Robert Kiyosaki, Rich Dad, Poor Dad, Says 'Only Lazy People Use Their Own Money' – If You Want To Be Rich, Use 'Other People's Money'

Chances are you've heard of Robert Kiyosaki, the outspoken personal finance guru famous for his blockbuster book, Rich Dad Poor Dad. Kiyosaki’s contrarian philosophy about money and wealth-building – ideas that fly in the face of conventional wisdom – catapulted him into the financial stratosphere. He champions a concept Central to his approach: OPM or Other People's Money.

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In an Instagram video from September 2023, Kiyosaki drove this point home with the caption: "Only lazy people use their own money. The key to financial success is to leverage OPM wisely. Use it to invest, create assets and build wealth. It's not about how much money you make but how effectively you use other people's money to make it work for you." A bold claim, for sure, but this isn't just bluster – Kiyosaki's entire financial philosophy is built on leveraging OPM to turbocharge wealth creation.

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In the video, he recalls a saying from his rich dad: "Only lazy people use their own money." This might sound a bit cheeky, but this kind of wit gets people thinking. Kiyosaki argues that the wealthy don't just hoard cash; they use other people's resources to amplify their financial potential.

So how does this work? Simply put, using OPM is one of the richest strategies employed to accelerate wealth-building, as his site explains. Rather than relying on your savings alone, think bigger. For example, with $20,000 of your own money, you could buy a mere $20,000 in stocks. But if you leverage that as a down payment on a rental property worth $200,000, you control a much more valuable asset, generating significantly higher income. It's about stretching your dollar further by using borrowed capital to snag bigger opportunities.

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Kiyosaki elaborates on this concept on his website, emphasizing that "by understanding how to make money using other people's money," anyone can leap from employee to business owner or professional investor. He's candid about his financial reality, famously stating that he is a "billionaire in debt." This self-description isn't just for show; it highlights his strategy of using debt as a tool for growth rather than a burden.

In a world where many still cling to the traditional "save and invest" mindset, Kiyosaki's philosophy may seem unconventional, if not downright risky. Yet, this willingness to leverage OPM has helped countless individuals rethink their approach to wealth. 

So, the next time you're hesitant to take on debt, remember Kiyosaki's words: being lazy with your money could be the biggest mistake of your financial life. Embrace OPM and who knows? You might just find yourself on the path to financial freedom. It's always a good idea to consult a financial advisor to review the best strategy for your goals. 

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