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The legendary author of 'Rich Dad, Poor Dad' says he's avoiding stocks as he braces for the next market crash a?? and warns mom and pop investors are being set up for disaster

The legendary author of 'Rich Dad, Poor Dad' says he's avoiding stocks as he braces for the next market crash a?? and warns mom and pop investors are being set up for disaster
Matt Carasella/Patrick McMullan/Getty Images



Robert Kiyosaki, author of the best-seller "Rich Dad, Poor Dad," says investing in stocks, ETFs, or mutual funds at this time is "not safe."




He calls the Federal Reserve, Treasury, and Wall Street "complicit," and centers his criticism and market forecasts around their practices.




"The average mom and pop with a 401(k) can never retire on their 401(k)," Kiyosaki said.




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Robert Kiyosaki, author of the #1 personal finance book of all time "Rich Dad, Poor Dad," thinks public-market investors are being duped.
"Well, if you don't believe it, look at what happened in 2008 when the subprime market came down," he said on "Money Life with Chuck Jaffe," an investing podcast. "Trillions of dollars were lost and Wall Street bankers were paid billions in bonuses."
Meanwhile, the Federal Reserve's interest-rate cuts "ripped off every saver on planet earth and destroyed any returns a pensioner or retiree — or somebody who dreamed to retire — wanted to have," he said.
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