Robert Kiyosaki Renews Crash Warning as U.S. Stocks Hit Fresh Record Highs

Even as the S&P 500 has continued climbing to new record highs in 2026, author and investor Robert Kiyosaki is warning that Americans with stock-heavy retirement accounts could still face a severe market downturn.

The Rich Dad Poor Dad author has repeatedly argued that investors with 401(k)s and IRAs concentrated in stocks may be exposed if what he calls the “Everything Bubble” eventually bursts.

In a post on X in July 2025, Kiyosaki asked:

“DO YOU have a 401(k) or IRA filled with stocks? Good luck. We may be on the brink of another 1929 crash and another Great Depression.”

Although the market has rallied substantially since that warning, Kiyosaki has continued to repeat the message. In March 2026, he again urged investors to own gold, silver, Bitcoin, and Ethereum as protection against a potential financial crisis.

A Dramatic Comparison

Kiyosaki’s reference to 1929 is striking because that remains one of the worst stock market collapses in history.

On Black Monday, October 28, 1929, the Dow Jones Industrial Average began a historic plunge.
By mid-November 1929, the Dow had lost nearly half its value.
The decline ultimately reached 89% from the peak by 1932.

A decline of that magnitude today would have enormous consequences for retirement savers, given how heavily many 401(k) and IRA portfolios are invested in equities.

For perspective, during the 2022 market downturn, retirement account holders were estimated to have lost roughly $3 trillion in value, according to reports cited by Kiyosaki.

Buffett and Jim Rogers: What Is Actually True?

Kiyosaki has also pointed to the actions of well-known investors as evidence that trouble may be coming.

He claimed that Warren Buffett and Jim Rogers had sold most, if not all, of their stocks and bonds.

The evidence is mixed.

Warren Buffett

Berkshire Hathaway has been a net seller of equities for 14 consecutive quarters.
The company held approximately $373 billion in cash, cash equivalents, and U.S. Treasury bills at the end of March 2026.

However, Berkshire’s filings still show hundreds of billions of dollars in equity securities, meaning Buffett remains heavily invested in the stock market despite reducing certain positions.

Jim Rogers

Rogers has publicly stated that he sold all of his U.S. stocks and has expressed concerns about America’s growing debt burden.

Kiyosaki has echoed those concerns, arguing that:

“America’s debt is out of control. America is the world’s biggest debtor nation in history.”

The U.S. national debt is now approaching $40 trillion, continuing a long-term upward trend that has become a central part of Kiyosaki’s bearish thesis.

Why Kiyosaki Prefers Alternative Assets

Kiyosaki’s response to these concerns has been consistent for years.

He has repeatedly said that he prefers to hold:

Gold
Silver
Bitcoin
Ethereum
Income-producing real estate

His argument is that these assets are less dependent on the traditional financial system and may offer protection against inflation, currency debasement, and financial instability.

Gold and Silver: His Longstanding Hedge

Kiyosaki has been advocating precious metals for decades.

In October 2023, he predicted that gold would eventually break above $2,100 and could reach $3,700 per ounce.

Gold has since moved well beyond those levels, benefiting from:

concerns about inflation,
geopolitical tensions,
central bank buying,
and investor demand for safe-haven assets.

Gold is often viewed as a store of value during periods of economic uncertainty because it is not tied to any single government or currency and cannot be created in unlimited quantities like fiat money.

Silver is frequently included alongside gold because it combines precious-metal characteristics with industrial demand, particularly from sectors such as solar energy and electronics.

Bitcoin: “People’s Money”

Kiyosaki has become increasingly bullish on Bitcoin, which he has described as “people’s money.”

He has suggested that Bitcoin could eventually reach $500,000 to $1 million, reflecting his belief that scarce digital assets may benefit if confidence in traditional currencies weakens.

Bitcoin has already experienced a dramatic rise since many of his earlier predictions:

it moved above $100,000 for the first time in late 2024,
and it has remained far above previous cycle highs, though it continues to experience significant volatility.

Supporters argue that Bitcoin’s fixed supply of 21 million coins gives it characteristics similar to digital gold, while critics note that it remains a highly speculative asset capable of sharp price swings.

Real Estate: The Asset He Trusts Most

Kiyosaki has also repeatedly emphasized income-producing real estate as a cornerstone of long-term wealth building.

Following the Moody’s downgrade of U.S. sovereign credit in 2025, he argued that rental properties could provide steady cash flow during economic downturns.

His reasoning is that quality real estate can offer:

ongoing rental income even when markets are volatile,
inflation protection because rents and property values often rise with inflation,
and tangible ownership of a productive asset.

Kiyosaki has previously said that he owns thousands of rental properties, highlighting real estate’s role in his own investment strategy.

Today, smaller investors can gain exposure to residential real estate through fractional ownership and crowdfunding platforms, which allow people to invest relatively small amounts in professionally managed rental properties.

Is Kiyosaki’s Warning Convincing?

Kiyosaki’s forecasts attract attention because he has issued similar warnings repeatedly over many years.

Critics argue that he has often predicted major crashes that did not occur when expected, while supporters say his broader concerns about debt, money printing, and financial-system fragility remain relevant regardless of the exact timing.

What is notable is that his latest warning comes during a period of strong stock-market performance rather than during a panic, making it a contrarian view at a time when investor sentiment has generally improved.

A More Balanced Perspective

For most long-term retirement investors, the key takeaway may not be that a 1929-style collapse is imminent, but that concentration risk matters.

Financial planners generally emphasize diversification across:

stocks for long-term growth,
bonds or cash equivalents for stability,
real assets such as real estate or commodities for inflation protection,
and, for some investors, a modest allocation to alternative assets such as gold or cryptocurrencies.

Kiyosaki’s comments serve as a reminder that markets can experience severe downturns and that retirement portfolios should be designed to withstand periods of volatility rather than relying entirely on a single asset class.

For now, the contrast remains striking: the S&P 500 continues to set new highs, while one of the world’s most famous financial authors is warning that the next major crash could still be ahead.

Source: Public posts by Robert Kiyosaki on X, Berkshire Hathaway filings, U.S. Treasury data, and publicly reported market information

Wealth Orbit Centre

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