Friday, October 12, 2012

Rich Dad, Poor Dad - Bankruptcy Dad

Robert Kiyosaki's Rich Global company filed for Chapter 7 bankruptcy as a result of a judgment obtained by The Learning Annex for $24M. Kiyosaki is the famed author of "Rich Dad, Poor Dad". While many are reporting this in a mocking manner in that Kiyosaki is famed for telling people how to make money, I believe its yet another example of Kiyosaki's message in a positive light.

The message is to separate your assets into different entities that are independent of each other. As a result of Kiyosaki's entity structures, its reported that he is still worth around $80M after the bankruptcy without any of the money being in jeopardy. Now, that is a good benchmark for success.

To read more about Kiyosaki's bankruptcy, go to a great article by by clicking here.