Robert Kiyosaki doesn’t pay taxes during his life

Robert Kiyosaki doesn’t pay taxes during his life.  In this installment of Millennial Money, Robert put forth his opinion that the self-employed are working for tips.  A real estate agent gets 6% . . . Robert tips his waiter 20%.  Who’s more valuable he asks?

By investing in real estate with other people’s money, you have no money in the deal so you are making an infinite return . . . and paying no taxes due to depreciation and other related expenses.

. . . or after he dies either

Robert Kiyosaki doesn’t pay taxes after he dies either.  Robert’s assets are held in a Charitable Remainder Trust (CRT).  A CRT is  an irrevocable trust that generates an income stream for the Grantor and/or other Beneficiaries.  The remainder of the donated assets go to designated charities.

With perspectives on money and investing that often contradict conventional wisdom, Robert has earned an international reputation for straight talk, irreverence, and courage and has become a passionate and outspoken advocate for financial education.  The “Millennial Money” series of videos seeks to provide young people with some important economic concepts that they didn’t learn in school.

Previous episodes of “Millennial Money”

• How Debt Can Generate Income
• The Biggest Mistake Young People Make
• How to Convert a Liability into an Asset
• Getting a Job is for Losers
• This is Keeping You Poor
• The Future of Our Economy
  

(This is Blog Post #554)

Robert Kiyosaki is best known as the author of Rich Dad Poor Dad—the #1 personal finance book of all time—Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. He is an entrepreneur, educator, and investor.  He believes that each of us has the power to makes changes in our lives, take control of our financial future, and live the rich life we deserve.  For more information, visit www.richdad.com.