Robert Kiyosaki, the renowned author of the bestselling book ‘Rich Dad Poor Dad’, has cautioned that investing in a diversified portfolio of stocks, bonds, mutual funds, and exchange-traded funds (ETFs) is a ‘high-risk’ strategy. Instead, Kiyosaki emphasized that gold, silver, and bitcoin are the top investment choices for volatile times.
The Rich Dad Poor Dad author shared some investment advice this week. Co-authored by Kiyosaki and Sharon Lechter, Rich Dad Poor Dad was published in 1997 and has been featured on the New York Times Best Seller List for more than six years. The book has sold more than 32 million copies in over 51 languages across 109 countries.
On Friday, Kiyosaki posted a tweet expressing that the advice of saving money and investing in a well-diversified portfolio of stocks, bonds, mutual funds, and ETFs is risky, and it has become even riskier nowadays. He maintains that gold, silver, and bitcoin are the best choices for unstable times, despite their prices fluctuating.
The renowned author had previously expressed his dislike for stocks, bonds, mutual funds, and ETFs, but also mentioned that investors should put their money into investments they are passionate about. In April of the previous year, he asserted that bonds were the riskiest investment during a global financial crisis. He criticized the practice of novice investors following a standard 60-40 mix of stocks and bonds, and recommended buying gold, silver, and bitcoin as a hedge against the incompetence of those in power. Additionally, in July of the same year, he emphasized that he preferred to invest in physical gold and silver coins instead of paper gold or silver ETFs.
Kiyosaki has had a negative opinion of mutual funds for an extended period, and he believes that they are a fraudulent investment option. In 2019, he further explained that financial planners are affiliated with banks and mutual funds, and they benefit from selling their products and charging excessive fees while using their customers’ funds to enrich themselves.