ROBERT KIYOSAKI VS DAVE RAMSEY
WHICH FINANCIAL APPROACH IS RIGHT?
As technology expands, new interpretations that govern financial planning spread like wildfire. It seems a new idea comes to fruition almost daily, each one claiming to know the best ways to manage your money and build wealth. But many new ideas actually boil down to two familiar concepts that are philosophically different but have been perpetuated for decades. You can either leverage debt to invest in growth assets or eliminate debt to free up cash flow. Each approach has its celebrity grandfather, both claiming their system will help you live a life of financial freedom. The family-oriented wisdom of Dave Ramsey preaches financial best practices for those looking to “live a life like no one else.” He details fundamental ideas that everyone needs to know to understand money — budgeting, growth plans, investment accounts, etc. — but at the center of his methodology is ridding yourself of debt. Followers of Ramsey’s method often call his show to give their “debt-free scream,” celebrating the peace they’ve found after being free of financial burdens. Tactics like the debt snowball, emergency fund, and eliminating the use of credit help thousands of people every year find success with their money. On the polar opposite end of the equation, Robert Kiyosaki informs his followers that debt is not a four-letter word. In fact, he explains Americans should use debt as much as possible to build wealth. The concept of “Other People’s Money” (OPM) is a way for you to eliminate the risk of using hard-earned cash to build wealth, and Kiyosaki says the best place to start is in real estate. Using minimal funds and mostly loans, investment properties and partnerships in businesses can be purchased to build your own empire. The central principle he focuses on is cash flow, stating that as long as your money is in a tangible asset proven to appreciate, such as a home, the debt associated with those assets does not matter; only the monthly recurring revenue matters. Ramsey plans for retirement through Roth IRAs, and Kiyosaki believes cash flow is all you need for your future, but who is right? The answer is more convoluted than you might think and ultimately revolves around your investment goals. Give us a call today and let us help you find the right path for your future. DAVE RAMSEY ROBERT KIYOSAKI
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BUTTERY ROASTED CHESTNUTS
INGREDIENTS
Inspired by Bon Appétit
• 2 pounds fresh chestnuts, unpeeled • 2–3 sprigs rosemary • 1/2 cup unsalted butter, melted • 2 teaspoons kosher salt, or more to taste
• Pinch of freshly ground nutmeg • Freshly ground black pepper, to taste
DIRECTIONS
1. Heat oven to 450 F. 2. Place a large sheet of foil on a rimmed baking sheet.
3. On a large, flat workspace, place chestnuts flat side down. Using a sharp knife, carve an X on the rounded side of each chestnut. 4. In a large bowl of hot water, soak chestnuts for 1 minute. 5. Pat dry and transfer to a medium bowl. Add rosemary, butter, salt, pepper, and nutmeg. Toss to coat and transfer to baking sheet. Arrange in a single layer. Gather the edges of the foil together, leaving an opening at the top.
6. Roast until peels curl up, about 30–45 minutes. 7. Transfer to a platter and serve while hot or warm.
PATRIOT WEALTH | 919.322.4113 | P3
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