Robert Kiyosaki Warns Baby Boomers Will Be ‘Biggest Losers'– Suggest Kids ‘Nudge' Parents To Sell Their Homes And Assets Before It's Too Late
Robert Kiyosaki is nothing if not consistent. The Rich Dad Poor Dad author and self-proclaimed "billionaire in debt" has built a reputation on predicting market doom and if you follow him on X, it feels like every week he's warning of the next big crash. But his latest post takes a sharp turn – even for him.
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Kiyosaki, a staunch real estate investor who famously owns 15,000 properties, is now urging Boomers to sell their homes. Yes, sell. "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," he wrote in his recent post.
Coming from someone who's spent decades preaching the virtues of real estate, this feels like a plot twist. But Kiyosaki isn't one to sugarcoat his opinions and he's clear on who he thinks will take the hardest hit: Boomers. "When the stock market bursts … BOOMERS will be the BIGGEST LOSERS," he warned, adding that their once-untouchable retirement assets – homes, 401(k)s and IRAs – won't be enough to save them.
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Kiyosaki blames the same generation he's warning, arguing that Boomers have had it good for too long. "BOOMERS have been lucky," he said, pointing to how their generation drove up the real estate market in the 1970s and fueled the stock and bond boom with their 401(k)s. But now, he says, their aging population will turn those booms into busts.
If you're the child of a Boomer, Kiyosaki's message gets even bleaker: don't be surprised if your parents come knocking. "Buy gold, silver and Bitcoin now … before your BOOMER mom and dad move in with you … or expect you to pay for their rising health care or funeral costs," he wrote, in his signature blunt style.
This doom level is standard fare for Kiyosaki, who recently claimed the S&P 500 will "toast millions of 401(k)s and IRAs." But even by his standards, calling Boomers to sell their homes is a departure. It's rare to see him suggest abandoning real estate entirely – a sign of how pessimistic he feels about the current market.
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Contrary to Robert Kiyosaki's warnings of an impending housing market crash, many experts maintain a more optimistic outlook. Danielle Hale, chief economist at Realtor.com, asserts, "I don't expect a housing market crash in 2024 as a steady economy and labor market continue to underpin household income and balance sheets."
Similarly, a report from U.S. News & World Report suggests that while home sales may remain constrained due to higher mortgage rates, home prices are expected to hold their value in the short term, with variations depending on local market conditions. These perspectives indicate that, despite concerns, a widespread devaluation of homes is not anticipated in the near future.
Still, Kiyosaki's advice boils down to the same mantra he's been pushing for years: ditch traditional assets and lean into what he calls the "real" safe havens – gold, silver and Bitcoin. Whether you find his warnings insightful or exhausting, one thing's clear: he isn't hedging his bets on a happy ending.
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