Learning from Kiyosaki and Ramsey: A Word of Caution

I appreciate Robert Kiyosaki and Dave Ramsey. I really do. I got my first real education about money from Kiyosaki. If you haven't picked up his classics, like 'Rich Dad Poor Dad' or 'Cashflow Quadrant,' you're missing out. They're great for sparking motivation and raising awareness about financial freedom.

But remember, not all advice suits all situations.

For instance, Kiyosaki wasn't a fan of crypto initially, but now he seems to be advocating it. It's not about right or wrong; it's about perspectives. And let's face it, we all make mistakes.

It could also depend on his personal financial situation or what's currently trending in the market.

Kiyosaki loves 'good debts' because they create cash flow without interest. Sounds great, but does he show how he's winning with his debts? That's something to ponder.

Does he disclose his debts to validate this strategy's financial success? If he does, I stand corrected and would appreciate it if you could point me to that resource to learn together.

The thing is, theory and reality can be vastly different.

Let's talk about Dave Ramsey.

He's done wonders helping people eliminate debt. His advice on saving and avoiding lavish spending is valuable. But is thrifting and saving the only path to wealth? I think there's a more enjoyable way to freedom.

Life is abundant, and money helps us experience it. So, if we're thrifty during our youth, even with extra money later, can it buy back time and experience?

For me, youth is the 40s because my 20s have passed. I'd rather spend money considerately now than have a bigger pile of money in my 60s. By then, I'd have lost 20 years of youth, and there will be things I won't be able to enjoy anymore.

Suppose I'm an adventurous person and my goal is to climb Mount Kilimanjaro. Sure, I could still do it in my 60s, but I'd enjoy it more in my 40s. Spending money on training and expeditions means I'll save less. But with the right plan and strategy, I'll still be well-off in my 60s, just not as much. And that's okay. I want to live fully, be happy, and contribute back.

Sometimes, a picture says a thousand word, right?

I use one of TikTok’s filter to show how I look like when I’m old:

The young folks taught me this: YOLO. You only live once.

 So, what if you could earn to replace the income you're spending?

 Because earning extra income isn't very hard.

In Closing…

When taking advice from financial gurus, it’s important to remember that their guidance comes from their own experiences and perspectives, which might not always align perfectly with your situation. Their insights can be incredibly inspiring and helpful, but it’s worth taking them with a pinch of salt and taking the time to understand what the advice truly means.

By doing this, you can adapt their strategies in a way that works best for you, while staying true to your own goals and values.