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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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In the near future, the vast majority of Baby Boomers will be on the verge of retirement - and looking to cash in on their retirement plans. This will be a major drain on cash reserves for which no-one is ready and there's every chance that peoples' lifelong savings will dramatically lose their value. Now for the good news: sensing this financial crisis is in the offing, K In the near future, the vast majority of Baby Boomers will be on the verge of retirement - and looking to cash in on their retirement plans. This will be a major drain on cash reserves for which no-one is ready and there's every chance that peoples' lifelong savings will dramatically lose their value. Now for the good news: sensing this financial crisis is in the offing, Kiyosaki and Lechter provide a detailed financial plan aimed at helping forward-thinking people prepare for the worst - and they urge that one must start planning NOW! They cover a variety of alternative ways of generating wealth through other forms of investment, including real estate, self-employment and investing in companies.


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In the near future, the vast majority of Baby Boomers will be on the verge of retirement - and looking to cash in on their retirement plans. This will be a major drain on cash reserves for which no-one is ready and there's every chance that peoples' lifelong savings will dramatically lose their value. Now for the good news: sensing this financial crisis is in the offing, K In the near future, the vast majority of Baby Boomers will be on the verge of retirement - and looking to cash in on their retirement plans. This will be a major drain on cash reserves for which no-one is ready and there's every chance that peoples' lifelong savings will dramatically lose their value. Now for the good news: sensing this financial crisis is in the offing, Kiyosaki and Lechter provide a detailed financial plan aimed at helping forward-thinking people prepare for the worst - and they urge that one must start planning NOW! They cover a variety of alternative ways of generating wealth through other forms of investment, including real estate, self-employment and investing in companies.

30 review for 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!

  1. 5 out of 5

    Erica

    This book provides some good investing pointers. I actually took some notes. He predicts that the baby boomers retirement will cause the biggest stock market crash in history. His reasoning is mainly summed up in the changes that came with the enactment of ERISA in 1974 and the followed rise of mutual funds for uneducated investors. Overall, I see his point of view--especially the need to educate yourself financially. Gain experience investing, read, study, attend classes...however your learn be This book provides some good investing pointers. I actually took some notes. He predicts that the baby boomers retirement will cause the biggest stock market crash in history. His reasoning is mainly summed up in the changes that came with the enactment of ERISA in 1974 and the followed rise of mutual funds for uneducated investors. Overall, I see his point of view--especially the need to educate yourself financially. Gain experience investing, read, study, attend classes...however your learn best. This book made me think more seriously about my financial intelligence. I'm going to read all the books he recommends in this one. I'll let you know how that goes. I just put them all on hold at the library. :)

  2. 5 out of 5

    Ron Wroblewski

    There was good advice in this book. I really don't want to spend the rest of my life as an investor, but his advice on investing is good. I was surprised to see the author graduated from the Merchant Marine Academy, because my son did also. And the author was a Marine and so was I. I like his emphasize on being truthful and having integrity in every aspect of your life.

  3. 4 out of 5

    Alok

    An okay book. Predicts that the crash will happen sometime in 2016-17 when baby boomers start retiring and start withdrawing money from stock market to support themselves. Too much focus on this aspect alone. Too many words have been wasted to explain things. Book should have been concise.

