Why do you keep saving money when they keep printing money?
They tell you to go to school, study hard, get a job, work hard, pay your taxes, save money, get out of debt and invest in the stock market. You’ve been hypnotized to work hard and save your money but that’s bullshit. They keep telling you to get out of debt but that’s even more stupid.
In 1971, President Nixon got us off the gold standard so they could print money at will. So why would you save money when all they do is print it? If you save your money in the bank, they take that money and lend it out to 10X more people at crazy interest rates. I posit therefore that saving your money is making the bank richer and devaluing your money tenfold.
What should a savvy investor do? TAKE AS MUCH DEBT AS POSSIBLE and use it to buy assets that generate cash flow. Once you do that, you won’t even have to pay taxes because they can’t charge you interest on debt that you owe to the same people that print the fucking money.
I contend therefore that village elders should go to their near bank and borrow a few millions. Use that debt to buy some real estate, a cash flowing business (negative or positive), or any asset that makes money.
Additionally, I also contend that buying stocks is “stupid” for small time investors (unless you’re a trader). Tesla/Apple/FAANG won’t make YOU money faster than you would if you own a cash-flowing business (using the debt that you took from the bank). Instead, you’ll be hoping that the stock goes up significantly. Dumping 5M on Tesla today won’t make you money! Buying an apartment/business that gives you 15k a year using somebody else’s money makes a lot more sense. The bank is also likely to negotiate with you if you start having difficulties paying up because if you don’t pay up then they also go down. If you call a bank you’re indebted to asking for an appointment, you’ll get it immediately. Try doing that if you have a million of your own money in that same bank and you’ll find yourself waiting for a week or two.
3 lessons:
Accumulate debt
Buy cash-flowing Assets (not a house that you live in and certainly not a car that you drive)
Alternative theory. Get in where you fit in. Every person’s circumstances are unique. One person’s key out of the matrix could spell doom for another.
If you want to escape the matrix, you must have a custom made approach to your unique situation.
There is a reason why your type of cookie cutter advice doesn’t work. It fails to consider each person’s circumstances.
For example, how will a peasant earning 500 bob per day get a loan from the bank to buy properties?? If that person makes the mistake of borrowing money, he will only access credit from predatory lenders at insane rates.
Another example. Don’t buy a house. Dude, if you have kids to raise, you need the house. If covid taught me anything its that a family man without a house and some liquidity is fucked. Watu walihama estate hadi nikashangaa. Sure. You don’t need a mansion to survive. But even a bungalow is enough to shield you from homelessness during hard times especially if you have kids to raise. Kumbuka your friends and relatives can contribute a sack of maize mkule but nobody will accommodate you and your army at their house. For a family man, a basic house is critical for survivability. Accommodation is the hardest basic need to outsource.
There are too many moving parts in each person’s life for your kind of basic advice to make sense.
It’s not plagiarism. It’s common sense! All you need is a brain. Smart people often make the same observations and come to the same conclusions. Quote me against Kiyosaki word for word. Millions of people consistently say the same things I have using almost the same lingo.
I agree with you that there’s no one size fits all BUT the simplest path (simple in that eventually you’ll get there if you follow it) to wealth is crystal clear: take debt, use that debt to generate cash flow, and consequently lower your taxes!
{of course you can also use other ways to become wealthy but those ones are more luck-based. What I suggest is proven}
My perspective is American based but there’s no reason why it wouldn’t work in Kenya.
Even if it didn’t, the cost of production is lower in Kenya so you actually don’t need a lot of debt. A little debt + your money can go further into creating cash flowing business models.
It’s far easier to put up a flat in Nairobi than in America because the former only requires $200k. You need $1m minimum to even think about constructing a flat in America.
Even so, I’m not a fan of investing in Kenya. I want my investments to be 2 hours away from me by plane, minimum.
Nigga just picked stuff from Kiyosaki.Not to disregard the content of the information.Actually makes a lot of sense.As you rightly put it,most of the financial books are written with an American mindset but either way they are very helpful.Financial literacy is not taught in school and we have to learn it the hard way mostly.Most of the Kenyans purporting to coach about the same are just content creators masquerading as Financial Coaches after just reading a few pages of financial books.
I am not an expert and neither am I a birrionea but I would say the only way an average man with an average IQ and average job can escape the matrix is by being diligent, disciplined, and frugal.
Part of that is taking on smart debt and acquiring cash-generating assets. The average broke guy doesn’t have access to generational wealth. However, he can build towards becoming credit worthy to banks.
How so? Even a job that pays 15k a month over a year or two would qualify one for a 500k loan at a bank!! Even better, it’s possible to acquire 3 times the ordinary debt he would have gotten from a bank in a SACCO.
My opinion is that wage slaves should GEAR TOWARDS BECOMING CREDIT WORTHY enough to access DEBT. That’s my opinion.
My stance is from basic common sense. You don’t need to read Rich Dad Poor Dad to figure out how to build wealth. Simple observation and some reasoning will get you to the same conclusion.
I will outline a guideline on how to know if you are an unsuspecting participant and facilitator to ongoing scams as designed by the owners of the world farm. Here we go:-
You are formally educated possibly to university level,
You have a formal job where you draw a regular salary,
You are married with kids,
You regularly attend church and tithe religiously,
You are tax compliant with a tax clearance certificate,
You have a certificate of good conduct,
You have a clearance certificate from EACC,
You are a member of a professional institute in good standing,
You are not listed on any CRB service as a defaulter,
You live in the city.
Brathe kama you tick most of the boxes above, jua tuu kuna vile the hegemony wamekubeba malenge ni vile hujui bado.
The point is that they can build towards it. Like I mentioned, it’s quite simple. It’s the first step - becoming credit worthy. However little you make, it’s possible to access 500k at a minimum.