Robert Kiyosaki Emphasizes the Importance of Bitcoin Halving for Investors

Introduction

Renowned author Robert Kiyosaki, best known for his book Rich Dad Poor Dad, has recently urged investors to pay close attention to the upcoming Bitcoin halving event. In addition to sharing his views on the halving, Kiyosaki emphasized his lack of trust in the U.S. dollar and revealed his significant debt, which he sees as an opportunity rather than a problem.

Bitcoin Halving and Kiyosaki's Perspective

Kiyosaki, co-author of the popular book Rich Dad Poor Dad, has highlighted the significance of the upcoming Bitcoin halving, scheduled for April. The book, written in 1997 by Kiyosaki and Sharon Lechter, has been a New York Times Best Seller for over six years, with more than 32 million copies sold worldwide in over 51 languages.

Kiyosaki believes that having a social circle of wealthy individuals or at least people with aspirations to become wealthy is crucial for those seeking financial success. He emphasized this point in a recent post on the social media platform X, concluding the message with a reminder about the approaching Bitcoin halving. He encouraged his followers to pay attention to Bitcoin, gold, and silver during the months of January, February, and March.

The famous author has long been an advocate for investing in gold, silver, and bitcoin. Despite being more than $1 billion in debt, Kiyosaki remains unfazed, stating that he sees his debt as an opportunity rather than a burden. He explained that while most people use debt to purchase liabilities, he uses it to acquire assets. Kiyosaki's financial strategy involves converting his earnings into silver, gold, and bitcoin, as he has lost trust in the U.S. dollar.

Anticipation of Bitcoin Price Surge

The upcoming Bitcoin halving and the potential approval of spot exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) have heightened expectations of a significant price surge for BTC. Microstrategy's executive chairman, Michael Saylor, predicts that demand for Bitcoin will double after the halving. Furthermore, analysts have made various price forecasts, with some predicting a BTC price of $400,000, $148,000, or even $180,000.

Conclusion

Robert Kiyosaki's advice regarding the upcoming Bitcoin halving holds significant weight given his expertise and success as an author and investor. His emphasis on the importance of the halving event and his lack of faith in the U.S. dollar further underline the potential opportunities that lie ahead. As the Bitcoin halving draws near, investors are eagerly anticipating a surge in BTC price and exploring the possibilities it presents.

What are your thoughts on Robert Kiyosaki's advice? Share your opinions in the comments below.

Frequently Asked Questions

What is the cost of gold IRA fees

An Individual Retirement Account (IRA) fee is $6 per month. This fee covers account maintenance fees, as well any investment costs that may be associated with your investments.

You may have to pay additional fees if you want to diversify your portfolio. These fees can vary depending on which type of IRA account you choose. Some companies offer free checking, but charge monthly fees for IRAs.

A majority of providers also charge annual administration fees. These fees range from 0% to 1%. The average rate per year is.25%. These rates are usually waived if you use a broker such as TD Ameritrade.

What does a gold IRA look like?

For people who are looking to invest in precious materials, Gold Ira account accounts provide tax-free investments.

You can purchase physical bullion gold coins at any point in time. You don't have a retirement date to invest in gold.

The beauty of owning gold as an IRA is you can hold on to it forever. Your gold holdings will not be subject to tax when you are gone.

Your gold is passed to your heirs without capital gains tax. You don't need to include your gold in your final estate report, as it isn't part of the estate.

To open a Gold IRA, you'll need to first set up an Individual Retirement Account (IRA). Once you've done that, you'll receive an IRA custody. This company acts like a middleman between the IRS and you.

Your gold IRA custodian will handle the paperwork and submit the necessary forms to the IRS. This includes filing annual returns.

After you have created your gold IRA, the only thing you need to do is purchase gold bullion. The minimum deposit is $1,000. The minimum deposit is $1,000. However, you will receive a higher percentage of interest if your deposit is greater.

Taxes will be charged on gold you have withdrawn from an IRA. If you are withdrawing your entire balance, you will owe income tax plus a 10% penalty.

However, if you only take out a small percentage, you may not have to pay taxes. However, there are exceptions. For example, taking out 30% or more of your total IRA assets, you'll owe federal income taxes plus a 20 percent penalty.

You should avoid taking out more than 50% of your total IRA assets yearly. You could end up with severe financial consequences.

How much money should my Roth IRA be funded?

Roth IRAs can be used to save taxes on your retirement funds. You can't withdraw money from these accounts before you reach the age of 59 1/2. However, if you do decide to take out some of your contributions before then, there are specific rules you must follow. You cannot touch your principal (the amount you originally deposited). This means that you can't take out more money than you originally contributed. If you take out more than the initial contribution, you must pay tax.