  4. 5 out of 5

    Josh

    are You ready to face the real world? 33 I believe most people fall into one of those two categories . . . and that will determine who will take the risk for the best of life or settle for the same life today . . . and the same life tomorrow I risked everything because I wanted a much better tomorrow . . . that is the best answer I have for explaining how I stood up again, after I lost everything. I risked, lost, and stood up because I still wanted the same thing ... a better tomorrow. Most peopl are You ready to face the real world? 33 I believe most people fall into one of those two categories . . . and that will determine who will take the risk for the best of life or settle for the same life today . . . and the same life tomorrow I risked everything because I wanted a much better tomorrow . . . that is the best answer I have for explaining how I stood up again, after I lost everything. I risked, lost, and stood up because I still wanted the same thing ... a better tomorrow. Most people stay where they are, like my beach boy friends, because today is safe and they want tomorrow to be safe. Unfortunately, most of us know that today will eventually come to an end and tomorrow will begin. Even my beach boy friends know that. Rich dad knew how big a financial hole I had blown in my financial statement and in my personal life. As he said when he looked at my business's financial statement a few months earlier, "Your company has financial cancer." Although he knew I was out of money, had no place to live, and no job to go to, he never offered me a job or any financial support. . . and I did not want or expect any such support. I had been studying with him for over twenty years and I knew what was now expected of me. My poor dad was very understanding. He offered several times to give me money, but I was aware of his financial position, and he was in very bad financial shape. He was not much better off than me. He had his house but now in his late fifties, he was almost totally dependent upon a small early retirement pension from the teachers union. What little savings he did have, he lost on an ice cream franchise that failed. That was my dad's first foray into the real world of business and the world of business pounded him not for his academic brilliance but his lack of real-world experience. He was also having trouble finding a job because of his age and because of his ego. Having once been the boss—the superintendent of education—I believe he found it tough asking for a job from people much younger than him. He also got very angry when told that his experience in state government did not transfer over to the business world. He was often told, "You have great work experience, you are definitely successful, but your skills are not what we need. We cannot use what you have spent your lifetime learning." He then did what many men at his age and in his predicament do, he became a consultant. I do not know if anyone hired him, but the title seemed to quell a pain inside of him. One of the things that really kept me going was a vow I made at that time 34 and the vow was: "I would never let my own ignorance, arrogance, or fear get in the way of the life I know I can have." I saw what age, arrogance, lack of practical real-world skills, lack of financial intelligence, lack of up-to-date information, dependence upon a government handout, was doing to my dad and I vowed I would use his example as a lesson, an example of what I would not become. At that moment, I vowed to become a student again and my education began with first cleaning up my personal financial statement ... a statement that reflected the mess my financial ignorance and arrogance had gotten me in. I then vowed to listen to rich dad and begin to study what most people do not study. Since the age of nine, rich dad had been an important mentor to me. Now at the age of thirty-two, I vowed to learn more from him as an adult. . . relearn the same lessons as a child but now as an adult. I knew that my surfing and rugby days were coming to an end, and as sad as that thought was, I was also looking forward to the future ... a new and different future ... a future that gave me more control over the subject of money and the rest of my life. I say this because I did not want to grow up to be like my poor dad, a man who was now a consultant still looking for work as he neared his sixties because he realized his pension was inadequate. I did not want to wait till I was sixty to make the changes I was making in my thirties. I did not want to wait till I was sixty to find out that there was not enough money in my retirement plan for me to live on for the rest of my life. My vow at thirty-two was to clean up my financial life, get educated, and take care of my future today—not tomorrow. As I was preparing to move out of my apartment, which I could no longer afford, and wondering where I was going to live next, a friend called. He was moving to California for four months on a job assignment and asked me if I would care for his house, water his plants, and feed his dog. So that solved my housing problem—at least temporarily. Money seemed to come in different forms. Checks would appear in the mail, just in the nick of time, from overpayments, refunds, and money from the bill collectors who had finally collected some of the money owed the business. But even though the checks came in, they were infrequent and there were days when I could not eat simply because there was not any money. As tough as things were at times, the reason I say this period of time was a good one is because it gave me time to find out who 1 was and what I was made of. Chapter 11 Taking Control of the Ark "If you are going to build a rich ark," rich clad said, "you need to be in control of its construction, what is loaded in the cargo holds, and who is steering it." After the market crash of March 2000, millions of people came to feel less secure about their financial future. Why? Because they were not in control of their ark or its cargo, and many did not know who their skipper was. Rich dad stated that security and freedom were not the same words, in fact they were almost opposite from each other. Rich dad said, "The more security you gain, the more freedom you lose." He also said, 'A person who seeks security often gives up control over parts of their lives. The more control you give up, the less freedom you have." Many people feel