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Tarun Suthar
•
The Institute of Chartered Accountants of India • 1y
Have you read the book "Rich Dad, Poor Dad" written by "Robert Kiyosaki" . he is a genius. He admitted to having more than $1.2 billion in debt 🤯. you might have watched his yt Shorts claiming that. He views this debt as a strategic move and a part of his financial philosophy, which differentiates between assets and liabilities. he uses debt to purchase assets rather than liabilities. 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. Middle class man buys loan for the liabilities like purchasing a home or a car. but he takes loan to buy assets eg. a real estate and income from that is used to pay for the interest. Next post will be on how to take decision while buying an assets and some calculation. as a CA student its helps a lot.
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