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It would be great if we could all retire with a nice portfolio of savings and pension income, without having to worry about paying the bills most retired people pay.

Yet...many retirees are living out their retirement on the breadline without much hope for even going on holiday without being assisted by relatives or even handouts. Don't let yourself be one of them...it's never too late!

Title : Rich Dad's Prophecy
Author : Sharon L. Lechter
Rating : 4 Stars out of 5.
Summary : Beware 2016! -- Good Financial Education for New Investors

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Before commenting on the book's message and argument, let me discuss its communications style. There is a great on-going debate about whether the details that Mr. Kiyosaki presents about himself and his "Rich" and his "Poor" (and biological) Dad are literally true. I don't know, and 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 itself in these comments.

If you've read some of the Rich Dad, Poor Dad books before, the main new information in 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 and 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 beginning in 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 collapse in 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 believe in 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 poorer in cash flow while you save for retirement investing and poorer when you cash out of the investment after you pay the taxes on what you take back in what could be smaller values. Imagine if you had had to start withdrawing from your pension fund in 1929. That's one nice illustration that I enjoyed in 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 and investments (such as rental properties) after you achieve your financial education (which you didn't learn in school, even if you got a business degree from most schools). You are encouraged to start small and develop various kinds of control over your emotions, advisors and actions. It's all sound advice. My only complaint is that people who are going to start making real estate investments and 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 story in small doses.

The surprise for a lot of people in 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 and begin to apply these lessons, I suggest that you think about where in your life the conventional wisdom led you down the wrong path. Where else could that be happening to you now?

Title : The New Golden Door to Retirement Living in Costa Rica
Author : Christopher Howard
Rating : 5 Stars out of 5.
Summary : "This Books is my Right Hand"

This book is my Right Hand, as manager of the Residents Association of Costa Rica (ARCR), I have found that newcomers sometimes seem to know more about Costa Rica than people living here just because they read this excellent book.

Title : Standard Poor's 401 (K Planning Guide)
Author : Alan J. Miller
Rating : 5 Stars out of 5.
Summary : A nice overview of how to handle your 401k plan

This book does a great job of handling the task of explaining 401k investment options, asset allocations, and 401k distributions. The sample asset allocations for different styles of investors are great examples. Unfortunately the book does not cover Roth IRAs as the book was published before Roths came out. Otherwise a great book.

Title : The 100 Best Investments for Your Retirement
Author : J.W Dicks
Rating : 2 Stars out of 5.
Summary : Good book, but out of date for picking mutual funds

This must have been a very helpful book when it was first published in 1996. It provides a good discussion of the financial issues one faces at retirement...income, risks, investment diversity. It also reviews good mutual fund bets for one retiring. Unfortunately the usefulness of the 1996 fund recommendations has diminished significantly. It's time for an update!

Title : Rich Dad's Retire Young, Retire Rich: How to Get Rich and Stay Rich Forever! (Rich Dad's Advisors Series)
Author : Robert T. Kiyosaki
Rating : 5 Stars out of 5.
Summary : Essential Look at How You Must Think and Act to Prosper!

This book deserves more than five stars for its exceptional clarity, authenticity, relevance and eloquence.

Those who love the Rich Dad, Poor Dad books will adore this one. I found it to be the best book in the series since Rich Dad, Poor Dad.

Mr. Robert T. Kiyosaki speaks with the authority of experience. He did retire young at 47 while his wife was 37. At that time, his expected annual income was between $80,000 and $125,000. Many people yearn for early retirement with wealth, mostly because they hate their work. Mr. Kiyosaki was soon back at work, establishing new businesses. Most of his wealth was created after he retired. "I keep working because there are so things that need to be done." So, he has clearly moved from earnings a living, to living a mission of self-expression. That's very wonderful, and I hope you will accomplish the same result!

Although the subtitle says this is "how to" book, it's really more of a "what to think" book. The fundamental concept is to leverage your mind, your plans, your actions, and your priorities to get wealth faster and more easily.

As usual, Rich Dad provides some wonderful quotes. Here are a few of my favorites.

"David could beat Goliath because David knew how to use the power of leverage."

"Cash flow is the most important word in the world of money. The second most important word is leverage."

"Leverage is the reason some people become rich and others do not become rich."

"Because leverage is power, some people use it, some abuse it, and others fear it."

"Getting rich begins with words and words are free."

" . . . do more and more with less and less."

The first books in the Rich Dad, Poor Dad series have been about cash flow. This one shifts over to leverage. Section 1 is about leveraging your mind, section 2 looks at leverage from a plan to retire, section 3 addresses leverage from actions. The book goes on to give you a final exam on your attitudes and a challenging thought to chew on to help get you focused properly: making lots of money with no money to start with.

Now, any book about leverage would normally have lots of pages on how debt leverage works. In fact, that is only a small part of what this book talks about. You will find that discussion in part of chapter 16, which looks at all of the forms of leverage in real estate.

One of the strengths of the book is a fine discussion of how to think about risk and reward. It's not how often you fail, but how big the costs of your failures are compared to the rewards of your successes . . . and your determination to keep trying until you succeed. For instance, 9 out of 10 new businesses fail. But the value of the 1 in 10 that succeed should vastly outweigh the costs of the 9 failures.

The book is excellent in warning you against the risks that you are unconsciously taking. Most people have 100% of their financial futures tied up in government pension and Medicare payments and the stock market. Mr. Kiyosaki correctly points out that this assumption is probably faulty, because there are far more Baby Boomers depending on these two resources than there are resources. One part of the leverage concept is to have more streams of cash flow. He also has excellent ideas on how to reduce risk in your current and potential sources of cash flow.

You are also given a list of good habits to pursue. And top tips from the prior books are repeated in a convenient section near the end of the book.

If you follow the advice in this book, it will be worth more to you and your family than all the other investment and retirement books that you read combined. But you have to take action! Thinking about taking action won't get you there.

I would describe this book as being a lot like Tony Robbins's book, Personal Power, except it is focused effectively on the emotional and mental disciples needed for financial security and investing.

By the way, I have known many people who have retired young with the assistance of being rich. They all embody the principles captured in this book. By contrast, at age 65 only 5 percent of all Americans will be able to afford to live a wealthy life style. Most will be looking for more income. Act now . . . to have a choice of future life style.

Think and live the thoughts that will make you as rich as you want to be! The solutions are there if you look for them.

Title : The New Golden Door to Retirement and Living in Costa Rica: A Guide to Inexpensive Living, Making Money and Finding Love in a Peaceful Tropical Paradise
Author : Christopher Howard
Rating : 3 Stars out of 5.
Summary : Great Book!

Hi, I am working at ILISA Language Institute in Costa Rica, San Jose and I just want to say that this book helps our student a lot by giving them helpful tips or by arrange their own travel in Costa Rica. Thanks!

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