Rich Dad's Prophecy answers the question on every working person's mind: "Will I ever be able to retire?" Be forewarned. With the recent volatility of the stock market and the upheavals in corporate America, millions of workers are watching their life savings melt away in front of their eyes. 401(k) plans are no longer a guaranteed fast track to a secure retirement, but what are the alternatives? Robert Kiyosaki's rich dad foresaw these unfortunate events more than two decades ago. His prophecy was that these retirement programs would cause one of the biggest stock market crashes in history...a crash that is still coming. Rich Dad's Prophecy will show you how retirement financing will affect all of us, regardless of our age or where we live. Be prepared. This book will do more than convince you of the coming stock market crash. It will show you how to build your own personal financial ark that will make sure you not only weather the storm but profit from it. And profit well. Rich Dad's Prophecy will teach you... * How the fears, dreams, and actions of millions of baby boomers will control the economic future * Why the old advice "Buy, hold, and diversify" can lead to financial disaster * How another stock market boom is on the horizon before the big bust-and when rich dad predicts it will happen * How to stay afloat amid the turbulent waters ahead-discover rich dad's favorite investments. "This is not a gloom and doom book. It is really a gloom and boom book. My rich dad would say such things as, 'Every time a law changes, the future changes.' For those who are vigilant and prepared for the changes coming, the future is very bright." -from the Introduction.
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Book Description
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.
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 the Audio CD edition.
Copyright 2002 Reed Business Information, Inc. --This text refers to the Audio CD edition.
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More About the Author
Questions from Readers for Robert T. Kiyosaki
Q
It is an honor to have the opportunity to pose a question to you. I am an American attorney based permanently in Bangkok. I have a reasonable income but continue to occupy the wrong quadrant. My question: Foreigners (who are not married to Thai...
Mari-O
asked
Nov 20, 2011
Hello and thank you for the question, I want to start off by saying that this is your life, your money and your decision. Asking for advice is good, but you must do your own research and ultimately make the decision. While one great advantage for real estate in the US is the 1031 exchange, it is certainly not the only advantage. Real estate generally has many tax and legal advantages. It also has the ability for one to take on great debt, have someone else (your tenants) pay off your debt while you keep the asset. I do not know the taxes or laws in Bangkok, but I would take the time to get educated about them to know if investing there is good for you. The idea of your turning over your hard earned money and giving it to someone else is the mindset that has eroded our society. It is a lazy mindset and one that refuses to take responsibility. If you do not know what to due with your money, then find out! Look at the four assets (commodities, paper, real estate and business) find out what interest you, get educated, build a team and take control of your future. It sounds like you have the start to a good real estate team in Austin. Leading a great team is the way to wealth. From what you've written, it sounds like you are missing a good broker to bring you the deals. Ask your existing team members for recommendations. Interview until you find a broker who has access to deal flow, understands the cash flow investing mindset and who invests him/herself. Once your team is solid, you will get the deals you need and have the ability to take advantage of the laws and tax benefits to real estate. You are off to a good start. Keep getting educated and build up your team.
Robert T. Kiyosaki answered
Dec 6, 2011
Customer Reviews
Most Helpful Customer Reviews
396 of 407 people found the following review helpful
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.
87 of 89 people found the following review helpful
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.
178 of 192 people found the following review helpful
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. If their affluence disappears, the demand for real estate will also disappear and the real estate market will experience a decline in value similar to the stock market. In the same manner, the rental income that is earned could be reduced if usage goes down or costs go up. In fact it could turn negative requiring the owner to put up more cash to save the investment.
None of this is discussed, as this world of investing is for serious real estate investors who spend all of their time on these types of opportunities. These people usually are able to avoid the bad investments and make the good investments (leaving all the bad investment to those amateurs who try to follow the book's advice).
Overall, I find it difficult to believe that there are investment opportuniuties available to 'Joe Public' that offer 20% returns without risks that justify those potential returns. I reminded of a saying of how if something sounds too good to be true ........
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. If their affluence disappears, the demand for real estate will also disappear and the real estate market will experience a decline in value similar to the stock market. In the same manner, the rental income that is earned could be reduced if usage goes down or costs go up. In fact it could turn negative requiring the owner to put up more cash to save the investment.
