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Despite a stumble earlier this year, the U.S. stock market has regained its footing — with the S&P 500 going on to reach a series of record highs in 2026. That rally follows Robert Kiyosaki’s warning that Americans with stock-heavy retirement accounts could be vulnerable to a major market crash.
“DO YOU have a 401(k) or IRA filled with stocks?” the Rich Dad Poor Dad author asked in a July 2025 post on X. “Good luck. We may be on the brink of another 1929 crash and another Great Depression” (1).
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While the market has climbed significantly since then, Kiyosaki has only doubled down on that view. In a March 2026 post on X, he warned that the “Everything Bubble” could burst and urged investors to own gold, silver, Bitcoin and Ethereum as protection against a potential market downturn (2).
Kiyosaki’s comparison is a dramatic one.
From Black Monday on October 28, 1929, to mid-November that year, the Dow lost nearly half its value — and the pain didn’t stop there. By the summer of 1932, it had plunged 89% from its peak.
Even a fraction of that kind of collapse today would be catastrophic — especially given how heavily 401(k)s and IRAs are tied to the stock market. During the market sell-off in 2022, CBS News reported that 401(k) and IRA plan participants experienced an estimated loss of around $3 trillion.
Kiyosaki pointed to an exodus from traditional assets, claiming, “DO YOU know investment legends Warren Buffett and Jim Rogers have sold most if not all of their stocks and bonds?”
While Buffett’s company Berkshire Hathaway has been a net seller of equities for 14 straight quarters — and held $373 billion in cash, cash equivalents and U.S. Treasury bills at the end of March 2026 (3) — Kiyosaki didn’t cite a source for his claim that Buffett had dumped most of his holdings.
Berkshire’s latest report still shows hundreds of billions of dollars in equity securities, underscoring that Buffett remains heavily invested in markets even after trimming positions.
