Saturday, October 17, 2009

Kiyosaki: Silver is My No. 1 Investment

Kiyosaki: Silver is My No. 1 Investment
Friday, September 25, 2009 9:42 AM
By: Dan Weil Article Font Size

Robert Kiyosaki, author of “Rich Dad, Poor Dad,” recommends investing in real estate and commodities, but he tells Dan Mangru of Newsmax TV that silver is now his top investment.

“If you’re afraid of inflation, which you should be, I would think silver is the No. 1 investment today.”

Kiyosaki also tells Mangru why he likes real estate, “I like real estate for one reason: debt.”

Investors get no leverage buying stocks, but they do when buying real estate, Kiyosaki points out.

Watch the Exclusive Interview with Newsmax TV's Dan Mangru — Click Here Now!

To be sure, “If you’re going to play the game of debt, boy you’ve got to be a lot smarter than the average bear out there,” he says.

“So real estate is a good investment if you have financial training, financial education, and you have somebody guiding you who has some experience with the whole thing.”

Kiyosaki recommends commodities to guard against inflation.

“To protect against inflation, do what the Chinese are doing,” he says. “The Chinese are buying commodities: copper, oil, gold, silver, land.”

For those who are poor, Kiyosaki has this advice: “Change what you think. . . If you’re expecting the economy to come back, I think you’re in a dream land.”

Some people believe in the following myth, he says: “This idea that the U.S. is the greatest country on earth, and Obama is here to save you, and the government is going to take care of you. That’s called socialism.”

“And I think you really better start changing your thinking, because they’re not going to save you. They’re going to save themselves.”

Investors must be self-reliant, Kiyosaki says.

“I got financially educated when I was a kid. I don’t expect anybody to take care of me. I don’t turn any money over to a 401(k). I don’t trust mutual funds. I don’t trust banks. I trust myself.”

The solution is to “get educated and get smart with my money,” he says. “We’ve been trained like Pavlovian dogs to turn our money over to Wall Street.”

Four factors keep the middle class poor, Kiyosaki says:

• Taxes

• Debt

• Inflation

• Your retirement plan

“If you’re going to be financially intelligent,” you have to know how to use all four of those factors “to make you rich,” he says

To become rich, especially in the wake of financial crisis, “you’ll have to stop thinking the way you think and start thinking differently and start doing things differently.”

He says that as long as we have a middle class, we’ll be an advanced nation.

But, “the problem with the middle class is that they’re not moving from middle class to rich. The middle class is now moving from middle class to poor.


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