Rich Dad Poor Dad author Robert Kiyosaki warns of an imminent economic collapse, urging swift action as baby boomers risk devastating losses in homes, stocks, and bonds.
Robert Kiyosaki: Biggest Crash in History Will Hit Boomers Hard—Act Now
Renowned financial expert and best-selling author Robert Kiyosaki has issued a stark forecast, warning of an imminent economic downturn that he describes as “the biggest crash in history.” Known for co-authoring Rich Dad Poor Dad alongside Sharon Lechter, Kiyosaki’s work has sold over 32 million copies, been translated into 51 languages, and stayed on the New York Times Best Seller list for more than six years.
Sharing his concerns on social media platform X on Monday, Kiyosaki underscored the precarious position of baby boomers. He pointed out that their heavy reliance on conventional retirement assets such as homes, stocks, and bonds leaves them particularly exposed. “When stock market bursts, boomers will be the biggest losers,” he stated, highlighting the potential for significant financial turbulence in the years ahead.
He encouraged younger individuals to assist their parents in reevaluating their investments before market declines worsen, stating:
If I were a child of a boomer, I would nudge my parents to sell their home, stocks, and bonds now, while prices are high, before the crash that is coming … and 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.
Outlining broader economic risks, Kiyosaki linked the aging of the baby boomer generation to shifting market dynamics, which he believes could spark widespread collapses. “In 2020’s boomers’ old age will cause real estate and stock and bond market bust. I am a boomer born in 1947. I am not counting on my home to be an asset, or a 401(k) or IRA to keep me alive in retirement,” he remarked, signaling a lack of faith in traditional retirement strategies.
In his most urgent appeal, Kiyosaki pressed for immediate action, predicting severe economic fallout if steps aren’t taken to prepare. He wrote:
The biggest crash in history is coming. Please be proactive and get rich … before the boomers go bust.
Kiyosaki has predicted market crashes several times in the past. One of his recent warnings highlights concerns over an “Everything Bubble,” fueled by excessive money printing and high levels of debt. The famous author has criticized the Federal Reserve’s monetary policies, suggesting they have created unsustainable economic conditions. Despite his dire predictions, he advises individuals to prepare by investing in “real” assets like gold, silver, and bitcoin, which he views as safer options during a potential financial collapse.