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‘Rich Dad’ Kiyosaki warns this asset will ‘toast millions of 401ks and IRAs’

'Rich Dad' Kiyosaki warns this asset will 'toast millions of 401ks and IRAs'

As part of his persistent cautionary stance on an impending financial crisis, Robert Kiyosaki, the author of the best-selling finance book ‘Rich Dad Poor Dad,’ has offered insights into investment products poised to suffer the most in a crash.

In a post on X (formerly Twitter) dated December 11, Kiyosaki delivered a stark warning concerning the potential fate of millions of retirement accounts. While issuing this caution, the financial educator acknowledged that his previous predictions regarding financial crises have often been criticized and ridiculed.

Undeterred by past skepticism, Kiyosaki asserted that the next financial casualty would be the S&P 500, spelling trouble for millions of 401(k)s and IRAs linked to the index.

“People are still laughing at those 1997 predictions. Watch for my next warning. The S & P is next, which will toast millions of 401ks and IRAs. Take care,” he warned. 

Emphasizing the urgency of the situation, he asserted that the U.S. banking system is teetering on the brink of bankruptcy and urged individuals to diversify their investments into assets such as gold, silver, and Bitcoin (BTC) to protect wealth.

Ridicule of past predictions 

The financial expert drew parallels to his previous predictions, recalling his appearance on television in 2008, where he forecasted the Lehman Brothers crash before it occurred. Kiyosaki recounted how his warnings were met with laughter, only for them to materialize. 

“If you can find me on Wolf Blitzer’s program on CNN  I am on Wolf’s program calling for the crash of Lehmann Brothers in 2008  before it crashed. Wolf laughed at that. In 2023, I am on Neil Cavuto’s show on Fox Business calling for the crash of banking giant Credit Suisse which it did and the possibility of UBS United Bank of Switzerland possibly crashing next,” Kiyosaki added. 

Furthermore, reflecting on his 1997 book, “Rich Dad Poor Dad,” Kiyosaki reminded the public of his accurate predictions, including the statements “Savers are losers” and “Your home is not an asset,” both of which materialized during the 2008 financial crisis. 

Amidst his persistent alerts about looming financial challenges, Kiyosaki has advocated for asset diversification and protection, consistently favoring Bitcoin, gold, and silver.

Potential Great Depression incoming 

According to Finbold’s report, Kiyosaki has sounded the alarm about the potential onset of the next Great Depression. Emphasizing that acquiring gold, silver, and Bitcoin stands as the most effective safeguard against a possible collapse, he has urged investors to consider these assets seriously.

In the meantime, Kiyosaki maintains his skepticism toward the U.S. dollar, deeming it ‘fake.’ He continues championing investments in tangible, real assets as a more secure strategy.

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