Recently, The New York Post reported that author Robert Kiyosaki’s company Rich Global LLC has filed for Chapter 7 bankruptcy. This seems to be a great example of setting aside feelings of embarrassment, shame or fear, in favor of making a smart business decision.
Perhaps you’ve read his books about building personal wealth. Maybe you’ve seen him speak on PBS or even in a live seminar. Regardless, most of us have heard of the book Rich Dad, Poor Dad. It’s a book that uses a fictional example of two different ‘dads’ to compare how different spending habits affect our potential to build financial security and wealth.
So how can a financial guru file bankruptcy and not tarnish his reputation as a financial guru to millions? At first it sounds impossible. But when you learn that he filed the Chapter 7 bankruptcy to protect the remainder of his assets from a judgment creditor, it makes perfect sense. He is taking advantage of the rules in bankruptcy because he can. And, because he is more concerned with making a smart choice than being embarrassed. I encourage my clients to embrace this exact mentality.
When a client is considering filing a Chapter 7 bankruptcy, the question shouldn’t be will my neighbors find out (Probably not), or will this haunt me forever (No, it won’t). You certainly won’t show up in the news and in hundreds of headlines like Kiyosaki has. Instead, the question we ask ourselves should be simple and clear:
Is bankruptcy the best thing for me and my family right now?
With the help of a Charlotte Bankruptcy Attorney who understand bankruptcy, you can sort through your options. Let’s strive to be like Rich Dad, Poor Dad author Robert Kiyosaki. When it comes to considering bankruptcy, let’s place our important concern for our long-term financial well-being over our temporary and self-induced emotional discomfort.
Email me HERE or call me today at 704.749.7747 for a free phone consultation. I look forward to helping you protect your assets and start down the path to building them again.