2022 is a difficult year for most investors. Stocks tumbled, bonds tumbled, and even benchmark ETFs were in the red.
But the worst may yet to come, according to Rich Dad Poor Dad author Robert Kiyosaki.
“I believe the economy is the biggest bubble in the history of the world,” he wrote on Twitter. “God have mercy on us all.”
Since a lot of financial assets have become cheaper during this market downturn, buying on a drop seems very attractive. But that’s not what Kiyosaki is doing.
“Many of you know I don’t invest in stocks, bonds, ETS or MF. Please DON’T listen to what I’m about to say next: ‘I’m going to get rid of paper assets,'” he said, adding that the world economy “is not a ‘market’.”
Instead, Kiyosaki prefers three real assets to protect. Here’s a look at each one of them.
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Gold and silver
Precious metals – especially gold and silver – have become a popular hedge against inflation and uncertainty. They cannot be printed naturally like fiat money and their value is largely unaffected by economic events in the world.
Kiyosaki has long been a fan of gold – he first bought the yellow metal in 1972.
“I don’t buy gold because I like gold, I buy gold because I don’t trust the Fed,” he said in an interview last year.
Kiyosaki also likes silver. In fact, he recently tweeted “Best Silver Investment October 2022” and “Everybody Can Buy $20 Silver.”
To be sure, precious metals are not immune to the ongoing sell-off this year. Gold prices are actually down about 4% in 2022, while silver prices are down almost 9%.
While there are many ways to get exposure to gold and silver, Kiyosaki prefers to buy metals directly. Earlier this year, he tweeted that he only wanted “real gold or silver coins” and not an ETF.
The author also calls silver a recent “bargain”. So maybe it’s time to visit your local bullion store.
Bitcoin investors have learned the hard way about how volatile it can be.
Last November, bitcoin hit a high of $68,990. Today, it hovers around $16,400.
But Kiyosaki doesn’t seem to mind the crypto downturn.
“BITCOIN? WORRIED? No, he wrote in a tweet earlier this month. “I am a Bitcoin investor as much as I am an investor in physical gold, silver and real estate.”
In fact, he sees the crypto mayhem as an opportunity.
“When BITCOIN hits a new bottom, $10 to $12k? I will be HOT, no worries.”
Kiyosaki believes in bitcoin for the same reason he loves precious metals: distrust of our fiat money system and government.
“I bet against the Fed, Treasury, Biden and bet on [gold], [silver]& Bitcoin,” he explained.
Nowadays, bitcoin mining is very easy: you can buy bitcoins directly. Just keep in mind that many exchanges charge a commission of up to 4% just to buy and sell cryptocurrencies. So look for investment apps that charge low or even zero commissions.
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This article is for information only and should not be construed as advice. It is provided without warranty of any kind.