U.S. stocks closed sharply lower on the 4th, with the Dow Jones index plummeting over 2,200 points, and the S&P and Nasdaq also tumbling more than 5%. Amid the market's widespread despair, the bestselling author of 'Rich Dad Poor Dad', Robert Kiyosaki, who has long warned of an impending stock market crash, seized this opportunity to reappear and did not forget to add: "I told you so."
Rich Dad: This is the One I Predicted
Rich Dad posted on the social platform X that this historic market crash not only destroyed investors' financial security but particularly impacted the Baby Boomer generation (born between 1946 and 1964) who are either retired or preparing for retirement. He warned that the United States has clearly fallen into an economic recession and may even be heading towards a Great Depression.
I shouldn't say this... because it doesn't feel "cool" to say "I told you so." But I did tell you. In my book 'Rich Dad's Prophecy', I warned that the most severe stock market crash in history would destroy the financial security of millions of investors... especially my generation... the so-called "Baby Boomer generation" (born between 1946 and 1964). This stock market crash has now occurred.
We are absolutely in an economic recession, and very likely... heading towards a Great Depression.
Baby Boomer Generation May Become the Biggest Victims
Kiyosaki emphasized that he repeatedly warned the Baby Boomer generation because they are "out of time," like pilots saying they are "running out of runway". This generation cannot afford the risk of "long-term investments in stocks, bonds, mutual funds, or ETFs" because retirement funds may not have time to recover.
Previously, he had pointed out that the Baby Boomer generation was the first group in the U.S. to rely on "Defined Contribution" (DC) retirement plans like 401(k) and IRA, rather than the "Defined Benefit" (DB) retirement plans used by the post-war generation. During a market crash, this will lead to very different outcomes:
Defined Benefit: Employers must still pay retirement benefits as promised, which is more secure.
Defined Contribution: Retirement funds depend on investment performance, and the market crash could result in total loss.
Recommend Purchasing 'Bit' and Other Real Currencies
Facing future storms, Kiyosaki reiterated his investment advice:
So what can people do? For years, I've advised investing in assets outside of Wall Street. I've long recommended holding real gold, real silver, and now Bit.
Kiyosaki further pointed out that after this paper asset crash, the U.S. Federal Reserve and Treasury are likely to start the printing press, frantically printing trillions of "fake dollars", making these currencies even more fictitious, while real currencies - gold, silver, and Bit - will rise.
Remember, the prices of gold, silver, and Bit are not rising; what's really happening is that the dollar's value is falling, causing all valuable things like food, housing, and energy to become more expensive, which is called "inflation".
He warned that the government and banks are "stealing our wealth" through currency devaluation, a point he has repeatedly emphasized over the years. Kiyosaki's comments once again reflect his consistent view - questioning Wall Street and government systems' false protections for investors, and advocating finding "real currencies" that can preserve value long-term.
For those who still have "a bit of runway" left, he finally reminded:
If you still have "a bit of runway" time, you might want to consider storing real currencies, that is, gold, silver, and Bit. Take care. A severe storm lies ahead.
