By Robert T. Kiyosaki
I will make this a needs to learn for all my family and neighbors. it is a genuine eye opener!
Read or Download 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! PDF
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Extra resources for 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!
There always have been booms and busts in the past and there will always be booms and busts in the future. Predicting that booms and busts are coming is not much of a prediction. You boys are in your early thirties. You have a good ﬁnancial foundation and you’re gaining great business experience. You are now old enough to face the real world. Just as you practice surﬁng nearly every day, riding the ups and downs of the waves, I ask you to practice riding the ups and downs of ﬁnancial markets and ﬁnancial cycles.
As you already know, most of your workers cannot read a ﬁnancial statement. ” asked rich dad. “The resulting impact started by ERISA is not only leaving millions of people without a retirement plan, it is also forcing people to trust their ﬁnancial future to the stock market . . ” Rich dad looked directly at me. “I’ve been training you and Mike to be investors . . investors who can make money in an up market and in a down market. But most employees do not have that mental and emotional training .
Subsequent changes to ERISA may allow companies to switch to DC, or deﬁned contribution, plans. The difference between a DB and DC plan is found in the difference between the deﬁnitions of the words beneﬁt and contribution. A DB plan deﬁnes the beneﬁt whereas a DC plan is deﬁned by the contribution. In other words, a worker’s retirement is only as good as the contribution . . if there is a contribution. A worker might retire with nothing because he or she contributed nothing. In addition, if a worker retired with $2 million in their plan and that $2 million was gone by age eighty-ﬁve either through distribution or by mismanagement or market crash, then at eighty-ﬁve this worker was out of retirement funds and out of luck.
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! by Robert T. Kiyosaki