'The biggest crash in history': Robert Kiyosaki warns that millions of 401(k)s and IRAs will be 'toast' — says there's 'no time to play Russian Roulette.' Here's what he likes for protection

‘The most important crash in historical past’: Robert Kiyosaki warns that tens of millions of 401(ok)s and IRAs will probably be ‘toast’ — says there’s ‘no time to play Russian Roulette.’ Here is what he likes for defense

The U.S. inventory market has made a robust restoration in 2023, with the S&P 500 surging 23% yr up to now. Nonetheless, “Wealthy Dad Poor Dad” creator Robert Kiyosaki is sounding the alarm about potential risks forward.

“Financial institution Credit score simply offered off like 2008. Get some money out of banks as you want money,” he mentioned in a recent post on X, previously generally known as Twitter. “This can be the beginning of the largest crash in historical past. Hope I’m unsuitable but no time to play Russian Roulette together with your life.”

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In another X post, the creator referred to his 1997 e book’s predictions, which later got here to fruition.

“Please bear in mind my warning in Wealthy Dad Poor Dad printed in 1997 predicting ‘Savers are losers’ and ‘Your property just isn’t an asset’ which got here true in 2008,” he wrote. “Look ahead to my subsequent warning. The S & P is subsequent which is able to toast tens of millions of 401ks and IRAs.”

Given the in depth publicity many individuals should the inventory market via their retirement financial savings, a extreme downturn within the S&P 500 could possibly be devastating. Throughout the market sell-off in 2022, CBS News reported that 401(ok) and IRA plan individuals skilled an estimated lack of round $3 trillion.

Regardless of these ominous predictions, Kiyosaki has provided some recommendation for navigating the potential disaster.

“Purchase gold, silver, Bitcoin whilst you nonetheless can,” he prompt.

Let’s take a fast take a look at this trio of property.

Gold and silver

Valuable metals — significantly gold and silver — have lengthy been thought-about a popular hedge against inflation. The reason being easy: They will’t be printed out of skinny air like fiat cash.

Kiyosaki has lengthy been a fan of gold and first bought the yellow metallic in 1972. He has defined prior to now it’s as a result of he doesn’t “belief” the Federal Reserve, which controls the availability of cash.

In October, he predicted, “Gold will quickly break via $2,100 after which take off. You’ll want you had purchased gold under $2,000. Subsequent cease gold $3,700.”

Kiyosaki likes silver, too. “Silver from $23 to $68 an oz.,” he mentioned, projecting main upside for the grey metallic.

The worth of gold has climbed about 11% in 2023, whereas silver has remained comparatively unchanged.

At this time, there are many ways to gain exposure to gold and silver, however Kiyosaki prefers to simply purchase the metals instantly. “I don’t contact paper gold or silver ETFs. I solely need actual gold or silver cash,” he wrote final yr.

Learn extra: Thousands and thousands of People are in large debt within the face of rising charges. Here is how to get your head above water ASAP


The world’s largest cryptocurrency is making a comeback and is now up 150% in 2023.

However traders mustn’t overlook simply how unstable it may be.

In November 2021, bitcoin reached a excessive of $68,990. At this time, it’s hovering round $41,400.

Kiyosaki, nonetheless, doesn’t appear bothered by the huge swings.

When the digital foreign money was testing $30,000 in October, he predicted, “Subsequent cease Bitcoin $135,000.”

If Kiyosaki is true in his prediction, it might suggest an upside of 227% from the place the cryptocurrency sits at this time.

It’s very simple to purchase bitcoin lately. There are numerous on-line exchanges, brokers and even ATMs to buy from. Be warned, they’ll cost as much as 4% in fee charges, so search for ones that cost low and even zero commissions.

What to learn subsequent

This text offers info solely and shouldn’t be construed as recommendation. It’s supplied with out guarantee of any type.

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