Kiyosaki Advises Side Businesses And Claims That Bitcoin Might Protect Money “As The Economy Crumbles”
Robert Kiyosaki, the author of the personal finance book “Rich Dad, Poor Dad” has reaffirmed his prediction of a potential economic meltdown and warned that wealth is at risk.
In a tweet on October 13, Kiyosaki stated that while Bitcoin (BTC) is among the assets that are likely to protect wealth, he cautioned that in the case of an economic catastrophe, the asset wouldn’t serve as a buffer for earnings.
In this sentence, the author advised finding a side business to serve as a backup source of income in case the economy tanked.
“Gold, silver, Bitcoin may protect your WEALTH…but not your INCOME. As economy crashes, stock markets go bust, pensions crash and unemployment rises a SIDE HUSTLE may provide you income. Who knows? Your side hustle may grow into the next Amazon or Bitcoin. Take care. Be aware,” he said.
Caution against real estate investments-Kiyosaki
At the same time, Kiyosaki cautioned against investing in real estate, noting that taxes are likely to be raised with properties depreciating in value in the wake of hiking interest rates.
“Why I NO LONGER recommend REAL ESTATE. In my 2022 book Capitalist Manifesto, I stated Marxist took over the US in the 2020 election. Marxists will raise property taxes, impose rent controls, as rising interest rates decrease property values. I recommend gold, silver, Bitcoin,” he said.
Kiyosaki’s most recent stance is consistent with his long-held belief that the economy will fall soon and that the Federal Reserve’s policies are to blame for containing the spiraling inflation.
Possible dollar collapse
Kiyosaki has promoted precious metals and predicted that the dollar will most certainly drop in the first quarter of 2023. He predicted that silver will rise to $500 while pointing out that it might be a superior alternative to the dollar.
Furthermore, according to Kiyosaki, the efforts of the world’s central banks to combat inflation have raised doubts about the reliability of traditional finance investment products. As a result, he has referred to cash, stocks, and bonds as being toast.
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