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Rich Dad's Prophecy: Why the Biggest Stock Market Crash in History Is Still Coming...and How You Can Prepare Yourself and Profit from It! Paperback – January 1, 2004

3.4 out of 5 stars 154 customer reviews

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Editorial Reviews

From Publishers Weekly

When the first baby boomers celebrate their 70th birthdays in 2016, according to rich dad (the author's financial mentor and father of his boyhood chum), a massive stock market crash will ensue. Joining half a dozen popular Rich Dad books, this volume continues Kiyosaki's eloquent yet simple survival instructions to investors present and future. Kiyosaki's wealth stems from lessons learned at rich dad's balance sheets, and here he deftly illustrates those complex financial truths. He encourages readers-many of whom suffer from what he sees as the dismal lack of financial education in the school system-to understand factors such as ERISA, the investor-unfriendly retirement law for which rich dad vilified the government, and the overabundance of "white bread" financial advice for the masses. Wall Street has nothing to gain by smartening up investors, Kiyosaki warns, so it's up to people to educate themselves. Those convinced that reading financial statements is an activity solely for the sophisticated and the moneyed will be reassured by Kiyosaki's analogies-Noah's ark is a primary one-as he colorfully covers a host of investing esoterica and scrutinizes details every investor should recognize. "Investing time when I had no time, and investing money when I had very little money is what made me rich," he says.
Copyright 2002 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.

From Library Journal

This time, superhot financial writer Kiyosaki directs his advice to baby boomers, who are now facing retirement.
Copyright 2002 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
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Product Details

  • Series: Rich Dad
  • Paperback: 304 pages
  • Publisher: Business Plus; Reprint edition (January 1, 2004)
  • Language: English
  • ISBN-10: 0446690341
  • ISBN-13: 978-0446690348
  • Product Dimensions: 6 x 0.9 x 9 inches
  • Shipping Weight: 12.8 ounces
  • Average Customer Review: 3.4 out of 5 stars  See all reviews (154 customer reviews)
  • Amazon Best Sellers Rank: #1,444,148 in Books (See Top 100 in Books)

More About the Author

Robert Kiyosaki, author of Rich Dad Poor Dad - the international runaway bestseller that has held a top spot on the New York Times bestsellers list for over six years - is an investor, entrepreneur and educator whose perspectives on money and investing fly in the face of conventional wisdom. He has, virtually single-handedly, challenged and changed the way tens of millions, around the world, think about money.In communicating his point of view on why 'old' advice - get a good job, save money, get out of debt, invest for the long term, and diversify - is 'bad' (both obsolete and flawed) advice, Robert has earned a reputation for straight talk, irreverence and courage.Rich Dad Poor Dad ranks as the longest-running bestseller on all four of the lists that report to Publisher's Weekly - The New York Times, Business Week, The Wall Street Journal and USA Today - and was named "USA Today's #1 Money Book" two years in a row. It is the third longest-running 'how-to' best seller of all time.Translated into 51 languages and available in 109 countries, the Rich Dad series has sold over 27 million copies worldwide and has dominated best sellers lists across Asia, Australia, South America, Mexico and Europe. In 2005, Robert was inducted into Amazon.com Hall of Fame as one of that bookseller's Top 25 Authors. There are currently 26 books in the Rich Dad series.In 2006 Robert teamed up with Donald Trump to co-author Why We Want You To Be Rich - Two Men - One Message. It debuted at #1 on The New York Times bestsellers list.Robert writes a bi-weekly column - 'Why the Rich Are Getting Richer' - for Yahoo! Finance and a monthly column titled 'Rich Returns' for Entrepreneur magazine.Prior to writing Rich Dad Poor Dad, Robert created the educational board game CASHFLOW 101 to teach individuals the financial and investment strategies that his rich dad spent years teaching him. It was those same strategies that allowed Robert to retire at age 47.Today there are more that 2,100 CASHFLOW Clubs - game groups independent of the Rich Dad Company - in cities throughout the world.Born and raised in Hawaii, Robert Kiyosaki is a fourth-generation Japanese-American. After graduating from college in New York, Robert joined the Marine Corps and served in Vietnam as an officer and helicopter gunship pilot. Following the war, Robert went to work in sales for Xerox Corporation and, in 1977, started a company that brought the first nylon and Velcro 'surfer wallets' to market. He founded an international education company in 1985 that taught business and investing to tens of thousands of students throughout the world.  In 1994 Robert sold his business and, through his investments, was able to retire at the age of 47. During his short-lived retirement he wrote Rich Dad Poor Dad.

