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- Robert Kiyosaki predicts a major S&P 500 downturn, risking hundreds of thousands of American 401ks and IRAs.
- Amid a resilient S&P 500, Kiyosaki raises fears of a worldwide banking disaster, urging funding in Bitcoin, gold, and silver.
- Kiyosaki’s warning about U.S. banking system corruption echoes previous correct predictions, highlighting dangers in present monetary methods.
Famend monetary professional and ‘Wealthy Dad, Poor Dad’ writer Robert Kiyosaki has warned about an imminent crash within the S&P 500 index, a transfer he believes might severely impression hundreds of thousands of American retirement accounts, notably 401ks and IRAs.
In a current submit on X dated December 11, Kiyosaki emphasised the vulnerability of widespread retirement financial savings autos in america. He particularly talked about 401(ok) plans, the place employers contribute a portion of an worker’s wage to funding choices like mutual funds, shares, bonds, and Particular person Retirement Accounts (IRAs), permitting particular person funding choices.
As these plans are intently linked to inventory market efficiency, notably the S&P 500, a downturn might devastate these retirement funds.
Kiyosaki’s warnings lengthen past the inventory market. In his newest statements, Reuters highlighted his considerations a few “international banking disaster” and labeled the U.S. banking system as corrupt. Drawing from his previous predictions, such because the downfall of Lehman Brothers in 2008 and the current struggles of Credit score Suisse in 2023, he now encourages his followers to think about various investments like Bitcoin, gold, and silver.
Furthermore, Kiyosaki has speculated about future challenges for main international banks. After the near-collapse of Credit score Suisse, averted by its acquisition by UBS in March, he suggests, as reported by the Monetary Occasions, that UBS could possibly be the following banking large to face important issues.
Regardless of these warnings, the S&P 500 Index has proven resilience, gaining 19.92% this yr and reaching its highest stage since March 29, 2022. The market’s efficiency has been buoyed by much less aggressive financial insurance policies from the Federal Reserve, with expectations of a price lower in mid-2024. Nonetheless, Kiyosaki’s predictions function a reminder of the market’s inherent unpredictability and the potential dangers to retirement funds invested within the inventory market.
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