(Mike Maharrey, Money Metals News Service) The stock market and the economy have been generally kind to the Boomer generation. But Rich Dad Poor Dad author Robert Kiyosaki has a warning.
“BOOMERS are SOL: When stock market bursts…BOOMERS will be BIGGEST LOSERS.”
A recent report from Allianz asserts that Boomers are the wealthiest generation in history.
“A unique historical situation—strong economic growth, affordable housing markets, and booming equity markets—allowed [boomers] to build up a handsome fortune.”
But Kiyosaki believes that the gravy train is reaching the end of the tracks.
“In 2020s BOOMER’s 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.”
And he insists that “the biggest CRASH” in history is coming.”
Not only are demographics working against us, but the Federal Reserve’s monetary malfeasance has broken the economy beyond repair. Decades of easy money pumped up massive bubbles, incentivized trillions in debt, and created a massive inflation problem. At some point, we will have to pay the proverbial piper.
Kiyosaki isn’t all doom and gloom. He offers a way out for Boomers and everybody who wants to avoid the consequences of the economic meltdown.
“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. “
He wraps up his message with a sense of urgency.
“The biggest CRASH in history is coming. Please be proactive and get rich….before the BOOMER’s go BUST.”
Interestingly, Kiyosaki predicted the recent gold bull run. In October 2023, he posted on X, “Gold will soon break through $2,100 and then take off. You will wish you had bought gold below $2,000. Next stop gold $3,700.”
We’re not there yet – but we’re well over $2,000.
Mike Maharrey is a journalist and market analyst for MoneyMetals.com with over a decade of experience in precious metals. He holds a BS in accounting from the University of Kentucky and a BA in journalism from the University of South Florida.
