Finacial advisor and author of Rich Dad, Poor Dad, Robert Kiyosaki has some major advice for investors. He has warned of a market crash in 2024. He went on to refer to investors who invest in bonds and stocks as “Ship of fools”
Taking to X(formerly Twitter) on Sunday, Kiyosaki wrote, “SHIP of FOOLS. Forever and ever financial experts have promoted the idea “Smart Investors invest in 60/40 60% bonds 40% stocks. In 2024 60/40 investor will be biggest losers.”
In order to avoid loss, Kiyosaki suggested to invested 75% in gold, silver, bitcoin and make 25% investment in real estate/oil stocks. He warned of an upcoming great crash.
“Before going down with the ship consider a shift to 75% Gold, Silver, Bitcoin 25% real estate/oil stocks. This mix may allow you to survive the greatest crash in world history. Good luck. Take care,” he added.
According to a report by Benzinga, given the rising value of gold, they quoted a prominent gold bull, Peter Schiffas as saying that gold may never trade below $2,000 again.
ALSO READ| How a janitor from Vermont swept up wealth following Warren Buffett’s footsteps
Here’s how netizens reacted to Kiyosaki’s post
“The 60/40 advice was good in the 1960’s, times are changing and the US is going deeper in debt,” wrote one user.
“I read his book Rich Dad Poor Dad. Thank you very much for the knowledge you share. and now I’m still buying bitcoin,” posted another user.
“It’s wise to spread bets, not just on stocks and bonds,” commented a third person.
“Whenever someone says ‘forever and ever’ and proceeds to explain my eyes glaze over. But yes, it would prob be a good idea to follow this suggestion to some extent,” tweeted a fourth user.
“The biggest collapse in world history! Thanks for the advice!,” wrote a fifth one.