Customer Reviews
This book predicted 2008 Credit Crunch 5 years ago - By: mahoneko, 12 Oct 2008 
I read the first two booksin the Rich Dad Series & they were great, but thereafter they did start to get repetitive. However I also read this one & realised it makes a lot of sense,in the last 5 years I avoided puttingin money into US & European shares as well as taking other action based on this book. Because I did this, I have been probably 80% shielded from the recent massive downturn & I have to thank Kiyosaki for that. Excellent!
A book ahead of its time - By: Mr. M. T. Davies, 08 Apr 2006 As with all the rich dad poor dad series, Robert tries to drive home the message that you cannot rely on employers & governments to look after you, & instead encourages the reader to investin property & learn to run his/her own business.
The Prophecy however goes a step further & tells us of the impending pensions crisis & stockmarket crash that may come at around 2016, & how knowledge can help you to avoid the concequences.
An interesting & easy to understand book that should prompt thoughtin the reader at worst, & at best should change their assumptions of the world
Beware 2016! -- Good Financial Education for New Investors - By: Donald Mitchell, 14 Jun 2004 
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Before commenting on the book's message & argument, let me discuss its communications style. There is a great on-going debate about whether the details that Mr. Kiyosaki presents about himself & his "Rich" & his "Poor" (and biological) Dad are literally true. I don't know, & 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 itselfin these comments.
If you've read some of the Rich Dad, Poor Dad books before, the main new informationin 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 & market volatility, you face the ticking time bomb of a growing number of U. S. investors being legally required to liquidate their holdings beginning at age 70 1/2. As the Baby Boom generation turns 70 1/2 beginningin 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 collapsein 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 believein 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 poorerin cash flow while you save for retirement investing & poorer when you cash out of the investment after you pay the taxes on what you take backin what could be smaller values. Imagine if you had had to start withdrawing from your pension fundin 1929. That's one nice illustration that I enjoyedin 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 & investments (such as rental properties) after you achieve your financial education (which you didn't learnin school, even if you got a business degree from most schools). You are encouraged to start small & develop various kinds of control over your emotions, advisors & actions. It's all sound advice. My only complaint is that people who are going to start making real estate investments & 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 storyin small doses.
The surprise for a lot of peoplein 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 & begin to apply these lessons, I suggest that you think about wherein your life the conventional wisdom led you down the wrong path. Where else could that be happening to you now?
Beware 2016! -- Good Financial Education for New Investors - By: Donald Mitchell, 03 Apr 2004 Before commenting on the book's message & argument, let me discuss its communications style. There is a great on-going debate about whether the details that Mr. Kiyosaki presents about himself & his "Rich" & his "Poor" (and biological) Dad are literally true. I don't know, & 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 itselfin these comments.
If you've read some of the Rich Dad, Poor Dad books before, the main new informationin 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 & market volatility, you face the ticking time bomb of a growing number of U. S. investors being legally required to liquidate their holdings beginning at age 70 1/2. As the Baby Boom generation turns 70 1/2 beginningin 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 collapsein 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 believein 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 poorerin cash flow while you save for retirement investing & poorer when you cash out of the investment after you pay the taxes on what you take backin what could be smaller values. Imagine if you had had to start withdrawing from your pension fundin 1929. That's one nice illustration that I enjoyedin 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 & investments (such as rental properties) after you achieve your financial education (which you didn't learnin school, even if you got a business degree from most schools). You are encouraged to start small & develop various kinds of control over your emotions, advisors & actions. It's all sound advice. My only complaint is that people who are going to start making real estate investments & 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 storyin small doses.
The surprise for a lot of peoplein 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 & begin to apply these lessons, I suggest that you think about wherein your life the conventional wisdom led you down the wrong path. Where else could that be happening to you now?
Employed or Self Employed? - Financial Future SHOCKER! - By: , 26 Aug 2003 This book has made me sit up & think! I'm shocked!
Millions of people depend on their plans for retirement income.
Yet, when programmes first became popular over two decades ago, Robert Kyosaki's rich dad WARNED that these plans would cause one of the BIGGEST stock market crashesin history... a crash that would financially destroy the unprepared. Now rich dad's prophecy is coming true.
* How the fears, dreams, & actions of millions of 'baby boomers' will control the economic future...
I understood from the book that although we had the NASDAQ exchange record its biggest ever one-day fall, backin April, 2000, - the worst is still yet to come!
Read it NOW, or you'll regret it!
