Is Kiyosaki just being hyperbolic, or should investors prepare for the worst?
Importantly, I received Kiyosaki's comment in an email that I could find out more by just clicking on the link to get a "free" report.
I can save you time, and future spam emails, by telling you that Kiyosaki will be correct.
However, the problem, as always, is "timing."
As discussed previously, going to cash too early can be as detrimental to your financial outcome as the crash itself.
Over the past decade, I have met with numerous individuals who "went to cash" in 2008 before the crash. They felt confident in their actions at the time. However, that "confidence" gave way to "confirmation bias" after the market bottomed in 2009. They remained convinced the "bear market" was not yet over, and sought out confirming information.
As a consequence, they remained in cash. The cost of "sitting out" on a market advance is evident.