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!

Media:	Hardcover
Author:	Robert T. Kiyosaki, Sharon L. Lechter
Publisher:	Warner Business Books
Release date:	09 October, 2002
Our price:	$21.95

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!

Average rating: Stars

Some Good Info, Some Filler

If you did not know the stuff about EISRA, this book is worth the read. But that comes at the first part and then the rest of the info is less useful on a practical level.

Some people love this writer, some not so much. His other books are also hit and miss but I do agree with his point that we need a higher level of financial literacy in this country and the subject should be taught by the school system.

If you want to read a more succinct book about the effect of boomers on the stock market try, "The Great Bust Ahead."

Roque Curiel
Author of Money Well Spent

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! - Robert T. Kiyosaki, Sharon L. Lechter

Condescending, Redundant, Repetitive

Robert Kiyosaki's books are all the same thing re-packaged over and over again. This book could have been condensed into a couple of paragraphs and saved it's readers a lot of time. He writes in an arrogant, condescending manner that is hard to stomach. I would hate to have been his real dad. It's obvious that he despises him and worships at the alter of "Rich Dad." It's offensive and disturbing.
Read the first review of this book and you'll have the essence of the whole thing. Don't give this guy any more money for putting out this drivel.

Robert T. Kiyosaki, Sharon L. Lechter - 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!

Inspiring, but give the usual caution to this kind of book

I give Mr. Kiyosaki 4 stars because I enjoy the low-key pep rally style he has in all his books.

The book's fun reading, but I advise caution because:
1. As Mr. Kiyosaki says, what finacial quadrant you're in depends on your personality. Jawohl! I'll bet his rich dad was delighted that there were so many E-quadrant folks around during his lifetime who would work for low pay, so's to keep his many businesses afloat.

2. Predicting a big market down sometime between 2006 and 2017 is about as useful as breasts on a billy goat. Anyone could do the same thing and be correct. In fact, I'll put my own backside on the line more precisely and nail down that bad-market year as 2009 -- that's what I'm personally aiming for as the time to watch out for.

3. The book is a bit braggy -- the thought that you can make a big market hit with stock options most of the time (and in a short time) because you are a good student of calls and puts doesn't sound like anyone's actual experience that I know. It seems to me that trading real estate is at least as difficult.

4. Speaking of which -- if the stock market is supposed to tank, I do not understand why real estate couldn't do the same thing. And at the same time. OK, to be kind, Mr. Kiyosaki's experience of success is in the area of real estate, so why wouldn't he have confidence that this is THE ANSWER? I find this to be much like the majority (all?) of you-can-win-financially books.

5. Real estate! I never heard him talk about such mundane problems as tenants who don't pay, maintenance disputes, vandals, rediculous insurance rates, banks that pound on your door (OK, mailbox) for mortgages you can't meet because half your deadbeat tennants won't pay up, underoccupancy of the properties, bad guesses as to which properties will pay off. This don't sound like no picnic!

6. Last, I do not understand why the author says that equity investments do not return a regular income. Of course they do! These get reinvested automatically, not sent to your mailbox as a capital gains check.

In spite of all this transparent (to me) story of "here's how I did it, so you do it this way too" kind of book, why do I reconmmend reading it? I have always thought that if you get one good thing from a book, seminar, or performance, then it was worth the price; the age-70 funds withdrawal law for regular IRS's contained in ERISA, for example. That's sobering. And let us not forget, he was correct in a 1999 book about not keeping our $$$ in the market, because stock prices were too high at that time!

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