Robert Kiyosaki, a best-selling author and seasoned investor, has a distinct philosophy on debt and investment. In a Nov. 30 Instagram reel, Kiyosaki elaborated on his debt philosophy, highlighting a critical distinction between assets and liabilities. He said many people use debt to buy liabilities, while he uses debt to purchase assets. To illustrate his approach, Kiyosaki said his luxury vehicles, like a Ferrari and a Rolls Royce, are fully paid off, categorizing them as liabilities rather th
  • Thrashy@lemmy.world
    28·
    10 months ago

    For a second, I thought maybe he was engaging in the popular tax avoidance strategy where you keep your investments in stocks, and then rather than sell them for liquid cash and pay capital gains tax, you take out low rate, interest-only loans using the value of the stock as collateral. It’s the sort of bullshit loophole available to the billionaire class to avoid paying their share of tax…

    …but no, guy’s just leveraged up to his eyeballs in real estate and gold-buggery, and has the audacity to claim to be a finance guru.

    • macrocephalic@lemmy.world
      11·
      10 months ago

      Doesn’t believe in fiat currencies because they’re not real, but is all in on Bitcoin.

      Old man going senile.

            • Inucune@lemmy.world
              31·
              10 months ago

              I can just sell all my btc, start a new one(lemmicoin? Smuckbucks?), and start the grift over again.the first guy out the door as London bridge falls makes the most.

            • NotMyOldRedditName@lemmy.world
              1·
              10 months ago

              For others…

              If there are a maximum of 3000 coins and 2999 have been minted, and then instead of minting the last one, you mint 0.00000001

              The total is still less than 3000. It’s 2999.00000001

              You didn’t dilute the 3000 total, there isn’t 3000.00000001

              This would require a hard fork to implement in Bitcoin, but it would follow the rules of never having more than 21 million coins.

              For this to even be worth considering, BTC would have to have immense value to make altering the final halving worthwhile.

                • NotMyOldRedditName@lemmy.world
                  1·
                  10 months ago

                  Some might not understand that, but I think OP was talking about the 21 million limit not being a limit as I described. You said its limited, he said its infinitely divisible. The only way its infinite is if its hard forked as I described, otherwise there’s a hard limit of no division smaller than 1 Satoshi.

        • stoly@lemmy.world
          25·
          10 months ago

          You may have those reversed. BTC has a computational limit but countries can print as many bills as they like.

            • SCB@lemmy.world
              11·
              10 months ago

              There’s no cap to how much USD can be made, so noatter how much you have saved, it can be diluted down to nothing with enough time

              This is a good thing, for many reasons.