Safe havens are hard to find these days.
Stocks have plunged, Bitcoin is in the doldrums and even the recently hot real estate market seems to be cooling down due to the Fed’s aggressive rate hikes.
While it might be tempting to hide out in cash, "Rich Dad Poor Dad" author Robert Kiyosaki, who made a fortune by going against the herd during the Great Recession, believes that it could be the ideal time to “get richer.”
“2013 I published Rich Dads Prophecy predicting BIGGER crash coming. THAT CRASH is HERE. Millions will be wiped out.”
Here’s a look at three assets that might help you survive this storm.
The current gold-to-silver ratio suggests this precious metal is a good option, and Kiyosaki prefers silver because of its industrial use and hedging properties.
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.”
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.
Its value is largely unaffected by economic events around the world, and because of the precious metal’s safe-haven status, investors often rush toward it in times of crisis, making it an effective hedge.
There are many ways to play gold — Kiyosaki’s simple approach is to buy gold directly.
Here's an option if you're not interested in precious metals.
Investing in artwork is a popular way to diversify because it's a “real” physical asset with little correlation to the stock market. In fact, contemporary artwork has outperformed the S&P 500 by a commanding 174% over the past 25 years, according to the Citi Global Art Market chart.
According to Deloitte’s latest Art & Finance Report, 85% of wealth managers in 2021 believed art should be included as part of a wealth management service.
Investing in fine art by the likes of Banksy and Andy Warhol used to be an option only for the ultra-rich. But with a new investing platform called Masterworks, you can invest in iconic artworks too, just like Jeff Bezos and Peggy Guggenheim do.