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Robert Kiyosaki warns that baby boomers will be the ‘biggest losers’ – advises parents to sell their homes and assets before it’s too late
Robert Kiyosaki is nothing if not consistent. Rich Dad Poor Dad author and self-proclaimed “Billionaires in debt” has built a reputation on predicting market doom and if you follow him on X, it feels like every week he’s warning of the next big crash. But his latest post takes a sharp turn. takes – even for him.
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Kiyosaki, a serious real estate investor who is a famous owner 15,000 propertiesNow urging boomers to sell their homes. Yes, sell. “If I were a baby boomer … I would force my parents to sell their house, stocks and bonds now … while prices are high … before the coming crash,” he wrote in his latest post. . .
Coming from someone who has spent decades preaching the virtues of real estate, this feels like a plot twist. But Kiyosaki isn’t one to mince words and he’s clear on who he thinks will take the hardest hit: the boomers. “When the stock market explodes … boomers will be the biggest losers,” he warned, warning that their once-untouchable retirement assets — homes, 401(k)s and IRAs — won’t be enough to save them. will be
Kiyosaki blames the very generation he’s warning against, arguing that boomers have had it good for too long. “Boomers have been lucky,” he said, noting how his generation rode the real estate market in the 1970s and fueled the stock and bond boom with their 401(k)s. But now, he says, their aging population will turn those booms into busts.
If you’re the child of a boomer, Kiyosaki’s message becomes even more blunt: Don’t be surprised if your parents knock. “Buy gold, silver and bitcoin now … before your boomer mom and dad move in with you … or expect you to pay for their increasing health care or funeral expenses,” he wrote in his signature post. Written in a blunt style.
This doom level is standard fare for Kiyosaki, who recently claimed that the S&P 500 “Toast millions of 401(k)s and IRAs“But even by his standards, it’s a departure to call on boomers to sell their homes. It’s rare to suggest he abandon real estate altogether — an indication of how pessimistic he feels about the current market.
Contrary to Robert Kiyosaki’s warnings of an impending housing market crash, many experts take a more optimistic view. “I do not expect a housing market crash in 2024 as a stable economy and labor market underpins household incomes and balance sheets,” asserts Daniel Hale, chief economist at Realtor.com.
Similarly, a report by U.S. News & World Report suggests that while home sales may remain limited due to high mortgage rates, home prices may appreciate in the short term, with variations based on local market conditions. is expected to hold These outlooks indicate that, despite concerns, a widespread decline in housing is not expected in the near future.
Still, Kiyosaki’s advice boils down to the same mantra he’s been pushing for years: abandon traditional assets and lean toward what he calls “real” safe havens — gold, silver and bitcoin. Whether you find his warnings sane or tiresome, one thing is clear: He’s not betting on a happy ending.
