Latest news with #RobertKiyosaki
Yahoo
5 hours ago
- Business
- Yahoo
'Rich Dad Poor Dad' author warns 'the biggest crash in history is coming'
'Rich Dad Poor Dad' author warns 'the biggest crash in history is coming' originally appeared on TheStreet. Robert Kiyosaki, the author of the bestselling book "Rich Dad Poor Dad," has issued another stern warning about the market. The personal finance writer recently took to X to voice his persistent concern about "the biggest crash in history" that he says is coming as predicted in his book, "Rich Dad's Prophecy" (2013). When the stock, bond, and real estate markets crash this summer, millions of people, "especially my generation of boomers," will be wiped out, he warned. However, Kiyosaki seemed to offer a way out to "proactive" individuals who can not only survive this crash but may even become "extremely rich." Billions of traders will shift to gold and Bitcoin — the "digital gold," as Bitcoin proponents like to call it, Kiyosaki predicted. He placed his biggest bet on silver, though: In 2025 silver may 3X. As per Kraken, Bitcoin was quoted at $104,446.51 at press time, 6.7% lower than its May 22 record high of $111,970.17. Gold was trading at $3,372.30 per oz. at press time, 4% lower than its Apr. 22 record high of $3,500. Meanwhile, silver was exchanging hands at $34.58 at press time, 30% lower than its record high of $49.95 per oz. that it reached way back in January 1980. It is this price dynamic of silver that Kiyosaki said he was going to exploit. Gold and Bitcoin are also on his cards. The bestselling author asked his X followers: What are you going to do tomorrow….grow richer or grow poorer? Please choose to get richer. Kiyosaki's "Rich Dad Poor Dad" discusses two distinct financial mindsets: one believing in job security and savings, and another believing in investing and asset ownership to achieve financial independence. The author vouches for the latter. Disclaimer: The content above is intended for informational purposes only and should not be taken as financial advice. Do your own research before investing. 'Rich Dad Poor Dad' author warns 'the biggest crash in history is coming' first appeared on TheStreet on Jun 2, 2025 This story was originally reported by TheStreet on Jun 2, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Economic Times
a day ago
- Business
- Economic Times
Crash time is now: Kiyosaki urges dumping ‘fake money' for silver, predicts 3x surge
Robert Kiyosaki, author of the best-selling personal finance book Rich Dad Poor Dad, on Monday warned that the 'biggest crash in history' could begin this summer, urging investors to move out of stocks and bonds and into alternative assets like gold, silver, and Bitcoin. ADVERTISEMENT In a post on microblogging site X (formerly Twitter), Kiyosaki wrote, 'Do not say I didn't warn anyone.' Referencing his 2013 book Rich Dad's Prophecy, he said, 'As predicted in my book Rich Dad's Prophecy (2013) the biggest crash in history is coming. I am afraid that crash time is now and through this summer.' Kiyosaki cautioned that 'millions, especially my generation of boomers will be wiped out when the stock and bond markets crash,' while adding that 'millions who are proactive may become extremely rich… and as you know….I want you to be one of those who become very rich.' Kiyosaki said the downturn would not be limited to equities and bonds. 'Over this summer, as stock, bond, and real estate markets crash… billions will rush into gold, silver, and Bitcoin,' he these assets, he emphasized silver as the most undervalued: 'The biggest bargain today is silver. In 2025 silver may 3X.' He added that silver remains significantly below its historical peak: 'The better news is silver is still 60% under all time highs…. still about $35….while gold and Bitcoin are at or near all time highs.' ADVERTISEMENT Reiterating his preference for physical assets over paper investments, he said, 'Tomorrow I am going to my local gold and silver dealer and trading fake money for real silver…. no ETFs…. the biggest bargain today.' Kiyosaki urged his followers to take immediate action. 