To survive the crisis of 2020, you need to buy gold and Bitcoin. Such advice was suggested by the famous financial guru and business coach Robert Kiyosaki. He published a series of posts on his Twitter, which he divided into 5 lessons. It is about how to change your own thinking, and how to reduce taxes, invest in assets that are not subject to inflation (gold and Bitcoin), find a job or become an entrepreneur.
This article will really be useful to those who have not yet decided on their strategy for dealing with the crisis.
Robert’s first lesson sounds like this. You have to change your mind because the crisis begins in your head. Parents teach that they need to go to school, pay taxes, save money, not get into debt and invest in the stock market. And these thoughts are at high financial risk today and in the future.
Lesson 1. CHANGE THOUGHTS: Financial crisis start in our heads. Did parents advise, “Go to school, get job, pay taxes, save money, get out of debt, invest in the stock market.” People who think these thoughts are at high financial risk today and future.
— therealkiyosaki (@theRealKiyosaki) March 28, 2020
How can we understand this lesson? Kiyosaki says that we were promised this formula for a happy life, but then a crisis comes, and you understand that it does not work. After all, the work disappeared, and the investments depreciated.
Regarding the first lesson, Kiyosaki is right that you cannot live according to the program. It is necessary to monitor changes in the world and adapt accordingly.
In the second lesson, Kiyosaki recommends going to school for getting knowledge. But this is not about classical education, Robert is very skeptical about this. Instead, the financial guru offers to learn for free with real teachers on YouTube.
Lesson 2. GO TO SCHOOL Smart people leave school loaded with Student Loan Debt learn nothing about money. Tragic. Good news. Best teachers teach for free on YOU Tube. For a brighter future follow real teachers who know what they are talking about. Best are:
— therealkiyosaki (@theRealKiyosaki) March 28, 2020
He gives a list of such teachers and there are Max Keiser, Peter Schiff, and others.
Regarding this lesson, we want you to understand it correctly. You don’t need to drop out of school or say that the institute will not give you anything – I’d better go see the videos on YouTube. This is utter nonsense, and we are sure that Kiyosaki will agree with this. Because the school provides basic skills, without which you can’t easily calculate your money.
And it will be very good if the knowledge from the school and the institute are behind.
The third lesson is called “Find a job.” Kiyosaki claims that his rich dad from the well-known book never needed work because he himself created jobs. And his antagonist, poor dad, believed in the safety of work as a hired staff, which, according to Robert, is an extremely wrong approach in the face of an impending crisis:
Lesson 3: GET A JOB. Rich dad was an entrepreneur. He did not need a job, he created jobs. Poor dad was an employee. Child of the Depression he believed in job security. Being an employee next depression very high risk. Next tweet for entrepreneurs.
— therealkiyosaki (@theRealKiyosaki) March 29, 2020
Kiyosaki further gives three reasons to be an entrepreneur:
He also notes that real entrepreneurs know how to create assets and gives a personal example of how a person makes books, games, and blogs:
And now we back to harsh reality. To become an entrepreneur today, when the whole business yells a good obscenity that he was abandoned and it’s time to close for good – that’s another piece of advice. An exception today is the online sphere because even in a crisis, a modern person will definitely refuse an extra hamburger to pay for the Internet.
Here is the truth about online business today using YouTube as an example. The market has been busy for a long time, and in order to find your niche in it, you need to either dump a lot of dough in advertising, or work on creating your own brand for two or three years, or maybe more, and still not the fact that it will turn out.
In addition, in a crisis, you need to get money here and now, but it doesn’t. Just read the terms of the affiliate program on YouTube and the pink glasses will disappear by themselves. Therefore, if you want to move into the online sphere, you first need to analyze the market, find those in their field who are already successful and make money. Next, offer them your services. But do not do it in the format “hello, cool project, come on, you will pay me a salary.” Such clever people are in a big queue, which is hidden behind a bend.
It is necessary to make an offer that they cannot refuse.
And when you complete Lesson 3 from Kiyosaki and get work that is resistant to the crisis, then you can start your own project to move into the caste of entrepreneurs in the future.
The fourth lesson is about taxes because Warren Buffett pays fewer taxes than his secretary. After all, Buffett is an entrepreneur, and the secretary is an employee:
Lesson 4: TAXES Warren Buffet pays less taxes than his secretary. WHY? Warren is an entrepreneur. Secretary is an employee. Next depression will be great for entrepreneurs not employees. CHANGE YOUR TEACHERS to CHANGE YOUR FUTURE
— therealkiyosaki (@theRealKiyosaki) March 31, 2020
This crisis will be good for entrepreneurs, not for workers.
Kiyosaki further explains that the government provides huge tax benefits to Google as an entrepreneur, so long as its employees continue to pay their taxes.
For this reason, tax conditions for entrepreneurs are always better than for workers. And as you know, we should also deal with this lesson in detail.
Does Warren Buffett pay fewer taxes than his secretary? Of course not, if we look at the amount of these taxes. But if you look at the percentage of income that went into taxes, Buffett is the winner. Because an entrepreneur has various options for reducing taxes under the law, and normal states such as the United States encourage such trends. After all, entrepreneurs create jobs.
And the main moral of the 4th lesson from Kiyosaki is to legally pay fewer taxes.
And the last 5th lesson from Robert, where we will not argue, but only make a small clarification. It sounds like this: you need to save money because the Fed is now printing trillions of dollars:
Lesson 5. SAVE MONEY: RU NUTS? Why save money when QE FED counterfeiting is printing trillions of fake dollars-$82 billion a month to $125 billion a day? Why save when ZIRP, zero interest policy pays losers zero? Save gold-god’s money or Bitcoin-people’s money.
— therealkiyosaki (@theRealKiyosaki) April 1, 2020
Therefore, Kiyosaki advises buying gold-god’s money or Bitcoin-people’s money. Well, in tweets he will add silver to this list.
The logic is correct: transfer funds to defensive assets with a limited issue.
However, the US dollar will be bent over from inflation, but the currencies of developing countries will become even cheaper, so if you are not an American, the dollar can also be a good protective asset.
As for gold, silver, and bitcoin, keep in mind that during the crisis, the main asset is cash, for which you buy food, medicine, clothes, etc. And gold and Bitcoin are more likely investments. Therefore, first of all, make sure that you have enough money for a living. And only then enter the market.
When Kittens Took Over The Internet, DOGE Took Over The Crypto Market
Central Banks Of France And Switzerland To Test Cross-Border Transactions With CBDC
Investors Predict Bitcoin Going Into Active Movement Within 7 Days
Ripple Blocks Access To Documents That May Have Helped SEC Win Case Against Startup