‘Who is right?’: 'Rich Dad, Poor Dad' author Robert Kiyosaki claimed that being $1.2 billion in debt is better than ‘friend’ Dave Ramsey’s mantra of living debt-free

Precious metals

Precious metals, like gold and silver, are widely favored as safeguards against inflation and economic instability. Kiyosaki agrees with this, acknowledging the U.S. dollar’s disconnection from the gold standard since 1971 during the presidency of Richard Nixon.

In October, Kiyosaki predicted, “Gold will soon break through $2,100 and then take off. You will wish you had bought gold below $2,000. Next stop, gold $3,700.”

Currently, gold is sitting at roughly $2,429 an ounce.

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Who’s right?

If you’re not an expert like Kiyosaki and Ramsey, deciding how to handle debt or what portfolio moves you should make can be a challenging task.

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If you’re unsure about where you fall on the debate between Kiyosaki and Ramsey, it might make sense to get a take from a qualified financial professional.

Kiyosaki often urges his followers on X to be cautious when choosing a financial advisor. Urging people to be cautious of the intentions of their advisors, part of a February post from Kiyosaki reads: “Don’t be a loser. Choose your financial advisors carefully.”

Advisor.com is an online platform that connects individuals with experts to help you understand your current financial situation and guide you towards a thriving financial future.

Through Advisor.com, individuals can be paired with a reputable financial advisor adept at helping you discover the best path forward.

Once you get matched with a financial advisor, you can schedule a free consultation to discuss your goals and see which investment strategy meets your needs.

Managing high-interest debt

While Kiyosaki advocates using debt to acquire assets, it’s important to remember that this approach carries many inherent risks. For example, high-interest credit card debt is not the kind you want hanging over your head, as it can quickly become unmanageable.

If you are buried in this type of debt, an online marketplace called Credible can help you consolidate to tackle it more efficiently.

Credible helps you to find the lowest interest rates on loans up to $100,000. Instead of throwing away your hard-earned money on multiple interest payments, Credible allows you to combine all your debt into one monthly payment, instead of juggling multiple lenders with different interest rates.