Personal Finance (now and in the 21st Century)

New watch dates  January 30th 2014 and April 15th 2014


https://www.mint.com/personal-finance-interviews/personal-finance-interview-with-rich-dads-robert-kiyosaki/

An interview with Robert Kyosaki and Personal Finance:



In the U.S., things aren't looking good for the middle class. Life and the goods we need to sustain it are becoming more and more expensive; meanwhile wages have been stagnating for decades, says personal finance guru Robert Kiyosaki. To make matters worse, the housing market -- the one source of increased wealth for many families -- suffered a devastating crash. 

"Today, most middle class families live from paycheck to paycheck, or worse, with very little in savings or invested for retirement," says Kiyosaki. "At this point, the middle class might become the working class in that they'll have to work their whole lives."

But the man behind the bestseller "Rich Dad Poor Dad" adds that there are still plenty of opportunities for those who want to thrive financially. And the key to thriving is financial education and learning how investing works in today's world.

For Robert's advice on making your money work for you and for starting your kids on a track to financial success, read on:https://www.mint.com/personal-finance-interviews/personal-finance-interview-with-rich-dads-robert-kiyosaki/

What's your favorite advice to give people who are struggling with debt?

Understand the difference between good and bad debt. Bad debt is debt that is used for liabilities. Again, a liability is anything that takes money out of your pocket. Good debt is debt that is used to purchase assets, which puts money in your pocket. Those who struggle with debt do so because they often make poor financial decisions to purchase things they can't afford. They take on bad debt constantly. My advice is to pay off your bad debt as quickly as possible and to never go into bad debt again. Instead, use your money to purchase assets rather than liabilities. Those assets will allow you to enjoy the finer things in life later on. Unfortunately, most people don't have the self-control or the patience for this.