Robert Kiyosaki, a well -known financial advisor and author of Rich Dad, a poor dad, is not known for being ashamed of the distribution of monetary advice. He often takes social media, namely X to share pathetic, on the spot takes over the economy. Here are his most recent recommendations for personal finances for the Baby Boomer generation.
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Kiyosaki suggests that market collapses can delete some traditional income streams that boomers can rely on self -retirement. The key here is to actively approach everything that can be unfolded and to adjust your financial plans to anticipate the coming changes.
Instead of relying solely on 401 (k) or individual pension account (IRA) for financial independence, boomers should consider focusing on increasing their savings and developing new income streams that do not rely so much on the general economic results.
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Kiyosaki does not make a secret that we think we have focused on a historical catastrophe on the stock exchange. If right, traditional investment vehicles depend on the fact that they can change from safe shelters to risky bets overnight.
Kiyosaki says traditional buying assets can become unreliable in a significant market decline. Walking retirees will want to plan in advance by examining what they are currently invested in and make appropriate changes while they have time.
This one may surprise some people, but Kiyosaki recommends getting out of real estate while receiving is good. Although housing prices may be of all time, it is another market that Kiyosaki sees that it will appear in the near future.
“I do not rely on my home to be an asset,” he says, suggesting that these traditional retirement investments should be sold now while prices are still high. This can be a difficult swallowing pill for a generation that rewards home property and is resistant to hiring, but the tips come from Kiyosaki’s conviction that the housing bubble will pop up.
Precious metals are often considered to be wise investment opportunities for uncertain market conditions, and Kiyosaki recommends that boomers be careful and redirect their savings for this type of essential assets.
It also offers investment in Bitcoin, and although cryptocurrency is still a relatively new investment option, Kiyosaki believes that it can provide more return and more growth opportunity. Although crypto investments may not be for a weak heart, they may offer protection from the crash that Kiyosaki predicts, especially if other investors move their assets to Bitcoin as well.