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Robert Kiyosaki warns baby boomers will be ‘biggest losers’ – suggests children are ‘nudging’ their parents to sell their homes, stocks and bonds ‘now’
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Robert Kiyosaki warns baby boomers will be ‘biggest losers’ – suggest children persuade their parents to sell their homes and assets before it’s too late
Robert Kiyosaki is absolutely consistent. The Rich Dad Poor Dad author and self-proclaimed “Billionaire in debt“has earned a reputation for predicting the market’s demise, and if you follow it
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Kiyosaki, a staunch real estate investor who is known to be an owner 15,000 propertiesis now pushing baby boomers to sell their homes. Yes, sell. “If I were a BOOMER’s child…I would encourage my parents to sell their house, stocks and bonds now…while prices are high…before the impending CRASH,” he wrote in his recent post.
Coming from someone who has preached the virtues of real estate for decades, it seems like a plot twist. But Kiyosaki isn’t the type to sugarcoat his opinion, and he’s clear about who he thinks will be most affected: Boomer. “If the stock market crashes … boomers will be the biggest losers,” he warned, adding that their once-untouchable retirement assets — homes, 401(k)s and IRAs — won’t be enough to save them.
Kiyosaki blames the same generation he warns against, arguing that baby boomers have had it good for too long. “BOOMERs got lucky,” he said, pointing to how their generation drove up the real estate market in the 1970s and fueled the stock and bond boom with their 401(k)s. But now, he says, the aging population will turn those upswings into downturns.
If you’re the child of a boomer, Kiyosaki’s message becomes even darker: Don’t be surprised if your parents come knocking. “Buy gold, silver and Bitcoin now… before your BOOMER mom and dad move in with you… or expect to pay for mounting healthcare or funeral costs,” he wrote in his signature blunt style.
This level of doom is standard for Kiyosaki, who recently claimed that the S&P 500 will “Toast millions of 401(k)s and IRAsBut even by his standards, asking boomers to sell their homes is a turnoff. It’s rare for him to suggest giving up real estate altogether – a sign of how pessimistic he is about the current market.
In contrast to Robert Kiyosaki’s warnings of an impending housing market collapse, many experts remain more optimistic. Danielle Hale, chief economist at Realtor.com, assures: “I do not expect a housing market collapse in 2024 as a stable economy and labor market continue to support household incomes and balance sheets.”
Similarly, a report from US News & World Report suggests that while home sales may remain constrained due to higher mortgage rates, home prices are expected to retain value in the near term, with fluctuations depending on local market conditions. These prospects suggest that, despite concerns, a widespread devaluation of residential real estate is not expected in the near future.
Still, Kiyosaki’s advice boils down to the same mantra he’s been promoting for years: ditch traditional assets in favor of what he calls “real” safe havens — gold, silver and Bitcoin. Whether you find his warnings insightful or exhausting, one thing is clear: he’s not going for a happy ending.
