When it comes to planning for retirement, one prominent investor is warning people that they must get proactive and cannot ‘bury their head in the sand.’ This comes as the cryptocurrency market and stock market is suffering dramatic drops in value, leaving industry experts and investors unsure about where it is going and where to make an investment.
Indeed, the author of the personal finance book ‘Rich Dad, Poor Dad‘ Robert Kiyosaki and his guests on Rich Dad radio on July 13 discussed the looming retirement crisis facing millions of people around the world. Speaking about millennials, Rich Dad advisor Sarah Singer-Nourie noted they’re into instant gratification and find it with crypto:
“For example they like crypto because they can buy it now and you know for a long time it went up and so they were making all this money and becoming these crypto millionaires and they’re learning hard lessons today.”
In response to the younger generation not seeing or believing the hard lessons until they experience them, Kiyosaki said:
“I think in the baby boom generation they’re out of time, so your generation still has time there’s a very big difference because time is a big factor in this whole thing, so it’s good. The crypto guys are learning it early but the problem with our generation, my generation was we came of age around let’s say 1970.”
He added on the situation in the markets:
“This could be the biggest bust in world history. It’s a global bust; we might have a global depression again.”
Kiyosaki still keen on Bitcoin
According to a tweet from Robert Kiyosaki this week, he is getting ready to profit on the falling prices of property and cryptocurrency. Kiyosaki also feels that other investors can take advantage of the falling prices of assets.
“Favorite 4-letter word is SALE. Asset Bubble found a Pin. Asset prices crashing. In cash position waiting to pick up bargains especially in real estate and Bitcoin. Fed is “F”ed. Do not miss the GREATEST SALE on EARTH,” he added.
Throughout the pandemic, personal financial expert Robert Kiyosaki was heard constantly raising the alarm about a rapidly expanding market bubble. He forecasted a historic collapse, but he presented it as an opportunity to purchase gold, silver, Bitcoin, real estate, and other assets at reduced prices.
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