The second rule says that you cannot withdraw your earnings without paying income tax. Withdrawing your earnings will result in you paying taxes. Let's assume that you contribute $5,000 each year to your Roth IRA. Let's further assume you earn $10,000 annually after contributing. You would owe $3,500 in federal income taxes on the earnings. That leaves you with only $6,500 left. This is the maximum amount you can withdraw because you are limited to what you initially contributed.

If you took $4,000 from your earnings, you would still owe taxes for the $1,500 remaining. On top of that, you'd lose half of the earnings you had taken out because they would be taxed again at 50% (half of 40%). You only got back $4,000. Even though you were able to withdraw $7,000 from your Roth IRA,

There are two types of Roth IRAs: Traditional and Roth. Traditional IRAs allow for pre-tax deductions from your taxable earnings. You can withdraw your contributions plus interest from your traditional IRA when you retire. There are no restrictions on the amount you can withdraw from a Traditional IRA.

Roth IRAs don't allow you deduct contributions. However, once you retire, you can withdraw your entire contribution plus accrued interest. There is no minimum withdrawal amount, unlike traditional IRAs. You don’t have to wait for your turn 70 1/2 years before you can withdraw your contributions.

How to Open a Precious Metal IRA

The first step is to decide if you want an Individual Retirement Account (IRA). You must complete Form 8606 to open an account. To determine which type of IRA you qualify for, you will need to fill out Form 5204. This form should be completed within 60 days after opening the account. Once you have completed this form, it is possible to begin investing. You could also opt to make a contribution directly from your paycheck by using payroll deduction.

To get a Roth IRA, complete Form 8903. Otherwise, the process is identical to an ordinary IRA.

To be eligible for a precious metals IRA, you will need to meet certain requirements. The IRS stipulates that you must have earned income and be at least 18-years old. Your annual earnings cannot exceed $110,000 ($220,000 if you are married and file jointly) for any tax year. Additionally, you must make regular contributions. These rules apply whether you're contributing through an employer or directly from your paychecks.

You can invest in precious metals IRAs to buy gold, palladium and platinum. However, physical bullion will not be available for purchase. This means you won’t be able to trade stocks and bonds.

You can also use your precious metals IRA to invest directly in companies that deal in precious metals. This option may be offered by some IRA providers.

An IRA is a great way to invest in precious metals. However, there are two important drawbacks. First, they don't have the same liquidity as stocks or bonds. It is therefore harder to sell them when required. They don't yield dividends like bonds and stocks. So, you'll lose money over time rather than gain it.

Statistics

• The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
• This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
• Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
• If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
• If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)

External Links

forbes.com

• Gold IRA: Add some sparkle to your retirement nest egg
  
• Understanding China's Evergrande Crisis – Forbes Advisor
  

finance.yahoo.com

• Yahoo Finance – Barrick Gold Corporation Stock Price, News & Quote – Barrick Gold Corporation (GOLD).
  

bbb.org

• BBB: Start With Trust(r), Better Business Bureau(r).
  

law.cornell.edu

• 7 U.S. Code SS7 – Designation of boards for trade as contract markets
  
• 26 U.S. Code SS 408 – Individual retirement plans
  

How To

The History of Gold as an Asset

From ancient times to the beginning of the 20th century, gold was used as a currency. It was widely accepted around the world and enjoyed its purity, divisibility and uniformity. Aside from its inherent value, it could be traded internationally. There were different measures and weights for gold, as there was no standard to measure it. One pound sterling in England was equivalent to 24 carats silver, while one livre tournois in France was equal 25 carats. In Germany, one mark was equivalent to 28 carats.

The United States began issuing American coin made up 90% copper, 10% zinc and 0.942 fine-gold in the 1860s. This led to a decline in demand for foreign currencies, which caused their price to increase. In this period, large amounts of gold coin were minted by the United States, which caused the gold price to drop. Due to the excessive amount of money flowing into the United States, they had to find a way for them to repay some of their debt. To do so, they decided to sell some of the excess gold back to Europe.

Because most European countries did not trust the U.S. dollar, they started accepting gold as payment. Many European countries began to use paper money and stopped accepting gold as payment after World War I. The gold price has gone up significantly in the years since. Even though the price of gold fluctuates, it remains one the best investments you can make.

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By: Kevin Helms
Title: Robert Kiyosaki Emphasizes the Importance of Bitcoin Halving for Investors
Sourced From: news.bitcoin.com/rich-dad-poor-dad-author-robert-kiyosaki-advises-investors-to-pay-attention-to-bitcoin-halving/
Published Date: Fri, 05 Jan 2024 05:00:23 +0000