How Long Does It Take To Build A 30-Story Building Rich Dad’s Prophecy, by Robert Kiyosaki – Review

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Rich Dad’s Prophecy, by Robert Kiyosaki – Review

If you could know the future, would you invest differently?

Rich Dad’s Prophecy is a book by Robert Kiyosaki subtitled:

Why the Greatest Stock Market Crash in History Is Yet to Come…

And how you can prepare yourself and profit from it!

This book was written in 2002 (with Kiyosaki’s co-author and partner, Sharon Lechter, CPA). All the predictions made in this book are on track – if not ahead of schedule.

The primary “prediction” is that a major stock market rally is occurring in 2016. An estimated 2,282,887 “baby boomers” will turn 70 this year alone – and are required by law to make mandatory withdrawals from their 401(k) accounts. In 2017, the number of people aged 70 jumped by 700,000 to 2,928,818 and has been increasing every year since.

What does it mean? Since the creation of pre-tax retirement funds, Americans have been incentivized to invest/spend their savings in stocks and mutual funds. Markets go up when more people are buying than selling. 2016 is the year retirees are forced to withdraw from an astronomical bubble. It is specifically specified in the law that 401(k) accounts are created so that they become due and payable to the federal government after they begin at age 70.

Kiyosaki tells the story of his “Rich Dad’s Prophecy” based on “ERISA” (Employee Retirement Income Security Act of 1974.) What his “rich dad” foresaw the problems of passing control of retirement funds to individuals. These problems include:

1. Most people don’t save anything less than they need for retirement and medical expenses – which keep growing.

2. Those who created 401(k) accounts were forced to become “investors,” an activity previously reserved for wealthy (and educated) speculators. In the process, funds flooded the capital markets.

This is exactly what happened:

– Most people without corporate pensions – replaced by optional 401(k) plans – spend their money on material goods and save little or nothing (in fact, rack up record amounts of consumer debt).

– The minority of workers who built investment accounts (still numbering in the millions) injected billions into stocks and mutual funds. The stock market rose to record highs on cash flows.

Note: It is no coincidence that the passage of ERISA in 1974 bottomed the market, following a crash in 1973-1974 below the 600 Dow Jones Industrial Average. 1974 was the epicenter of the recession brought on by the “Nixon Shock” after the Middle East “oil embargo” and the removal of the dollar from the gold standard.

As Kiyosaki’s Rich Dad predicted, “Always watch for the law to change. Every time the law changes, the future changes.”

All this background sets the stage for the predicted crash in 2016. With more than 2 million retirees forced to sell stocks (and pay taxes on any gains) the market must contract – or crash!

Kiyosaki wrote this book that predicted the coming disaster in 2002. This was before the financial collapse of 2007-2008 (which continues to this day.) During this crash, the market lost 50% of its value from a high of 14,000. (It has since recovered 85% to 12,000.)

Americans continue to have pathetic savings rates. In addition, record unemployment due to the current recession has forced many to save and invest in their retirement accounts. The number of new wage earners will not offset the number of people retiring. After years of recession, fewer people are actually employed, earning less and investing less.

Combine theses problems and you have a market in irreversible decline. As millions of other workers see the value of their investments and retirement accounts dwindle, they too will start selling — trying to salvage what value is left even if they pay penalties.

The process continues, and the market is moving downwards at an accelerating pace! In the process, millions of retirement savings and investment accounts will be wiped out.

Bottom line: A 2016 crash forecast is probably optimistic! It can be early here as retirees can withdraw funds earlier – they’ll only delay withdrawals until age 70 if they don’t need the cash sooner!

Kiyosaki balances dire predictions with optimistic advice, especially how to build your “financial ark.” He writes, “Sometimes your greatest opportunities come in the greatest moments of crisis. And for those who position themselves well, it’s not about surviving disaster but about achieving financial freedom and wealth.”

He continues, “But it’s nothing to fear. Rich Dad’s predictions reveal not only the best ways to protect wealth but also how to actually reap prosperity from future events. The fears, dreams, and actions of baby boomers will shape our economic future. . You should consider building your own personal financial ark to stay afloat in the turbulent waters ahead. In Rich Dad’s Prophecy, you’ll discover how to prepare to thrive from impending financial disaster. It’s a must-read for those who want to stay afloat. And to come. will increase their wealth over the years.”

Rich Dad’s predictions will do more than educate you about the predicted stock market crash. You’ll learn how to build your own personal “financial ark” that will ensure you not only survive the storm, but profit from the impending turmoil. To learn more about the Rich Dad Prophecy – as well as Kiyosaki’s other books, resources and seminars – please visit the Rich Dad website at RichDad.com.

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