American investor Robert Kiyosaki shared a financial lesson for netizens — contending that “money makes people and countries poorer” in most cases. The Rich Dad Poor Dad author shared several examples to underscore his point and urged people to improve their financial education to avoid a similar plight. Kiyosaki has long been a vocal advocate of shifting mindsets to view money as a tool to create additional wealth — rather than a sum to earn and spend.
‘Money makes people poorer’
“In most cases money makes people and countries poorer. Take extreme examples of college sports stars who join a pro team earning Millions. Records show that 65% are bankrupt seven years after retirement. The same is true for lottery winners. Millions of dollars made them poorer. Then take the average working person, let’s say a waiter in America may easily earn $35k a year for 50 years equals $1.75 million… and die poor,” he wrote on X.
The well-known investor opined that could often stem from “poor parents and poor financial education taught by highly educated poor teachers like my poor dad in school”.
“Good news: Seek out rich teachers and friends….like my rich dad advisors, all who wrote books for active students about money, hardships, mission driven businesses, and successful entrepreneurship….people just like you. Why win the lottery and go broke or why work all your life….only to end up poor? You are much smarter than that,” he urged.
Kiyosaki warns about ‘massive’ stock market crash
The remarks about wealth also came mere days after Kiyosaki warned followers about an impending stock market crash. The author has repeatedly voiced concern about a severe financial downturn in recent months — pointing to gold and silver as safer alternatives. He has also urged people to invest in cryptocurrencies such as bitcoin but warned against reckless invesment last month. A social media post from mid-July also saw Kiyosaki insist that he would no longer be buying Bitcoin — at least until he assessed market developments.
“Stock market crash indicators warning of massive crash in stocks. Good news for gold, silver, and Bitcoin owners. Bad news for Baby Boomers with 401k,” he wrote last week on X.