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HOW TO CONVERT A LIABILITY INTO AN ASSET - ROBERT KIYOSAKI, Rich Dad Poor Dad

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Description HOW TO CONVERT A LIABILITY INTO AN ASSET - ROBERT KIYOSAKI, Rich Dad Poor Dad

Comments HOW TO CONVERT A LIABILITY INTO AN ASSET - ROBERT KIYOSAKI, Rich Dad Poor Dad

Why does she look like an AI generated character Comment from : Renjith Kumar

i learned so much from your book Rich Dad Poor Dad But i want to get it right, Im from Namibia where many people that owned houses, they build rented bachelors flat in their backyards to generate an income Is that home still a liability or an assets? Comment from : Kaarina Manya

Not applicable in india Comment from : Harsh Thanvi

How you got 18000 to buy home Comment from : Feroz Shaik

What would have happened if his father decided not to have liability like Robert 😂 he takes all things to liability debt and tax free as if he is going to take away all his money after his death 😅 Comment from : shiva m

There is difference between living and non living thing I hate nd oppose your thought of treating human beings as asset, liability It's like treating living beings as non living beings Comment from : Aradya Mahesh

Even though you dont want a job for life Dont you need one in the early stages to start buying assets to start getting you tax free money? Once you own enough you can quit your job and rely on those incomes right? Im looking to sell some things and invest in shares for thr next 10 years plus get a job untill i have enough to start heavily relying on the asset income so much that i dont need a job Comment from : HyperGod86 :3

Even though you dont want a job for life Dont you need one in the early stages to start buying assets to start getting you tax free money? Once you own enough you can quit your job and rely on those incomes right? Im looking to sell some things and invest in shares for thr next 10 years plus get a job untill i have enough to start heavily relying on the asset income so much that i dont need a job Comment from : HyperGod86 :3

If the rate of return is less than the EMI on loan payable, your principle do not work Mostly this is the case Comment from : Thomas Abraham

Parents cannot be liabilities because had they thought on similar lines we wouldn't have come to this world So we need to have insurance to cover those expenses Becoming rich is an art but not at the cost of dear ones Comment from : Naveen Kumar

I believe the alimony situation!😂 Comment from : Stephen Allegra

Your off by 15,000 Comment from : Stephen Allegra

It doesn’t cost 18,000 a month for an Alf Comment from : Stephen Allegra

Being a CA student watching this video ❤ boost your concepts Comment from : AMAD WALI

Thank goodness you brought this up! Truly, investing has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this later in life Currently earn as much as 10 grand weekly and this has improved my financial life Great piece! Comment from : Benjamin Aaron

This is one of the dumbest things I have seen on youtube Thank god they dont teach this in a business school world is saved Comment from : Amit Bajaj

I stayed in a rented house If I purchased house and stayed Is it assest or liability? Comment from : sujeet kumar

You can't compare the value of money with emotions We can't be 100 robotic thinking people We're human I'm not saying don't make money Do make money but not by killing the seeds if human species Let's say everyone started following such rules comparing relations with money and cutting out relationships based on benefits and outcomes There won't be no humanity or loyalty or dignity left Slowly lesser the human you become more cruel person you would be Few might survive and remain good but the number will be way low ! Comment from : Gaurav Kumar

❤❤❤❤❤ Comment from : Lungougin Kipgen

Isn't an asset a liability + equity? Comment from : Firmwarm

As a soon-to-be retiree, keeping my 401k on track after a bumpy 2022 is a high goal I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated Comment from : Equity King

hmmn mortage payment monthly is usually higher than rental income per month how in the world is this good advise? Comment from : Abhay Nair

How to buy house with 1000$? Comment from : 🌸Mood MEDITATION🌸

I mean how the fuck this guy became so rich selling this shitty logic😂brI always here him saying this bs everywhere Comment from : atheism is the way

I love your teaching, kiyosaki sir but considering kids and parents as liabilities isn't good, I don't agree with you with this point, because they are our fundamentals of life and we can't avoid them Comment from : Rishabh Raaj

From the video description, "Your house, 401K and IRA are NOT assets" That alone tells me all I need to know about following his advice There are much better financial teachers out there Comment from : jakethewhale

I need financial ideas for people in poor countries where leverage is not an option since personal loans start at 25 rate Comment from : jlma00

Children came be a investment , because in my older years my kids can help support me if I need it If I am sick, instead of hiring someone they can help me with transportation and care For example One mom and four boys Comment from : Mika Nogueras

