Robert Kiyosaki, the renowned investor and author of the bestseller "Rich Dad Poor Dad," known for his predictions of impending financial crises, has now changed his stance and communicated via X that the market crash is already underway. Kiyosaki has reported that the crash will be "ugly," but he emphasizes that these periods are also "the best time to get rich." Opportunities, he says, "will emerge."
In his latest post, he listed his rules to remember during this turbulent period.
1 Don't Invest in All Declining Assets
While the market is in turmoil, Robert Kiyosaki advises patience and warns against greed. According to the author, this is the time to stay calm and not get caught up in the frenzy of buying discounted assets. "Just because prices are falling, don't become greedy," Kiyosaki advises. "Wait until prices have bottomed out and no one wants the asset you desire."
For example, at the end of March, the investor reminded that the value of silver was well below its all-time high, calling it the best deal. For Kiyosaki, it's not "just a precious metal," but also "an industrial metal and a strategic metal," as its demand is expected to grow due to ongoing wars worldwide.
2 Study
The investor has always emphasized the importance of financial education, especially during times of crisis. He also recommends YouTube as a "great source of both real and fake teachers," as well as "investing time to get into the heads of teachers."
In the past, he warned that the lack of financial education in the United States was the country's main threat. He also criticized traditional teachers, calling them bureaucrats. According to the investor, they lack the skills to teach their students finance and economics.
3 New Friends
In addition to financial education, the investor offered another piece of advice to his followers: "seek out new friends who are on the same path as you." According to Kiyosaki, it is essential to avoid people who take on a victim mentality and "blame others for their problems," as well as Marxists, who "expect the government to solve their problems."
In the past, he also referred to the current government of the United States, led by President Joe Biden, as "Marxist," arguing that its policies, such as increasing property taxes and rent controls, would damage the economy and the real estate market.
4 Start a Side Business
The investor also recommends having "a business of your own," as artificial intelligence (AI) "will wipe out millions of jobs." For this reason, he recommends starting a small business and becoming an entrepreneur instead of being an "employee afraid of losing their job."
Kiyosaki argues that a side business can "provide income while the economy collapses, stock markets fail, pensions collapse, and unemployment rises." It could even "become the next Amazon or Bitcoin."
5 Choose Great Teachers
Continuing his discussion on the importance of financial education, the investor urges his followers to choose their teachers carefully, as there are plenty on YouTube. "YouTube has an abundance of teachers, some good, many bad," Kiyosaki says. He also suggested some names to follow, including Ken McElroy for real estate, Tom Wheelwright for tax strategy, John MacGregor for stocks, and Mike Mauceli for oil, adding: "Be careful who influences your mind, your attitude, and your spirit."
6 Don't Save
Finally, Kiyosaki advises not to put savings into "fake money" or fiat currencies like the US dollar, the euro, the yen, or the peso, as they "depreciate." Instead, he suggests investing "in gold, silver, and Bitcoin," in other words, in money he defines as "real," as it appreciates in value, especially in the event of a market crash.
In the past, the investor reported that wealthy people usually "save gold, silver, and Bitcoin," while "the poor and the middle class want jobs that promise a fixed salary but offer no security."
Conclusion
Robert Kiyosaki has long warned of a possible financial collapse, especially in the United States, where the "fake" dollar is eroding global dominance. But only time will tell if his predictions will come true or not.