Robert Kiyosaki has told people to get rid of their paper assets and think about buying real gold.
Robert Kiyosaki, a well-known author and economist, has said that the economy today is the “biggest bubble in world history.”
The co-author of the best-selling personal finance book “Rich Dad, Poor Dad” has told investors to get rid of their paper assets.
Most investors haven’t had much to cheer about this year because the financial markets have been very volatile. Stocks and bonds have fallen, and even broad benchmark exchange-traded funds (ETFs) have gone deep in the red.
During the current market downturn, the prices of many financial assets have gone down, but some investors are taking risks in hopes of making money. But Kiyosaki thinks the worst is yet to come and warns people not to give in to these kinds of temptations.
The author has told people to “hold on to your money” and told them what he does with his own money. “Many of you know that I don’t put money into stocks, bonds, ETFs, or mutual funds. Please don’t listen to what I’m about to say: “I would get out of paper assets,” he said, adding that the world economy “is not a market.”
Instead, he says that you should look at precious metals as a way to protect yourself from market volatility and inflation. He says that their value is more stable, even though it isn’t completely immune to economic uncertainty.
Kiyosaki said in an interview last year, “I don’t buy gold because I like gold.” “I buy gold because I don’t trust the Fed.” He likes to invest in gold and silver by buying “real gold or silver coins” instead of exchange-traded funds (ETFs).
