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Rich Dad' Author Tells Millennials: "Savers Are Losers"





As recently reported by CNBC, one of our true heros and a leader in financial education, Robert Kiyosaki, the author of financial best-seller “Rich Dad Poor Dad” has some unusual advice for millennials in his new book: Saving is for losers.

“You cannot follow your parents’ rules of money,” said Robert Kiyosaki, who this year published a new book, Second Chance: For Your Money, Your Life and Our World. “The old rules were you go to school, you get a job, you work hard, you save money and you invest for the long term in the stock market.”

But now, he says, the rules are now reversed. “Savers are losers. And many parents are still telling their kids to save money,” he told CNBC. “Why would you save money when every central bank is printing money?”
Indeed, Kiyosaki said he isn’t saving money. “When I was a millennial, I could get 15 percent interest on my money. Today, I’m lucky to get one percent,” he said. “I’m a debtor. I borrow because I’m in real estate. So I’m getting money at 2.5 percent. I just recently refinanced $300 million at 2.5 percent. So debtors are winning and savers are losing.”



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