Robert Kiyosaki, the celebrated author of the best-selling book "Rich Dad Poor Dad," has made bold predictions about the future prices of Bitcoin, gold, and silver. The writer anticipates a substantial surge in the values of these commodities, with Bitcoin potentially reaching a staggering $135,000. Simultaneously, he forecasts an imminent rise in the price of gold to $3,700. On another note, he cautions that those holding U.S. dollars, which he deems "counterfeit money," may face financial challenges.
Price Predictions from the Renowned Author
Robert Kiyosaki, the co-author of "Rich Dad Poor Dad" alongside Sharon Lechter, recently disclosed his future price forecasts for gold, silver, and Bitcoin. Since its publication in 1997, the book has remained on the New York Times Best Seller List for over six years, selling more than 32 million copies in 51 languages across 109 countries.
In his prediction, Kiyosaki suggests that the value of gold will surpass $2,100 and subsequently skyrocket. He further proposes that silver prices will increase from $23 to $68 per ounce. The author also shared his thoughts on Bitcoin, stating:
"Bitcoin testing $30,000. Next stop Bitcoin $135,000. Holders of counterfeit dollars are in trouble. Please inform your acquaintances to 'Wake up.' Take care."
Robert Kiyosaki's Perspective on Inflation and Wealth
According to Kiyosaki, inflation adversely affects the poor and middle class as they work for and save in dollars. In contrast, the rich are advantaged by inflation as they save and work for gold, silver, and Bitcoin. On multiple occasions, he has referred to fiat currency, including the U.S. dollar, as "counterfeit money." In his view, gold and silver are "God's money," while Bitcoin is "the people's money."
Kiyosaki's Views on Cryptocurrency and Fiat Currency
The acclaimed author has consistently emphasized that cryptocurrency is the future, predicting that fiat currency will soon be obsolete. He has also expressed concerns over the potential downfall of the U.S. dollar. Last month, he suggested that Bitcoin would become invaluable once the Federal Reserve introduces a central bank digital currency (CBDC). He also encouraged investors to buy Bitcoin in anticipation of an increase in demand for cryptocurrency as traditional markets for stocks, bonds, and real estate crash.
Kiyosaki's Past Predictions
Kiyosaki has made numerous predictions in the past about the prices of Bitcoin, gold, and silver. He previously suggested that a worldwide economic crisis would cause Bitcoin to surge to $1 million, gold to $75,000, and silver to $60,000. Earlier this year, he predicted that Bitcoin's price would reach $500,000 by 2025, with gold climbing to $5,000 and silver projected to hit $500 within the same timeframe.
What are your thoughts on Robert Kiyosaki's predictions about the prices of Bitcoin, gold, and silver? We would love to hear your opinions.
Frequently Asked Questions
What Is a Precious Metal IRA?
A precious metal IRA lets you diversify your retirement savings to include gold, silver, palladium, rhodium, iridium, osmium, osmium, rhodium, iridium and other rare metallics. These rare metals are often called “precious” as they are very difficult to find and highly valuable. They make excellent investments for your money and help you protect your future from inflation and economic instability.
Bullion is often used to refer to precious metals. Bullion refers only to the actual metal.
Bullion can be purchased through many channels including online retailers and large coin dealers as well as some grocery stores.
You can invest directly in bullion with a precious metal IRA instead of buying shares of stock. You'll get dividends each year.
Unlike regular IRAs, precious metal IRAs don't require paperwork or annual fees. Instead, you only pay a small percentage on your gains. Plus, you can access your funds whenever you like.
Is it a good idea to open a Precious Metal IRA
You should be aware that precious metals cannot be covered by insurance. If you lose money in your investment, nothing can be done to recover it. This includes any loss of investments from theft, fire, flood or other circumstances.
You can protect yourself against such losses by purchasing physical gold and silver coins. These coins have been around for thousands and represent a real asset that can never be lost. They are likely to fetch more today than the price you paid for them in their original form.
When opening an IRA account, make sure you choose a reputable company offering competitive rates and high-quality products. You should also consider using a third party custodian to protect your assets and give you access at any time.
If you decide to open an account, remember that you won't see any returns until after you retire. Remember the future.
What are some of the benefits of a gold IRA
The best way to save money for retirement is to place it in an Individual Retirement Account. It will be tax-deferred up until the time you withdraw it. You have total control over how much each year you take out. There are many types of IRAs. Some are better suited for college students. Others are designed for investors looking for higher returns. Roth IRAs, for example, allow people to contribute after they turn 59 1/2. They also pay taxes on any earnings when they retire. But once they start withdrawing funds, those earnings aren't taxed again. This type account may make sense if it is your intention to retire early.