How sick is this man? He termed his mother, sister or his family members as liabilities…this kind of attitude will create isolated, depressed and vulnerable society What money can do when no human relationship is around… Comment from : Transformation by Sandhya Jane

Train your family for cash flows Train from the start Comment from : Muhammed Zeeshan Rasheed

Creating wealth and gaining financial freedom isn’t as difficult as lots of people think Through the right information, building wealth and staying financially stable forever is way easy Investing is the only true way to earn a great income and staying wealthy forever Comment from : Brandon James

Everything you said is Bulshit You rich because you buy your bullshit on book and speech Comment from : pembantai koruptor

b*Main Points:*/b br br1 b*Assets vs Liabilities:*/b Robert Kiyosaki discusses the fundamental concept of differentiating between assets and liabilities br - Your house is not necessarily an asset, contrary to common belief br - It depends on how you manage your property to determine whether it's an asset or a liability br br2 b*Financial Education Basics:*/b Kiyosaki emphasizes the importance of financial education and literacy br - Many college graduates lack knowledge about financial statements br - Financial education begins with understanding key terms: income, expense, asset, liability, and cash flow br br3 b*Cash Flow Control:*/b The secret to wealth lies in controlling cash flow br - Kiyosaki explains the cash flow patterns of poor, middle-class, and wealthy individuals br - Being rich isn't solely about education but about effectively managing cash flow br br4 b*House as an Asset:*/b The misconception that a bigger house is an asset is debunked br - A personal residence often takes money from your pocket through expenses like taxes, mortgages, and upkeep br - True assets generate income, while liabilities drain your resources br br5 b*People as Assets and Liabilities:*/b People, including family members, can also be assets or liabilities br - Children are typically considered liabilities due to their expenses br - As people age, family members can become financial liabilities, especially with increasing healthcare costs br brb*Additional Points:*/b br br6 b*Financial Intelligence:*/b Financial IQ is the ability to control cash flow effectively, which isn't taught in traditional education br - College degrees are valuable, but they don't necessarily teach financial literacy br - The cash flow game helps train individuals to understand and manage cash flow br br7 b*Retirement Plans:*/b Kiyosaki highlights the potential drawbacks of traditional retirement plans like 401(k)s and IRAs, which often involve money flowing out rather than in br br8 b*Long-Term Planning:*/b It's crucial to plan for the financial responsibilities associated with aging family members br - Rising healthcare costs and limited insurance coverage can deplete savings quickly br - Having a high financial IQ means preparing for potential liabilities in advance br br9 b*Marriage and Divorce:*/b Kiyosaki mentions how divorce can lead to significant financial liabilities, especially if alimony and child support are involved br br10 b*Focus on Cash Flow:*/b Throughout the discussion, Kiyosaki underscores that the primary focus should be on whether a financial decision increases or decreases cash flow, ultimately determining whether it's an asset or a liability Comment from : Amit Kumar Ghosh

Chutia h sala asneer shark thank aur roadies k baad dimag krb h uska bs ek aim h paise kmana y sbhi k hota but bhai politics is like serving nation and people and i don't think yha dhandhe ki jarurat h Comment from : troll face

Why I didn't discover this man in my teenage Comment from : Omkar Das

I'm still watching videos from five years ago❤brIt motivates me to study English😊 Comment from : YuJl Lee

Once you get rich, even if you talk bullshit it becomes motivational and educational Comment from : M K

Upto 8:40 it was good but after this everything was leading upto an unhappy life 😂 i guess this is the point where you need to know that what to learn and what not to learn Comment from : Aditya Kumar

Rob tryin to rizz shorty up Comment from : Luca Paolini

thats crapwhen u buy a house for renting etc u get an income but u have taxes + mortage + repairs + modifications if needed itMr Robert knows shit and when i said taxes i mean propert taxes- for renting income taxes, and u pay them every year also to buy a house u need money!!!! u need a start up! no the bank wont lent u any money cause u dont have any properties or value so u have to GO TO WORK do u know how many years u need to buy a house?and most ppl l are living in rent houses 15 to 20 years Comment from : BLAKIE DEADMAN

Assets only put money in your pocket when you sell them, also - I love how all of these gurus say a houae only costs you money but at the same time they have multiple mansions Comment from : Arcade Collectors Europe

അതൊക്കെ പോട്ടെ, സാധനം കയ്യിലുണ്ടോ😁 Comment from : Ahammed Ameen PV 2022

Im an accountant and what I want for my future child to study is accounting even though I doesnt want him/her to be an accountant Its really important to study taxes and financials of a company Most probably help him to be an entrepreneur Comment from : Jose Mari Nazarene Vista