insecure about their financial future and retirement because they have given up most of the control over their financial future. In Rich Dad Poor Dad, I stated that rich dad said the most important word in business was cashflow. In Retire Young Retire Rich (book number five in the Rich Dad series), I wrote that the second most important word was leverage, the ability to do more and more with less and less. Although rich dad never directly said it, if there was a third most important word in his vocabulary, I believe it would be the word control. Here are a few observations about the word control as it relates to cash flow: 68 rich dad's prophecy we need to know the difference between an asset and a liability. Rich dad's point was that many people struggled financially simply because they purchased liabilities they thought were assets. "So how can a book on accounting be so popular?" asked the banker. Smiling, I said, "Well, it's more than a book on accounting. It's also a book on personal accountability." "Personal accountability?" replied the banker. "Why personal accountability?" "First of all, understanding accounting gives me control over my finances and my future. I can run my own businesses and I don't need someone else to do my investing for me," I said. "Secondly, personal accountability means I do not let people lie to me." "Lie to you?" said the banker. "What do you mean by lie?" "Well look at this Enron case." "Oh," smiled the banker. "I understand." How Do You Tell Gold from Fool's Gold? Warren Buffett, America's richest investor, believes that understanding accounting is a form of self-defense. On this subject he said: "When managers want to get across the facts of a business to you, it can be done within the rules of accounting. Unfortunately, when they want to play games, at least in some industries, it can also be done within the rules of accounting. If you can't recognize the differences, you shouldn't be in the equity-picking business." When the Enron affair broke, one of the questions asked was, "What is pro-forma accounting?" which was one of the methods of accounting Enron was using when the roof caved in. Rich dad would say, "Proforma accounting is an accounting report that should begin with the words, "Once upon a time . . ." Or, "In a perfect world ..." Or, "If everything goes as planned ..." In 1999, at the height of the stock market boom, I was invited to a school to talk about the importance of teaching young people financial literacy. A teacher raised his hand and proudly said, "We do teach financial literacy in our school. We're teaching kids how to pick stocks." "Do you first teach them to read the annual reports and financial statements?" I asked. control #1: control over yourself 169 "No. I just have them read the reports from the market analysts. If the analyst gives the stock a buy recommendation, we buy, and when they recommend a sell, we sell." Not wanting to be obnoxious, I simply smiled and nodded my head saying, "How are they doing?" He beamed and said, "The average portfolio is up over 20 percent." I smiled and thanked him for teaching. I did not say anything after the word teaching. I did not want to say what I feared he was teaching those kids to be. Just before the Enron scandal broke, sixteen out of seventeen market analysts were giving Enron a buy recommendation. When Warren Buffett says, "If you can't recognize the differences, you shouldn't be in the equity-picking business," he means if you are not financially literate, you shouldn't be picking stocks. Rich dad would say, "Picking stocks without first knowing how to read a company's financial statements is gambling... not stock picking." In rich dad's mind, ERISA forced millions of people to become gamblers . . . not investors. . . gambling with their future financial security. Instead of filling their retirement arks up with gold, they spent a lifetime being fooled and filled their arks with fool's gold. So the problem of a worldwide lack of financial literacy is a problem far beyond just the ENRON and the Arthur Andersen scandal. Rich Dad Poor Dad is a book about accounting, but it is also a book about accountability. As accounting questions continue to surface with companies such as with Enron, WorldCom, and Xerox, it is obvious that the basics of financial accountability, not just accounting, are being overlooked. Enron used "off balance sheet" accounting to account for liabilities. In other words, its financial statement did not correctly show all liabilities. This would be similar to a person who doesn't want to list all of his credit card debt on his own financial statement. It's not only bad accounting, it's a lack of accountability. With the financial collapse of WorldCom, we have to consider Rich Dad's definition of assets versus that of the conventional "banker's" definition. Rich dad told us that an asset puts money in your pocket. When an expense is "capitalized" (moved to an asset) and then amortized or depreciated over time (gradually expensed), it increases assets and decreases expenses. But, remember that Rich Dad told us that an asset has to put money in your pocket. Changing an expense into an asset doesn't put more money in your pocket. Assets will put money in your pocket and liabilities will take money out of your pocket." More graphically he said, "If you stop working, assets feed you and liabilities eat you." After March of 2000, millions of people, not just Enron workers, found out that their arks, their retirement plans, were eating them alive, simply because they had no control over which way the cash was flowing. A liability is anything that takes money from your pocket. That means a personal residence, the dream of the middle class, is more often a liability, rather than an asset. If a person rented out that home and the rental income was greater than all the expenses, then that same home would shift from the liability column to the asset column. Personal Residence Turned into Rental Property As a young boy, I learned that a house could be either an asset or a liability. That simple little lesson changed the direction of my life because I was less apt to be fooled . . . fooled into blindly believing my house is an asset. If not for that simple little lesson early in life, I am certain I would have wound up like my parents, buying a house, car, furniture, television sets, jewelry, believing in my mind and in my heart that I was buying assets. My mom and