With books and television shows, well-known financial celebrity Robert Kiyosaki—who is credited with founding the ‘Rich Dad’ empire—shares his passionate opinions about the state of the economy and the financial sector in 2024. Kiyosaki provides insightful guidance, emphasizing that investors must overcome obstacles and get ready for a demanding year.
But it’s crucial to remember that Kiyosaki frequently offers advice that defies accepted wisdom, so it should be used with caution. As previously said, Kiyosaki offers the following investment techniques to help you keep more of your money in 2024:
1. The shock to the market
Kiyosaki discusses his worries about the upcoming financial condition in 2024 in a piece published on December 10th, drawing comparisons to the 2008 banking catastrophe. As a preventative step, he suggests getting cash from banks in case of economic unrest. Kiyosaki advises investors to be ready for what may turn out to be one of the greatest crises in history and cautions against risking your life in a Russian roulette game.
2. Give Up on the 60/40 Split
The conventional “balanced portfolio” strategy, which allocates 40% of assets to bonds and 60% to stocks, is questioned by Kiyosaki, who believes it will lead to catastrophe in the upcoming year. He says that during the expected market correction, this traditional allocation could result in large losses.
3. Make Real Estate, Oil, Bitcoin, and Gold Investments
Kiyosaki suggests diversifying investments into assets like gold, bitcoin, real estate, and oil equities as a way to protect against market volatility. He thinks these investments serve as safety nets during hard financial times in addition to acting as a hedge against protracted currency devaluation.
4. The Main Investing Philosophy of Kiyosaki
Kiyosaki is renowned for his distrust of governmental establishments. He promotes making wise investments rather than relying on a large income to create riches. Although historically focused on real estate, current advice suggests allocating 25% of your portfolio to bitcoin. He sees bitcoin as “people’s money,” gold as “God’s money,” and the US dollar as “fake money.”
It’s important to evaluate these insights thoroughly because Kiyosaki’s projections regarding the performance of the market going forward could not always come true. Although many have benefited from his fundamental financial ideas, his precise market predictions should be regarded with a grain of salt because they recognize the inherent difficulty in correctly timing the market.”