R. Kiyosaki warns that an S&P crash could devastate millions of 401ks and IRAs

Amid ominous predictions signalling an imminent and substantial crash across various markets, Robert Kiyosaki, the renowned investor and bestselling author of ‘Rich Dad Poor Dad,' has recently turned his attention squarely to the stock market, with a specific focus on the S&P 500 index. 

With a net worth of $100 million, Kiyosaki expresses the belief that this impending crash could potentially devastate the retirement plans of millions.

In a recent post published on December 11, reiterating his previous cautions, the ‘Rich Dad' author alerted his followers that the next warning pertains specifically to the S&P, predicting that it “will impact millions of 401ks and IRAs.” This reference is directed towards the widely utilized pension savings vehicles in the United States, as elucidated in an X post.

Addressing retirement accounts, Kiyosaki emphasized both the employer-based pension account, commonly known as the 401(k), and the individual retirement account (IRA). In the former, employers deduct a portion from employees' paychecks for investment in mutual funds, stocks, and bonds of the employee's choosing, while the latter allows individuals to invest independently.

The interconnectedness of these retirement accounts with the stock market, particularly the S&P index, leads Kiyosaki to anticipate widespread repercussions if the looming crash of the S&P 500 materializes, affecting both employer-dependent and independent retirement plans for millions.

Simultaneously, Kiyosaki sounds an alarm about a potential “global banking crisis” and criticizes the integrity of the US banking system. Urging his followers to take proactive measures, he advocates for investment in assets such as Bitcoin (BTC), gold, and silver “while there's still time,” underscoring his track record of accurate crash predictions. 

Notable among these forecasts are the Lehman Brothers collapse in 2008 and the Credit Suisse crash in 2023. 

Currently, Kiyosaki speculates that UBS, the United Bank of Switzerland, may be the next banking giant to encounter challenges, especially after it acquired Credit Suisse in March, which he suggests played a crucial role in averting bankruptcy at that time.