dad truly believed in their hearts they were buying assets ... instead they were fooled by popular cultural myths, the financial myths of the middle class and poor. Now I can hear some of you saying, "What if I do not have a mortgage on my house? What if it is free and clear?" Or "What about all the appreciation my house has gained?" Or "What about my car? Isn't that an asset?" Those questions are answered in Rich Dad Poor Dad and in other books and tapes. But in short, the answer is the same—it is cash now that determines if something is an asset or a liability. In other words, a house without debt can still be a liability . . . because it is not debt that determines if something is an asset or liability ... it is the direction of cash flowing between the income statement and balance sheet. Resources If you are interested in learning how to take more control of your own ark and its cargo the following educational products are designed to assist your in that learning process: 1. The Retirement Myth: A book written by author Craig S. Karpel and published by HarperCollins, first published in 1995. This book shares the same concerns my rich dad had about DC pension plans. If you would like more detail on how severe the problem is and what you can do to protect yourself, read this book. The book explains why the near future holds great risk to job security, pension plans, Social Security, the stock market, housing prices, and more. 2. How I Built My Ark CASHFLOW 101 not only teaches the basics of financial literacy, but the educational game also points out the four different levels of investing found in the real world. In building our ark, Kim and I followed the real-life investment plan found in the game itself. The Four Investment Levels LEVEL #1: SMALL DEALS On the CASHFLOW game board small deal investment cards and big deal investment cards are found. When most investors start out, they start out with small deals. Of course there is always the egotist, just as in real life, who wants to start with a big deal, even though they do not have any money. In real life, in the early 1970s, I purchased my first piece of investment real estate. It was an $18,000 condominium on the island of Maui. Even though I did not have much money, I was able to buy three of those $18,000 condominiums, raising investor money for the down payment. I then sold them for $48,000 each in less than a year, netting me $90,000, which was split between myself and my investors. I made more that year from my investments than I did at my job at Xerox and, from then on, I was hooked on learning to become a better investor. In real life, Kim purchased her first investment property in 1989. It was a two-bedroom, one-bath rental home that sold for $45,000. It took a $5,000 down payment and she made approximately $25 a month positive cash flow. 198 Although Kim was very nervous, she gained a tremendous amount of experience, experience that serves her well today. Today, we continue to do a few small deals. I wrote earlier about investing in municipal mortgage REITs, which pay a 7.75 percent tax free return on our money. While most people are only receiving 2 percent taxable interest from their hanks, we receive nearly a 12 percent effective return on our money. In order to play this investment, you must watch stock market trends and the short-term interest rates dictated by the Federal Reserve Bank. That means every time someone like Alan Greenspan talks, you had best listen. LEVEL #2: BIG DEALS Once a CASHFLOW player has made some money from investing in small deals, they are now ready to take on bigger deals. Kim and I did this in real life. After we had purchased nearly twelve small properties, we were ready to sell them through a tax-deferred 1031 exchange, which means we did not have to pay the capital gains tax that stock investors often have to pay. After we sold our twelve small deals we were ready to move on to bigger deals. With the proceeds from those small deals we purchased two larger apartment houses and we were able to retire in 1994. In other words, it took Kim and me less than five years to move from small deals to big deals and retire. After we retired we began looking for other big deals, capitalizing on our experience. Following are examples of other types of big deals: PREPs. Kim and I like to invest in private real estate partnerships, or what we call PREPs. No one else calls them that. It is simply a code name we gave to this form of real estate investing. A PREP is more often called a real estate syndication and is simply a private partnership that is formed to buy a large real estate investment. The following is an example of a PREP. In an earlier book I wrote about wanting to buy a new Porsche for $50,000. Instead of wasting my money on the Porsche, which is a liability, Kim and I pooled our money with nine other investors, raising $500,000 equity, and purchased a mini-storage warehouse with the mortgage financing coming from a bank. That warehouse paid each partner approximately $1,000 to $1,400 a 199 month in cash flow. I do not know what the other partners did with their monthly cash flow check but Kim and I used our checks to make the monthly payments for the Porsche. After three years, the mini—storage warehouse was refinanced. We then got our initial $50,000 back, which we reinvested in another PREP. And we continue to receive our monthly cash flow, which has grown to approximately $2,000 a month, since the rents went up. If the property were sold today, we stand to make an additional $100,000 to $200,000 from capital gains . . . and I still have the Porsche. This is an example of an asset buying our liability and helping us with our early retirement. Since we no longer have any money in the investment, and we still receive our $2,000 a month, what is our new ROI (return on investment)? Infinite. Kim and I invest in one or two of these types of PREPs a year. Our average returns are 15 percent to 25 percent cash-on-cash returns, plus the offsetting depreciation deductions, which are not really losses but phantom cash flow. This can easily put our returns in the 50 percent or more range. Try doing that with most mutual funds. We like these investments because the risk is shared, we use our banker's money, the investment is secured to real estate, we receive monthly cash flow, there is a strong potential for capital gains if the property goes up in value, the income is tax-advantaged,

