Leglessbird Reading guide

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! (buy from Amazon) by Sharon L. Lechter
Type: Business
Author: Robert T. Kiyosaki, Sharon L. Lechter
My rating: 4

Book introduction:
The full title of this book is Rich Dad's Prophecy, why the biggest stock market crash in history is still coming...
It talks about how people in our generation (gen x) is going bear the retirement cost of the Babyboomer generation because they were promised a "Defined Benefit" retirement scheme and we are given a very different scheme called "Defined contribution" and the cost is dear. How major corporations are suffering since 2000 onwards. Why most people are not prepared for this change and will not have sufficient fund to retire. In turns, they are going to make terrible mistakes in investment and will trigger a panic reaction sometime in the future and cause a major market crash.

My review:
Very revealing indeed. Predicting an inevitable trend that will hit us all very hard especially us the kids of babyboomer generation. It is terrifying that most people will not be able to survive in their retirement years and not realising it today so they can better prepared. The "Defined benefit" Vs "Defined contribution" analysis is most interesting, esp. after reading an article on how Ford the automobile manufacturer suffered a downgrade in credit rating because it's "defined benefit" pension fund for its enormous body of retired workers is severly under funded and that they must injected hundreds of millions of cash from its future profit to plug the hole and Ford is definitely not alone.

If you really want to get yourself prepared and sheild yourself from the big shock that is going to hit us, read this book and selectively adopt the advices in this book that are most suitable to you.