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Robert Kiyosaki warns baby boomers will be the ‘biggest losers’ – suggests children ‘urging’ their parents to sell their homes and assets before it’s too late
Robert Kiyosaki is nothing without consistency. Author of Rich Dad Poor Dad and self-proclaimedbillionaire in debt” has built a reputation for predicting market catastrophes, and if you follow him on X, it feels like every week he’s warning you about the next big crash. But his latest posts Things are changing quickly, even for him.
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Mr. Kiyosaki is an avid real estate investor who owns well-known properties. 15,000 propertiesis now encouraging baby boomers to sell their homes. Yes, I will sell it. “If I were a baby boomer…I would encourage my parents to sell their house, stocks, and bonds now…while prices are high…before the coming crash,” he wrote in a recent post. are. .
For someone who has been preaching the virtues of real estate for decades, this feels like a twist. However, Kiyosaki is not one to sugarcoat his opinions and is clear about who will be hit the hardest: the boomer generation. “When the stock market collapses…baby boomers will be the biggest losers,” he warned, noting that once-unaffordable retirement assets (homes, 401(k)s, IRAs) alone won’t hold them back. He added that it wasn’t enough to save him.
Kiyosaki argues that boomers have had a good life for too long, blaming the same generation he is warning about. “The boomers were lucky,” he said, noting that their generation boosted the real estate market in the 1970s and fueled the stock and bond boom with 401(k)s. But now, with an aging population, those booms will turn into busts, he says.
If you’re a baby boomer, Kiyosaki’s message is even darker. “Don’t be surprised if your parents come knocking at your door.” “Buy gold, silver, and Bitcoin now…before baby boomer moms and dads move in with you…or you’ll be paying for their soaring medical bills and funeral costs.” ” he wrote in his characteristic frank style.
This level of destruction is standard for Kiyosaki. He recently said that the S&P 500 isCheers to millions of 401(k)s and IRAs.“But even by his standards, calling on baby boomers to sell their homes is a departure. It’s unusual for him to suggest getting out of real estate completely, but this shows how much he thinks about the current market.” It shows that you are pessimistic.”
In contrast to Robert Kiyosaki’s warnings of an impending housing market crash, many experts maintain a more optimistic outlook. “We do not expect a housing market crash in 2024, as a stable economy and labor market continue to support household incomes and balance sheets,” said Daniel Hale, chief economist at Realtor.com. do.
Similarly, a U.S. News & World Report report notes that although rising mortgage rates may continue to suppress home sales, home prices will fluctuate based on local market conditions, but in the short term. It suggests that it is expected to maintain its value. These outlooks indicate that, while concerning, we do not expect widespread housing valuation declines in the near future.
Still, Kiyosaki’s advice boils down to the same beliefs he’s been pushing for years. People should ditch traditional assets and turn to what he calls the “real” safe-haven assets: gold, silver and Bitcoin. Whether you find his warning insightful or exhausting, one thing is clear: he’s not betting on a happy ending.
