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Robert Kiyosaki warns baby boomers will be the ‘biggest losers’ Suggest that your child’s ‘nudge’ parents sell their home and assets before it’s too late.
Robert Kiyosaki is nothing if not consistent. Author of ‘Rich Dad, Poor Dad’ and self-proclaimed ‘Rich Dad, Poor Dad’billionaire in debt” has built a reputation for predicting market doom, and following him at
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Kiyosaki is famous as a real estate investor. 15,000 propertiesBoomers are now being urged to sell their homes. Yes, I sell it. “If I were a BOOMER kid… I would encourage my parents to sell their houses, stocks and bonds now while prices are high… before the coming crash,” he wrote in a recent post. .
Coming from 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. This is the baby boomer generation. “When the stock market blows…boomers will be the biggest losers,” he warned, adding that their once-untouchable retirement assets – homes, 401(k)s and IRAs – won’t be enough to save them. Yes.
Kiyosaki argues that Boomers have had the good life for too long, blaming the same generation he warns against. “Boomers were lucky,” he said, pointing out how their generation drove the real estate market in the 1970s and fueled the stock and bond boom through 401(k)s. But now he says the aging population will cause that boom to collapse.
If you’re a child of the boomer generation, Kiyosaki’s message becomes even more bleak. Don’t be surprised if your parents knock on your door. “BUY GOLD, SILVER, AND BITCOIN NOW… BOOMER MOM AND DAD BEFORE THEY MOVE IN WITH YOU… OR BEFORE THEY EXPECT YOU TO PAY FOR THEIR RUNNING MEDICAL OR FUNERAL COSTS,” he said in his characteristically blunt style. I wrote it.
This level of ruin was recently reached by the S&P 500.Toast to millions of 401(k)s and IRAs.” But by his standards, asking boomers to sell their homes is an aberration. He rarely suggests giving up real estate entirely, a sign of how pessimistic he is about the current market.
Contrary to Robert Kiyosaki’s warning that a housing market collapse is imminent, many experts remain more optimistic. Danielle Hale, chief economist at Realtor.com, argues that “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.”
Likewise, according to a report from U.S. News & World Report, home sales may still be constrained by rising mortgage rates, but home prices are expected to hold their value in the near term, although this may fluctuate depending on local market conditions. This view indicates that, despite concerns, widespread devaluation of homes is not expected in the near future.
Still, Kiyosaki’s advice boils down to the same mantra he’s been promoting for years. That means abandoning traditional assets and relying on what he calls “real” safe havens: gold, silver and Bitcoin. Whether his warnings are insightful or wearisome, one thing is clear: He’s just not willing to risk a happy ending.