But rental income is also taxable right? Comment from : Ankita Ghosh

Paying rent vs paying Mortgage for a house which option to go please answer Comment from : Harshpal Singh

One question people, so when you buy your first house and rent that out, as he explains, where will your own residence be, where will you live in? Would that be a rented house? Thanks :) Comment from : Kia Sh

Stop watching this guy he's gotten too big Comment from : Paul Maddison

Government run only on taxes, if people are cheating, how could poor live?? Comment from : The VIP - UNEMPLOYED

I bought read rich dad poor dad when I was in high school and it put on the road less traveled and I don't regret it Best investment I ever made Comment from : AJ121401 JJ

By making the laws of alimony, the government has made women prostitute indirectly Women are doing it getting the chance How it can be government? Comment from : BanglaBala

this guy be like "ok here is a house - now here is an asset now you just house->asset that is how you do it Comment from : Pedro Soares

But bro I need a place to stay right? Rental takes money out of my pocket too Comment from : copypasta

If you rent it out, after buying a property, where would you live? and if you rented in a different property and for example the property that you rent out, cost the person $1400 a month and the house you cunrenttly rented in cost like $1200 the cash flow is $200 but you also have to pay back the bank the loan from the property that you bought and the price could be like 1000 per month to pay back the mortage or the money you borrow from the bank, so now there is no cash flow What should I do? Comment from : hayabusa vb

This guy is a poor idiot Comment from : elpony

Thanks bud for keeping us financially Educated! Regardless of how bad it gets on the economy I still make over $28K every single week Comment from : James Shaver

What is his "activity" good for? Does he improve anybody's life? Does he create things or art? Does he innovate or discover? Does he harvest or built? Does he educate children and teach them science, literature or math? Does he compete in pro sports? Does he defend his country? Does he generate electricity? Does he hflpmin administration or government? Does he care for the sick snd elderly? Does he help to preserve nature? And finally, does he make himself happy except the fact to have unlimited access to borrowed money?brI might have to read about him in order to gave a better judgement Maybe he does some sort of work or activity that is real and useful So, my complaint is more directed to the interviewers snd video makers This video seems to address just our wish for easy fast money and make use of the obvious flaws of the 'system' and skrew it A teacher is not a fake teacher just because he himself does not apply every little bit of the stuff he teaches I think that hard working people who really help and produce and make our world better or at least endurable and let us all survive are not idios as he is saying Comment from : Linus 6626 Feynstein

Financial Literacy just made simpler The backbone of getting rich is maintaining cash flow Thank you Sir Comment from : Shailesh Malushte

Thank you Robert for providing all these financial education I have a 4 year low mileage sports car I want to sell or trade in for real estate investment I'm doing homework on this now If you can provide any ideas I would greatly appreciate it Thank you my friend 🙏🏻💰💵 Comment from : Christian Lombardo

What nursing home charges $18k a month????? Comment from : Austin

I am not getting what cash flow is he talkingbrIf buying a house for mortgage and rent it outthe emi will be anyways more than rent amount Comment from : Believer

Fico score is important for those who dont have a million or more Comment from : Ray

How can i buy a house with my salary Bankers ask IT returns for loan Comment from : DR KESAV SARMA MAGANTI

Please Donate Send 10 crore money now on bank account Bank account details >> IFSC code : UTIB0000104 >> Account no : 920010063531075 Bank name : Axis bank Comment from : SD

Come on there is not only about house is a liability or a assest it's also about The memories you spent there with your family Isn't it ?? Comment from : kon-kara lines

I think it's low financial IQ to live in a country or state that asks 18 000 a month for taking care of an old person or where college costs something We have also free health care, housing for poor and 70 sponsored child care in Finland plus as an added bonus a low crime rate We can still buy the same Nike stock or invest in apartments with 75 leverage with Euribor +0,5-1 rates Talk about a deal Tax is around 30 but it's nice to know that I take care of my less able fellow man in sickness or old age if I manage to strike gold Comment from : Mikko Kantola

They are missing something somewhere, She have no doubt ❓ Why 😮😊 Comment from : #iamanaswar

I guess his mother is his responsibility, not liability Comment from : hawk hawking

