Robert Kiyosaki, the author of the best-selling financial book Rich Dad, Poor Dad, has outlined six rules for surviving a market crash, mentioning bitcoin (BTC) as real money that goes up in value.
According to a tweet by the financial educator, the market crash has begun and will be a bad one. However, such seasons are the best opportunities to get rich because “bargains will float to the surface.”
Kiyosaki’s Rules For a Market Crash
The first rule is refraining from catching falling knives. Kiyosaki said the decline in prices should not spur greed. Rather, investors should wait till asset prices have bottomed and nobody indicates interest in the assets they want.
While waiting for the market to hit its bottom, Kiyosaki has urged investors to study the financial sector, focusing on real estate, taxes, stocks, and oil. Platforms like YouTube have many teachers; however, Kiyosaki warned investors to differentiate between real and fake tutors. Upon discovering great tutors, market participants should invest time “to get into the heads of the teacher” by reading their books and listening to their podcasts.
In addition, the Rich Dad, Poor Dad author advised investors to make new friends who are on the same path as them.
“Seek new friends who are on the same path you are on. Stay away of VICTIMS: people who blame others for their problems. Stay away MARXIST: people who expect the government to solve their problems,” Kiyosaki stated.
“Save Bitcoin”
Furthermore, Kiyosaki told investors to start small businesses as side hustles to become entrepreneurs. Since artificial intelligence is going to wipe out millions of jobs, Kiyosaki urged market participants to become employees who are not afraid of losing their jobs.
Finally, the financial guru urged investors to save real money during this market crash and not fake money because the former increases in value over time, while the latter only depreciates. As Kiyosaki has always stated, real money includes BTC and precious metals like gold and silver, while fake money includes fiat like the U.S. dollar, Euro, and Japanese yen.
“TAKE CARE and make this CRASH the best thing that ever happened to you,” Kiyosaki added.
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