Robert Kiyosaki Warns About Stocks, Bonds, Mutual Funds — Says Bitcoin Best for ‘Unstable Times’
Noted best-selling author of Rich Dad Poor Dad, Robert Kiyosaki, 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 in “unstable times”.
Investment advice by Robert Kiyosaki
Rich Dad Poor Dad author Robert Kiyosaki gave some more investment advice this week. Rich Dad Poor Dad is a 1997 book co-written by Kiyosaki and Sharon Lecter. It was on the New York Times bestseller list for over six years. The book has sold over 32 million copies in over 51 languages in over 109 countries.
Kiyosaki tweeted on Friday:
For years, I’ve said, “Saving money and investing in a well-diversified portfolio of stocks, bonds, mutual funds, and ETFs is risky advice.” Very risky advice today. I still believe that gold, silver and bitcoin are best suited for volatile times, although prices will rise and fall.
A famous author previously said, “I don’t like stocks, bonds, mutual funds, or ETFs.” However, he noted that investors should invest in what they love. Last April, he said bonds were “the riskiest investment” amid the global crisis. “Unfortunately, novice investors are following the advice of newbies: 60 (stocks) and 40 (bonds) combinations,” he opined, recommending investors to buy gold, silver and bitcoin “as insurance against the idiots who rule the world.” He also said last July, “I don’t touch paper gold or silver ETFs. I only want real gold or silver coins.”
When it comes to mutual funds, Kiyosaki has been saying for several years, “I just don’t like mutual funds. I think they are plagiarism.” In 2019, he explained, “Financial planners are the henchmen of banks and mutual funds. They sell you their products, take your money, charge you a fee, and use your money to get richer.”
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 his personal benefit.
Kiyosaki recommended gold, silver and BTC for quite some time. He said last December that the owners of the three investments would get richer when the Federal Reserve rolled around and printed trillions of dollars. He predicted that by 2025, gold will be worth $5,000, silver $500, and bitcoin $500,000. In addition, 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 whenever BTC hits a new bottom.
Moreover, the well-known author has repeatedly stated that he does not trust the Biden administration, the Treasury Department, the Federal Reserve or Wall Street. He has warned many times that the Fed 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 collapse” and depression is possible. In January, he said we were in a global recession, warning of skyrocketing bankruptcies, unemployment and homelessness.
What do you think of the investment advice of Robert Kiyosaki, author of Rich Dad Poor Dad? Let us know in the comments below.
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