In 2024, “Rich Dad, Poor Dad” author Robert Kiyosaki posted on X that he sees a market crash looming on the horizon. “Good news: Crashes are the best time to get rich. Bargains will float to the surface.”
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He went on to outline six tips for not just surviving a market crash, but coming out ahead when the dust settles.
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Kiyosaki reiterated a common expression in the investment industry: Don’t try to catch a falling knife. “Just because prices are falling, do not get greedy. Wait until prices have bottomed and no one wants the asset you want.”
Of course, it’s not easy to tell when the market has reached the bottom. But one way to spot it is looking for a sudden upward trend in transaction volume, after a period of relatively stable volume through the crash. Buyers start coming out of the woodwork, while sellers have declined.
You can also look at the stock market volatility index VIX. The index spikes during market crashes, but when it reaches its peak and starts coming down again, it can indicate that a market has reached its bottom.
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“YouTube is a great source for real and fake teachers,” Kiyosaki wrote. “Invest time to get into the head of the teacher.”
Learn the fundamentals of your investing strategy of choice. If you want to pick individual stocks, learn fundamental analysis. If you want to invest passively in real estate syndications, learn how to analyze them for risk.
Once you learn the basics of investing in your chosen strategy, you can then turn your focus to studying specific investments or deals. That could mean specific stocks, ETFs, rental properties, passive real estate investments, precious metals, cryptocurrencies or any other type of asset.
Of course, the internet is flooded with bad advice, too, which means your first order of business must be to identify great sources for education.
Kiyosaki offered a few starting points for people he likes learning from for specific assets: “My real real estate teacher is Ken McElroy. Taxes: Tom Wheelwright. Stocks: John MacGregor. Oil: Mike Maucelli.”
Plenty of great educators exist in the space — and so do many charlatans.
“Be very careful who influences your brain, your attitude and your spirit,” Kiyosaki wrote.
