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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!

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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Product Info Reviews

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Rating: 3 stars
Summary: The Great Riddler
Review: I've read most of the books in the "Rich Dad" series, this one presenting a rather disturbing view of the future. However, I call Mr. Kiyosaki "the Great Riddler", because he tends to give vague answers instead of concrete, solid advice in financial planning. And it seems like we keep having to buy more of his products in order to "learn the next step". This book is no exception. While very informative, Mr. Kiyosaki is more of a motivational writer than he is a financial advisor. He tells a story of how he wants to be a billionaire one day; apparently his strategy is to use our money by providing us with his autobiography with some financial information thrown in for good measure. It also seems like Mr. Kiyosaki's financial advise goes against conventional wisdom, but again, he remains relatively elusive on how to truly use some of his advice.I learned more from Sharon Lechter's opinions, which is somewhat sparse throughout the book. And the future? Something tells me it won't be as bad as Mr. Kiyosaki claims, although the worst case scenario is certainly spelled out here (but be assured the money spent for the book is likely aiding Mr. Kiyosaki's billionaire quest).

Rating: 5 stars
Summary: Must reading for all serious investors
Review: If you are a serious investor. A baby boomer hoing you can retire in the next decade, then you must read this book by Kiyosaki.I also recommend Rich Dad's Guide to investing and Retire Yound, Retire Rich.And please ignore the 1 star reviewers with an aggenda.As a greater power than me once said; "Forgive them for they know not what they do."

Rating: 4 stars
Summary: Beware 2016! -- Good Financial Education for the Uninformed
Review: Before commenting on the book's message and argument, let me discuss its communications style. There is a great on-going debate about whether the details that Mr. Kiyosaki presents about himself and his "Rich" and his "Poor" (and biological) Dad are literally true. I don't know, and I don't intend to try to find out. For my purposes, I treat the communications style of this book as a fable to help teach a lesson. I do evaluate the accuracy of the lesson itself in these comments.

If you've read some of the Rich Dad, Poor Dad books before, the main new information in this book is an explanation of why stock market investing with pension money is a dangerous way to grow your "wealth." In addition to being at risk from con men, thieves, incompetents, brokerage houses and market volatility, you face the ticking time bomb of a growing number of investors being legally required to liquidate their holdings beginning at age 70 1/2. As the Baby Boom generation turns 70 1/2 beginning in 2016, the selling moves from being a trickle into being a torrent that overwhelms new funds into the market at some point . . . followed by an inevitable collapse in stock values. If you want a more detailed, confirming discussion of this issue, the book, What If Boomers Can't Retire?, is a good choice. Harry S. Dent, Jr.'s demographic books also look at this issue.

If you already believe in the messages of the earlier books, you could skip this one . . . especially if you have already decided to avoid or minimize stock-market investments.

If you have read none of the Rich Dad, Poor Dad series, I suggest that you start with Rich Dad, Poor Dad before tackling this one. You'll understand this book better if you do.

The other problem with traditional defined contribution pension investing (usually by 401-k plans), of course, is that a pension fund contribution takes lots of cash out of your pocket (unless the employer matching is very generous -- way more than 2:1) to put some money into the retirement account. So you face the possibility of being much poorer in cash flow while you save for retirement investing and poorer when you cash out of the investment after you pay the taxes on what you take back in what could be smaller values. Imagine if you had had to start withdrawing from your pension fund in 1929. That's one nice illustration that I enjoyed in the book. Possibly, the same could occur after 2016. Who knows?

The second half of the book advises you on how to build a financial ark against hard times by relying on building cash-generating businesses and investments (such as rental properties) after you achieve your financial education (which you didn't learn in school, even if you got a business degree from most schools). You are encouraged to start small and develop various kinds of control over your emotions, advisors and actions. It's all sound advice. My only complaint is that people who are going to start making real estate investments and building cash-generating businesses need a lot more information than is here. I graded the book down one star, accordingly.

The first half of the book could have been shortened up quite a bit, but for those who are unaware of the demographic time bomb's potential effect on their investments, it may help to get the story in small doses.

The surprise for a lot of people in this book is going to be that what they hear every day from best-selling "authorities" about the "right rules" of retirement investing could easily turn out to be wrong for them.

After you absorb and begin to apply these lessons, I suggest that you think about where in your life the conventional wisdom led you down the wrong path. Where else could that be happening to you now?

Donald Mitchell, co-author of The 2,000 Percent Solution, The Irresistible Growth Enterprise and The Ultimate Competitive Advantage

Rating: 4 stars
Summary: Great Insight
Review: This is a outstanding book. This book is about changing your state of mind rather than a step by step way of how to make money. I believe many of the people who write negatively of the RDPD series are those that are to fearful to take on much risk. I found this book to be enlightening and got a couple of ideas that I plan to implement shortly.

