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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!
 
 
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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! [Abridged, Audiobook] [Audio CD]

Robert T. Kiyosaki (Author, Reader), Sharon L. Lechter (Author), Jim Ward (Reader)
3.4 out of 5 stars  See all reviews (93 customer reviews)

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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 the Hardcover edition.

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.
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Both my rich dad and my poor dad were very concerned about the overall well-being of their employees. Read the first page
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Customer Reviews

93 Reviews
5 star:
 (39)
4 star:
 (10)
3 star:
 (7)
2 star:
 (22)
1 star:
 (15)
 
 
 
 
 
Average Customer Review
3.4 out of 5 stars (93 customer reviews)
 
 
 
 
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6 of 6 people found the following review helpful
3.0 out of 5 stars Good information, but painfully repetitive., Jan 27 2004
By 
Bruce Hurley (Boca Raton, Florida United States) - See all my reviews
(REAL NAME)   
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.

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9 of 11 people found the following review helpful
2.0 out of 5 stars A poorly written book based on a bad assumption..., April 19 2004
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)
Basically, RK uses this installement in the Rich Dad/Poor Dad series to claim that the stock market is due a big fall when, by federal law, Baby boomers start to withdraw equity from their tax deferred retirement vehicles at age 70.

This means that RK is predicting not only stock market performance over a decade in the future, he's also predicting tax law over a decade in the future.

The chances that the tax code governing 401k's will weather the years unscathed are miniscule. And it's a good thing too. RK's "ark" of choice - real estate - would also plummet in value during a massive depression where paying tenents would be scarce.

Going into a depression saddled with large real estate debt is a surefire way to be living under an overpass in a cardboard box for your retirment.

RK's got a point -- the market will be hurt when Baby Boomers liquidate their assets to live off of in retirement. But its doubtful that the government will force this selloff when the boomers get here. This shouldn't stop a wise investor from making long-term stock purchases or using more creative vehicles to make money.

I like that RK is so enthusiastic and assertive about getting your financial life in order and making a change in the way that you make money. Investments are great and people should build up some investments for their futures. But this book is founded on such shakey soil that it's difficult to stomach. Pick up some of his others (Rich Dad/Poor Dad or the Cashflow Quadrant) if you need a pick-me-up.

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5.0 out of 5 stars Excellent Information, April 17 2006
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! (Paperback)
There are those who heed the truth and those who are cynical of the truth (The Haters) Its true that history does repeat itself, and only the ones who receive the wisdom of truth and correction, take heed and prepare. Only an arrogant fool ignores critisism and continues down the path of destruction. I would hate to say it but for everyone who gave this man poor stars, Only fools will have to learn the hard way. Just like 9-11, we never thought or dreamed in a million years it would happen and it did.
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