With financial jitters spreading, Robert Kiyosaki's recent comments have struck a chord with many. On Aug. 2, he bluntly posted on X, "As many have warned ... the stock market crash has arrived. Losses are substantial." He added, "Rich dad taught his son and me that when markets are crashing is the time the rich get richer .... buying assets at bargain basement prices."
Don't Miss:
According to Cathie Wood, holding 6 Ethereum (ETH) could make you a millionaire, here’s why it can be true.
1 in 4 Americans own a share of Bitcoin according to NASDAQ, how many people got started through this free crypto faucet?
If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it?
Two days later, on Aug. 4, he doubled down, offering a brash piece of advice: "Crashes are times when the brave get richer and the cowards get poorer ... because they sell or do nothing." He put it in Kiyosaki's true style: “The world is filled with poor cowards." His perspective is clear – panic selling during a downturn is a mistake. It's the perfect time to swoop in and buy.
Kiyosaki is a firm believer in investing in "crash-proof" assets. Real estate and precious metals top his list as safer bets when the market is in turmoil. But he doesn't think you should run from stocks altogether. His main advice? Stay cool, don't let fear drive your decisions, and be on the lookout for deals. In his eyes, a market crash isn't a disaster – it's a clearance sale. He's urging people to see beyond the chaos and consider the long-term wealth-building potential of buying low.
Trending: Stuck trading at business hours? This platform empowers retail investors with 24-hour trading access to manage your financial future whenever it suits you.
The author has repeatedly warned of an impending market crash and many experts have questioned the accuracy of his advice, even saying he is "right like a broken clock." While people may find him to be a bit extreme or overly negative, some may prefer to be a little cautious regarding the market. No one can predict with total accuracy what will happen next. When investing, there's always a risk. However, only you can decide what level of risk you're comfortable with.
Even Warren Buffett said in a 2018 CNBC interview, "If you're going to do dumb things because your stock goes down, you shouldn't own stock at all." He believes in treating investments like long-term businesses.
See Also: Don’t miss out on the next Nvidia – you can invest in the future of AI for only $10.
Kiyosaki's advice stands out because it challenges the typical fear-driven response to market downturns. Instead of retreating, he suggests leaning in and taking advantage of the situation. His confident, no-nonsense style and his focus on strategic buying during crashes make his message compelling to those looking to navigate these uncertain times with a level head.
Although Kiyosaki is hardly known for his optimism, his take on the market is a little rosier than some experts. For example, "Bond King" Bill Gross recently posted on X, "Investors should stop talking about buying the dip and start asking about selling recoveries." If you're unsure what move is best, consider consulting with a financial advisor to review your best options.
Read Next:
These five entrepreneurs are worth $223 billion – they all believe in one platform that offers a 7-9% target yield with monthly dividends
"ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!
Get the latest stock analysis from Benzinga?
This article 'Crashes Are When The Brave Get Richer And The Cowards Get Poorer' – Robert Kiyosaki Urges Invest Now At 'Bargain Basement Prices' originally appeared on Benzinga.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.