This was actually my first reading of a RDPD book and sort of threw me for a loop because it contridicts most everything us "smart investors" thought was right and followed religiously. But the way he explains everything it makes sense and make you open your mind. You may not want to follow his advice but it is good to know.

My only complaint was that the book could've been condensed to about half it size. There is a lot of repition, but maybe this was intentional. In a nutshell, the book basically states that some time after 2010 the stock market is going to crash because all the baby boomer will be taken money out of their IRAs and such.

Rating: 2 stars
Summary: Strong introduction , then a lot of Advertising .......
Review: This book could be summarized in five pages max . Although ,the beginning is captivating , the remainder is a clear advertising for the remaining books of the series . However , this was good marketing because i am planning to buy Rich Dad poor Dad which talks about an introduction to accounting ; although from a non conventional approach .

Rating: 1 stars
Summary: Maybe you will learn about laws of the sea, but not finances
Review: Hmmmm..... I didn't like this book. Even though I am a rich dad series fan and I really like Kiyosaki's other works. This one was just not at the same level. It had a fantastic start which really got me excited to find out how to build my ark. But unfortunately the book got too boring and off track by talking too much about the details of shipping (yes, the actual shipping, shipping laws, and anything related to ocean, sea, moby dick, boats, ..... you get the point). + alot of infomercial of his other products (v. v. v. bad advertising method - boooooo). In general it was just a bad disappointing book. I am glad that I checked it of the library rather than buying it.

Rating: 5 stars
Summary: startling confirmation
Review: This book is just what I thought it would be. I'm reading it now, as I have learned to check books out from the library first.
I will be buying this book soon and adding it unto my collection.

A definite recommend!

Rating: 5 stars
Summary: Start building your ARK!
Review: Many have called this man one helluva salesman. And you know what? They're right! He's not a best writing author, he's a bestselling author.

If you want to be rich, are you gonna listen to a millionaire or your next door neighbor?

Anyway, this book could possibly save your life. Yes, it doesn't tell you what exactly to do. Why should it? We are all different. But if you knew what was coming down around the bend, and it isn't pretty, maybe it will wake you up to the fact, that the only thing that can save you is yourself. Use this book as a platform for learning the tools needed to protect you and yours, literally.

If I reach the goal of wealth that I have set for myself. And I ever meet this man, Robert Kiyosaki, I will give him a firm handshake, big hug, and beg him to join me for a very expensive dinner, because he literally had saved my life.

Rating: 2 stars
Summary: POOR
Review: If you are looking for concrete investment advice don't buy this book BUT if you are wondering why something seems to get wrong with the way you handle your own finance and why you don't get rich, this book might be useful to read. I guess.

In my view Kiyosaki adress head on the emotional (and discipline) problem of accepting to take charge of your own (financial) future. It's also onteresting for those who start wondering about retirement in 2003 and are ready to be desillusioned about making it without financial literacy.

The two criticisms which I will make to this book (and to all Kiyosaki's book) are:
1) that it is a bit repetitive. There is new idea in each chapters but always meddle inside a flow of other ideas already explained in a previous chapter which confuse a bit is expression and, to my opinion, his message.
2)that the rich dad poor dad metaphore although expressive is a bit pathetic. At the human level what too think of someone who always speak of his real father as "poor dad" and of his father best friend as "rich dad"? There is a lack of vulnerability here that I find bizarre, especially from someone who specifically adress the emotional side of what it takes to become a real investor and business owners.

Rating: 3 stars
Summary: Informative, but perhaps not entirely truthful
Review: Jeez, can't a person just buy a book and not have there be a conspiracy involved? I've read Rich Dad, Poor Dad by Robert Kiyosaki and thought the book was great. The book urged me to look at my own financial house and to get it in order, as well as having a common sense plan when I do invest in an opportunity. The most important thing though was the reminder that if you want to do well in anything you have to keep the right thoughts in your head.
Now I'm a 1/3 of the way through Prophecies. Mr. Kiyosaki's take on the way pensions are done in this country is a real eye opener for me. Looking forward to finishing the book as the presentation on his information is an easy style for me to read.
Then I read the lengthy web page by his harshest critic, John T. Reed, which spells out some interesting information. It could be possible that Robert Kiyosaki is not being truthful on many parts of his books. From is there really a 'Rich Dad', to his military service. However does he impart good financial information? Since I am a novice all I can do is take those things that sound good to me and make the choice to implement them.
Yes, read his financial opinions but perhaps use caution in believing the whole book.


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