‘Homeless or living in RVs’: Kiyosaki warns ‘millions’ of American boomers are about to go broke. Protect yourself now

Robert Kiyosaki, author of "Rich Dad Poor Dad," has warned that millions of American baby boomers could become broke after retiring. In a recent X post, he stated that these individuals may find themselves homeless or living in RVs, due to rising oil prices driving up the cost of food and fuel. This prediction stems from Kiyosaki's belief that the traditional retirement structures in the U.S. are no longer reliable.

The Employee Retirement Income Security Act (ERISA) of 1974 shifted retirement funds from guaranteed pension plans to less secure 401(k)s, IRAs, and other market-linked accounts. These investments are subject to market fluctuations, leaving many boomers uncertain about their financial future. Additionally, Kiyosaki pointed to the potential insolvency of key government programs like Social Security and Medicare, which could further exacerbate this situation.

The Congressional Budget Office projects that the Old-Age and Survivors Insurance Trust Fund, which funds Social Security, will run out of money in 2032, triggering a significant reduction in benefits.