Earning and saving money is one thing, but growing and managing it wisely is another. Earning and saving lay the foundation for financial stability.
However, pretty much all can agree that 'true wealth' comes from making money work for through smart investments, strategic planning, and mindful spending.
Robert Kiyosaki is a renowned entrepreneur, investor, and author best known for his book Rich Dad Poor Dad. His teachings focus on financial education, wealth-building strategies, and the mindset needed to achieve financial independence.
By seeing the soaring prices of cryptocurrencies in general, he highlighted Bitcoin’s $100,000 milestone as a significant moment in investment strategy.
The New York Times Best Seller for more than six years shared his concerns on social media platform X, where Robert Kiyosaki underscored the precarious position of baby boomers.
He particularly pointed out baby boomers' because of their heavy reliance on conventional retirement assets such as homes, stocks, and bonds, which leaves them particularly exposed.
Kiyosaki highlighted some big moments in history, where boomers "have been lucky."
He mentioned how boomers caused real estate market to boom in the 1970s, and later caused the stock and bond market to also boom.
Here, he said that in the 2020s, it's these boomers' old age that can cause real estate and stock and bond market to go bust.
"If I were a child of a boomer…I would nudge my parents to sell their home, stocks, and bonds now….while prices are high…before the crash that is coming…and buy gold, silver, and Bitcoin now….before your boomer mom and dad move in with you…or expect you to pay for their rising healthcare or funeral costs."
The famous author expects "the biggest crash in history is coming.
BOOMERS are SOL:
When stock market bursts…BOOMERS will be BIGGEST LOSERS.
BOOMERS have been lucky.
In 1970’s BOOMER’s caused real estate market to BOOM.
In 1970’s BOOMER’s 401k’s caused stock and bond market to BOOM.
In 2020’s BOOMER’s old age will cause real estate and…— Robert Kiyosaki (@theRealKiyosaki) December 9, 2024
Robert Kiyosaki has long been pushing the importance of financial education, emphasizing that schools teach academic skills but rarely cover financial literacy.
He also urge people to always buy assets and not liabilities, and to always focus on creating passive income streams rather than relying solely on a job or salary.
"The rich don’t work for money; they make money work for them."
It's worth noting though, that Kiyosaki has been criticized for providing financial advice that some consider misleading or overly simplistic, like how his suggestions lack actionable advice, and how he often focuses on motivational stories rather than offering concrete financial strategies.
Not to mention some questionable claims and risky investment advise.
And by advising people to buy Bitcoin besides precious metals is no exception.
Bitcoin, just like any other cryptocurrency, is extremely volatile. It has seen many ups, and many downs. While Bitcoin's price tends to rise, there is no saying when it will fall, or far hard it will plummet.
Regardless, Kiyosaki’s principles always emphasize mindset shifts and proactive learning.
His main concept is always based on "The Cashflow Quadrant."
That is the idea that he wants people to conceive.
With his "cash is trash" perspective, Kiyosaki advocates that money management, investing, and entrepreneurship as keys to build long-term wealth.
It's also worth noting that Kiyosaki has accumulated debt, but he views debt as a financial tool rather than a burden. He distinguishes between a good debt, which is used to by assets, and a bad debt, which is used to liabilities.