  5. 4 out of 5

    Nam Pham

    It's a great reminder on how to invest on/control yourself instead of relying on others. I really like his opinions about the educations that a person today needs: academic, professional and financial. An interesting point about the professions as well: one is how we make money and the other one is how we invest our money. Some of my favorite quote are: 1. 'Excuses are the words coming from the loser in you" 2. 'The only silly question is the one you don't ask'

  6. 4 out of 5

    Ron II

    So a purported expert on real estate investing is now predicting a massive stock market collapse? Are you kidding us?!?! At the time this book was published in 2002, the S&P 500 had already fallen 49%, which means the crash had already happened. Piling into real estate didn't save people. Fast forward to 2012: U.S. homeowners are still trying to recover from the meltdown in residential real estate prices the same author didn't foresee. Or did he accurately predict that too? Be skeptical of self- So a purported expert on real estate investing is now predicting a massive stock market collapse? Are you kidding us?!?! At the time this book was published in 2002, the S&P 500 had already fallen 49%, which means the crash had already happened. Piling into real estate didn't save people. Fast forward to 2012: U.S. homeowners are still trying to recover from the meltdown in residential real estate prices the same author didn't foresee. Or did he accurately predict that too? Be skeptical of self-absorbed authors who make fantastic predictions. Are they doing it to help readers or to sell books?

  7. 5 out of 5

    Katie

    I don't think the author ever completed one thought or finished one point they were trying to make. That was frustrating. Since the book was written in 2002, it was interesting to read the perspective on the stock market crash. There were a few decent financial points, but overall just lots of the author patting himself on the back and encouraging people to take the same risks he's taken to make his fortunes, regardless of their personal financial situation.

  8. 5 out of 5

    Allison

    insightful, but a lot of the same advise, or lack of it

  9. 4 out of 5

    Tihomir

    One of the greatest books from Mr. Kiyosaki. It contains a lot of useful information related to the investment and financial independence.

  10. 5 out of 5

    Frank Deschain

    The whole Rich Dad series is basically a guide for the Cash Flow games, but the Cash Flow games are a microcosm of real life so all information is relevant to how we all make a living/money/fortune, etc. It can be the sort of book that puts some people off just because financial literacy isn't encouraged in our society. This book's particular message is the Erisa Act caused governments and corporations to push 401ks on an unsuspecting public. 401ks are backed by nothing and I actually think it's The whole Rich Dad series is basically a guide for the Cash Flow games, but the Cash Flow games are a microcosm of real life so all information is relevant to how we all make a living/money/fortune, etc. It can be the sort of book that puts some people off just because financial literacy isn't encouraged in our society. This book's particular message is the Erisa Act caused governments and corporations to push 401ks on an unsuspecting public. 401ks are backed by nothing and I actually think it's criminal how much they are pushed to the mainstream. Anyways it's a good reminder to continually educate myself on the many secret ways that our society actually functions. Bottom line: Don't invest in 401ks.

  11. 5 out of 5

    Sean

    I read this in 2018 and this book predicts that the crash will happen beginning in 2016. So on that front it's a total failure. However, we all know that markets have been artificially inflated by the fed so making a prediction like that is pointless in the NWO. Despite this, it's still a light and easy read with good practical advice for the average investor.