'Silver is priced around $35 an ounce which means almost everyone anywhere in the world….has a chance to grow richer…while millions grow poorer.' He concluded the post with a direct question: 'What are you going to do tomorrow….grow richer or grow poorer? Please choose to get richer. Take care.' Monday's post builds on a series of escalating warnings issued by Kiyosaki in recent weeks. On May 19, he predicted that central banks themselves could be at the center of the next financial meltdown, urging individuals to 'bail yourself out' with gold, silver, and Bitcoin. He questioned who would save monetary authorities like the U.S. Federal Reserve and cited economist Jim Rickards' concern over the $1.6 trillion U.S. student loan burden as a potential trigger. ADVERTISEMENT Earlier, on May 20, Kiyosaki reacted to Moody's downgrade of the U.S. credit rating by likening the country to 'a dead-beat dad who is spending borrowed money, without a job, and not taking care of his family.' He said the downgrade could usher in conditions similar to the 1929 Depression and again advised investing in alternative assets and adopting an entrepreneurial traces the root of systemic fragility to the U.S. abandoning the gold standard in 1971. 'Each crisis gets bigger because they never solve the problem… a problem which started in 1971 when Nixon took the US Dollar off the gold standard,' he wrote. Kiyosaki has consistently promoted silver as the most accessible path to wealth for everyday investors. In April, he said silver was 'the hottest investment today' and predicted it would double to $70 an ounce in 2025. He emphasized its affordability: 'Almost everyone in the world can afford at least one ounce of silver.' ADVERTISEMENT While Kiyosaki has advocated for gold and Bitcoin as well, he has increasingly emphasized silver's potential to outperform in the short term, citing both financial instability and its industrial demand. Kiyosaki's overall message remains anchored in distrust of fiat currency, which he routinely calls 'fake money.' As he wrote in May, 'As I have been warning for years the best way to protect your self is not by saving fake fiat money. As I stated over 25-years ago, in Rich Dad Poor Dad, 'The rich don't work for money' and 'Savers are losers.'' In calling for a shift away from traditional financial strategies, he has urged individuals to become self-reliant through asset accumulation and entrepreneurship: 'You bail you and your family out by saving real gold, silver, and Bitcoin… No ETFs.' ADVERTISEMENT Also read | Rich Dad, Poor Dad author Kiyosaki warns U.S. debt downgrade signals 1929 Depression, urges buying gold, silver, Bitcoin with entrepreneurial mindset (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Yahoo
3 days ago
- Business
- Yahoo
Robert Kiyosaki Says a ‘Greater Depression' Is Coming — Do Other Experts Agree?
'In 2025 credit card debt is at all time highs. US debt is at all time highs. Unemployment is rising. 401k's are losing. Pensions are being stolen. USA may be heading for a GREATER DEPRESSION [sic],' Robert Kiyosaki wrote in a tweet on X. He went on to urge investors to buy gold, silver and Bitcoin. 'I strongly believe, by 2035, that one Bitcoin will be over $1 million dollars. Gold will be $30k [sic] and silver $3,000 a coin. It will be the easiest money you ever made,' he wrote. Discover Next: Try This: Kiyosaki is no stranger to doom-and-gloom catastrophizing. Back in 2002, he wrote an entire book about his bearish predictions. The title says it all: 'Rich Dad Prophecy: Why the Biggest Stock Market Crash in History Is Still Coming…and How You Can Prepare Yourself and Profit from It!' So based on Kiyosaki's prediction of a 'Greater Depression,' which parts do other financial experts agree with — and which do they disagree with? Rising debt in the U.S. should raise more alarm bells than it has. The Federal Reserve reported that household debt reached an all-time high of $18.20 trillion in the first quarter of 2025. 'Consumer, corporate and government debt is out of control,' said Rod Skyles, writer for The Unconventional Economist. 'The forces driving interest rates higher seem to be building at a rapid rate, creating at least the environment for a death spiral of debt.' Read Next: Surging deficit spending at all levels of government have laid the foundation for a potential debt crisis. 'The key driver to all this is U.S. government deficit spending, which leads to a much higher overall U.S. debt,' Skyles added. 