwright really knows how to simplify complicated things, I'm going to start and follow this guy. Ken McElroy is still ok. Robert is the worse in the explaining and not forgetting his gold prediction is constantly incorrect.