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Robert Kiyosaki warns that baby boomers will be the ‘biggest losers’: suggests children ‘push’ their parents to sell their homes and assets before it’s too late
Robert Kiyosaki is nothing if not coherent. The Rich Dad Poor Dad author and self-proclaimed “indebted billionaire” has built a reputation predicting market doom, and if you follow him on X, it seems like every week he’s warning about the next big crash. But his latest post takes a sharp turn, even for him.
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Kiyosaki, a stalwart real estate investor who owns 15,000 properties, is now urging boomers to sell their homes. Yes, sell. “If I were the child of a BOOMER…I would encourage my parents to sell their house, stocks and bonds now…while prices are high…before the CRASH to come,” he wrote in his recent post. .
Coming from someone who has spent decades preaching the virtues of real estate, this seems like a plot twist. But Kiyosaki is not one to sugarcoat his opinions, and he is clear about who he believes will be most affected: boomers. “When the stock market explodes…the 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.
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Kiyosaki blames the very generation he is warning, arguing that Boomers have had it too long. “The BOOMERS have been lucky,” he said, noting how his generation boosted the housing market in the 1970s and fueled the boom in stocks and bonds with their 401(k) plans. But now, he says, its aging population will turn those booms into busts.
If you’re the child of a Boomer, Kiyosaki’s message becomes even more somber: Don’t be surprised if your parents knock on your door. “Buy Gold, Silver and Bitcoin now… before your BOOMER mom and dad move in with you… or expect you to pay for their rising healthcare or funeral costs,” he wrote, in his characteristic blunt style .
This level of doom is par for the course for Kiyosaki, who recently stated that the S&P 500 “will provide millions to 401(k)s and IRAs.” But even by their standards, calling on Boomers to sell their homes is a change. It’s rare to see him suggest abandoning real estate entirely, a sign of how pessimistic he feels about the current market.
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Contrary to Robert Kiyosaki’s warnings about an imminent housing market crash, many experts maintain a more optimistic outlook. Danielle Hale, chief economist at Realtor.com, says, “I don’t expect a housing market downturn in 2024, as a stable economy and job market continue to support household incomes and balance sheets.”
Similarly, a report from US News & World Report suggests that while home sales may remain limited due to higher mortgage rates, home prices are expected to hold their value in the near term, with variations depending of local market conditions. These perspectives indicate that, despite concerns, a widespread devaluation of housing is not expected in the near future.
Still, Kiyosaki’s advice boils down to the same mantra he’s been pushing for years: ditch traditional assets and lean into what he calls the “real” safe havens: gold, silver and Bitcoin. Whether you find his warnings enlightening or exhausting, one thing is clear: He’s not betting on a happy ending.
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