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Title: 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./Lechter Kiyosaki, Robert T. Kiyosaki, Sharon L. Lechter ISBN: 0-446-53086-7 Publisher: Warner Books Pub. Date: 09 October, 2002 Format: Hardcover Volumes: 1 List Price(USD): $21.95 |
Average Customer Rating: 3.42 (89 reviews)
Rating: 5
Summary: Will you be able to retire?
Comment: That is the question that is haunting more and more Americans today. The sharp decline in the stock market from March 2000 to October of 2002 turned their 401 (k) into a 101 (k).
Scandals on Wall Street. Enron, Worldcom, Adelphia. As I am writing this many mutual fund companies are being investigated for securities fraud. How save is your money and will you ever really be able to retire?
In "Rich Dad's Prophecy" you will learn how retirement financing will affect all of us, regardless of our age or where we live. And after it exposes the reasons behind the coming crash, it reveals not only the best ways to safeguard wealth but how to actually prosper from the events to come.
In "Rich Dad's Prophecy" you will learn:
* How the fears, dreams, and actions of millions of baby boomers
will control the economic future and the markets
* Why the old advice "Buy, hold and diversify" can lead to
financial disaster
* How another stock market boom is on the horizon before the
the big bust---and when Rich Dad predicts it will happen
* How to build your own personal financial ark to stay afloat
amid the turbulent waters ahead and discover Rich Dad's
favorite investments, including tax free bonds that
earn over 7% and more.
Be prepared and stay ahead of the curve. "Rich Dad's Prophecy" willdo 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 you'll profit well.
On the other hand, if your only strategy is to listen to your broker, then you will certaintly end up---BROKER!
Rating: 5
Summary: Definitely a must read.
Comment: Rich Dad's Prophecy is most certaintly a must read book for anyone who has money invested, especially in 401 (k) plans.
While some of the information in RDP is similiar to Kiyosaki's earlier books, the pension, retirement and 401 (k) is fresh, startling and hopefully alarming to anyone who plans on investing their money between now and 2016.
2016 is the year when the bulk of the baby boomers will be forced to liquidate their retirement funds. When this happens, a major stock market crash is expected (no kidding!) that surpass the bear market from 2000 to 2002.
Another problem is what kind of money will current savers have in their 401 (k)s? For example, before going into self employment, I worked in a local office for one of the top 6 banks in the USA and had been putting all I could into my 401 (k) savings plan. Despite this being one of the "Big 6" Banks, matching by the bank was about average (and any matching reflected in reduced wages), options to invest in were patheticly weak and the bank would match us only with shares of Bank One stock.
After reading RDP and going into self employment, I rolled my 401 (k) into a self directed IRA with a brokerage firm. I now choose my investments between stocks, mutual funds and bonds or even Tax Liens, Discounted Mortgages and Real Estate. I'm in control, not my employer.
The only real benefit of a 401 (k) is the borrowing provision which unfortunately too many so called fiancial experts discourage.
And after the Enron issue, who wants to have that much money in company stock?
Kiyosaki is alerting people and none too soon. I am certain that all of the one star reviews are from brokers, financial planners and benefits directors from companies that hope that you blindly follow their advice even it means not having anything for retirement.
I cannot emphasize the importance of reading RDP and more importantly, following the advice.
To repeat, Rich Dad's Prophecy is definitely A MUST READ!
Rating: 2
Summary: The Response of an Irritated Retiree
Comment: This is a coy book, always beating around the bush and promising more than it gives. The several admittedly useful points are buried in massive repetition and emotional narrative and other fluff. The author seems to be using this book to sell his other books which presumably will develop his advice more substantively. Why would it be necessary for a skillful investor to stoop this low to make money selling books?
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