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Robert Kiyosaki warns that baby boomers will be the 'biggest losers' - Advising parents of children to sell their homes and assets before it's too late.
Robert Kiyosaki is nothing if not persistent. Rich Dad Poor Dad is a self-proclaimed author.billionaire in debt" has built a reputation for predicting market crashes, and if you follow him on X, it seems like he's warning about the next big crash every week. But his latest post takes a sharp turn for him, too.
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Kiyosaki is a well-known real estate investor 15,000 propertiesnow urging Boomers to sell their homes. Yes, for sale. "If I were a BOOMER child...I would be pushing my parents to sell their homes, stocks and bonds right now...while prices are high...before the crash," he wrote in a recent op-ed. .
For someone who has spent decades preaching the virtues of real estate, this seems like a plot twist. But Kiyosaki isn't one to mince words, and it's clear who will be hit the hardest: Boomers. "When the stock market implodes ... the BOOMERS will be the biggest victims," he warned, adding that their untouched retirement assets -- homes, 401(k)s and IRAs -- won't be enough to bail them out.
Kiyosaki blames the generation he's warning against, arguing that Boomers have had it good for too long. "BOOMERS were lucky," he says, referring to how their generation boomed the real estate market in the 1970s and fueled a boom in stocks and bonds with their 401(k). But now their aging populations will turn those gains into declines, he said.
If you're a Baby Boomer, Kiyosaki's message is even murkier: don't be surprised when your parents come knocking. "Buy gold, silver, bitcoin now ... before your BOOMER mom and dad move in with you ... or hopefully pay for their health care or funeral," he wrote in his signature blunt style.
This extinction level is Kiyosaki's standard fare, which the S&P 500 recently announced.toast millions of 401(k)s and IRAs." Yet even by his standards, urging Boomers to sell their homes is a let-down. It's rare that he suggests letting go of real estate entirely, a sign of his pessimism about the current market.
Against the housing market crash that Robert Kiyosaki is warning of, many analysts are more optimistic. "I don't expect the housing market to crash in 2024, given the solid economy and labor market," said Daniel Hale, chief economist at Realtor.com.
Similarly, U.S. News & World Report reports that while home sales remain limited due to high mortgage rates, home prices are expected to hold their value in the short term due to local market conditions. While these outlooks are worrisome, they also suggest that widespread housing devaluations are not expected in the near future.
Kiyosaki's advice, however, echoes the mantra he's been pushing for years: ditch traditional assets and move toward so-called "true" safe havens: gold, silver, and bitcoin. Whether you find his warning insightful or tired, one thing's for sure: he's not betting on a happy ending.
