‘Homeless or living in RVs’: Kiyosaki warns millions of American boomers are about to go broke — Social Security can't save them. Protect yourself now

He argues this isn’t a sudden problem — but the result of a shift decades in the making.

“In 1974 ERISA (Employee Retirement Income Security Act) was passed. Up until 1974 most employees had guaranteed retirements income for life,” he wrote. “After ERISA millions of employees went on to 401k, RRSPs, IRA which guaranteed nothing.”

Kiyosaki is referring to a major shift in how retirement is structured in the U.S.

The Employee Retirement Income Security Act (ERISA) of 1974 set rules to protect workers’ pensions, but over time, many employers moved away from traditional defined benefit plans — which promised a fixed income for life — toward defined contribution plans like 401(k)s, while IRAs were introduced for individual savers.

These newer accounts place more responsibility on individuals and are tied to market performance, meaning retirement income is no longer guaranteed and can vary widely depending on how much people save and how their investments perform.

That variability is already showing up in the data. According to Fidelity (2), the average 401(k) balance for baby boomers is $260,300, while the average IRA balance is $286,700 — figures that fall short of what many Americans believe they need to sustain their lifestyle (3).

But retirement accounts aren’t Kiyosaki’s only concern. He also warned that key government programs may not provide the safety net many Americans expect.

“Adding to the mess, Social Security and Medicare are broke,” he wrote (1). “Millions of Boomers will be homeless or living in RVs as rising oil prices cause the price of food and fuel to rise.”

Social Security is indeed facing mounting pressure. A report from the Congressional Budget Office (CBO) projects that the Old-Age and Survivors Insurance Trust Fund — the program that pays retiree and survivor benefits — will run out of money in 2032 (4).

According to the CBO, that shortfall would trigger a reduction in benefits — with payments dropping by about 7% in 2032, followed by average cuts of roughly 28% annually between 2033 and 2036.

Meanwhile, broader fiscal concerns continue to build. The U.S. national debt has surpassed $40 trillion (5) — and that number doesn’t include unfunded liabilities like Social Security and Medicare.

Add in geopolitical tensions pushing oil prices higher and the risk of renewed inflation — and the financial strain on retirees could intensify.

Against that backdrop, Kiyosaki is urging Americans to take matters into their own hands.

“I continue to recommend saving real money….gold, silver and Bitcoin….and keep investing in your personal financial education,” he wrote (1). “Make your future a rich future.”

Is he right? Here’s a closer look at those assets — and how you can invest in them today.

Precious metals

Kiyosaki has long been a vocal advocate for precious metals. His reasoning is straightforward: “I’m not buying gold because I like gold, I’m buying gold because I don’t trust the Fed,” he said in an interview back in 2021 (6).

Indeed, precious metals are viewed as a natural hedge against inflation — unlike fiat currencies, they can’t be printed at will by central banks. Gold is also widely considered the ultimate safe haven asset, as it’s not tied to any one country, currency or economy, and in times of economic turmoil or geopolitical uncertainty, investors often flock to it — driving prices higher.

Kiyosaki himself has been hoarding gold. “I have boxes of gold. I own gold mines,” he revealed in a 2025 interview (7).

He’s not alone in this stance. Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, told CNBC last year that “people don’t have, typically, an adequate amount of gold in their portfolio,” adding, “when bad times come, gold is a very effective diversifier (8).”

And the market has rewarded investors in gold. Despite a recent pullback, gold prices have surged by more than 26% over the past 12 months (9).

These days, you can even combine the recession-resistant properties of this precious metal with the tax advantages of an IRA by opening a gold IRA with the help of Newport Gold.

What’s more, if you go with Newport Gold’s Liberty Bundle, you get free setup, shipping and storage for up to three years. Plus, you can roll over your existing IRA or 401(k) into a precious metals IRA completely tax-free and penalty-free.

Newport Gold also offers a streamlined buyback program with no fees, ensuring you can liquidate your holdings whenever needed, along with their best price assurance.

If you’re interested in learning more, get your free gold guide and receive up to $20,000 in free silver when making a qualifying purchase.

Boost your income — even after you stop working

Precious metals aren’t Kiyosaki’s only strategy for building what he calls a “rich future.” In past warnings, he has also pointed to an income-generating asset he believes can hold up even during a downturn: real estate.

“I have always recommended people become entrepreneurs, at least a side hustle and not need job security. Then invest in income-producing real estate, in a crash, which provides steady cash flow,” he wrote on X in 2025 (10).

In fact, real estate has long been a go-to asset for investors seeking reliable income. While stock markets can swing wildly on market sentiment, high-quality properties often continue to generate stable rental income.

It can also be a powerful hedge against inflation. When inflation rises, property values typically increase as well, reflecting the higher costs of materials, labor and land. At the same time, rental income tends to go up, providing landlords with a revenue stream that adjusts with inflation.

Kiyosaki himself has disclosed he owns 1,500 rental properties (7).

But you don’t need to be as wealthy as Kiyosaki to get started in real estate investing.

You can tap into this market by investing in shares of vacation homes or rental properties through a platform like Arrived.

Backed by world-class investors, including Jeff Bezos, Arrived allows you to invest in shares of vacation and rental properties, earning a passive income stream without the extra work that comes with being a landlord of your own rental property.

To get started, simply browse through their selection of vetted properties, each picked for their potential appreciation and income generation. Once you choose a property, you can start investing with as little as $100, potentially earning monthly dividends.

What’s more, for a limited time, when you open an account and add $1,000 or more, Arrived will credit your account with a 1% match.

Diversify your real estate portfolio

If you’re looking to make a larger investment, you could also leverage privately held real estate opportunities. Although many of these investments are marketed to investors with capital on hand, not all are created equal.

For accredited investors looking to diversify beyond public equities, Bonaventure offers access to institutional-grade multifamily real estate investments in high-growth markets, starting with a minimum investment of $25,000.

Bonaventure focuses on income-producing apartment communities, offering potential tax advantages through structures like 1031 exchanges and UPREITs, allowing you to build passive income and wealth while the company manages the properties.

Plus, Bonaventure has a fully loaded resource center that teaches you everything you need to evaluate multifamily investments.