Robert Kiyosaki, author of ‘Rich Dad Poor Dad’, is one of the most widely-recognized voices in personal finance.
Although he made his fortune through book sales, courses, and real estate, Kiyosaki is a noted crypto bull — having frequently hailed digital assets as a better alternative to fiat currencies. While it did benefit from the current bull run, Kiyosaki’s cryptocurrency-heavy portfolio netted an impressive 76.03% return in 2024.
In early February, Kiyosaki doubled down on his favorite assets — stating that he had bought more gold and Bitcoin (BTC), and opined that owning the two was a smarter and safer choice when compared to saving dollars.
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He also happens to be quite the outspoken commentator — frequently sharing his takes on the markets and the state of the U.S. economy on social media. Most of the author’s predictions tend to be quite grim — and his latest one is no exception.
Kiyosaki is quite concerned that the world may be entering a new economic downturn — one he deems the ‘Greater Depression’. The financial educator took to social media platform X in a February 8 post to warn investors and counsel them on how they can benefit from the new, challenging environment.
Robert Kiyosaki urges readers to invest in precious metals, BTC, real estate
The author shared a grim outlook — one in which millions will lose their jobs, stocks, and homes. Kiyosaki started by stating that markets are crashing — although it is unclear what exactly he is referring to in that instance.
Furthermore, he opined that those who followed his advice in the years preceding this unseen crash stand to do well in the downturn. The advice in question, in true Kiyosaki fashion, was to invest in hedge assets — precious metals such as silver and gold, and cryptocurrencies such as Bitcoin.
In addition, he recommended investing in real estate once prices drop — and urged readers to acquire Ken McElroy’s book on the subject. Finally, he noted that not all real estate will do well in the crash — stating that office buildings and small retail spaces will provide the worst performance.
Why investors shouldn’t be worried about Kiyosaki’s prediction
However, a closer look at things reveals several ultimately comforting errors and inconsistencies in Robert Kiyosaki’s latest prediction.
For one, ‘Rich Dad’s Prophecy’ was not published in 2014 — it was published in 2002. A reprint edition, however, was published in October of 2013. Secondly, the crash predicted in the book was supposed to take place around 2016, as Baby Boomers began retiring en masse.
Then, there’s the issue of the financial educator’s track record. Kiyosaki has (unsuccessfully) predicted numerous market crashes. Most recently, in 2020, he did so after a pullback had already occurred. In 2022, the author provided another bold crash prediction that failed to materialize.
While it should be noted that Kiyosaki’s warnings sometimes coincide with dips in the major indices, none of those dips have ever reached the extent of what can be called a crash.
Featured image via Ben Shapiro’s YouTube
