- Robert Kiyosaki, renowned author of Rich Dad, Poor Dad, has shared his six rules for surviving a market crash, including the importance of investing in Bitcoin.
- According to Kiyosaki, the market crash has already begun, but these periods offer the best opportunities for wealth accumulation.
- His rules include refraining from catching falling knives, studying the financial sector, making new friends, starting small businesses, and saving real money like Bitcoin.
Robert Kiyosaki, the financial guru and author of Rich Dad, Poor Dad, shares his insights on surviving a market crash, emphasizing the importance of Bitcoin as a valuable asset.
Market Crash Survival Rules
As per Kiyosaki’s tweet, the market crash has already begun and it’s going to be severe. However, he believes that such periods are the best times to accumulate wealth as “bargains will float to the surface”. His first rule for surviving a market crash is to avoid catching falling knives, meaning investors should not be driven by greed to buy assets whose prices are rapidly falling. Instead, they should wait until asset prices have bottomed out and there is little interest in them.
Learning and Networking
While waiting for the market to bottom out, Kiyosaki advises investors to educate themselves about the financial sector, focusing on real estate, taxes, stocks, and oil. He warns investors to differentiate between real and fake tutors, and upon finding credible ones, invest time in understanding their perspectives by reading their books and listening to their podcasts. He also emphasizes the importance of networking with like-minded individuals and avoiding those who blame others for their problems or expect the government to solve them.
Entrepreneurship and Real Money
Kiyosaki also encourages investors to start small businesses as side hustles to become entrepreneurs, especially considering the threat of job loss due to artificial intelligence. Lastly, he advises investors to save real money during a market crash, as it appreciates over time, unlike fake money which depreciates. According to Kiyosaki, real money includes Bitcoin and precious metals like gold and silver, while fake money includes fiat currencies like the U.S. dollar, Euro, and Japanese yen.
Conclusion
In conclusion, Kiyosaki’s rules for surviving a market crash involve a blend of patience, education, networking, entrepreneurship, and wise investment choices, with a special emphasis on Bitcoin. As he puts it, “TAKE CARE and make this CRASH the best thing that ever happened to you.”
