Japanese-American businessman and “Rich Dad Poor Dad” author Robert Kiyosaki is warning that the biggest bubble in history will destroy baby boomers’ retirement savings because they are the “the first generation with flimsy 401(k)s.”
Robert Kiyosaki: This Is the No. 1 Asset Everyone Can Afford
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Posting on X (formerly Twitter), Kiyosaki addressed a potential economic crash:
BABY BOOMERS BUST. Tragically biggest bubble in history will wipe out baby boomers because Boomers are the first generation with flimsy 401ks. Stock market set to crash. Time to get real is now. Buy real assets: gold, silver, Bitcoin before the biggest bubble in history goes…
— Robert Kiyosaki (@theRealKiyosaki) March 11, 2024
“BABY BOOMERS BUST. Tragically biggest bubble in history will wipe out baby boomers because Boomers are the first generation with flimsy 401ks. Stock market set to crash. Time to get real is now. Buy real assets: gold, silver, Bitcoin before the biggest bubble in history goes bust,” he wrote.
Not one to shy away from histrionics, Kiyosaki “is not entirely off base when it comes to the precarious state of baby boomers’ retirement savings,” according to Benzinga.
Back in 2022, researchers at the Center for Retirement Research at Boston College found retirees with pension plans tend to draw down their finances more slowly than those who rely solely on 401(k). The study suggested new retirees are at serious risk of outliving their retirement savings by the time they turn 85.
Kiyosaki’s investment strategy is based on acquiring assets that generate cash flow rather than accumulating liabilities. So, building assets and physical commodities like real estate, gold and silver. More recently, the investor and financial education advocate has been touting Bitcoin over fiat currency, predicting a growth of $100,000 by June and $300,000 by the end of the year, per Bitcoin.com.
A vocal critic of the current government administration, Kiyosaki has been bullish on buying and promoting gold, silver and cryptocurrency as protection against the current erosion of wealth and weakening of the U.S. dollar. Should you jump on board?
Here’s what Kiyosaki has to say about his preferred assets:
Gold and Silver
According to Kiyosaki,…
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