Robert Kiyosaki Recommends Getting Into Bitcoin Now
Renowned author Robert Kiyosaki, best known for his book Rich Dad Poor Dad, is once again advising investors to consider bitcoin as an investment opportunity. In addition to bitcoin, Kiyosaki also recommends gold and silver, while urging individuals to move away from fiat currency. With over 32 million copies sold in more than 109 countries, Rich Dad Poor Dad continues to be a bestseller since its publication in 1997.
The Rise of Bitcoin and the Decline of Fiat Currency
Kiyosaki took to social media to highlight the recent surge in the price of gold, emphasizing the pitfalls of relying on fiat currency. He believes that workers and savers are at a disadvantage and should take action before it's too late. According to Kiyosaki, the removal of the U.S. dollar from the gold standard in 1971 marked the beginning of the decline of fiat currency. In contrast, he views gold and silver as reliable assets and bitcoin as "people's money."
The Distrust in Central Banks and the U.S. Dollar
Expressing his lack of trust in the Federal Reserve, the Biden administration, and Wall Street, Kiyosaki warns that the U.S. dollar is being destroyed by the actions of the Federal Reserve and the Treasury. He predicts that individuals who hold gold, silver, and bitcoin will experience wealth growth as the Federal Reserve continues to print trillions of dollars. In his view, those who rely on fiat currency will suffer the most.
Rich Dad's Lesson: Investing in Assets
Kiyosaki reminds investors that the rich do not rely on jobs or paper assets. Instead, they focus on acquiring assets that generate tax-free income and provide long-term financial security. He advises individuals to invest in real assets such as gold, silver, and bitcoin, which have historically retained their value and offered protection against inflation.
Kiyosaki's Bullish Predictions
Kiyosaki has made several optimistic predictions about the future price of bitcoin, ranging from $135,000 in the near term to $1 million in the event of a global economic crisis. He also believes that gold could reach $75,000 and silver could reach $60,000 under similar circumstances. Looking ahead, Kiyosaki projects that by 2025, bitcoin could reach $500,000, gold could rise to $5,000, and silver could reach $500.
In conclusion, Robert Kiyosaki continues to advocate for investing in bitcoin, gold, and silver as a means to safeguard against the potential downfall of fiat currency. As the world of finance evolves, Kiyosaki's advice serves as a reminder to investors to consider alternative assets that offer long-term financial security and growth.
What are your thoughts on Robert Kiyosaki's advice? Let us know in the comments section below.
Frequently Asked Questions
What is a Precious Metal IRA and How Can You Benefit From It?
A precious metal IRA lets you diversify your retirement savings to include gold, silver, palladium, rhodium, iridium, osmium, osmium, rhodium, iridium and other rare metallics. These are “precious metals” because they are hard to find, and therefore very valuable. These metals are great investments and can help protect your financial future from economic instability and inflation.
Bullion can be bought through many channels, including online retailers, large coins dealers, and some grocery shops.
A precious metal IRA lets you invest in bullion direct, instead of purchasing stock. This allows you to receive dividends every year.
Unlike regular IRAs, precious metal IRAs don't require paperwork or annual fees. Instead, you pay a small percentage tax on the gains. Plus, you can access your funds whenever you like.
Should You Open a Precious Metal IRA?
Precious metals are not insured. This is the most important fact to know before you open an IRA account. If you lose money in your investment, nothing can be done to recover it. This includes investments that have been damaged by fire, flooding, theft, and so on.
You can protect yourself against such losses by purchasing physical gold and silver coins. These items can be lost because they have real value and have been around for thousands years. They are likely to fetch more today than the price you paid for them in their original form.
You should choose a reputable firm that offers competitive rates. Consider using a third-party custody company to keep your assets safe and allow you to access them at any time.
Remember that you will not see any returns unless you are retired if you open an Account. So, don't forget about the future!
What precious metals do you have that you can invest in for your retirement?
Gold and silver are the best precious metal investments. They're both easy to buy and sell and have been around forever. These are great options to diversify your portfolio.
Gold: Gold is one the oldest forms currency known to man. It is also extremely safe and stable. It is a good way for wealth preservation during uncertain times.
Silver: Silver has always been popular among investors. It's a great option for those who want stability. Silver tends to move up, not down, unlike gold.
Platinium is another precious metal that is becoming increasingly popular. It's resistant to corrosion and durable, similar to gold and silver. It's also more expensive than the other two.
Rhodium: Rhodium is used in catalytic converters. It is also used as a jewelry material. It's also relatively inexpensive compared to other precious metals.
Palladium: Palladium is similar to platinum, but it's less rare. It's also more accessible. This is why it has become a favourite among investors looking for precious metals.
Can I purchase gold with my self directed IRA?
However, gold can only be purchased with your self-directed IRA. To do so, you must first open a brokerage account at TD Ameritrade. You can also transfer funds from another retirement account if you already have one.
The IRS allows individuals contributing up to $5.500 each ($6,500 if married, filing jointly) into a traditional IRA. Individuals can contribute up to $1,000 annually ($2,000 if married and filing jointly) directly to a Roth IRA.
If you do decide that you want to invest, it is a good idea to buy physical bullion and not in futures. Futures contracts are financial instruments that are based on gold's price. These contracts allow you to speculate on future gold prices without actually owning it. But physical bullion refers to real gold and silver bars you can carry in your hand.
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Fraud Advisory: Precious Metals Fraud
By: Kevin Helms
Title: Robert Kiyosaki Urges Investors to Get Into Bitcoin Now
Sourced From: news.bitcoin.com/robert-kiyosakis-advice-get-into-bitcoin-now-before-its-too-late/
Published Date: Mon, 27 Nov 2023 03:30:08 +0000