All rich people use borrowed funds to the maximum extent possible. Their own liquid assets are kept carefully away from risk.
Kiyosaki also came up the counterintuitive but blindingly obvious observation: "Why are you saving money when they are printing it?"
The old conservative advice to "save your way to prosperity" just isn't possible under a government as stupid as ours.
Maybe I read an older version of is books but he mentioned nothing of even requiring back up funds and went straight to “get lots of loans and debt, and throw in renters.”
Sounds great and super easy. Until..... No more evictions are allowed thanks to “covid.” The “no document” loans are gone. And the democrats are introducing bills that basically take over the rental market.
Like I said. Maybe I had an old revision before the sub prime crash when everyone thought they’d “get rich quick” through real estate.
We are in complete agreement that our government is completely stupid. Even though PMs have a horrible record I’m buying everything I can whole keeping my buffer of ‘cash’ to pay the bills. As a self employed business owner cash is still king and gets results. Every investment I have ever made, except one, has been a failure thanks to government interference. They still haven’t figured out how to legislate away my skills and education. But they’re working on it and they did their best to shut me down with kung flu lock downs.