Robert Kiyosaki Predicts Challenging Times Ahead for Millions
Renowned author Robert Kiyosaki, best known for his book Rich Dad Poor Dad, has once again expressed concerns about the state of the U.S. economy. Rich Dad Poor Dad, which Kiyosaki co-authored with Sharon Lechter in 1997, has remained on the New York Times Best Seller List for over six years. With over 32 million copies sold in more than 109 countries and translated into 51 languages, it has become an international sensation.
Kiyosaki took to the social media platform X to share his thoughts on the current situation, stating that a "giant market collapse is here" due to what he perceives as incompetence in the White House, the U.S. Treasury, and the Federal Reserve. He went on to express his concerns:
We may face the possibility of the next Great Depression and even war. Millions of people will undoubtedly experience extremely difficult times ahead.
Kiyosaki highlighted that individuals who possess the right mindset and are adequately prepared can actually thrive during the next Great Depression. He advised his followers to be proactive and take precautions, suggesting investments in gold, silver, and bitcoin.
As a well-known figure in the financial world, Kiyosaki has consistently warned about the challenges that lie ahead for the U.S. economy. In addition to his endorsement of gold, silver, and bitcoin, he also recommends investing in bitcoin exchange-traded funds (ETFs) for those who prefer not to purchase BTC directly. It is anticipated that the U.S. Securities and Exchange Commission (SEC) will soon approve applications for spot bitcoin ETFs.
Last month, Kiyosaki revealed his recommended investment allocation to help investors navigate the "greatest crash in world history." This month, he is urging investors to prepare for hyperinflation, emphasizing that bitcoin offers the "best protection." He has previously stated that bitcoin provides lifelong financial security and freedom, advising investors to enter the cryptocurrency market now before it's too late.
What are your thoughts on the warnings from Robert Kiyosaki, the author of Rich Dad Poor Dad? Share your opinions in the comments below.
Frequently Asked Questions
Can I hold a gold ETF in a Roth IRA?
You may not have this option with a 401(k), however, you might want to consider other options, like an Individual retirement account (IRA).
A traditional IRA allows contributions from both employee and employer. Another option is to invest in publicly traded corporations with an Employee Stockownership Plan (ESOP).
An ESOP provides tax advantages because employees share ownership of company stock and profits the business generates. The money invested in ESOPs is taxed at a lower rate that if it were owned directly by an employee.
An Individual Retirement Annuity (IRA) is also available. An IRA lets you make regular, income-generating payments to yourself over your life. Contributions to IRAs don't have to be taxable
Should You Invest in Gold for Retirement?
The answer depends on how much money you have saved and whether gold was an investment option available when you started saving. If you're unsure about which option to choose then consider investing in both.
Gold is a safe investment and can also offer potential returns. This makes it a worthwhile choice for retirees.
Most investments have fixed returns, but gold's volatility is what makes it unique. This causes its value to fluctuate over time.
However, this does not mean that gold should be avoided. This just means you need to account for fluctuations in your overall portfolio.
Another benefit to gold? It's a tangible asset. Gold is much easier to store than bonds and stocks. It can be easily transported.
Your gold will always be accessible as long you keep it in a safe place. Physical gold is not subject to storage fees.
Investing in gold can help protect against inflation. You can hedge against rising costs by investing in gold, which tends to rise alongside other commodities.
A portion of your savings can be invested in something that doesn't go down in value. Gold tends to rise when the stock markets fall.
Investing in gold has another advantage: you can sell it anytime you want. You can also liquidate your gold position at any time you need cash, just like stocks. You don’t even need to wait until retirement to liquidate your position.
If you do decide to invest in gold, make sure to diversify your holdings. Don't put all your eggs on one basket.
Don't buy too many at once. Begin by buying a few grams. You can add more as you need.
The goal is not to become rich quick. It's not to get rich quickly, but to accumulate enough wealth to no longer need Social Security benefits.
Gold may not be the most attractive investment, but it could be a great complement to any retirement strategy.
What Precious Metals Can You Invest in for Retirement?
Gold and silver are the best precious metal investments. Both are easy to sell and can be bought easily. They are a great way to diversify your portfolio.
Gold: Gold is one the oldest forms currency known to man. It is very stable and secure. Because of this, it is considered a great way of preserving wealth during times when there are uncertainties.
Silver: Silver has always been popular among investors. This is a great choice for people who want to avoid volatility. Silver is more volatile than gold. It tends to rise rather than fall.
Platinum: A new form of precious metal, platinum is growing in popularity. Like gold and silver, it's very durable and resistant to corrosion. However, it's much more expensive than either of its counterparts.
Rhodium: The catalytic converters use Rhodium. It is also used to make jewelry. It's also relatively inexpensive compared to other precious metals.
Palladium (or Palladium): Palladium can be compared to platinum, but is much more common. It's also much more affordable. It's a popular choice for investors who want to add precious metals into their portfolios.
How much gold can you keep in your portfolio
The amount of capital required will affect the amount you make. A small investment of $5k-10k would be a great option if you are looking to start small. As your business grows, you might consider renting out office space or desks. Renting out desks and other equipment is a great way to save money on rent. Rent is only paid per month.
Consider what type of business your company will be running. In my case, I am running a website creation company, so we charge clients around $1000-2000/month depending on what they order. If you are doing this type of thing, it is important to think about how much you can expect from each client.
Because freelance work pays freelancers, you won't likely get a monthly income if you do freelance work. You might get paid only once every six months.
So you need to decide what kind of income you want to generate before you know how much gold you will need.
I recommend starting with $1k to $2k of gold, and then growing from there.
- 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)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (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)
- Yahoo Finance provides information about Barrick Gold Corporation's (GOLD) stock price, news, quote, and history.
- Saddam Hussein's InvasionHelped Uncage a Bear In 1991 – WSJ
- Do you want to keep your IRA gold at home? It's not exactly legal – WSJ
Investing in gold vs. investing in stocks
This might make it seem very risky to invest gold as an investment tool. This is because many people believe that gold investment is no longer profitable. This belief arises because most people believe that the global economy is driving down gold prices. People believe that investing in gold would result in them losing money. There are many benefits to investing in gold. Let's take a look at some of the benefits.
The oldest form of currency known to mankind is gold. There are records of its use going back thousands of years. It has been used as a store for value by people all over the globe. Even today, countries such as South Africa continue to rely heavily on it as a form of payment for their citizens.
The first point to consider when deciding whether or not you should invest in gold is what price you want to pay per gram. If you're interested in buying gold bullion, it is crucial that you decide how much per gram. If you don’t know what the current market price is, you can always call a local jewelry store and ask them their opinion.
It's also important to note that, although gold prices are down in recent months, the costs of producing it have risen. So while the price of gold has declined, production costs haven't changed.
You should also consider the amount of your intended purchase when considering whether you should buy or not. If you plan to buy enough gold to cover your wedding rings then it is probably a good idea to wait before buying any more. However, if you are planning on doing so for long-term investments, then it is worth considering. It is possible to make a profit by selling your gold at higher prices than when you purchased it.
We hope this article helped you to gain a better appreciation of gold as a tool for investment. We strongly recommend that you research all available options before making any decisions. Only after doing so can you make an informed decision.
By: Kevin Helms
Title: Robert Kiyosaki Issues Warning of Market Collapse, War, and Difficult Times Ahead for Millions
Sourced From: news.bitcoin.com/robert-kiyosaki-warns-of-giant-market-collapse-war-really-hard-times-ahead-for-millions/
Published Date: Sun, 03 Dec 2023 02:30:47 +0000