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Robert Kiyosaki warns baby boomers will be ‘biggest losers’ – suggests children give parents a ‘nudge’ to sell their homes and belongings before it’s too late
Robert Kiyosaki is nothing if not consistent. The Rich Dad Poor Dad author and self-proclaimed “billionaire in debt” has built a reputation for predicting market doom, and if you follow him on
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Kiyosaki, a loyal real estate investor who is a famous owner 15,000 propertiesis now urging Boomers to sell their homes. Yes, sell. “If I were a BOOMER kid…I would urge my parents to sell their house, stocks and bonds now…while prices are high…before the CRASH that’s coming,” he wrote in his recent message. .
Coming from someone who has preached the virtues of real estate for decades, this feels like a plot twist. But Kiyosaki isn’t one to hide his opinions, and he’s clear about who he thinks will be hit hardest: Boomers. “If the stock market bursts… BOOMERS will be the BIG LOSERS,” he warned, adding that their once-untouchable retirement assets — homes, 401(k)s and IRAs — won’t be enough to save them.
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Kiyosaki blames the same generation he is warning, arguing that Boomers have had it good for too long. “BOOMERS have been lucky,” he said, pointing to how their generation drove the real estate market and fueled the stock and bond boom with their 401(k)s in the 1970s. But now, he says, an aging population will turn that boom into a crisis.