According to CryptoPotato, Robert Kiyosaki, the renowned author of the best-selling financial book 'Rich Dad, Poor Dad', has shared six rules for surviving a market crash. He has also highlighted Bitcoin as real money that appreciates in value. Kiyosaki believes that the market crash has already started and it will be severe. However, he also sees such periods as the best opportunities to accumulate wealth as 'bargains will float to the surface.'
Kiyosaki's first rule for a market crash is to avoid catching falling knives, meaning investors should not be driven by greed to buy assets when their prices are falling. Instead, they should wait until asset prices have bottomed out and there is little interest in the assets they want to acquire. During this waiting period, Kiyosaki encourages investors to study the financial sector, with a focus on real estate, taxes, stocks, and oil. He also advises investors to differentiate between real and fake tutors on platforms like YouTube.
Kiyosaki also suggests that investors should invest time in understanding the perspectives of great tutors by reading their books and listening to their podcasts. He also advises investors to make new friends who are on the same financial journey as them. He warns against associating with victims, people who blame others for their problems, and Marxists, people who expect the government to solve their problems.
In addition, Kiyosaki recommends starting small businesses as side hustles to become entrepreneurs. He believes that with the rise of artificial intelligence, millions of jobs will be lost, so it's important to become an employee who is not afraid of job loss. Lastly, Kiyosaki urges investors to save real money during a market crash, as it increases in value over time, unlike fake money which depreciates. He defines real money as Bitcoin and precious metals like gold and silver, while fake money includes fiat currencies like the U.S. dollar, Euro, and Japanese yen. 'Take care and make this crash the best thing that ever happened to you,' Kiyosaki concluded.