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Such periods, he said, are challenging but present unique opportunities toacquire wealth.
Kiyosakioutlined six strategiesto leverage during a crash to increase your chances of getting rich.
Heres what he said and which parts of his advice you canintegrate into your own financial strategy.
Whats a Financial Crash?
Such downturns can lead towidespread economic hardship, affecting employment, savings and investment returns.
In recent years, the global economy has witnessed several significant market crashes.
Kiyosakis 6 Rules for Navigating a Crash
1.
Dont Catch Falling Knives
Kiyosaki advised against impulsive buying during market dips.
As stock prices tumble, its tempting to try buying a good companys stock at a discount.
Study
Education is crucial in investment.
He suggested investors spend time finding credible sources and understanding different perspectives.
This should be avoided.
Starting a small business allows individuals to control their financial destiny and potentially secure their economic future.
However, he cautioned about the influence these figures can have on ones financial thinking.
Poor mentorship can lead to misguided strategies and financial losses.
Over-reliance onspecific financial influencerscan deter independent thinking and decision-making.
Dont Save Cash
Kiyosaki argues against saving in fiat currencies like the U.S. dollar, which devalue over time.
That way, a crash in one market does not wipe out all of your investment value at once.
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