"Rich Dad Poor Dad" Author: The stock market crash has arrived, suggesting investment in physical gold and Bitcoin
On March 9, Robert Kiyosaki, the author of "Rich Dad Poor Dad," issued a warning that the biggest stock market crash he predicted in his 2014 book "Rich Dad's Prophecy" has arrived and could potentially destroy the future of millions of baby boomers worldwide.
In response to the current situation, Kiyosaki advises investors to buy and hold physical gold, silver, and Bitcoin to combat what he describes as a "corrupt and criminal monetary Ponzi scheme." He specifically emphasizes not recommending buying gold, silver or Bitcoin ETFs, considering them as fake as dollars and U.S. bonds. He prefers tangible assets.
Kiyosaki points out that American baby boomers are the first group to have Defined Contribution pension plans such as 401k and IRA while World War II generation had Defined Benefit pension plans. The key difference between these two is that during a market crash DB type pensions must pay investors according to their promises whereas DC type pensions only need to pay part contributed by investors from remaining funds after market crashes.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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