Renowned financial educator and author Robert Kiyosaki has warned about the economic challenges ahead, urging individuals to prepare for what he describes as “bad times.”
In an X post on July 21, Kiyosaki shared his insights and advice on navigating the impending economic downturn.
Kiyosaki began by highlighting the current turmoil in the real estate market, suggesting that a significant crash is underway. He emphasized that such downturns also present opportunities, echoing the profound wisdom of his famous mentor, referred to as ‘Rich Dad.’
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The author, known for the best-selling personal finance book ‘Rich Dad Poor Dad,’ stated that the best time to get rich is approaching. His mentor taught him that if one does not learn how to make money in one’s sleep, one will never be rich.
“Real estate markets are crashing. As my Rich Dad taught me….”If you don’t lean how to make money in your sleep… you’ll never be rich.” The time to make money in your sleep is arriving now. For the hard times that are coming,” he said.
Navigating economic hardships
In times of economic hardship, Kiyosaki advised focusing on self-improvement and confidence. He shared his mentor’s philosophy on resilience and strength, emphasizing that life’s journey never gets easier, but one’s job is to get stronger.
Kiyosaki also cautioned against the detrimental effects of excessive worry, which he believes can be life-destroying. Instead, he encouraged continuous learning and surrounding oneself with successful and supportive individuals.
According to the author, the forthcoming difficult times will separate brave, smart, courageous, and open-minded from those who are not. He believes these qualities are essential for not only surviving but thriving during economic challenges.
Reiterating his earlier point, the investor stressed the importance of creating passive income streams. He reminded everyone that if they cannot make money in their sleep, they will work harder all their life.
“Take care of yourself: Keep studying. Attend seminars. Change your friends. Listen to successful people…not life’s highly educated cowards who work 9 to 5. Bad times are coming…and the brave, the smart, the courageous, and the open-minded will grow richer and wiser,” Kiyosaki added.
Possible economic crash
Indeed, Kiyosaki’s sentiment aligns with his longstanding warning that investors should expect a possible economic downturn. He has maintained that one of the largest financial crashes is on the horizon, noting the need to start preserving wealth.
In this vein, the financial educator has urged investors to focus on buying Bitcoin (BTC) and precious metals, including gold and silver, providing a clear path for wealth preservation.
