by Robert T. Kiyosaki, Sharon L. Lechter
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Product Description
The #1 New York Times bestselling authors of the Rich Dad Poor Dad series deliver a financial plan to help Baby Boomers survive an impending economic crash. Anyone with a 401K knows that investing in mutual funds is not safe, or so claim Kiyosaki and Lechter. Even worse, they warn that a devastating economic crash is imminent because Baby Boomers will soon be required by law to drain trillions of dollars stashed in 401Ks, IRAs, SEPs, and other mutual-fund savings accounts as they start to retire. In short, the country's financial system won't withstand the drain, and relying on a 401K and Social Security will mean financial disaster. Here, Kiyosaki and Lechter provide a financial roadmap for readers to prosper during these troubled times.
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Average Customer Review:
0 of 0 people found the following review helpful:
 You ignore this at your own peril, 2008-07-20
In his latest book "Prophecy", Robert T. Kiyosaki predicts a major stock market crash in the near future. This, he says, is a result of the baby boomers (mostly) saving for their retirement via stock investments and given that a large number of them will retire from 2016 onwards their investments will have to be cashed in as it will be needed and as a result the market will fall if not crash. Apart from that, RK says, that most baby boomers may not actually see their money ever again as more often than not most of it is invested in their own companies, i.e., the ones they work for, and if their employer goes down the drain so will their funds saved for retirement. Kiyosaki uses the demise of Enron as an example to demonstrate this.
Granted, there is nothing really new about all this. If you have spent any time working in the financial field you would know about this - although over the years I felt that people tend to stick their heads in the sand and hope that this will not happen or somehow go away
Apart from complaining about the existing system and the financial illiteracy of the vast majority of the market participants (and that would appear to be the main problem), Kiyosaki in Part II of the book sets out a game plan on how to build your own financial ark.
What I like about Kiyosaki's book is that he is pointing his finger straight at what could potentially happen and he does it in rather convincing style. There is indeed a good deal of information here that Kiyosaki has mentioned in his previous books, but I am not terribly upset about this as it serves to reinforce the message. Besides, if you haven't read any of the previous Kioysaki books, you would be stuck in the middle of nowhere if Kiyosaki left out the previously published information.
0 of 0 people found the following review helpful:
 Interesting view point, a little flawed, 2008-07-05
The premise of the phrophecy is that the baby boomers will pretty much take their money out of the stock market suddenly and cause it to crash. I suspect the market is far more vast than considered and the baby boomers' 401ks combined represents only a few drops in the bucket. If the market crashes, it won't be because of this prophecy's premise.
0 of 0 people found the following review helpful:
This book does what it's author intended., 2008-07-03
Robert Kiyosaki is a motivational speaker that also happens to sell books. If you are looking for a "How To", then you're in the wrong place. The Rich Dad, Poor Dad author seems to always strive to make you think about your financial future, and Rich Dad's Prophecy is no different.
Using scare tactics to elicit a response from you, this book strives to tell you that the stock market is a bad place to invest your money, and presents reasons for this opinion. However, looking historically, this has not been the case. One of Kiyosaki's main points is that the market will crash because all of the baby boomers will be drawing out their money at a rate that the stock market won't be able to handle.
Kiyosaki's point could be a valid one, but there is too much wealth in the world (that is not controlled by the United States' small group of retiring workers) for this speculation to be factual. Read Kiyosaki's book for the motivation it will provide if you need it. Don't read Kiyosaki's book if you're looking for ideas on how to invest your money (unless you're thinking of building a motivational book series with your "Pay Yourself First" funds).
http://rhapsodiesofross.blogspot.com/2008/06/rich-dad-richer-dad.html
1 of 1 people found the following review helpful:
A little light on advice, 2008-01-13
Kiyosaki does a great job explaining the decline to come. Par for the course, the author is less than clear with his advice. If you have not read "The Second Great Depression" or other books like it I do highly recommend this volume. However, your money may be better spent on a more technical manual on how to profit during a declining market.
3 of 7 people found the following review helpful:
 Move along..., 2007-03-17
There is nothing to see (read) here. You know now what you will get from this book. Spend your money elsewhere on Amazon.
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