Robert Kiyosaki, known for his bestseller “Rich Dad Poor Dad,” often takes to social media to sound the alarm on the financial health of the economy.
He’s vocal about his belief in an impending economic collapse or significant recession, urging his followers to brace themselves for tough times ahead.
Kiyosaki’s recent post on X dives into the commercial real estate crisis, spotlighting the collapse of a major bank in China as a sign of broader troubles, especially for office buildings in both China and the U.S.
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He points out that China’s big banks are feeling the heat, and so is the U.S. commercial real estate market. This spells trouble for baby boomers, many of whom have invested in real estate investment trusts (REITs).
Kiyosaki, who isn’t shy about calling these investments “fake assets,” said, “Boomer retirement plans are filled with these fake assets. Boomers retirements are going broke as paper assets crash.”
He’s all about tangible assets, like gold, silver and Bitcoin, steering clear of anything that smacks of being overly paper-based or speculative.
For example, Realty Income Corp. (NYSE:O), an S&P 500 company and a member of the S&P 500 Dividend Aristocrats® index, is one of the most well-known REITs. Despite being a big name, it’s not immune to the market’s downturn, with its share price taking hits over the last year.
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Diverging from traditional real estate investments, companies like Arrived Homes, have been gaining attention with backing from big names like Jeff Bezos. It’s a fresh take on real estate investing, allowing anyone to buy shares in single-family rental properties.
This means anyone can own a piece of the pie without needing to buy a whole property outright. It’s a tangible asset, right up Kiyosaki’s alley, but with a modern twist. Arrived Homes offers a way to diversify and get into real estate with less upfront cash, making it a secure option against the backdrop of Kiyosaki’s dire warnings.
Kiyosaki’s advice is to prioritize “real” over “fake” assets, suggesting a strategic way to safeguard financial health in uncertain times. This perspective highlights the importance of tangible investments in navigating the complexities of today’s real estate market.
He ends the post saying that he doesn’t “trust anything that can be printed. Go real….Get real. Take care.”
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This article Rich Dad, Poor Dad’s Robert Kiyosaki Cautions Boomers Are At Risk Of Going Broke As Their Retirement Accounts Full Of ‘Fake Assets’ Plunge originally appeared on Benzinga.com
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Jessica Roberts is a seasoned business writer who deciphers the intricacies of the corporate world. With a focus on finance and entrepreneurship, she provides readers with valuable insights into market trends, startup innovations, and economic developments.
