Amid his continuous warnings of an upcoming financial crash, Robert Kiyosaki, a renowned investor, entrepreneur, and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ has revealed an asset he believes is perfect for the “ultimate tax-free” income strategy.
Indeed, discussing how the rich strategically increase their income while reducing their tax obligations, Kiyosaki shared an anecdote about the former United States President Donald Trump’s reply to Hillary Clinton during the 2016 debate, in a recent episode of his The Rich Dad podcast premiered on August 28.
Trump’s tax-free income strategy
As a reminder, Clinton accused her opponent in the presidential race at the time of not paying taxes, to which Trump told her, “That means I’m smart,” causing outrage among his critics worldwide and accusations that he intentionally avoided paying obligations to his country.
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However, Kiyosaki opined that Trump’s approach was a form of financial intelligence that savvy entrepreneurs use to their benefit, pointing out that most of his wealth comes from his businesses and real estate, making for the ultimate tax-free income strategy:
“Trump earns most of his money as an entrepreneur, and he’s a real-estate guy.”
Kiyosaki’s tax-free income strategy
Furthermore, he addressed the income strategy that he shares with his wife, Kim Kiyosaki, which generally involves having “most of our money in real estate, then we save gold, silver, Bitcoin (BTC), and other commodities,” but particularly highlighting real estate for avoiding taxation:
“Real estate is, in my opinion, the best income, especially if you don’t want to pay taxes.”
That said, Kiyosaki has recently also shared his views on the differences between real estate and the maiden cryptocurrency, Bitcoin, arguing that the latter was better in terms of flexibility, as he could sell it at any moment if he realizes “there’s a hot new coin coming along,” which was not the case with the former.
Featured image via Cavaleria Com YouTube
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