Traditionally, putting money into the stock market has consistently generated profits. Especially, investing in the S&P 500 has shown to be a dependable and quite secure investment that could lead to substantial gains if held for several decades.
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The initial economic impacts of the pandemic caused a downturn in the U.S. economy in 2020. Nevertheless, the stock market saw a robust rebound in 2023. The S&P 500 skyrocketed over 24%, according to financial specialist and “Rich Dad Poor Dad” writer Robert Kiyosaki.
However, Kiyosaki is now raising the alarm about potential financial turmoil ahead.
“FYI. Bank Credit just plummeted like in 2008. Withdraw some cash from banks as needed. This could be the beginning of the most significant crash in history. Hopefully, I’m mistaken but there’s no time to risk your life like playing Russian Roulette,” Kiyosaki explained in a recent tweet from Dec. 10, 2023.
In another tweet on Dec. 11, 2023, Kiyosaki reinforced his point by referencing predictions from his book which eventually came true and reiterated the impending crash of the S&P 500: “‘Savers are losers’ and ‘Your home is not an asset’ which came true in 2008. People are still deriding those 1997 forecasts. Watch out for my next caution. The S&P is next, which will devastate millions of 401ks and IRAs. Be cautious.”
Kiyosaki’s recommendation? Shift towards gold, silver, and Bitcoin instead.
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Gold and Silver Patterns
As per the World Gold Council, the value of gold was approximately $37.44 per ounce in January 1971. Fast forward to the present day, and gold is priced at approximately $2,333.55 per ounce as of April 30, 2024. That signifies an impressive 6132.77% surge over 53 years.
Silver has also demonstrated to be a valuable safe haven for finances.
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 about $26.40 per ounce as of April 30, 2024. That’s a boost of 1603.23% over 53 years.
Bitcoin Patterns
Bitcoin, the pioneer and largest cryptocurrency on the market today, made its debut in 2009, and its value has been quite erratic since its inception, according to U.S. News & World Report.
As indicated by Crypto.com, the price of bitcoin (BTC) was $0 when it initially emerged in 2009. By 2021, BTC reached an all-time high value 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 present value reflects an incomprehensible 60,356,700% increase over the last 15 years.
Many individuals still doubt the concept of cryptocurrency since they lack understanding or simply question the real value of the asset. However, Bitcoin is here for the long haul and might indeed be the next intelligent investment decision.
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This article was originally published on GOBankingRates.com: Robert Kiyosaki: ‘Secure Gold, Silver, Bitcoin Investments Before It’s Too Late’
Source : finance.yahoo.com