Precious metals, like gold and silver, are widely favored as safeguards against inflation and economic instability. Kiyosaki agrees with this, acknowledging the U.S. dollar’s disconnection from the gold standard since 1971 during the presidency of Richard Nixon.
In October, Kiyosaki predicted, “Gold will soon break through $2,100 and then take off. You will wish you had bought gold below $2,000. Next stop, gold $3,700.”
Currently, gold is sitting at roughly $2,860 an ounce.
You can take advantage of the long-term market potential of this precious metal by starting a Precious Metals IRA with help from Thor Metals.
Enabling investors to include gold or silver in their portfolio, a Precious Metals IRA can be a secure and stable investment option, enhancing diversification and safeguarding your cash value against economic uncertainties.
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Who’s right?
If you’re not an expert like Kiyosaki and Ramsey, deciding how to handle debt or what portfolio moves you should make can be a challenging task.
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If you’re unsure about where you fall on the debate between Kiyosaki and Ramsey, it might make sense to get a take from a qualified financial professional.
Kiyosaki often urges his followers on X to be cautious when choosing a financial advisor. Urging people to be cautious of the intentions of their advisors, part of a February post from Kiyosaki reads: “Don’t be a loser. Choose your financial advisors carefully.”
There are free online services that are designed to match you with experienced professionals based on your unique needs.
With Vanguard for example, you can connect with a personal advisor who will help assess your portfolio and ensure you meet your financial goals in time for retirement.
Vanguard’s hybrid advisory system combines advice from professional advisors with automated portfolio management to make sure your investments are working to achieve your goals.
All you have to do is fill out a brief questionnaire about your financial goals, and Vanguard’s advisors will help you set a tailored plan and stick to it.
Once you’re set, you can sit back as Vanguard’s advisors manage your portfolio. Because they’re fiduciaries, they don’t earn commissions, so you can trust that the advice you’re getting is unbiased.
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Learn MoreManaging high-interest debt
While Kiyosaki advocates using debt to acquire assets, it’s important to remember that this approach carries many inherent risks. For example, high-interest credit card debt is not the kind you want hanging over your head, as it can quickly become unmanageable.
If you are buried in this type of debt, an online marketplace called Credible can help you consolidate to tackle it more efficiently.
Credible helps you to find the lowest interest rates on loans up to $100,000. Instead of throwing away your hard-earned money on multiple interest payments, Credible allows you to combine all your debt into one monthly payment, instead of juggling multiple lenders with different interest rates.
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