'We are currently in the fourth year of the worst Treasury market in history.' In the May issue of the Wolters Kluwer Blue Chip Economic Indicator survey, economists forecast a 72% probability of U.S. inflation increasing 'meaningfully' again over the next six months. The survey of economists also averaged a 47% probability that a U.S. recession will occur over the next 12 months. Economists do see a real risk of stagflation. The Blue Chip Economic Indicator survey uses a 'misery index' as a gauge of stagflation, representing the sum of the inflation rate and the employment rate. Economists see it climbing to a peak of 8.1% in the third quarter of 2025 before gradually easing to 6.9% in Q4 of 2026. 'These results are high relative to the years before the pandemic, but still far below readings in the 1970s and 1980s. The index was above 12% for much of that period and reached 19.9% in 1975 and 22.0% in 1980,' explained Frank Ready of Wolters Kluwer. Michelle Green, chief economist at Board, said she projects slower growth but not a deep depression. 'We've revised our real GDP forecast from 2.4% to 1.3% for 2025, with moderately rising unemployment and persistent inflationary pressures. This combination creates what economists would typically classify as mild to moderate stagflation rather than a depression-level economic collapse,' she said. As the department chair of finance and economics at Adelphi University, Dr. Mariano Torras said Kiyosaki diminishes his message with his 'get rich quick' talk. 'While he is likely correct that there are stormy seas ahead and I agree with him that we should put our money in tangible investments like property, metals and commodities, I do not expect to get 'rich' doing so.' Instead, Dr. Torras sees these as more defensive assets to help preserve purchasing power. If a 'greater depression' actually does come along, everyone will feel pain — but some will feel less of it than others. More From GOBankingRates I'm a Retired Boomer: 6 Bills I Canceled This Year That Were a Waste of Money These 10 Used Cars Will Last Longer Than an Average New Vehicle This article originally appeared on Robert Kiyosaki Says a 'Greater Depression' Is Coming — Do Other Experts Agree? Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
6 Books Robert Kiyosaki Recommends (Besides His Own) To Make You Rich
Robert Kiyosaki, famed author and financial guru, is a respected figure in the world of financial education. Beyond his own publications, which include but are not limited to 'Rich Dad Poor Dad,' 'Cashflow Quadrant,' 'Increase Your Financial IQ' and 'Why We Want You to be Rich' (co-written with Donald Trump), he advocates for improving your financial literacy through reading. Read Next: For You: Kiyosaki often speaks of books that have inspired and influenced his financial philosophy. Here are six of his top recommendations that he believes can set you on the path to wealth and financial freedom. A timeless classic, this book uses parables to convey fundamental financial wisdom. Kiyosaki often quotes its basic principles, such as paying yourself first and living below your means. Often regarded as the ultimate success book, Napoleon Hill shares the secrets of the most successful people of his time. Its lessons on positive thinking, setting clear goals, and persistence align with Kiyosaki's beliefs on achieving financial success. Learn More: This book is about recognizing opportunities in your own backyard. Kiyosaki often refers to it when emphasizing the importance of local investments and making the best of available resources. Considered the Bible of investing, Benjamin Graham's book is a guide to the philosophy of value investing. Kiyosaki believes that understanding the fundamentals presented in this book is key to becoming a successful investor. A book about the power of thought and its role in shaping one's life, Kiyosaki often references its teachings about the impact of a person's beliefs and thoughts on their financial success. This is a deep dive into the creation of the U.S. Federal Reserve and the nature of money. Kiyosaki recommends it for those who wish to understand the financial system better and how it affects individual wealth. More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? These 10 Used Cars Will Last Longer Than an Average New Vehicle This article originally appeared on 6 Books Robert Kiyosaki Recommends (Besides His Own) To Make You Rich Sign in to access your portfolio
Daily Mail
6 days ago
- Business
- Daily Mail
Finance guru who predicted crash of 2008 issues warning for U.S. economy
