'Rich Dad, Poor Dad' Author Robert Kiyosaki Warns This Classic Approach Will Sink Investors And Recommends These Assets To Survive 'Greatest Crash'

“Rich Dad, Poor Dad” author Robert Kiyosaki, who has been warning of a stock market crash, handed down some investment advice in a post on X, formerly Twitter, on Sunday.

What Happened: Investors will be the biggest losers if they choose to go with the conventional wisdom of investing 60% in bonds and 40% in stocks, in 2024, said Kiyosaki. “Before going down with the ship consider a shift to 75% Gold, Silver Bitcoin BTC/USD, 25% real estate/oil stocks,” the best-selling author said.

“This mix may allow you to survive the greatest crash in world history. Good luck,” he added.

See Also: Best Depression Stocks

Why It’s Important: After a solid performance until July, the equity market saw a setback in August and September, in line with the historical trend. The selling continued into October as the Israel-Hamas conflict in the Middle East sapped the risk appetite of traders.

Gold has had a solid October, riding on its safe-haven appeal. On Friday, gold futures for December delivery closed above $2,000. Peter Schiff, a prominent gold bull, said on Friday that gold may never trade below $2,000 again.

Cryptocurrencies, which have either moved in tandem with equities or have been slightly underperforming this year, received a lift from the news of the SEC potentially approving a spot exchange-traded fund. If an approval comes through, the cryptos, including Bitcoin, could take off, at least in the near term.

A market recovery primarily hinges on the U.S. Federal Reserve ending its rate-hike campaign and beginning to reverse the string of rate hikes it began in March 2022. The inflation, however, has remained stubborn, preventing the Fed from taking its foot off the pedal. Analysts also fear the lagging impact the successive Fed rate hikes may have on the economy, although consumer spending and the job market have remained resilient so far.

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Photo: Gage Skidmore via flickr