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Author: Palermo2 Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 6881  
Subject: "Rich Dad's Prophesy" Date: 1/17/2005 4:06 PM
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Has anyone read Robert T. Kiyosaki's "Rich Dad" books - Specifically, "Rich Dad's Prophesy"?

In it, Kiyosaki predicts that around 2016, one of the biggest stock market crashes in history will wipe out the retirement savings of millions of employees.

The cause? The first baby-boomers will hit 70.5 years old and, by law (ERISA), begin to withdraw from their 401k plans. the demographic "drain" from the stock-market will create a market with more sellers that buyers and trigger a panic and perhaps the largest crash in history.

Is anyone familiar with this theory?
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