Episode Details
Back to EpisodesSavers Are Losers. Debtors Are Winners.
Description
#212: Really? Yes. I unpackage it all.
In fact, these are the words of the Top-Selling Personal Finance Author Of All-Time, Robert Kiyosaki.
*[Complete transcript far below - you can follow along]*
Look, I have no savings account. I own no stocks, bonds, mutual funds, nor ETFs. I have no plans to pay off my home, though I could.
Instead, it's about durable passive cash flow.
Either you can be conventional, or you can be wealthy. Pick one.
I tell you how savers can be losers and debtors can be winners. Inflation amplifies this notion.
Keep a high velocity of money. You wouldn't tolerate a lazy employee, so why tolerate lazy money?
Then I discuss how high real estate prices and higher interest rates will affect you.
More Americans believe renting is cheaper than owning their own home.
I tell you why your ROTI increases throughout your life.
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Listen to this week's show and learn:
03:30 Convention says: "Save money and pay off your house before retirement."
06:20 I have millions in debt.
08:46 How savers can be losers and debtors can be winners.
10:41 Inflation.
13:10 Debt and equity.
18:04 Mortgage rates should rise 1% in the next year - how this affects you.
23:08 How higher rates affect your tenant.
25:48 Today, more people think it's wiser to rent than own their own home.
30:31 National homeownership rate.
31:06 Return On Time Invested.
Resources mentioned:
WSJ: Renting Cheaper Than Owning
Mortgage Loans: RidgeLendingGroup.com
Cash Flow Banking: ProducersWealth.com
Turnkey RE: NoradaRealEstate.com
QRP: TotalControlFinancial.com
Find Properties: GREturnkey.com
GRE Book: GetRichEducation.com/Book
Complete transcript:
Welcome to Get Rich Education. I'm your host Keith Weinhold. "Savers Are Losers. Debtors Are Winners." Could that be true? Well, that's a quote from none other than the Greatest Selling Financial Author Of All-Time. We're going to break that down.
and...
What do higher interest rates mean to your future as an investor? Today, on Get Rich Education.
Hey, welcome to Get Rich Education, I'm your host Keith Weinhold.
Savers are losers. Debtors are winners.
Really, how can something that sounds so absurd to most people - be true?
Well, those are actually the words of the Greatest-Selling Personal Finance Author Of All-Time - Robert Kiyosaki.
Let's unpackage this paradox, "Savers Are Losers, Debtors Are Winners."
Now, one n