Robert Kiyosaki, author of “Rich Papa's Poor Daddy,” says the “biggest stock market crash” that he predicted in his 2014 book, “Rich Papa's Prophecy,” has arrived.
In a recent X-Tweet, the financial guru highlighted what he considers as a fundamental vulnerability in modern retirement systems. Kiyosaki compared today's defined contribution (DC) pension plans, such as the 401(k) and IRA, with the safer defined benefit (DB) plans with previous generations.
“In a market crash, the DB pension plan must be paid as promised to investors. In a market crash, the DC pension plan is only necessary to pay what the investors have contributed. Only if something remains after the market crashes,” Kiyosaki explained.
Financial educators attribute the vulnerability to the failure of the education system, and “there is a lack of reliable financial education. He characterized the current financial system as a “corrupted criminal financial ponzi scheme.”
Kiyosaki: I buy gold, silver and bitcoin
Kiyosaki's solutions focus on ownership of physical assets. He especially urged investors to “own real gold, silver and bitcoin.”
Kiyosaki also advised ETF investments in these assets, taking into account “fakes just like US dollars and US bonds” to invest in these assets.
His bullish stance on Bitcoin (BTC) has been intensified by the Trump administration's cryptocurrency initiative. In a previous tweet, Kiyosaki emphasized the importance of Trump's Bitcoin strategic reserve proposal and exemplifies leadership.
It is noteworthy that many leaders in the cryptocurrency sector, including Solana (SOL), co-founder Anatoly Yakovenko, are skeptical of the reserves.
Kiyosaki has been particularly critical of those who dumped Bitcoin during recent market volatility.
“The people who sold Bitcoin in the last crash are losers,” he said frankly.