  12. 5 out of 5

    Gavin

    Interesting take on how we need to do be knowledgeable in our professions as well as financially. Too many people invest without being investors. E.g. making 401k contributions without knowing what they are being invested in. You need to protect your financial future by taking more control and becoming financially educated. You can build your own business and/or know what you are investing in.

  13. 5 out of 5

    Brian

    It was fine in the sense that I learned more about what I want to learn more about. It is not very detailed, not as detailed as I would like.

  14. 5 out of 5

    Quan Legend

    good book learned alot

  15. 4 out of 5

    Chas Tomac

    Basic investing concepts well covered for the beginner

  16. 4 out of 5

    Joshua Baird

    This book would have been terrifying had I read it prior to the crash of 07 , In retrospect it is definitely something we can all learn some

  17. 5 out of 5

    Yasir Khan

    Good book but too much repetitive stuff.

  18. 5 out of 5

    Tina Wavelet

    Educational, motivational, predictive. Kiyosaki often repeats the same phrases. The book promotes financial courses offered by his company. I like the depiction of the current economic situation in the US and criticism of the retirement mutual funds. And also an observation that economic schools produce financially uneducated, resp. unprepared to reality, graduates, and that the need for constant financial education is more than acute. Given the mentioned prophecy, the book will be outdated in 2 Educational, motivational, predictive. Kiyosaki often repeats the same phrases. The book promotes financial courses offered by his company. I like the depiction of the current economic situation in the US and criticism of the retirement mutual funds. And also an observation that economic schools produce financially uneducated, resp. unprepared to reality, graduates, and that the need for constant financial education is more than acute. Given the mentioned prophecy, the book will be outdated in 2 years. The book could be shorter by removing repetitive sentences, some questionnaires and repetitive financial tables. I kind of resent the typical bombastic-motivational style, which seems that simple American population still consumes. The teacher advises how to find a good accountant: need to ask him how much is 1 + 1 and if s/he can answer "how much do you want it to be" then you found a good accountant. But wasn’t this “how much do you want it to be” a method of Enron’s financial statements and other on-dubious-accounting-based bankrupt companies? So what does he exactly mean? He also does not explain what he will do when his tenants stop paying him rent and the price of real estate will go down during the crash. How will he repay the mortgage? He will hardly sell property with profit because of no demand. He writes that the crash will be caused by post-war generation, who will go to retirement in two years and will start selling their retirement mutual funds, which will not be bought by anyone as there will be more elderly sellers than young buyers. He does not mention, however, that loans from banks, mortgages, thus debts in which he participates as well, are part of recurring of market crashes. ------------- Edukačné, motivačné, predvídavé. Kiyosaki často opakuje tie isté frázy. V knihe značne propaguje finančné kurzy, ktoré ponúka jeho firma. Páči sa mi vykreslenie súčasnej ekonomickej situácie v USA a kritika penzijných podielových fondov. A tiež postreh, že z ekonomických škôl vychádzajú finančne nevzdelaní, resp. nepripravení do reality, absolventi, a potreba sústavne sa finančne vzdelávať je viac než akútna. Vzhľadom na spomínané proroctvo, kniha bude po záruke o 2 roky. Kniha mohla byť stručnejšia o opakujúce sa vety, niektoré dotazníky a rovnakých tabuliek či skôr načrtnutých štvorcov akože finančných výkazov. Trochu mi vadí ten typický bombasticko-motivačný štýl, ktorého sa zrejme jednoduchá americká populácia ešte nenasýtila. Pán učiteľ radí, ako nájsť dobrého účtovníka: treba sa ho opýtať, koľko je 1+1 a ak ti dá odpoveď "koľko chceš aby to bolo" je to dobrý účtovník. No nerobili si takéto "koľko chceš aby to bolo" finančné výkazy aj Enron a iné na-pochybnom-účtovníctve-postavené skrachované firmy? Ako to teda presne myslel? Tiež nevysvetľuje, čo spraví, ak mu po krachu ľudia prestanú platiť nájom a ceny jeho nehnuteľností pôjdu dolu. Ako splatí banke tie hypotéky? Nehnuteľnosť nepredá ziskovo, lebo vtedy nebude dopyt. Píše, že krach spôsobí povojnová generácia, ktorá pôjde o 2 roky do dôchodku a začne predávať svoje penzijné podielové fondy, ktoré ale nebude mať kto kupovať, keďže predávajúcich dôchodcov bude viac ako mladých kupujúcich. Nespomína však, že aj pôžičky z banky, hypotéky, čiže dlhy, na ktorých sa on sám podieľa sú súčasťou opakujúcich sa krachov trhov.

