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!

3.3 11
by Robert T. Kiyosaki, Sharon L. Lechter

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I think the 401(k) is a real scam," Edward N. Wolff, a New York University economist, wrote in the May 26, 2002, business section of The New York Times. Mr. Wolff, a recognized expert in wealth and income, was concerned with the deteriorating savings of millions of workers, caused by their 401(k) retirement plans.

Robert Kiyosaki's rich dad saw the 401(k)

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I think the 401(k) is a real scam," Edward N. Wolff, a New York University economist, wrote in the May 26, 2002, business section of The New York Times. Mr. Wolff, a recognized expert in wealth and income, was concerned with the deteriorating savings of millions of workers, caused by their 401(k) retirement plans.

Robert Kiyosaki's rich dad saw the 401(k) as more than a scam. His prophecy was that these new retirement programs, created in the U.S. in 1974 and adopted in various forms by many other countries, would cause one of the biggest stock market crashes in history...a crash that is still coming...a crash that will wipe out the retirement savings of millions of employees, leaving them dependent upon their families or the government in their later years. Rich dad often said, "Never in the history of the world have so many people bet their future financial security on the ups and downs of the stock market."

Rich Dad's Prophecy will show you how this obscure 1974 law will affect all of us, regardless of our age or where we live, sometime in the near future. 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. Learn:

  • How the fears, dreams, and actions of millions of baby boomers will control the economic future
  • Why the old advice "Buy, hold, and diversify" can lead to financial disaster
  • How another stock market boom is on the horizon before 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-discover rich dad's favorite investments, including tax-free funds that earn over 7 percent and more.

  • About the Authors

    Robert Kiyosaki a financier, author and teacher says "that the main reason people struggle financially is because they have spent years in school but learned nothing about money. The result is that people learn to work for money...but never learn to have money work for them.

    Sharon L. Lechter, C.P.A. and mother says "I love my children and want to ensure they get the best education possible! Traditional schooling, while very important is no longer enough. We all need to understand money and how it works."

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Editorial Reviews

Publishers Weekly
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. (Oct.) Copyright 2003 Cahners Business Information.
Library Journal
This time, superhot financial writer Kiyosaki directs his advice to baby boomers, who are now facing retirement. Copyright 2002 Cahners Business Information.

Product Details

Grand Central Publishing
Publication date:
Rich Dad's Series
Edition description:
Product dimensions:
6.00(w) x 9.00(h) x 0.87(d)

