Robert Kiyosaki Recommends Bitcoin ETFs as Global Economy Slows Down

Introduction

Robert Kiyosaki, the author of the best-selling book "Rich Dad Poor Dad," has recently suggested that investors consider buying bitcoin exchange-traded funds (ETFs). With concerns about the global economy slowing down and the potential for a depression, Kiyosaki advises investors to take action and not be caught off guard like most Americans.

Robert Kiyosaki and Spot Bitcoin ETFs

Robert Kiyosaki, the co-author of the popular book "Rich Dad Poor Dad," recommends investing in bitcoin exchange-traded funds (ETFs) as an alternative to direct investment in bitcoin. "Rich Dad Poor Dad" has been on the New York Times Best Seller List for over six years and has sold more than 32 million copies worldwide.

The Concerns

In a recent social media post, Kiyosaki expressed concerns about the Cardboard Box Index, an indicator used to assess consumer goods production. According to Kiyosaki, this index is crashing, indicating a potential global economic downturn and a possible depression. He predicts that the U.S. Treasury and Federal Reserve will respond to this situation by printing trillions of "fake dollars."

Recommended Investments

In light of these concerns, Kiyosaki recommends his usual choices of gold, silver, and bitcoin. He points out the increasing price of gold and the relatively low cost of silver. Additionally, he suggests considering bitcoin ETFs as an alternative investment option. Kiyosaki emphasizes the need for immediate action to avoid being caught off guard and urges investors to take proactive measures.

Kiyosaki's Previous Warnings

This is not the first time that Kiyosaki has warned about a potential depression. In the past, he predicted that a depression is coming and cautioned about an impending crash. He also projected that by 2025, the value of gold would reach $5,000, silver $500, and bitcoin $500,000. Kiyosaki attributes these predictions to the anticipated loss of faith in the U.S. dollar, which he refers to as "fake money." He views gold and silver as "God's money" and bitcoin as "people's money."

The Type of Bitcoin ETFs

Kiyosaki does not specify the type of bitcoin ETFs he recommends. Currently, there are futures bitcoin ETFs available in the U.S., but the approval of a spot bitcoin ETF by the U.S. Securities and Exchange Commission (SEC) is still pending. The SEC Chairman, Gary Gensler, has mentioned that the regulator is considering several spot bitcoin ETF applications. Many industry experts expect a flood of money into the crypto industry with the launch of spot bitcoin ETFs, including the former NYSE president and Microstrategy chairman.

Conclusion

Robert Kiyosaki's recommendation to consider bitcoin ETFs as part of an investment strategy comes as he warns about the potential for a global economic downturn and a depression. As an author with a successful track record, Kiyosaki's advice carries weight in the investment community. However, investors should conduct their own due diligence and make informed decisions based on their financial goals and risk tolerance.

What are your thoughts on Robert Kiyosaki's advice? Share your opinions in the comments section below.

Frequently Asked Questions

How Do You Make a Withdrawal from a Precious Metal IRA?

If you have an account with a precious-metal IRA company like Goldco International Inc, you might consider withdrawing your funds. You can sell your metals at a higher price if they are still in the account than if you left them there.

This article will help you understand how to withdraw funds from an IRA that holds precious metals.

First, verify that your precious metal IRA allows withdrawals. Some companies will allow withdrawals, while others won't.

The second step is to determine if selling your metals will allow you tax-deferred gain. Many IRA providers provide this benefit. Some providers do not offer this benefit.

Third, verify with your precious Metal IRA provider if you are charged any fees for taking these steps. Extra fees may apply for withdrawals.

Fourth, it is important to keep track of your precious-metal IRA investments for at most three years after you have sold them. In other words, wait until January 1st each year to calculate capital gains on your investment portfolio. Follow the instructions on Form 8949 to calculate the gain.

In addition to filing Form8949, you must also notify the IRS about the sale or purchase of precious metals. This is a step that ensures that all sales are taxed.

Consider consulting a trusted attorney or accountant before selling your precious metals. They can help you avoid costly mistakes and ensure you comply with all regulations.

What are the three types?

There are three basic types for IRAs. Each type has its advantages and limitations. Below, we'll discuss each one.

