Rich Dad, Poor Dad author is deeply in debt, again

guru said:
Not in the sense that it's made to look. It's not like he owes $1.2B and cannot pay it back. He may be worth $2B and borrow $1.2B, while everyone is discussing it like he's bankrupt.
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I didn't see "bankrupt" anywhere. Debt is debt. Debt is distinct from insolvency, although it can go hand in hand in the wrong hands. newwurldmn got it right.
 
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guru said:
Not in the sense that it's made to look. It's not like he owes $1.2B and cannot pay it back. He may be worth $2B and borrow $1.2B, while everyone is discussing it like he's bankrupt.
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The article itself is pretty bad. My understanding is after reading the discussion on reddit, that his leveraged investments mostly are in real estate and since interest is going up and rental is going down, he is in a pickle.
 
Pekelo said:
The article itself is pretty bad. My understanding is after reading the discussion on reddit, that his leveraged investments mostly are in real estate and since interest is going up and rental is going down, he is in a pickle.
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Possibly & presumably. I was just pointing that reading between the lines he might've tried to make a point about debt not being bad, specifcally talking about "debt philosophy":
From the article: "He said many people use debt to buy liabilities, while he uses debt to purchase assets. His approach involves using debt strategically to enhance wealth. Kiyosaki categorizes debt into good debt and bad debt, with good debt being that which helps build wealth, such as loans used for acquiring income-generating assets like real estate, businesses or investments."

So it may be just a discussion about debt, which is a topic of tons of discussions and helps him market himself, while Reddit assuming he is in trouble.
 
guru said:
You seriously haven't read the first sentence of the original post here?
What are we even discussing?
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The bankruptcy mentioned was in 2012, and perhaps implies as possible pattern forming. We are discussing the here and now. I cannot comment on the veracity of the piece, I'm only commenting on the comments. If, as Pekelo surmised, he is overleveraged, then he is indeed "deeply in debt" by definition. I just found the comment about "not an actual debt" puzzling.
 
guru said:
So it may be just a discussion about debt, which is a topic of tons of discussions and helps him market himself, while Reddit assuming he is in trouble.
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After a quick googling, his net worth was estimated to be 100 MM a few months ago. So carrying 1.2 B debt with high interest on 100 MM net worth. Sounds to me chapter 11.
 
Pekelo said:
After a quick googling, his net worth was estimated to be 100 MM a few months ago. So carrying 1.2 B debt with high interest on 100 MM net worth. Sounds to me chapter 11.
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I suspect much of what he says is full of shit, both about his net worth and his debt. He and Trump had so much to talk about, they wrote a couple of books together. Should have been just one chapter. 11.
 
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