When the generation known as 'Baby Boomers' begin to retire and cash in on their plans, there's a chance that this drain on reserves could cause a major devaluation in people's savings. This book offers a plan to help you prepare for the worst, offering alternative investments.
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.
Copyright 2002 Reed Business Information, Inc.
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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
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Most Helpful Customer Reviews
391 of 401 people found the following review helpful:
3.0 out of 5 stars
Good information, but painfully repetitive.,
By
This review is from: 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! (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 88 people found the following review helpful:
5.0 out of 5 stars
Prophecy: Timely and Scary for Majority of Baby Boomers,
By Ralph Smith (Destin, FL) - See all my reviews
This review is from: 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! (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.
114 of 121 people found the following review helpful:
5.0 out of 5 stars
I had to see what all of the fuss was about,
By A Customer
This review is from: 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! (Hardcover)
After reading several 1 star reviews in a row (same person no doubt with lts of free time and a agenda) I had to go down to my local bookstore and chek out Rich Dads Prophecy.After browsing through it, I had to buy it and after buying it, I stayed up all night reading it.This is possibly Kiyosaki's best book to date. While at the bookstore I also noticed an article about pensions and other retirement accounts in Newsweek by Jane Bryant Quinn. All I can say is, thank God for people like RTK and books like Rich Dads Prophecy.Oh by the way, I didn't buy Newsweek. That article by Quinn was the only thing ever partly interesting and even that was a big clunker. The only thing worse than her articles is her book.Rich Dads Prophecy is a good read. I highly recommend it.
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Inside This Book
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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 - Statistically Improbable Phrases (SIPs): (learn more)
rich dad, coming stock market crash, making poor financial decisions, biggest stock market crash, own ark, middle mind, financial literacy, control over the rules, financial education, paper assets, poor dad, lower mind, safe sanctuary, systematic withdrawal, good debt Key Phrases - Capitalized Phrases (CAPs): (learn more)
Warren Buffett, Social Security, New York, Alan Greenspan, Wall Street, World War, Business Week, World Trade Center, Berkshire Hathaway, Diane Kennedy, Merchant Marine Academy, Arthur Andersen, Marine Corps, Roman Empire, Dolf de Roos, Federal Reserve Board, The Betrayed Investor, Federal Reserve Bank, Miami Herald, Pay Check, Per Child Expense, Small Juice Company, Statement of Cash Flows, Time Life, Total Expenses New!
Books on Related Topics | 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 - Statistically Improbable Phrases (SIPs): (learn more)
rich dad, coming stock market crash, making poor financial decisions, biggest stock market crash, own ark, middle mind, financial literacy, control over the rules, financial education, paper assets, poor dad, lower mind, safe sanctuary, systematic withdrawal, good debt Key Phrases - Capitalized Phrases (CAPs): (learn more)
Warren Buffett, Social Security, New York, Alan Greenspan, Wall Street, World War, Business Week, World Trade Center, Berkshire Hathaway, Diane Kennedy, Merchant Marine Academy, Arthur Andersen, Marine Corps, Roman Empire, Dolf de Roos, Federal Reserve Board, The Betrayed Investor, Federal Reserve Bank, Miami Herald, Pay Check, Per Child Expense, Small Juice Company, Statement of Cash Flows, Time Life, Total Expenses New!
Books on Related Topics | 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
9
books
cite this book:
See all 9 books citing this book
- The Business School for People Who Like Helping People by Robert T. Kiyosaki in Back Matter
- Smith Barney by Vault Reports on page 250
- The Monopoly Companion by Mr Monopoly on page 160
- When Genius Failed: The Rise and Fall of Long-Term Capital Management by Roger Lowenstein on page 253
- Christopher Columbus (People Who Shape Our World) by Margaret Holland on page 122
See all 10 books this book cites
- 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! by Robert T. Kiyosaki in Front Matter, Back Matter (1), and Back Matter (2)
- Rich Dad's Guide to Becoming Rich...Without Cutting Up Your Credit Cards by Robert T. Kiyosaki in Front Matter, Back Matter (1), and Back Matter (2)
- Rich Dad's Success Stories: Real Life Success Stories from Real Life People Who Followed the Rich Dad Lessons by Robert T. Kiyosaki in Front Matter, Back Matter (1), and Back Matter (2)
- How to Buy and Sell a Business: How You Can Win in the Business Quadrant (Rich Dad's Advisors) by Garrett Sutton in Front Matter, and Back Matter
- Real Estate Loopholes: Secrets of Successful Real Estate Investing by Diane Kennedy in Front Matter, and Back Matter
See all 9 books citing this book
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