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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! 3.3 out of 5 based on 0 ratings. 11 reviews.
Guest More than 1 year ago
Enjoyed this timely warning. It opened my eyes to what was possible if Baby Booming children don't actually solve our parent's financial problems as a country. Also, this book does what it says it will do--warn of and teach how to avoid pitfalls of previous generations.
Anonymous More than 1 year ago
Anonymous More than 1 year ago
Paul_Swanson More than 1 year ago
I am a recent discoverer of the Rick Dad series. I read the first book several years ago and I was not convinced that the ideas were accurate or even held any useful wisdom. About a year ago I ran into a person who was using the program. He started explaining things in terms I remembered seeing in the first book I had read and rejected so long ago. When I asked if this book series was his source he confessed and then I found out he was ready to leave the company we both worked at due to his passive income surpassing his salary. That, plus being laid off convinced me to dig into the Rich Dad program and try to get a part of the American Dream for myself. This CD was so convincing that I let my wife listen to it while she is starting her own business and she is now reading and listening to the series and changing her start up process to adjust to the many tips and insights found in just this one CD, let alone the many others. Her business will be far ahead from the ideas she found useful in this CD. Some how in the future we both will be more successful from the info the Rich Dad series has exposed us to, particularly that our house is not an asset to me, but to the bank. That revelation is a center which all of us who were programmed to believe utherwise must come to grips with. As I restart my attempt to be a writer as a business I now know that I need to incorporate with a LLC, I need to protect my assets, I need to get my team in place to support my success, and so much more. This CD was a starting point in a new beginning for myself and my family. I would call it no less than a wake up call for all Americans who want the American Dream and don't want to figure out the path to finding it on their own. Highly recommended. This, combined with Donald Trumph's Think Big and Kick Ass CD have changed my whole perception of the recent economic reality I find myself in. Paul Swanson
Guest More than 1 year ago
With a mind toward doing more than just letting my 401(k) earn enough for my retirement, I was looking for something better. I happened to see this book on a bargain shelf and picked it up because I had heard of the 'Rich Dad' series. The book is very inspirational and is thought-provoking. It gives one the impression that any person who is willing to invest time in his or her financial education may reach financial independence. For that, I am happy to have found the book. However, I did find it to be a bit repetitive in describing Robert's admonishments from 'Rich Dad' and Warren Buffet. What I did find compelling was the manner in which he explained the coming 'crash' and why it is likely to happen. He explained it in a commensense manner without any histrionics. As another reviewer mentioned, this could have been done with 1/3 of the pages used and then he could have devoted more space to practical solutions. I surmise, however, that selling another book was more important than imparting much information. I am beginning to see how to make real money: Write one popular book and then reprise it several times! Though I enjoyed this book, I will not read 'Rich Dad, Poor Dad' because he references much of that book in this one. My suggestion is to buy this book for inspiration and then move on to more practical information to educate yourself. See, now that is an example of a real 'how to' on investing your time!
Guest More than 1 year ago
I found this book to be fascinating. DB and DC: who knew two letters could make such a big difference. I have read the other reviews of this book I tend to disagree with some of it. To Mr. Kiyosaki credit he estimates that it will be the year 2016 and says that repeatedly in the book. Nothing is written in stone concerning that date. Even with all that being said, one has to realize that there are a myriad of things that affect the retirement of millions of baby-boomers, which include the laws (ERISA and COBRA) as well as the Fed and their monetary supply policy. Futhermore, Mr Kiyosaki's books where never meant to be a step-by-step manual, rather an introduction to the perspective on the way the rich view things. If someone wants an nuts-and-bolts approach, go to an investment seminar and learn from the pros. Anyways, I enjoyed the book and all the reasons he gives for the impending crash. Finally, there is a book that supports his theory and it's called the Coming Storm. Great book and be sure to watch out for the cynics.
Guest More than 1 year ago
The theory of a crash because of the boomers is interesting and possible, the story line on how to succeed in 'life' is worthwhile especailly to the 95% who work for 'someone'. As a real estate broker his methods for obtaining wealth thru it are right on and secure especially for the long term and will weather stock market crashes - people need food/clothing/shelter and if you don't own a grocery store owning a place to live would be a good investment. The problem with the read is that he is very repetitive and tries to sell you on other products of his - which gets old quickly! Could have shaved 1/3 of the book if these self-promotional items were not in it.
Guest More than 1 year ago
This book has absolutely no practical value. It offers broad generalizations and speculations about the future. It is also blatantly advertises the pompous authors other books and courses.
Guest More than 1 year ago
The title and book itself seem to be accurate, and likely, but this is something that should have been released a few years ago. Although still timely, the public could have used this information in early 2000. There is a number of people, including myself that already made this prediction at that time. The truth is that this title would not have sold as well back then because the mind set of the public was that the market would continue to go up forever. The information in this book is priceless, and should be adhered to by anyone that is concerned about the stock market, and/or their financial future. It is truly a pleasure to see that someone has the guts to expose the truth about the financial world, and markets. All things considered, this title deserves a rating of four stars.
Guest More than 1 year ago
Doomsday scenarios are a dime a dozen. There are so many books that have been written predicting stock market crashes that haven't occured. Here's another one to add to the collection. Does anyone honestly believe that you can actually forecast a stock market crash thirteen years from now? Trust me, there are so many things that could happen between now and then that it is just plain silly to make predictions like this. The other major flaw with this book is that it says that by buying rental properties or starting a small business you can avoid being hurt by the crash. This makes no sense. In a real crash, as opposed to a bear market, property values crash and small businesses go out of business. Use the crash of 1929 as an example. If the authors are correct about this upcoming crash, and the crash winds up being the biggest in history,like the authors say it will be, then the US (and probably most of the world) would enter a depression or very deep recession, and anyone investing in properties or running a small company would probably lose their shirt. Besides that, the authors give you no practical information on how to actually buy, finance and maintain rental properties.
Guest More than 1 year ago
I don't take issue with the prediction that there may be a big crash, just Rich Dad's reasoning for what may cause it. During the Great Depression of the 30's, the world basically accepted the conclusion of economist John Maynard Keynes that the boom/bust business cycle, as well as the Great Depression, was caused by irrational investors and overly thrifty consumers. This view stood for nearly 3 decades before Milton Friedman discovered that Federal Reserve Monetary policy was mostly to blame. Even though Keynes is on the decline, this book is just old Keynes in a new package. The premise is that the average Joe is too stupid to manage his own money because Uncle Sammy passed a law that foolishly gave him control over his destiny. The real culprit, if there is a big crash, will likely be the Federal Reserve and its manipulation of the money supply. Politicians use it to engage in spending they can't pay for (like military interventions overseas) and manipulate interest rates to create artificial booms that distort the true level of capital accumulation. Recessions and depressions are caused by malinvestment of capital. How can Joe Average be expected to make any rational investment decisions when Big Brother is constantly changing the rules of the game?