The Best-selling book Rich Dad Poor Dad, written by renowned author Robert Kiyosaki, cautioned against investing in a portfolio of stocks, bonds, mutual funds and exchange-traded funds (ETFs). He labeled it as a very risky recommendation. Kiyosaki urged that gold, silver and bitcoin are the most suitable investments for uncertain times.
Investment Suggestions from Robert Kiyosaki
The 1997 book Rich Dad Poor Dad was co-authored by Kiyosaki and Sharon Lechter. This has been on the New York Times Best Seller List for more than six years now and over 32 million copies of the book have been sold in more than 51 languages in more than 109 countries.
Kiyosaki tweeted on Friday:
For years, I have been saying “Saving money and investing in a well-diversified portfolio of stocks, bonds, mutual funds, and ETFs is risky advice.” Today it is an extremely dangerous advice. I believe that gold, silver and bitcoin will be more valuable in turbulent times, but they will keep appreciating.
The renowned author has previously said, “I don’t love stocks, bonds, mutual funds, or ETFs.” He famously declared that investors should only spend their money on things they love. In April last year, he called bonds “the riskiest investment” in a global meltdown. “Regrettably, novice investors follow the novice advice of a 60 (stocks) 40 (bonds) mix,” He suggested investors to buy gold, silver, and bitcoin as insurance against the fools who rule the world.
Kiyosaki has been saying for many years that he does not like mutual funds. He explained in 2019: “Financial planners are minions of banks and mutual funds. They sell you their products, take your money, charge you fees, and make money off of your money.”
Many people on Twitter disagreed with Kiyosaki, telling him that a well-diversified portfolio of stocks, bonds, mutual funds, and ETFs is much less risky than investing in gold, silver, and bitcoin. Some accused the renowned author of pumping BTC for personal gain.
Kiyosaki has been advocating for BTC, gold, and silver for quite some time. He said last December that these three investments could make the owners wealthy when the Federal Reserve prints trillions of dollars. He predicted that gold will be at $5,000 by 2025, silver at $500 and bitcoin at $500,000. Additionally, he expects gold to reach $3800 and silver to hit $75 in the next 12 months. Kiyosaki revealed before that he is a bitcoin trader and investor. That is why he will be excited when BTC hits a new high.
Furthermore, the famous author has been saying repeatedly that he does not trust the Biden Administration, Treasury Department, Federal Reserve, or Wall Street. In many cases, he has warned that there could be dire consequences when the Federal Reserve is destroying the US economy and the US dollar. In October 2021, he tweeted: “I love bitcoin because I don’t trust the Fed, Treasury, or Wall Street.” The creator of Rich Dad, Poor Dad was recently quoted as saying “everything will fall apart” and a depression may be possible. In January, he mentioned that the world is in a recession and warned about rising unemployment, bankruptcies and homelessness.
What do you think about the investing advice from Rich Dad, Poor Dad author Robert Kiyosaki? Please let us know in the comment section.
