Background information:
Amid a sharp decline in the cryptocurrency market, with Bitcoin's price briefly falling below $95,000, renowned investor Robert Kiyosaki, author of "Rich Dad Poor Dad," shared these remarks on his social media platform X. He used this opportunity to elaborate on his unique investment philosophy in the face of market panic and his long-term assessment of the global economy.
Robert Kiyosaki Biography:
Investor, entrepreneur, financial education advocate, and author. Author of the bestselling book *Rich Dad Poor Dad*, which advocates for achieving financial freedom through generating cash flow through assets and investments.
Robert Kiyosaki (@theRealKiyosaki) tweeted:
Bitcoin is crashing:
The everything bubbles are bursting...
Q: Am I selling?
A: No: I am waiting.
Q: Why don't you sell?
A: The reason for all market crashes is that the whole world desperately needs cash.
A: I don't need cash.
A: The real reason I'm not selling is that the whole world is mired in debt...
My bet is that "The Big Print ," as described in Lawrence Lepard's book, is about to begin...
This will make gold, silver, Bitcoin, and Ethereum more valuable... because fake money is collapsing.
Q: Is it possible that Lawrence and I are wrong?
A: Yes.
I do not offer investment advice.
I'm just sharing what I'm doing.
That's why I talked about "learning with like-minded people" in my previous tweet.
Most of my friends don't need cash... so they panic less.
Simply put... if you're like most people in the world and feel fear and need cash... you might want to sell your best assets and convert them into cash.
Miss Piggy's financial wisdom:
I followed the financial advice of Little Pig from the Muppet Show, who suggested:
"The key to money management is to always try to have a lot of money."
In "Rich Dad Poor Dad," Rich Dad refers to it as "cash flow" from assets such as real estate, oil wells, livestock, and private investments.
I don't trust stocks or bonds, but if you do trust... like Warren Buffett... do what's best for you.
Piggy's suggestion is wise, which is why like-minded people attend financial seminars and learn together.
Please be careful with it.
If you are panicking and short of cash, learn from your mistakes.
I experienced panic many times and learned invaluable personal finance lessons that were not taught in traditional school job-hunting education.
When I ran out of cash, I painfully learned a lesson from Piggy about money management.
However, these lessons, though painful, are invaluable. It was those painful lessons that made me a wealthy person… owning assets that generate cash flow , as I wrote in Rich Dad Poor Dad and taught in my Cash Flow board game.
The Cashflow game teaches through the mistakes players make.
Making mistakes is how humans are designed to learn. Unfortunately, schools punish students for making mistakes. No wonder there are so many educated poor people.
Take care and continue your studies...
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