Robert Kiyosaki, the author of the best-selling personal finance book Rich Dad Poor Dad, has shared insights on how the younger generation can survive and thrive amid the current inflationary environment.
According to Kiyosaki, there is a need to learn coping mechanisms at a time when he emphasized that all generations are feeling the weight of rising costs, as he noted in an X post on October 15.
To address this predicament, the celebrity investor drew insights from his experiences growing up when the cost of living and real estate prices were staggering.
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“The good news is the high cost of living growing up in Hawaii caused me to seek a new teacher. <…> I feel for these generations. I empathize. I, too, had the same personal doubts growing up in Hawaii. Real estate and the cost of living are so high in Hawaii. I wonder how young people today survive,” Kiyosaki said.
Kiyosaki emphasized the importance of seeking knowledge to navigate these economic challenges. He suggested that high living costs can be a catalyst for growth, urging young people to find “new teachers.”
The need for teachers
With the advent of social media, Kiyosaki believes resources for financial education are more accessible than ever, encouraging individuals to seek mentors who resonate with them on personal, intellectual, and spiritual levels.
“If you are wondering how you will survive and thrive in today’s high inflation environment. You may want to do what I did. I began seeking new teachers. The good news is social media channels such as YouTube offer you a massive array of teachers,” he added.
Indeed, the financial educator is raising concerns about inflation at a time when the Federal Reserve aims to lower the rate below 2%.
Interestingly, data shared by Global Markets Observer on October 15 indicated that inflation is surging in specific vital areas, such as food.
The platform stated that food prices rose by 0.4% in September, the highest increase since February 2023. To put this into perspective, it reported that five out of six major grocery store food group prices increased. Notably, food prices have increased by 22.5% over the last four years.
Kiyosaki’s concerns about U.S. economy
Kiyosaki has been critical of the United States’ economic outlook, attributing the blame to the Federal Reserve for enacting policies that have contributed to skyrocketing inflation.
Even as Kiyosaki offers advice on navigating the current inflationary environment, he has maintained that investors should anticipate a massive economic collapse that will elevate poverty.
However, he insists that investing in assets like gold, silver, and Bitcoin (BTC) can help preserve wealth in the wake of a crash.
At the same time, with concerns about currency devaluation, Kiyosaki has suggested that Bitcoin’s emergence could lead to the collapse of the United States dollar, citing the asset’s attributes such as fixed supply.
Amid economic concerns and the possibility of a recession, gold and silver have had one of their best-record years, reaching unprecedented levels. As reported by Finbold, Kiyosaki has pointed out that rising gold prices might not be a positive indicator, signaling pessimism among investors.