Customer Reviews

Top Customer Reviews

Format: Hardcover
How do you rate a book that has some excellent advice, but 90% of the text is redundant filler? I chose three stars because even one good idea is worth a few hours of your time. I think I would have enjoyed the audio CD more because it's probably more condensed.
The book warns of many financial obstacles, but has little in the way of strategies to avoid them.
Here. . . I'll save you some time:
The stock market is going to crash around 2016 because of a law called ERISA, so prepare yourself accordingly.
You can make money in up and down markets if you know what to do.
Don't trust your money to mutual fund managers.
Buy, hold, and diversify is not the great strategy you think it is.
Educate yourself financially, but if you don't, stick with buy, hold, and diversify.
Real estate is a better investment for many because you can control it more readily.
There. . . now you don't have to read the book. That'll be twelve dollars.
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Format: Paperback
I read Mr. Kiyosaki's first book and felt it was generally solid and a good start for the 90% of the population that is not focused on their personal finances.

This book takes his "buy income producing property" mantra a step further. He identifies a potentially real issue (massive decline in the value of the stock market) and offers his solution (buy assets that produce cashflow).

The book didn't offer a single solid idea on how to prepare for this disaster (except for repeating the idea of investing in income producing real estate over and over again). I find his brand of financial education very misleading and, based on the back pages of the book, he appears to be hocking a slew of additional "get rich quick" merchandise to gullible consumers.

He seems to equate value to the amount of cashflow that is produced and proclaims stock investments to be just paper value that can evaporate. I disagree heartly as a real estate investment is just as risky and can evaporate just as quickly.

I think he oversimplifies the process of investing in real estate rental properties. If the stock market does crash and the unprepared Baby Boomers will have to live poorly, then it is safe to assume that rental income from real estate investments could be reduced. In addition, there are hundreds of pitfalls to real estate investments that could turn them into losers that Mr Kiyosaki ignores or assumes away.

In addition, he professes to make money by receiving rental income on from his investments that provide 15-30% returns as well as profiting when he sells or re-finances the property when its value increases. He ignores that the real estate boom experienced over the last 20 years is in large part due to affluent baby boomers.
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Format: Hardcover
I did not expect to get much out of this book. I expected the usual litany of admonitions and suggestions available in hundreds of articles and basic books on finance for the masses. Despite that low expectation, the first chapter had me hooked.
With an aging population, turmoil in the stock markets, and lack of knowledge about how much money is needed for retirement, author Robert Kiyosaki gives specifics to support his theory about predictable problems facing those who hope to retire.
The book won't appeal to people who are satisfied with their current job and have no plans to change in the future. But for those who care about government policy and how these policies and demographics are impacting our society, the book is eye-opening as well as easy-to read.
The "rich dad, poor dad" vehicle gets old but is stiff an effective and sometimes entertaining vehicle for conveying information.
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Format: Audio CD
Although I enjoy Kiyosaki's entertaining writing style, I really enjoy how informative his books and this one in particular are.
In Rich Dad's Prophecy we learn why we shouldn't trust mutual fund managers (although this book was written over a year ago, look at what is happening right now with mutual funds), why "buy and hold" and "diversificiation" are not the best strategies to use and also why passively listening to your brokers (really jokers) can cause you to lose masses of money.
More importantly to the subject of this book is what is going to happen in 2016 when baby boomers liquidate their equity holdings.
Oh, and by the way, this is not a "doom and gloom" book as one individual wrote (probably a broker)this is just good, solid advice for anyone who is investing now and plans on having money invested over the next 13 years.
Some people warned about the "internet and tech bubble" a few years ago. Detractors called that "doom and gloom" thinking too but what happened?
I highly recommend Rich Dad's Prophecy. I also recommend Retire Young Retire Rich and Rich Dad's Guide to Investing.
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Format: Hardcover
You would think that by now everybody would have learned. You would think that the '87 crash taught investors a lesson and you would certaintly think that the Clinton Bear Markets followed by the Big Crash in 2000 would have really taugh everybody a lesson. What lesson? Every expansion is followed by a crash. Everytime. It happened in 1927 and as already mentioned, it happened in '87, there was the Asian crisis and two bear markets in '97 and '98 and then 'buy and hold' investors really got wiped in 2000

I am all for the stock market. I am invested. But I am not a 'buy and hold', listen to my broker and cross my fingers type hoping for the best. Robert Kiyosaki is not bearish on the stock market either. He is only cautioning people on what is going to happen again when the baby boomers retire. And just for your information, it has already started. The first leg of the baby boomers are already retiring or retired.

Rich Dad's Prophecy is not a 'Doom and Gloom', the world is crashing type of book. But it does offer words of advice on how to prepare for the coming crash.

Kiyosaki indicates that there will be another major bull market first and others such as Harry S. Dent have predicted the same thing. Dent predicted the 1990's boom before anyone else and the subsequent bust that came in 2000. Dent has predicted another bubble that will take the Dow to as high as 40,000 and the Nasdaq to 13,000 by late 2009 or early 2010. But guess what is going to follow that expansion?

I highly recommend reading Rich Dad's Prophecy, Rich Dad's Guide to Investing and The Next Great Bubble Boom by Harry S. Dent.

Remember, hope is not a strategy!
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