Robert Kiyosaki, the influential author of Wealthy Dad Impoverished Dad, recently issued a stark warning to his followers regarding the current investment climate on X (formerly Twitter).
He characterized the current era as emerging “weird” and advised individuals to exercise caution when considering advice from apparently credible sources. Kiyosaki’s message is clear: not all advice is beneficial, especially in a market where eccentricity can result in bad investments.
Kiyosaki: The dangers of misleading advice
Kiyosaki’s warning is based on a personal anecdote about Iraqi dinars. He described how a woman approached a friend and recommended investing in these dinars, stating that “Jesus told me to tell everyone that Iraqi dinars are the safest and best.”
When times get weird… a strange turn to the professional.
A friend was offered an investment in Iraqi dinars. I know nothing about the investment potential of Iraqi dinars.
WIERD is the person who proposed the transaction.
She said, “Jesus told me to tell everyone that the Iraqi…
— Robert Kiyosaki (@theRealKiyosaki) September 30, 2024
This unconventional endorsement led Kiyosaki to emphasize the importance of evaluating the source of financial advice. In uncertain times, even well-meaning advice can lead investors astray, he said: “Be extremely careful” about who you deal with.
Many people today navigating an increasingly sophisticated financial environment will find his comments resonant. As a result, the likelihood of falling for false recommendations increases as more people utilize social media platforms for investment advice.
Kiyosaki’s admonition serves as a reminder that mere claims of divine inspiration do not necessarily mean that the advice they give is sound.
BTCUSD trading at $61,713 on the daily chart: TradingView.com
Changing the investment strategy
However, he continues to call for a systemic change in investment using these warnings. He believes that the senior 60/40 formula of stocks and bonds is old-fashioned and flawed.
It recommends investors invest 75% of their portfolios in gold, silver and gold Bitcoin keeping the remaining 25% in real estate and oil stocks. His motive is to create a hedge against what he believes will be one of the worst financial disasters in history associated with this diversification.
Robert Kiyosaki. Image: Up-to-date Trader U
What is unique about Kiyosaki’s belief in Bitcoin is that he believes that by 2030, the price of the coin will reach $1 million. He wants his followers to start accumulating Bitcoin and precious metals now. He argues that such assets will act as a secure haven when national currencies fall.
Preparing for uncertain times
Kiyosaki warns that the future may not look bleak for money as we know it. Highlights the potential impact of advances in artificial intelligence on global finance. He believes that artificial intelligence has the potential to significantly disrupt conventional financial systems and contribute to economic shocks.
Kiyosaki advises against investing in bonds or holding money in anticipation of impending turmoil. Rather, he suggests focusing on concrete assets, such as real gold and silver coins, that can be used as cash in times of crisis. His outlook indicates growing sentiment among investors seeking stability in the face of uncertainty.
Featured image from early Christian texts, chart from TradingView