‘Millions will be wiped out’: Robert Kiyosaki says that the big crash he predicted is here. But now could also be the perfect time to 'get richer' — here's how

While it might be tempting to hide out in cash, "Rich Dad Poor Dad" author Robert Kiyosaki believes that it could be the ideal time to “get richer.”

In a recent tweet, Kiyosaki explains how he made a fortune by going against the herd during the Great Recession.

“2008 was great time to get rich. Everything went on sale. Borrowed millions of dollars buying real estate bargains,” he writes.

The author has also been calling for a major crash.

“2013 I published Rich Dads Prophecy predicting BIGGER crash coming. THAT CRASH is HERE. Millions will be wiped out.”

Here’s a look at two assets that might help you survive this storm.

Silver

The famous author is a long-time advocate of investing in precious metals.

Gold and silver have helped investors preserve their wealth for centuries. But this time, Kiyosaki is favoring one over the other, and it has to do with the gold-to-silver ratio — which simply refers to the number of silver ounces it takes to buy a single ounce of gold.

“FYI Gold Silver Ratio oldest tracked rate in history: For 20th Century the gold: silver ratio was 47:1…47 oz of silver=1 oz gold. Today 85:1,” he wrote in a tweet in July.

In other words, the current gold-to-silver ratio suggests that gold (silver) is relatively expensive (inexpensive) historically speaking.

Kiyosaki also prefers silver because of its industrial use.

The grey metal is widely used in the production of solar panels and is also a critical component in many vehicles’ electrical control units. The industrial demand — plus the hedging properties — makes silver a very interesting asset class for investors.

There are plenty of silver miners well-positioned for a silver price boom.

But Kiyosaki suggests a more straightforward approach — just buy the metal directly.

“I do not touch paper gold or silver ETFs,” he says. “For $25 bucks everyone can buy a silver coin.”

These days, you don’t even have to go to a bullion shop to buy precious metals. There are plenty of online platforms that offer a wide selection of silver bars and coins and fair pricing.

Gold

Kiyosaki first bought gold in 1972 when it was trading at $50 an ounce.

Today, the yellow metal trades at over $1,700 an ounce.

“I’m not buying gold because I like gold, I’m buying gold because I don’t trust the Fed,” the author told Stansberry Research last year.