Because it allows you money to be invested in multiple asset classes, a ‘gold IRA' is similar to any other IRAs. Unlike a regular IRA you don't need to worry about taxes while you wait for your gains to be available. This makes gold IRA accounts excellent options for people who prefer to keep their money invested instead of spending it.
Another advantage to owning gold via an IRA is the ease of automatic withdraws. This means that you don't need to worry about making monthly deposits. To avoid missing a payment, direct debits can be set up.
Finally, gold is one of the safest investment choices available today. Because it isn’t tied to any specific country, gold’s value tends to stay stable. Even in economic turmoil, gold prices tends to remain relatively stable. It is therefore a great choice for protecting your savings against inflation.
Can I buy or sell gold from my self-directed IRA
However, gold can only be purchased with your self-directed IRA. To do so, you must first open a brokerage account at TD Ameritrade. Transfer funds from an existing retirement account are also possible.
Individuals can contribute as much as $5,500 per year ($6,500 if married filing jointly) to a traditional IRA. Individuals may contribute up to $1,000 ($2,000 if married, filing jointly) directly into a Roth IRA.
If you do decide to invest in gold, you'll want to consider purchasing physical bullion rather than investing in futures contracts. Futures contracts are financial instruments that are based on gold's price. They allow you to speculate on future prices without owning the metal itself. But physical bullion refers to real gold and silver bars you can carry in your hand.
What amount should I invest in my Roth IRA?
Roth IRAs allow you to deposit your money tax-free. You cannot withdraw funds from these accounts until you reach 59 1/2. However, if you do decide to take out some of your contributions before then, there are specific rules you must follow. You cannot touch your principal (the amount you originally deposited). No matter how much money you contribute, you cannot take out more than was originally deposited to the account. If you take out more than the initial contribution, you must pay tax.
The second rule states that income taxes must be paid before you can withdraw earnings. When you withdraw, you will have to pay income tax. For example, let's say that you contribute $5,000 to your Roth IRA every year. Let's say you earn $10,000 each year after contributing. You would owe $3,500 in federal income taxes on the earnings. So you would only have $6,500 left. Because you can only withdraw what you have initially contributed, this is all you can take out.
The $4,000 you take out of your earnings would be subject to taxes. You'd still owe $1,500 in taxes. In addition, 50% of your earnings will be subject to tax again (half of 40%). So, even though you ended up with $7,000 in your Roth IRA, you only got back $4,000.
There are two types if Roth IRAs, Roth and Traditional. A traditional IRA allows you to deduct pre-tax contributions from your taxable income. You can withdraw your contributions plus interest from your traditional IRA when you retire. A traditional IRA can be withdrawn up to the maximum amount allowed.
Roth IRAs don't allow you deduct contributions. Once you are retired, however, you may withdraw all of your contributions plus accrued interest. There is no minimum withdrawal required, unlike a traditional IRA. It doesn't matter if you are 70 1/2 or older before you withdraw your contribution.
Is buying gold a good way to save money for retirement?
Although buying gold as an investment might not sound appealing at first, when you look at the average annual gold consumption worldwide, it is worth looking into.
The most popular form of investing in gold is through physical bullion bars. You can also invest in gold in other ways. Research all options carefully and make an informed decision about what you desire from your investments.
For example, purchasing shares of companies that extract gold or mining equipment might be a better option if you aren't looking for a safe place to store your wealth. If you need cash flow to finance your investment, then gold stocks could be a good option.
ETFs are an exchange-traded investment that allows you to gain exposure to the market for gold. You hold gold-related securities and not actual gold. These ETFs usually include stocks of precious metals refiners or gold miners.
Statistics
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
External Links
irs.gov
bbb.org
finance.yahoo.com
investopedia.com
How To
Guidelines for Gold Roth IRA
It is best to start saving early for retirement. It is best to start saving for retirement as soon you can (typically at age 50). It is important to invest enough money each and every year to ensure you get adequate growth.
You can also take advantage of tax-free savings opportunities like a traditional 401k (k), SEP IRA (or SIMPLE IRA). These savings vehicles allow you to make contributions without paying taxes on earnings until they are withdrawn from the account. These savings vehicles can be a great option for individuals who don't qualify for employer matching funds.
Savings should be done consistently and regularly over time. You may not be eligible for any tax benefits if your contribution is less than the maximum allowed.
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By: Kevin Helms
Title: Robert Kiyosaki's Predictions: Bitcoin, Gold, and Silver Prices Skyrocketing
Sourced From: news.bitcoin.com/robert-kiyosaki-says-bitcoin-headed-for-135000-while-gold-will-soon-take-off/
Published Date: Sat, 21 Oct 2023 23:30:15 +0000
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