Traditional Individual Retirement Accounts

A traditional IRA allows pre-tax money to be contributed to an account. This allows you to earn interest and defer taxes. Withdrawals from this account are exempted from tax once you have retired.

Roth IRA

With a Roth IRA, you deposit after-tax dollars into an account, which means any earnings grow tax-free. The account allows you to withdraw funds for retirement.

SEP IRA

Similar to a Roth IRA except that employees must make additional contributions. These extra contributions are subject to income tax but any earnings will grow tax-deferred again. You may choose to convert the entire amount to a Roth IRA when you leave the company.

What is the best precious metal to invest in?

An investment in gold can yield high returns on its capital. It also protects against inflation and other risks. As inflation worries increase, gold prices tend to rise.

Gold futures are a great idea. These contracts guarantee that you will receive certain amounts of gold at a given price.

But gold futures may not be right for everyone. Some people prefer physical gold.

They can also trade their gold easily with others. They can also sell it whenever they want.

Some people also prefer to avoid paying taxes on their gold. To avoid paying taxes on their gold, they purchase it directly from the government.

This process requires you to make several trips to your local post office. You will first need to convert any existing gold in coins or bars.

You will then need to obtain a stamp for the coins and bars. Finally, you send them to the US Mint. The US Mint will melt the coins and bars to make new ones.

The original stamps are used to stamp the new coins and bars. This means they can be used as legal tender.

If you buy gold from the US Mint directly, you won’t have to pay tax.

Which precious metal would you prefer to invest in?

Are precious metal IRAs a good way to invest?

Answers will depend on the amount of risk you are willing and able to take in order for your IRA account to lose value. If you have $10,000 cash, they make sense as long as you don’t expect your IRA account to grow rapidly. These are not the best investments if there is a long-term plan for saving money (like gold) or if you want to invest more in assets that will rise in value over time. You may also have to pay fees, which can reduce your gains.

Statistics

• Same tax rules as traditional IRA SEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less Before setting up a Silver IRA, understand the fees and IRS restrictions. (sltrib.com)
• The maximum yearly contribution to an individual's IRAs is currently $6,000 ($7,000 for those 50 years or older), or 100% of earned income, whichever is less. (monex.com)
• Depending on your financial situation, most experts recommend you invest no more than 5% to 10% of your retirement funds in precious metals. (forbes.com)
• Silver must be 99.9% pure • (forbes.com)

External Links

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• Regal Assets America's Premier Provider of Alternative Assets to Retirement Accounts
  

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• You want to keep gold in your IRA at home? It's not legal
  

kitco.com

• Live Gold Prices
  

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• Protect & Secure Your Retirement Savings Today!
  

How To

How to convert your IRA into a Gold IRA

Are you interested in moving your retirement savings to a more gold-colored IRA instead of a traditional IRA? This article can help you do exactly that. Here are the steps to help you make the change.

Rolling over is the process of transferring money from one type of IRA to another. Rolling an account over offers tax advantages. In addition, some people prefer investing in physical assets like precious metals.

There are two types IRAs – Traditional IRAs, and Roth IRAs. The difference between the two types is that Traditional IRAs let investors deduct taxes from earnings. Roth IRAs don’t allow this. That means that if you invest $5,000 in a Traditional IRA today, then after five years, you'll only be able to take out $4,850. You would still be able to keep all your money if you had the same amount invested in a Roth IRA.

Here's what you should know if you're looking to convert from a traditional IRA to a gold IRA.

First, decide whether to transfer funds from an old account to your new account or to rollover your current balance. If you transfer money, income tax will apply to any earnings exceeding $10,000. If you decide to roll over your IRA you will not be subject to income tax on these earnings until you turn 59 1/2.

Once you have made up your mind, it is time to open a brand new account. You'll likely be required to provide proof of identities, such as a Social Security card, passport, and birth certificate. After that, you'll need to sign paperwork proving you own an IRA. Once you have filled out the forms, your bank will receive them. The bank will verify your identity and provide instructions for sending wire transfers and checks.

This is the fun part. Now, deposit money into your account and wait for approval from the IRS. After approval is granted, you will receive a letter saying that you are now allowed to withdraw funds.

That's it! Now, all you have left to do is relax and watch your wealth grow. If you decide to convert your IRA you can close it and transfer the remaining balance into a different IRA.

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