  19. 4 out of 5

    Ice

    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 r 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.

  20. 5 out of 5

    Torki

    This review has been hidden because it contains spoilers. To view it, click here. One of the most audio-book I enjoy listening to it for the last 11 days . I'd love to share the last paragraph with you it's goes like this: "Rich dad often used the saying “The darkest hour is the hour just before dawn.” That was his way of reminding us to continue to improve our skills, to keep our faith strong, especially in the darkest of hours, and have the courage to step forward while others are running backward. You have the opportunity to take control of your financial life. By building One of the most audio-book I enjoy listening to it for the last 11 days . I'd love to share the last paragraph with you it's goes like this: "Rich dad often used the saying “The darkest hour is the hour just before dawn.” That was his way of reminding us to continue to improve our skills, to keep our faith strong, especially in the darkest of hours, and have the courage to step forward while others are running backward. You have the opportunity to take control of your financial life. By building your own ark full of assets that work for you, you can prepare yourself to prosper no matter how the stock market performs. In closing, I leave you with this quotation from Warren Buffett, America’s richest and most successful investor, who says that he likes to buy stocks when “the bears are giving them away.” that book worth reading ..

  21. 4 out of 5

    Joe Abraham

    A HUGE reality check regarding the future of the American economy. But it is written in a very engaging and interesting way. Of the three others on my list this one is the most of a "how-to" book... Robert talks about the current landscape of the stock market and mutual funds, and follows it logically through to what is looking like a "perfect storm" happening... especially to eveyone with lots of mutual funds who think their money is safe. This is yet another MUST READ for anyone at all concern A HUGE reality check regarding the future of the American economy. But it is written in a very engaging and interesting way. Of the three others on my list this one is the most of a "how-to" book... Robert talks about the current landscape of the stock market and mutual funds, and follows it logically through to what is looking like a "perfect storm" happening... especially to eveyone with lots of mutual funds who think their money is safe. This is yet another MUST READ for anyone at all concerned with their financial future and not leaving it all up to chance and a financial planner. Remember, nobody cares more about your money than you do. So it only makes sense that you be the one who makes decisions about it.

  22. 4 out of 5

    Stephan Paukner

    Written in 2002, it predicts a massive crash for 2016. Still an interesting read, though, although of course it doesn't incorporate the intermediate retracement of 2008 which might have bought us some time. In short, Kiyosaki expects a crash to occur because millions of baby boomers in the U.S. start to retire at that time, with lots of capital invested into pension funds without ever having learned to think like investors, leading them to a heavy sell off during the next recession. It isn't qui Written in 2002, it predicts a massive crash for 2016. Still an interesting read, though, although of course it doesn't incorporate the intermediate retracement of 2008 which might have bought us some time. In short, Kiyosaki expects a crash to occur because millions of baby boomers in the U.S. start to retire at that time, with lots of capital invested into pension funds without ever having learned to think like investors, leading them to a heavy sell off during the next recession. It isn't quite clear to me, though, how they could have that much influence. A worthful read is about how to learn to actually think like an investor, and Kiyosaki recommends to learn to invest into real estate to prosper during the big bust.

  23. 4 out of 5

    Michael

    I finished reading this in early 2009. It was published in 2002 and I wish I had read it at least a year ago...before the crash of 2008 wiped out so much of our retirement funds. I found it to be educational but an easy read (unlike many "dry" financial books). It contains a lot of common-sense background and advice. As a leading-edge baby boomer, it has awakened me to some new realities. I hope (and urge) my adult-age kids to read it and learn, as they will be bearing the burden of the politici I finished reading this in early 2009. It was published in 2002 and I wish I had read it at least a year ago...before the crash of 2008 wiped out so much of our retirement funds. I found it to be educational but an easy read (unlike many "dry" financial books). It contains a lot of common-sense background and advice. As a leading-edge baby boomer, it has awakened me to some new realities. I hope (and urge) my adult-age kids to read it and learn, as they will be bearing the burden of the politician's mistakes in the years to come. By all means, read and learn. There is a lot to be learned from this seven-year old book!

