‘I’d Be A Terrible Father’ — Rich Dad Poor Dad’s Robert Kiyosaki And His Wife Made The Decision To Never Have Children, Says Nowadays Kids Are A ‘Bunch Of Snowflakes’ That Couldn’t Handle A Tough Marine Dad Like Him

Robert Kiyosaki, the author renowned for his bestselling book “Rich Dad Poor Dad,” recently shared insights into his personal life and financial strategies during an interview with Vlad TV.

Kiyosaki and his wife have made a deliberate choice not to have children, a decision he openly discusses. The author believes that his background and personal traits would not align with parenthood, admitting, “I’d be a terrible father.”

Kiyosaki, who also has a background as a U.S. Marine, attributes his decision to the tough upbringing he experienced and the realization that his potential parenting style might not be suitable for the current generation. He expressed a concern that his approach might be too harsh, noting the difference in resilience between past generations and what he perceives as “a bunch of snowflakes today.”

Kiyosaki’s military experience profoundly shaped his perspective, as he shared, “I was a pilot in Vietnam. I went to school to kill people. I killed a lot of people. Went to military school. We think differently.” His time in the military, especially as a pilot in Vietnam, instilled in him a mindset focused on survival and discipline and facing harsh realities — traits he feels are lacking in today’s society.

This statement underscores the dramatic contrast between Kiyosaki’s life experiences and the upbringing he believes the current generation is receiving. Kiyosaki’s reflection on his past highlights a broader commentary on the changing nature of resilience and toughness in contemporary culture.

Beyond personal decisions about family life, Kiyosaki also delved into his plans for his wealth posthumously. The financial educator outlined a clear strategy to ensure his wealth continues to serve educational purposes without being diminished by taxes. “We’re going to set up a foundation,” Kiyosaki stated, revealing his intention to channel his accumulated wealth into charitable efforts. He explained the use of Charitable Remainder Trusts (CRTs) as a vehicle for managing his assets, ensuring that upon the death of his wife and himself, the wealth would support the Rich Dad Foundation.

Story continues

Kiyosaki’s approach to wealth management reflects his broader financial philosophy, aiming to minimize tax liabilities and maximize the impact of his wealth. “So we won’t pay any taxes at death either,” he pointed out, emphasizing his strategy to avoid what he sees as a financial burden that typically falls on the middle class.

He has long advocated for leveraging real estate investments as a core component of building wealth, stating he owns over 12,000 properties acquired with debt. His strategy revolves around two principal beliefs: real estate’s ability to generate steady rental income alongside capital appreciation, and the sophisticated use of debt to enhance investment returns while minimizing tax liabilities.

Tax strategy plays a crucial role in Kiyosaki’s approach, as he points out the considerable tax advantages available for real estate investors. These benefits include deductions for operating expenses, property management and depreciation, which can significantly reduce taxable income. By setting up investments strategically, Kiyosaki argues that investors can shield most of their cash flow from taxes, enhancing overall returns​.

Read Next:

“ACTIVE INVESTORS’ SECRET WEAPON” Supercharge Your Stock Market Game with the #1 “news & everything else” trading tool: Benzinga Pro – Click here to start Your 14-Day Trial Now!

Get the latest stock analysis from Benzinga?

This article ‘I’d Be A Terrible Father’ — Rich Dad Poor Dad’s Robert Kiyosaki And His Wife Made The Decision To Never Have Children, Says Nowadays Kids Are A ‘Bunch Of Snowflakes’ That Couldn’t Handle A Tough Marine Dad Like Him originally appeared on Benzinga.com

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.