Robert Kiyosaki, the influential author of Rich Dad Poor Dad, recently issued a stark warning to his followers about the current investment climate on X (formerly Twitter).
He characterized the current era as becoming “weird” and advised individuals to exercise caution when considering advice from ostensibly credible sources. Kiyosaki’s message is unequivocal: not all advice is beneficial, particularly in a market where eccentricity can result in investments that are misguided.
Kiyosaki: The Perils Of Misleading Advice
The cautionary tale of Kiyosaki is based on a personal anecdote concerning Iraqi dinars. He described how a woman approached a friend and recommended investing in these dinars, asserting that “Jesus told me to tell everyone that Iraqi Dinars are the safest and the finest.”
When times get wierd….the weird turn pro.
A friend was pitched an investment in Iraqi Dinars. I do not know anything about the investment potential of Iraqi Dinars.
What was WIERD was the person pitching the deal.
She said “Jesus told me to tell everyone that Iraqi…
— Robert Kiyosaki (@theRealKiyosaki) September 30, 2024
This unconventional endorsement prompted Kiyosaki to underscore the significance of evaluating the source of financial advice. In uncertain times, even well-meaning advice can lead investors astray, as he stated, “Be extra careful” about whom you attend to.
Many individuals who are currently navigating an increasingly intricate financial landscape will find his comments to be resonant. Consequently, the likelihood of succumbing to fraudulent recommendations increases as a growing number of individuals utilize social media platforms to obtain investment advice.
Kiyosaki’s cautionary tale serves as a reminder that mere assertions of divine inspiration do not necessarily imply that the advice they offer is sound.
BTCUSD trading at $61,713 on the daily chart: TradingView.com
A Change In Investment Strategy
But he still urges for a systemic change in investments, using these cautionary tales. He thinks the old 60/40 stock-to-bond formula is outdated and flawed.
He recommends that investors should invest 75% of their portfolios in gold, silver, and Bitcoin while keeping the remaining 25% in real estate and oil stocks. His motive is to make a cushion against what he believes is going to be one of the worst financial catastrophes in history with this diversification.
Robert Kiyosaki. Image: New Trader U
What is unique about Kiyosaki’s belief in Bitcoin is that he feels it will hit $1 million per coin by 2030. He wants his followers to begin stockpiling Bitcoin and accumulating precious metals now. He argues that such assets will act like a safe haven when the national currencies decline.
Preparing For Uncertain Times
Kiyosaki cautions that the future may be bleak for money as we know it. He emphasizes the potential impact of advancements in artificial intelligence on global finance. He believes that AI has the potential to significantly disrupt traditional financial systems and contribute to economic upheaval.
Kiyosaki advises against investing in bonds or storing money in anticipation of this impending turmoil. Rather, he suggests that one concentrate on tangible assets, such as genuine gold and silver coins, which could be utilized as cash during times of crisis. His perspective is indicative of the increasing sentiment among investors who are seeking stability in the face of uncertainty.
Featured image from Early Christian Texts, chart from TradingView
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