Between the plunging markets and soaring inflation, 2022 wasn’t an easy year for retirees — or those nearing retirement. But according to Rich Dad Poor Father author Robert Kiyosaki, this demographic could be facing another crisis.
Kiyosaki compared U. S. pensions to a bubble waiting to burst, calling them the “next global Lehman, ” referring to the downfall of investment bank Lehman Brothers.
Lehman Brothers had assets of $691 billion when it filed for bankruptcy in September 2008, marking the particular largest corporate bankruptcy inside U. H. history. And currently, U. S. state and local pension plans face an estimated $1. 4 trillion shortfall.
So what should investors do in the face of an upcoming retirement crisis?
“People who own gold, silver, Bitcoin may get richer when Fed, Treasury, Wall Street pivot [and] print trillions associated with fake dollars, ” Kiyosaki says.
“Fake money savers will be biggest losers. Don’t be a loser. ”
Let’s take a closer look at these suggestions — and why you might want in order to take them seriously.
Gold and silver
Precious metals — particularly gold and silver — have been a popular hedge against inflation plus uncertainty. They can’t end up being printed out of thin air like fiat money and their value is largely unaffected by economic events around the world.
Kiyosaki has long been the fan of gold — he first purchased the particular yellow metal in 1972.
“I’m not buying gold because I like platinum, I’m buying gold because I don’t trust the Fed, ” he said in an interview last year.
Kiyosaki likes metallic, too. In fact, he recently tweeted “Silver best investment in Oct 2022” and “Everyone can afford $20 silver. ”
To be sure, precious metals aren’t shooting through the roof. But they’ve demonstrated their resilience in this broad market selloff: the price of gold is down about 2% within 2022, while silver is up 1. 2%.
While there are many ways to gain exposure to silver and gold, Kiyosaki prefers to just buy the metallic directly. Earlier this 12 months, he messaged that he only wants “real gold or even silver coins” and not ETFs.
The author also called silver “a bargain” recently. So it might be time to visit your local bullion shop.
Bitcoin investors have learned the hard way just how volatile it can be.
Last November, bitcoin reached a high of $68, 990. Today, it’s hovering around $16, 700.
Yet Kiyosaki doesn’t seem bothered by the cryptocurrency’s downturn.
“BITCOIN? WORRIED? No, ” this individual writes in a tweet last month. “I am a Bitcoin investor as I is an investor in physical gold, sterling silver, & real estate. ”
In fact, he sees the crypto mayhem as an opportunity.
“When BITCOIN hits new bottom, $10 to $12 k? I will get EXCITED, not worried. ”
Kiyosaki believes in bitcoin for the same reason he or she loves precious metals: a distrust in our fiat money system plus the government.
“I bet against the particular Fed, Treasury, Biden, & bet on [gold], [silver], & Bitcoin, ” he explains.
These days, it’s very easy to tap into bitcoin: you can buy bitcoin directly. Just be aware that many exchanges charge up to 4% in commission fees just to buy and sell crypto. So look for investing apps that charge low or even zero commissions.
What in order to read next
This article provides information just and should not be construed as advice. It is provided without warranty of any kind.