At a time when the stock market is experiencing a massive downturn with lingering concerns about a recession, author Robert Kiyosaki has warned that a crash may have arrived.
According to the author of ‘Rich Dad Poor Dad’, the long-anticipated stock market crash he predicted over a decade ago has finally arrived, he said in an X post on March 8.
In his view, Kiyosaki believes this financial downturn could devastate the futures of millions, particularly baby boomers who rely on modern retirement plans like 401(k)s and IRAs.
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Kiyosaki’s projection dates back to his 2014 book, ‘Rich Dad’s Prophecy’, where he foresaw what he described as “the biggest stock market crash” still looming on the horizon. Now, he asserts that this catastrophic event is unfolding, with potentially dire consequences for an entire generation.
Central to Kiyosaki’s argument is the distinction between two types of pension plans: Defined Benefit (DB) and Defined Contribution (DC).
He highlighted that United States baby boomers are the first generation to predominantly depend on DC plans, such as 401(k)s and IRAs, unlike their World War II-era predecessors, who benefited from DB plans.
“Unfortunately, that crash has arrived….possibly wiping out the futures of millions of baby boomers worldwide. U.S. baby boomers are the first generation with a 401k and IRA….aka…..Defined Contribution Pension plans,” the author stated.
Drivers of market crash
The investor explained that the key difference lies in their resilience during a market crash, which he previously cautioned might morph into a “Greater Depression.”
Additionally, the financial educator blamed several factors, including the education system—which he believes lacks meaningful financial literacy—Wall Street, which thrives on uninformed investors, and a gullible public misled by corrupt financial and political powers.
“The problem is our educational system….lacking in credible financial education, Wall Street which counts on “stupid” investors, and a public gullible enough to believe their academic education will keep them safe in the real world of corrupt and criminal “banksters” who influence “naive” political leaders, will keep them safe in a world, if mega money….massive campaign contributions….to deceive the “financially naive” public,” Kiyosaki added.
Notably, this is not the first time the investor has warned of an impending market crash. While he has maintained a bearish stance on the economy, some of his past predictions have failed, drawing skepticism from critics.
Protecting wealth in a crash
For wealth protection, Kiyosaki advocated investing in tangible assets such as gold, silver, and Bitcoin (BTC). He emphasized the importance of physically holding these assets rather than relying on intermediaries and explicitly cautioned against exchange-traded funds (ETFs).
As reported by Finbold, Kiyosaki has blasted Bitcoin ETFs as “bankster’s money,” arguing that they are extensions of the same corrupt financial system he has long criticized.
Despite ongoing market volatility, Kiyosaki remains bullish on Bitcoin, projecting that it could reach as high as $500,000.
To this end, with the United States implementing measures to position itself as a Bitcoin hub, including establishing a strategic reserve, Kiyosaki sees the asset growing further while dismissing sellers as “losers.”
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