American entrepreneur and business owner Robert Kiyosaki said in an interview, "America is going to be the poorest country in the world, starting now."
Kiyosaki, known for his book "Rich Dad Poor Dad," was interviewed on a podcast while he was in India for Growth Summit India 2023. He talked about visiting Mumbai during this trip, saying, "I always go to slums. So, this time, I went to the slums of Mumbai. And I'm looking at, talking to people. But what shocked most people was that America had never had slums like that. Today, slums are everywhere across America."
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He added, "The slums of Mumbai are spreading across America," and "San Francisco used to be the most beautiful city in America in my opinion ... I worked in San Francisco and all that. Now, you don’t walk in the streets because it’s like the slums of Mumbai."
In more than an hour-long discussion, Kiyosaki discussed many different topics. For instance, he compared the U.S. dollar to toilet paper and called fiat currency fake, saying, "This is toilet paper, and our schoolteachers will never tell us this because the schoolteachers are Marxists. They're good people."
He added, "Everybody who works for dollars, yen, pesos, rupee – this is fake. Stupid people work for this stuff."
When he later shared his thoughts on inflation, he pointed out, “There's inflation right now in America. I'm sure it's here too. Many people can't afford to eat anymore; it has become expensive. The homeless people in America, some of them are on drugs, obviously, but a lot of them just can't afford a house."
Kiyosaki's Favorite Investments
Kiyosaki said he holds about 60 Bitcoins but warned crypto enthusiasts that "you are messing with the federal government." On the other hand, he strongly supports investing in assets like gold and silver.
He also mentioned that "Being a capitalist, I own gold mines, and I own silver mines. So when the dollar crashes, I get richer."
Nevertheless, investors have several options to gain exposure to precious metals. Osisko Gold Royalties Ltd (NYSE:OR) acquires and manages precious metal royalties, allowing the company to earn a percentage of the revenue from mines worldwide. The benefit of investing in Osisko Gold Royalties instead of bullion is that the company pays a dividend with a 0.97% annual yield.
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Real estate is another of Kiyosaki's favorite investment classes. When asked whether to buy or rent a house, the American business owner said he owns 15,000 houses.
Retail investors can add real estate to their portfolios without buying an entire property or dealing with the hassles of becoming a landlord. Publicly traded REITs offer a simpler and less expensive way to invest in real estate. Companies like Realty Income Corp (NYSE:O) own large portfolios of income-producing properties, and investors get a share of the cash flow. Realty Income pays a monthly dividend to its shareholders with an annual yield of 5.7%.
Fractional ownership is another popular option. Platforms exist that allow investors to buy shares of single-family rentals for as little as $100 and earn passive income in addition to long-term gains.
Don’t take everything highly successful entrepreneurs and business owners say literally. There’s often a lot of wisdom in their words. However, always do your research and consult with an investment advisor before making any investment decisions.
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This article Robert Kiyosaki Warns That 'America Is Going To Be The Poorest Country In The World' – 'Today Slums Are Everywhere Across America' originally appeared on Benzinga.com
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