Bestselling financial author Robert Kiyosaki has issued a stark warning that the U.S. is barreling toward an unprecedented economic catastrophe. Kiyosaki said the next downturn will eclipse that of the Great Depression and make the 2008 crash look minor in comparison - and will even be far worse than anything seen since the 1930s. On X he wrote: 'This is not just another downturn. The U.S.A. may be heading for a GREATER DEPRESSION.' The expert predicted the collapse of Lehman Brothers in 2008 and wrote Rich Dad Poor Dad in 2002, which it still remains one of the most influential personal finance books of all time. Kiyosaki cited a dangerous cocktail of record-high credit card debt, ballooning national liabilities, rising unemployment, and shrinking retirement savings as signs that the economy is about to spectacularly unravel. He wrote: 'In 2025, credit card debt is at all-time highs. US debt is at all-time highs. Unemployment is rising. 401(k)'s are losing. 'This coming Great Depression will cause millions to be poor … and a few who take action may enjoy great wealth and freedom.' According to the Federal Reserve Bank of New York, Americans are now in $1.21 trillion credit card debt - an all-time high, a national debt of $36.22 trillion, and a jobless rate that reached 4.2% in March. In full: Kiyosaki says the upcoming economic crash will be worse than the Great Depression For many of those in the U.S. their 401(k)s, once viewed as the backbone of retirement, are now in the red. Far from a recession, Kiyosaki's prediction is that there will be an economic annihilation and that people should pivot into what he considers the only real shelters left: Bitcoin, gold, and silver. He wrote: 'For those who take action today, when the crash crashes, those who invest in just one Bitcoin, or some gold, or silver … You may come through this crisis a very rich person.' Gold is currently trading at around $3,300 per ounce, having blown past the once-daunting $2,000 mark. Silver has also climbed, and Bitcoin, despite its volatility, recently broke $110,000 per coin but Kiyosaki says the real explosion is still yet to come. The finance expert continued: 'I strongly believe, by 2035, that one Bitcoin will be over $1million. Gold will be $30K and silver $3,000 a coin.' Ray Dalio, founder of Bridgewater Associates, echoed Kiyosaki's sentiment in February and in conversation with CNBC said: 'People don't have, typically, an adequate amount of gold in their portfolio. When bad times come, gold is a very effective diversifier.' Kiyosaki, 78, agrees and has been advising Americans to stock up for years. In October 2023, he warned: 'Gold will soon break through $2,100 and then take off. You will wish you had bought gold below $2,000. Next stop, gold $3,700.' Financial firms have since introduced easier ways to invest including gold-backed retirement accounts, known as Gold IRAs, which combine the tax advantages of IRAs with the safety of physical bullion. Kiyosaki has always challenged conventional wisdom even when it comes to the American Dream of home ownership. Speaking to finance YouTuber Sharan Hegde in September 2023 he said: 'Your house is not an asset. 'If it puts money in my pocket, it's an asset. If my house is taking money from my pocket, it's a liability.' Instead, he advocates for rental properties - investments that pay you, rather than drain you. Through crowdfunding platforms like Arrived, even those with limited capital can buy into vetted rental homes for as little as $100 and begin earning income - no landlords, no leaky faucets, no nightmare tenants. However, Kiyosaki's boldest bet remains on Bitcoin. In November, he posted: 'Bitcoin will soon break $100,000.' By early December, his prediction came true and while the digital currency has since fluctuated, his long-term vision remains wildly bullish. Twitter co-founder Jack Dorsey similarly predicted in May 2024 that Bitcoin would hit at least $1 million by 2030 - and perhaps far beyond. Crypto platforms such as Gemini, Robinhood, and Coinbase have made buying Bitcoin easier offering regulated, full-reserve exchanges where users can trade dozens of digital assets with peace of mind. Kiyosaki's economic warnings come at a time of deep political and economic uncertainty. President Trump's sweeping tariffs have thrown global markets into disarray. Inflation, though somewhat now tamed from its peak is still an issue and interest rates remain high.
