The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that investing in a well-diversified portfolio of stocks, bonds, mutual funds, and exchange-traded funds (ETFs) is “very risky” advice. “. Kiyosaki emphasized that gold, silver and bitcoin are the best investments for “unsettled times.”
Investing advice from Robert Kiyosaki
Rich Dad Poor Dad author Robert Kiyosaki gave some more investing advice this week. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller list for over six years. More than 32 million copies of the book have been sold in more than 51 languages in more than 109 countries.
Kiyosaki tweeted on Friday:
For years, I’ve been saying, “Saving money and investing in a well-diversified portfolio of stocks, bonds, mutual funds, and ETFs is risky advice.” Today a very risky advice. I still believe that gold, silver, and bitcoin are better for shaky times, even though prices will go up and down.
The famous author previously said, “I don’t love stocks, bonds, mutual funds, or ETFs.” However, he noted that investors should invest in what they love. In April of last year, he called bonds “the riskiest investment” in a global meltdown. “Tragically, novice investors follow the novice advice of a 60 (stocks) 40 (bonds) mix,” he opined, advising investors to buy gold, silver and bitcoin “as insurance against the morons who rule the world.” . He also said in July of last year: “I don’t touch paper gold or silver ETFs. I only want real gold or silver coins.”
As for mutual funds, Kiyosaki has said for several years: “I just don’t like mutual funds. I think they are a scam.” He explained in 2019: “Financial planners are minions of banks and mutual funds. They sell you their products, take your money, charge you fees, and use your money to get rich.”
Many people on Twitter disagreed with Kiyosaki, telling him that a well-diversified portfolio of stocks, bonds, mutual funds, and ETFs is far less risky than investing in gold, silver, and bitcoin. Some accused the famous author of pumping BTC for your personal benefit.
Kiyosaki has been recommending gold, silver and BTC for some time. He said last December that the owners of the three investments will get rich when the Federal Reserve turns over and prints trillions of dollars. He predicted that by 2025, gold will be at $5,000, silver at $500, and bitcoin at $500,000. Also, he expects gold to rise to $3,800 and silver to $75 this year. Kiyosaki previously explained that he is a bitcoin investor, not a trader, which is why he gets excited every time he BTC hit a new bottom.
Furthermore, the renowned author has repeatedly said that he does not trust the Biden administration, the Treasury Department, the Federal Reserve, or Wall Street. He has warned many times that the Federal Reserve is destroying the economy and the US dollar. In October 2021, he tweeted: “I love bitcoin because I don’t trust the Fed, Treasury, or Wall Street.” The author of Rich Dad, Poor Dad recently warned that “everything will fall apart” and a depression is possible. In January, he said that we are in a global recession, and warned of rising bankruptcies, unemployment and homelessness.
What do you think about the investment advice of Rich Dad, Poor Dad author Robert Kiyosaki? Let us know in the comments section.
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