  24. 4 out of 5

    Lou

    I read Kiyosaki because his books are encouraging. They give a sense of hope and the realization that it's okay to try to get things done. This book was written several years ago and I only just now picked it up to find that much of what he "prophesied" has come about or is about to come about. The basis for the predictions is solid and sensible. I have to recommend it. The practices and beliefs are probably not for everyone but the inspirational nature of it is very much appropriate for those who I read Kiyosaki because his books are encouraging. They give a sense of hope and the realization that it's okay to try to get things done. This book was written several years ago and I only just now picked it up to find that much of what he "prophesied" has come about or is about to come about. The basis for the predictions is solid and sensible. I have to recommend it. The practices and beliefs are probably not for everyone but the inspirational nature of it is very much appropriate for those who are looking for something out there. --Wag--

  25. 4 out of 5

    David

    Want to be financially free. Invest in your education on the matter as well as in ventures and assets that bring in passive income. Don't be afraid to start small and even still play the game and love it because if you wait around saving your money waiting for a slight interest rate to make you rich you will die unwealthy like Roberts Poor Dad. Invest invest invest. Thats what I learned in a nut shell. . . and yeah you only have about 8 more years until 2016 when it will all hit the fan so start Want to be financially free. Invest in your education on the matter as well as in ventures and assets that bring in passive income. Don't be afraid to start small and even still play the game and love it because if you wait around saving your money waiting for a slight interest rate to make you rich you will die unwealthy like Roberts Poor Dad. Invest invest invest. Thats what I learned in a nut shell. . . and yeah you only have about 8 more years until 2016 when it will all hit the fan so start now!!

  26. 4 out of 5

    Cindy

    One of the most brilliant books ever written! The title scares people away, but this book will change the way you see investing, and when I say investing, I mean more than just playing with money, I mean really planning for life, from day to day to long term. This book talks about how to spot cycles in the market, any market, and how to use it to your advantage. It is one of the best tools in the series of book on learingin a comprehensive financial education!

  27. 5 out of 5

    Lane Dockstader

    Foretells a stock market crash to come. (published in 2002) I read this in 2002, and was one of the reasons I decided not to continue to work as a Stock Broker. Somewhat timely, at the time, but no one knows exactly when an economic downturn will come. Also, was one of the things that helped me to realize there are always financial cycles, up and down, up and down. Also alludes to the cycle of the Baby Boomers, and how the market will drop and be greatly affected as Baby Boomers retire.

  28. 4 out of 5

    Anton Klink

    I read a lot of Kiyosaky "Rich Dad" books some ten years ago so I am no longer able to distinguish between all of them. However, since I was already practising the principles preached his books, I found them to be true and quite agreed with them. My rating is based on my recollection that all of his books gave the reader no-nonsense high quality money and assets management advice and as such, I'd recommend them to anyone interested in the subject.

  29. 4 out of 5

    Waseem

    no matter what people say about this guy, this book was eye opening, and more important correct seeing what happened to the financial markets and the crash / recessions since 2007...this is why am a big fan of his work and feel its too important to ignore...even if it can be a lil repetitive...but repetition is the mother of all skill...especially when it comes to important aspects of your life and financial security... 5 stars and a fav! Waseem Mirza http://www.WaseemMirza.net no matter what people say about this guy, this book was eye opening, and more important correct seeing what happened to the financial markets and the crash / recessions since 2007...this is why am a big fan of his work and feel its too important to ignore...even if it can be a lil repetitive...but repetition is the mother of all skill...especially when it comes to important aspects of your life and financial security... 5 stars and a fav! Waseem Mirza http://www.WaseemMirza.net

  30. 5 out of 5

    Jacob

    I enjoyed this book. Only about 1/3 of it was the author explaining the actual prophecy itself and the other 2/3 was him explaining how we can prepare for the event. It is among his best work. I have never heard a more strong plea for people to take control over their own finances and to do better book-keeping.

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