Famed author of “Rich Dad, Poor Dad” Robert Kiyosaki recently discussed in a YouTube video how he managed to get a $4.5 million by paying just $450,000. Though the housing market has somewhat leveled out since previous years, it’s not to the point where someone could offer 10% of the asking price. Below is how Kiyosaki bought a multimillion dollar house for a fraction of the price.
Also here are Kiyosaki’s best lessons for building wealth.
How Was Kiyosaki Able To Buy the House?
Kiyosaki said that he was able to pay for the $4.5 million because of his gold investments. “The house was $4.5 million, but because I saved gold coins, I only paid $450 [thousand] for the gold, but over the years it went to $4.5 [million],” Kiyosai said. The price of gold has risen so much, that what Kiyosaki once paid $450,000 for is now worth $4.5 million.
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Why Is the Price of Gold Rising So Much?
According to CNN, the price of gold is now more than $4,000 per ounce. That’s the highest it has been since 1979. CNN cited concerns about the economy, inflation, tariffs and the recent government shutdown all as reasons for why more consumers are turning to gold. Because gold doesn’t have a direct tie to the U.S. government, more people are purchasing it as a safeguard against inflation and other economic turmoil.
How Can I Buy Gold?
There are lots of ways to purchase gold and other precious metals to diversify your investment portfolio. The method depends on how much you want to buy, how much you want to spend and where you want to keep it. Here are some places you can purchase gold.
Online Dealers
Many companies online will simplify the process so you can just click what you want and pay right then and there. Some might even offer storage solutions so you don’t have to keep track of your metals yourself.
Stores Near You
If you want to buy gold immediately, you can head to stores like Walmart and Costco. This is great if you plan on keeping the gold in your home or want to buy some as a gift for someone else.
A Broker-Dealer
Perhaps you’re already working with a professional who buys and sells stocks for you. Sometimes broker-dealers also sell metals. This way you can purchase gold from someone you already have a relationship with.
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This article originally appeared on GOBankingRates.com: How Robert Kiyosaki Bought a $4.5M Home for $450K — and How You Can, Too
