Historically, investing in the stock market has yielded reliable returns. Particularly, investing in the S&P 500 has proven to be a reliable and rather safe investment that can yield significant gains if held over several decades.
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The initial financial effects of the pandemic tanked the U.S. economy in 2020. Although, the stock market made a strong recovery in 2023. The S&P 500 surged over 24%, according to financial expert and “Rich Dad Poor Dad” author Robert Kiyosaki.
However, now Kiyosaki is sounding the alarm about potential financial troubles ahead.
“FYI. Bank Credit just sold off like 2008. Get some cash out of banks as you need cash. This may be the start of the biggest crash in history. Hope I am wrong yet no time to play Russian Roulette with your life,” Kiyosaki explained in a recent tweet from Dec. 10, 2023.
In another tweet on Dec. 11, 2023, Kiyosaki furthered his point by referring to predictions from his book which later came true and reiterated the eminent crash of the S&P 500: “‘Savers are losers’ and ‘Your home is not an asset’ which came true in 2008. People are still laughing at those 1997 predictions. Watch for my next warning. The S&P is next, which will toast millions of 401ks and IRAs. Take care.”
Kiyosaki’s suggestion? Turn to gold, silver, and Bitcoin instead.
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Gold and Silver Trends
According to the World Gold Council, the price of gold was approximately $37.44 per ounce in January 1971. Fast forward to today and gold is valued at approximately $2,333.55 per ounce as of April 30, 2024. That’s an incredible 6132.77% increase over 53 years.
Silver has also proven to be a precious metal financial haven.
According to the Silver Institute, the price of silver was $1.55 per ounce in 1971. Fast forward to today and silver is valued at approximately $26.40 per ounce as of April 30, 2024. That’s an increase of 1603.23% over 53 years.
Bitcoin Trends
Bitcoin, the first ever and largest cryptocurrency on the market today, first debuted in 2009 and its value has been quite volatile since its inception, according to U.S. News & World Report.
According to Crypto.com, the price of bitcoin (BTC) was valued at $0 when it first debuted in 2009. By 2021, BTC hit an all-time high price of $68,789.63. Fast forward to today and BTC is valued at $60,356.78 per coin as of April 30, 2024. Despite the cryptocurrency’s volatility, its current price represents an unfathomable 60,356,700% increase over the past 15 years.
Many people are still cryptocurrency non-believers since they don’t understand the concept or simply doubt the actual value of the asset. However, Bitcoin is here to stay and it might just be the next smartest investment you can make.
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This article originally appeared on GOBankingRates.com: Robert Kiyosaki: ‘Buy Gold, Silver, Bitcoin While You Still Can’
