Depends what interest, contingencies and on other information to understand if 1.2B debt is a problem or not. Otherwise, for most UHNW people, debt is just a number on a balance sheet.
PaulHoule•54m ago
I can't picture people being "shocked" by this. Kiyosaki always said you should be aggressive about using leverage.
perrygeo•42m ago
What's ironic is that the book goes to great lengths to explain this. The entire point of the book is: use leverage to grow assets.
The alternative, not taking debt and using income to directly pay expenses, is literally called out as the "cash flow pattern of a poor person"!
Agree with his financial strategy or not, it's very clear that accumulating debt was part of the plan, not some failing of the plan.
drop_star•41m ago
The "debt" are the mortgages on multiple properties from the real-estate investing firm he's part of.
No need for concern he's still very wealthy.
paulpauper•38m ago
this is misleading. it's debt like a mortgage, not as in that he is literally broke.
rasengan•1h ago
PaulHoule•54m ago
perrygeo•42m ago
The alternative, not taking debt and using income to directly pay expenses, is literally called out as the "cash flow pattern of a poor person"!
Agree with his financial strategy or not, it's very clear that accumulating debt was part of the plan, not some failing of the plan.
drop_star•41m ago
No need for concern he's still very wealthy.