Kiyosaki says there are plenty of opportunities to get rich coming.
- Rich Dad, Poor Dad author Robert Kiyosaki warns that the US is in a bubble.
- Kiyosaki recommends investing in gold, silver, and cryptocurrency to hedge against inflation.
- Big crashes create opportunities to buy things on sale and become rich winners.
Robert Kiyosaki, the author of the best-selling book Rich Dad Poor Dad, has warned that the US economy will crash soon. He states that high inflation is a sign of a major crisis for the US economy and that a recession is on the horizon.
In a recent tweet, Kiyosaki said, “Bull Markets make stupid investors look smart. Bear Markets turn the stupid investors into losers and smart investors into winners. Markets are crashing. Time for smart investors to become very rich winners.” Here is what he means by that.
The S&P 500 is in a bear market
The stock market is officially in a bear market. A bear market is when the market has fallen 20% or more from a recent high. Investors are worried about inflation, the Fed raising interest rates, and that the rate hikes will plunge the US into a recession.
Kiyosaki isn’t the only one worried about a recession. Wells Fargo CEO Charles Scharf and Tesla CEO Elon Musk believe the US economy is headed for a downturn. JP Morgan CEO Jamie Dimon believes the risk of the US economy heading into a recession is rising.
“Inflation goes up and the average American doesn’t have $1,000…So when inflation goes up we’re going to wipe out 50% of the US population,” Kiyosaki warns. The only thing Kiyosaki states that America is producing are “bubbles” and the real estate market, the stock market, and the bond market are bubbles. As a result, those in retirement who are relying on their 401(k)s may be exposed to too much risk and according to Kiyosaki, are “toast.”
How smart investors can become very rich winners
Kiyosaki recommends that gold, silver, and Bitcoin are the ways to hedge against inflation. When it comes to cryptocurrency, Kiyosaki believes the high national debt will cause the US dollar to implode. Owning Bitcoin, Ethereum, and Solana could help you protect yourself. Bitcoin has also taken a beating from the Fed’s recent rate hikes.
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According to Kiyosaki, this is great news. “As stated in previous Tweets I am waiting for Bitcoin to crash to 20k. Will then wait for test of bottom which might be $17k. Once I know bottom is in I back up the truck. Crashes are best times to get rich.”
To Kiyosaki, big declines create opportunities to become rich. As he says, “The good thing about a bubble is when they burst, everything goes on sale.” Smart investors don’t panic or get emotional when prices drop. They are patient and wait to buy the dip. Kiyosaki states that during the financial crisis of 2008, he started “buying real estate at bargain prices,” and now owns “over 12,000 rental units.” It was a smart move given how much real estate prices have gone up since 2008.
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