How To Make Money During A Market Crash | Robert Kiyosaki

How To Make Money During A Market Crash | Robert Kiyosaki

Famed Author and Businessman Robert Kiyosaki talks about how to make money during a time of financial instability.

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Speaker: Robert Kiyosaki

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Transcript:
I hope I'm wrong,
but I think we're heading for a global depression,
I mean, people are depressed.
The economy stays down,
it's hard to come back up.
And now the good news is,
that for those who are prepared for it,
like you, you'll do better,
because the best time to start a business
is right after a crash.
I made more money after 2008
than ever in my whole entire life.
All the bargains are going to be on the street,
you know what I mean.
It's going to be bargains everywhere,
but everyone else is, “oh, you’re pessimistic”.
No, I'm actually optimistic.
Guys who start right after our crash
do very well, most of the time.
So let me ask you,
the average person who is watching this right now,
“ok, Robert, I'm not like you,
I don't run a company,
I don't have a brand,
I haven’t sold forty one million copies,
I don't have oil,
I don't have rental properties,
what do I do to be prepared for a time like this?
Well, first of all, everybody can do something,
but they won't,
and that's the problem.
And I think the problem with many Americans is they’re complacent,
they expect,
it'll heal itself again.
So the thing everybody can do is,
you know, like,
as I covered in “Fake”,
my first investment was a gold coin
in Hong Kong about a krugerrand.
I was flying off an aircraft carrier in Vietnam,
and I went to Hong Kong and I bought a gold kruggerand.
The date was 1972,
the reason the dates are important,
is because in 1972 it was illegal for Americans to own gold.
So I had to smuggle that little puppy
into America,
I put it in my pocket,
came off the ship and nobody checked,
but I felt like a criminal as I smuggled this gold coin,
because it was illegal for Americans to own gold
after 1933 under Roosevelt.
But that gold coin today is worth
almost two thousand dollars.
Because I understand money,
quantitative counterfeiting,
and zero interest rates,
I don't trust the dollar.
So for most of my life I've saved gold and silver,
so I have millions in gold coins and silver coins,
I just kept saving it because,
I don't trust the dollar.
So everybody can buy a silver coin today for 20 bucks,
a silver eagle is 20 bucks,
but how many people will go to a coin shop and buy it?
Probably none.
Less than one tenth of one percent of Americans
own precious metals,
and silver today
is 50 percent below its all time high,
so silver is the biggest bargain
sitting in the market as we speak today.
It's about 20 bucks, it should go to 50,
so at 20 bucks,
and I tell my friends, they go,
”oh, I’ll think about it”,
that's the problem.
So everybody can afford 20 bucks,
you know kids can afford 20 bucks,
the thing is people won’t do it,
and you know that too,
when you deal with people.
Most people are pretty sedentary,
they want to do the same all day,
“I’m happy, nothing's gonna happen,
they just trying to scare me”.
But I was talking to my doctor last night,
you know what he says,
“you've been saying this stuff for 25 years,
I never listen to you”.
You should have gold and you should have silver,
you should have
museum quality artwork
and real estate,
income producing real estate.
I have a friend in Panama,
he has an avocado farm,
so he’s sitting in
Panama growing avocados,
that's because people have to eat,
another guy is,
friend of mine is growing blueberries.
But another friend of mine,
he is from Seattle,
he had a big house,
his kids all moved out,
so he converted the kids bedrooms
into one bedroom apartments.
So he put a kitchen and he put a toilet
inside his little bedrooms,
and so he now rents out four bedrooms,
he's making more money today than ever before because
a lot of workers commute to Seattle,
so they come in, they check in,
they come in on Sunday night,
the check out Friday afternoon.

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