Robert Kiyosaki, renowned author of Rich Dad Poor Dad, has advised the Boomer generation to invest in Bitcoin and gold for financial security in retirement.
He warns that inflation has severely impacted traditional retirement savings like 401(k)s, pushing many retirees back into the workforce.
During a recent dinner with a Boomer friend, Kiyosaki learned that many Boomers are struggling to survive on their savings, which have lost value due to inflation. Kiyosaki emphasized the importance of holding real assets like Bitcoin, gold, and silver to preserve wealth.
Kiyosaki Upholds Bitcoin for Retirement Savings
Kiyoski is concerned that the wealthiest receive disproportionate gains from the Federal Reserve’s ongoing money printing and the middle class and impoverished suffer financial setbacks.
He clarified that the production of “fake money” raises the cost of necessities like food, petrol and entertainment, devaluing savings held in conventional assets. Because their nest eggs are insufficient to support their living expenditures, he thinks this is the reason why so many Baby Boomers are being compelled to leave retirement and look for work.
Understanding that inflation results from increased money printing by the Federal Reserve is Kiyosaki’s first tip for averting financial disaster. Because of this, people who own actual assets, like gold, silver, and now Bitcoin, can keep or even increase their wealth.
On the other hand, retirees who depend on fiat currency and conventional assets such as equities and bonds might not have enough resources to last them until retirement.
Kiyosaki’s Changing Views on Cryptocurrencies
It is surprising to know that Kiyosaki was not so sure about cryptocurrencies in the past. His opinions have evolved recently. He now views Bitcoin as the “people’s money,” a trustworthy, decentralised medium of exchange that is comparable to gold and silver.
Unlike fiat currencies, which are infinitely created, Bitcoin has a fixed supply, which acts as a buffer against inflation, according to Kiyosaki.
According to his predictions, the value of Bitcoin may potentially reach $1 million in the future, making it an essential asset for individuals seeking to protect their capital in a more volatile financial landscape.
Avoid becoming a “late-in-life loser,” depending on savings in fictitious money and fictitious assets, according to Kiyosaki’s advice. Rather, he tells people to concentrate on obtaining genuine assets that have inherent worth.
Even in unstable economic times, Kiyosaki thinks that by doing this, people can attain financial independence and live comfortably in retirement. Boomers will need to refocus their attention from traditional retirement accounts to alternative investments such as gold, silver, and Bitcoin.
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