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    From a425couple@21:1/5 to All on Mon Nov 20 11:20:00 2023
    XPost: alt.economics


    ‘The rich don’t work for money’: Robert Kiyosaki warns that our wealth
    is ‘designed to be stolen’ by taxes and inflation — says the rich save these 3 'real’ assets for protection
    Jing Pan
    Sat, November 11, 2023 at 4:15 AM PST·4 min read
    ‘The rich don’t work for money’: Robert Kiyosaki warns that our wealth
    is ‘designed to be stolen’ by taxes and inflation — says the rich save these 3 'real’ assets for protection

    Most people work for money. After all, we have bills to pay. But
    according to “Rich Dad Poor Dad” author Robert Kiyosaki, the mindset of
    the wealthy is markedly different.

    In a recent post on X, formerly known as Twitter, he wrote, “RICH DAD’s Lesson #1: ‘The rich don’t work for $.’ WHY? Because our Wealth is designed to be stolen from our fake money via taxes and inflation and
    the stock market.”

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    The fourth-generation Japanese-American presents a valid argument
    regarding the vulnerability of wealth. A portion of every paycheck goes
    to taxes. Meanwhile, inflation gradually erodes the purchasing power of
    money, and the stock market is inherently volatile.

    “The poor and middle-class work at jobs that pay taxable fake $ income
    and then they save fake $, then invest in stocks, bonds, mutual funds &
    ETFs which are crashing as I write this text,” he continued.

    The rich, according to Kiyosaki, are not fixated on these so-called
    “fake paper assets.”

    “The rich want assets that put real tax-free money in their pockets and
    they know how to save real assets, G, S, BC,” he said, referring to
    gold, silver and bitcoin, adding that they provide “lifelong financial security & freedom.”

    Here’s a closer look at these assets.

    Gold and silver
    Precious metals — particularly gold and silver — have been a popular
    hedge against inflation and uncertainty. They can’t be printed out of
    thin air like fiat money, and it’s believed their value is largely
    unaffected by economic events around the world.

    Kiyosaki has long been a fan of gold and first purchased the yellow
    metal in 1972. He has explained in the past it’s because he doesn’t “trust” the Federal Reserve, which controls the supply of money.

    In October he predicted, “Gold will soon break through $2,100 and then
    take off. You will wish you had bought gold below $2,000. Next stop gold $3,700.”

    Kiyosaki likes silver, too. “Silver from $23 to $68 an ounce,” he said, projecting major upside for the gray metal.

    To be sure, despite their “safe haven” status, the price of precious
    metals can still be volatile. While the price of gold has climbed about
    7% in 2023, silver has fallen by about 5% during the same period.

    Today, there are many ways to gain exposure to gold and silver, but
    Kiyosaki prefers to just buy the metals directly. “I do not touch paper
    gold or silver ETFs. I only want real gold or silver coins,” he wrote
    last year.

    So it might be time to visit your local bullion shop or online seller.

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    Bitcoin investors have learned the hard way just how volatile it can be.

    In November 2021, the virtual currency reached a high of $68,990. Today,
    it’s hovering around $35,400.

    But Kiyosaki doesn’t seem bothered by the massive swings.

    Last month, when bitcoin was testing $30,000, he tweeted, “Next stop
    Bitcoin $135,000.”

    If Kiyosaki is right in his prediction, it would imply an upside of 281%
    from where the cryptocurrency sits today.

    It’s very easy to buy bitcoin these days. There are many online
    exchanges, brokers and even ATMs to purchase from. Be warned, they can
    charge up to 4% in commission fees, so look for ones that charge low or
    even zero commissions.

    Cash flow assets
    While stressing the importance of saving gold, silver and bitcoin,
    Kiyosaki also pointed to assets that produce cash flow.

    “The rich work for assets that put tax free money in their pocket…cash
    flow assets such as rental properties, oil, food production,” he said.

    So how much should investors allocate to these investments?

    In a post on X last month, the entrepreneur and businessman wrote,
    “Before going down with the ship consider a shift to 75% gold, silver, bitcoin 25% real estate/oil stocks.”

    He said that this asset mix may allow investors to “survive the greatest crash in world history.”

    It’s easy to gain access to cash flow assets these days. Investors can purchase dividend-paying oil stocks using their brokerage account. And
    if you want to invest in real estate, there are ways to earn rental
    income without becoming a landlord.

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    safe — you may want to do the same in 2023

    This article provides information only and should not be construed as
    advice. It is provided without warranty of any kind.

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