06 percent for me 😂😂😂😂 Comment from : Joanna Stoeva

506 microsoft Comment from : Joanna Stoeva

TLDR: The key idea of the video is that understanding and managing cash flow, as well as recognizing the difference between assets and liabilities, is crucial for financial successbrbr1 00:00 🏠 A house is not always an asset, but can be converted into one depending on how it is used, according to Robert Kiyosaki in his discussion on financial education and literacybr 11 Robert Kiyosaki discusses the misconception that a house is an asset and explains that it can be converted into an asset depending on how it is utilizedbr 12 Financial education and literacy start with understanding the six basic words: income, expense, asset, liability, FICO score, and borrowing moneybrbr2 02:04 💰 The secret to being rich is not a college education, but the ability to control cash flow by managing income, expenses, assets, and liabilitiesbrbrbr3 03:13 💰 Your personal residence is not an asset because it takes money from your pocket, while an investment property that generates cash flow is considered an assetbrbrbr4 04:56 💰 Focus on cash flow when making financial decisions, as assets put money into your pocket while liabilities take money out of your pocketbr 41 Financial intelligence is the ability to control cash flow, and buying a car is a liability unless it generates cash flow, as demonstrated by the example of NFL players who go broke because they can't control their cash flowbr 42 Assets put money into your pocket, liabilities take money out of your pocket, so focus on cash flow when making financial decisionsbrbr5 07:36 💰 Kids are liabilities as they are expensive and get more expensive every year, and as people get older, family members become liabilities as well due to the high cost of long-term healthcarebrbrbr6 09:01 💡 People often overlook the financial impact of family members, who can become liabilities due to medical expenses and insurance issues, emphasizing the need to view them as both assets and liabilities in financial planningbr 61 Many people don't realize that their family members can become liabilities, especially as they age, with medical expenses depleting savings and insurance companies canceling coverage, making it important to consider people as both assets and liabilities in terms of financial planningbr 62 Men who divorced their beautiful wives are now paying a million dollars a year in alimony and child support, which is funding their ex-wives' boyfriendsbrbr7 11:37 💰 Financial IQ is crucial for managing cash flow and solving problems, like covering expenses and taking care of loved ones who may become liabilities, so it's important to consider the number of liabilities before pursuing personal interestsbr 71 Financial IQ is the ability to control cash flow and solve big problems, such as generating enough cash flow to cover expensesbr 72 Cash flow is important to take care of loved ones as they become liabilities, and it is necessary to consider the number of liabilities one has before pursuing personal interestsbrbr8 13:20 💡 Learn and master the concepts of income, expense, asset, liability, and cash flow to gain financial intelligence and control your financial situation Comment from : SBS Bookkeeping

Quran❤ is the best asset in the universe Comment from : Muhammad Adeel

The year is almost over and very glad about the decisions I have made so far Investing in the market earlier this year regardless of the market conditions has saved my life I made over 70k USD with a start of 25k in the last 7 months I know it's nothing compared to what others make but I'm glad I'm changing my finances Comment from : Augusta J

❤ Comment from : Jozsef

🎯🎯🎯 Comment from : Pegruma บริการโลจิสติกส์

Asset is anything you own that has real value It making you money is a business Comment from : F H

By talking too much shit on YouTube , he just has ruined the good vibe of book Settle down mate you just not relevant anymore Comment from : Subhash Chander

And now his own company got bankrupt 😮 Comment from : just another viewer

I admire your teaching method It underscores the necessity for investors to possess a unique advantage Conforming to the market norm falls short; we must maintain optimism and await outcomes, given the unpredictable nature of market shifts Comment from : Invest Tour

This is top tier advice right here! Comment from : Money Prospects

Thank you Robert, you are inspiring Greetings from Turkey 😊 Comment from : ms celik

Passive income is taxable sir Comment from : Molly Finch

Children and the elderly should never be a liability ever! In the richest nation on the planet! Period! Comment from : no

So, what he meant is buy house/apartment to rent out and you live in rent house/apartment If that's what he meant doesn't that mean we still pay taxes for the house we rent out Please Cmiiw Comment from : Sugate Austron

I know it's more beneficial to invest in safe haven assets because profit levels typically drop during these times, but I've been reading news about people who were still able to make large profits of up to $580k during this crash what is the most effective strategy at this time? Comment from : Derrick D Lake

Scenario:brInflation rate 5brHouse increases in value annually by 15brbrHouse is not an asset!? Comment from : تفكر نقاد

Lololol Comment from : LivinTheDream

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them Well, at least my advisor does too, jokingly Comment from : Raul Romero

I mastered life Comment from : Markieta Crockett

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