None of this is discussed, as this world of investing is for serious real estate investors who spend all of their time on these types of opportunities. These people usually are able to avoid the bad investments and make the good investments (leaving all the bad investment to those amateurs who try to follow the book's advice).
Overall, I find it difficult to believe that there are investment opportuniuties available to 'Joe Public' that offer 20% returns without risks that justify those potential returns. I reminded of a saying of how if something sounds too good to be true ........
Most Recent Customer Reviews
Great Book
It's like he could predict the future or something. I'm wondering if he was talking about the 2008 crash. Great buy!
Published 4 months ago by Gabriel Boudreau
You should have read this book before the stock market crash...
As a South African disconnected from the USA and UK economies I'm glad I read RDPD Prophecy long before the crash and I paid off most of my investment property's bonds. Read more
Published 9 months ago by Paul Stander
meh
All of Kiyosakis books should be read for entertainment purposes only. The messages in his books are used to sell his products. Read more
Published 13 months ago by Sid Dobashi
Major BS Artist
This guy is a major BS artist and shameless bragger. In his earlier books he's made many predictions that have been wrong. Read more
Published 17 months ago by JackMetal
Rich dad Prophecy
I have read many books in the Rich Dad series, and unfortunately, Mr. Kiyosaki continues to recycle the same concepts and themes over and over again. Read more
Published 18 months ago by geo
Skip it
There will be a stock market crash in 2016 because this will be when the Baby Boomers start retiring. Read more
Published on April 24, 2010 by Sharky
Written prior to 2008, but still relevant
I have read other Rich Dad books and I've thoroughly enjoyed their message. Like all books of this type, it is harder to act on the message than it is to read it, and since Kyosaki... Read more
Published on April 6, 2010 by Reviewer
Very good read
I am going to make this a must read for all my family members and friends. It's a real eye opener!
Published on February 3, 2010 by D. Hoover
A dire prediction almost beyond comprehension
This book is directed primarily to those middle-class wage earners, professionals, and small business owners who hope someday to retire in relative comfort with some degree of... Read more
Published on December 6, 2009 by Marvin D. Pipher
Good Information but much longer than it needs to be
Just like all the Rich Dad books I have read, the author goes back over the statements and theories multiple times. Read more
Published on December 1, 2009 by A. Arn
Inside This Book
(learn more)
First Sentence:
Both my rich dad and my poor dad were very concerned about the overall well-being of their employees. Read the first page Key Phrases - Capitalized Phrases (CAPs): (learn more)
Warren Buffett, Social Security, New York, Industrial Age, Alan Greenspan, Wall Street, World War, World Trade Center, Business Week, Berkshire Hathaway, Diane Kennedy, Merchant Marine Academy, Roman Empire, Arthur Andersen, Marine Corps, Dolf de Roos, Down Pay, Federal Reserve Board, Miami Herald, Statement of Cash Flows, Federal Reserve Bank, Number of Children, Per Child Expense, Reel Estate, Small Juice Company New!
Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Back Cover | Surprise Me!
Both my rich dad and my poor dad were very concerned about the overall well-being of their employees. Read the first page Key Phrases - Capitalized Phrases (CAPs): (learn more)
Warren Buffett, Social Security, New York, Industrial Age, Alan Greenspan, Wall Street, World War, World Trade Center, Business Week, Berkshire Hathaway, Diane Kennedy, Merchant Marine Academy, Roman Empire, Arthur Andersen, Marine Corps, Dolf de Roos, Down Pay, Federal Reserve Board, Miami Herald, Statement of Cash Flows, Federal Reserve Bank, Number of Children, Per Child Expense, Reel Estate, Small Juice Company New!
Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Back Cover | Surprise Me!
Citations (learn more)
This book cites 10
books:
See all 10 books this book cites
- Stock Market by Instructor Books in Front Matter (1), and Front Matter (2)
- The Stock Market (Economics for Today) by Robin R. Young in Front Matter, and Back Matter
- Smith Barney by Vault Reports on page 250
- The Monopoly Companion by Mr Monopoly on page 160
- Christopher Columbus (People Who Shape Our World) by Margaret Holland on page 122
See all 10 books this book cites
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