Increase Your Financial IQ By Playing Cashflow–Game 6

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Here’s the outcome of the sixth Cashflow game I played. I did not succeed in winning this game; I came in third place. In fact, this game seemed to be over for me before it even started. (The game lasted for only 1 hour). I did not even have the chance to accumulate any funds needed to purchase properties that generated cash flow. As I was playing this game, I made some interesting observations: 

 [easyazon_image align=”none” height=”110″ identifier=”B002LG7GN0″ locale=”US” src=”https://ecx.images-amazon.com/images/I/51FL0aMBMoL._SL110_.jpg” tag=”earweaforyouf-20″ width=”76″]

 

Game six (Using the electronic version with 3 computer opponents)

 

My Occupation: Army Officer

Opponents’ Professions: Custodian, Web Designer, and Lawyer

Winner:  1st place: Custodian

2nd place: Web Designer

3rd place: Army Officer (me)

4th place:  Lawyer

 

My Observations

This is how the custodian won the game:

  • He kept his expenses low; the roll of the dice was such that he did not pay for any expensive doodads and did not have any babies
  • He purchased some stock at a low price and held onto it until he could redeem it at a higher price for profit. This is the stock he purchased:

  • He used the $24K from the stock sale to make a down payment of $5,000 on a 2BR/1BA house that costs $60K.

condo sale small deal

  • The roll of the dice enabled him to sell this property to a buyer for $65K. This purchase allowed him to get out of the rat race. His passive income from this sale was greater than his monthly expenses of $950.

Condo_2BR-1BA

  • While on the fast track, he was able to purchase some businesses to accumulate some passive income. He won the game by landing on and purchasing his dream–to be a “Jet-Setter”.
  • I lost the game because the roll of the dice was not in my favor– I kept landing on various “doodad” purchases and also landed on “downsized” spot where I lost 2 turns. I was finally able to purchase my first property after the custodian was already on the fast track.

Lesson Learned

Sometimes life can be great where all your hopes and desires can come to fruition without any major setbacks and at other times, you can get setback after setback that appear to keep you from achieving those hopes and desires. The best way to overcome any setback is to not give up; perhaps all that needs to be done is to either make some minor adjustments or to just simply wait for another time or opportunity.

Conclusion

If you want to know more about the Cashflow game (why Mr. Kiyosaki designed it), I highly suggest you read his New York Times best-selling book[easyazon_link identifier=”1612680011″ locale=”US” tag=”earweaforyouf-20″]Rich Dad, Poor Dad[/easyazon_link]. In this book he discusses how his philosophy regarding money and finance was shaped by his two dads as a young boy growing up. For more information regarding Rich Dad, Poor Dad, read my review by clicking here.

One of the main points Robert Kiyosaki makes in his book is that if you want to achieve financial freedom, you must be a business owner rather than an employee. The wealthy 1% of our society are all business owners, not employees.

How do you become a business owner? There are 2 major approaches:

1.  Purchase a brick and mortar business or franchise, such as McDonald’s

2. Create a website to run an online business as an affiliate marketer

If you have no clue as to how to get started owning a business, don’t despair. I have the solution to that issue–Wealthy Affiliate.  This is a website community of ordinary people who have the desire to own a business and make money successfully whether is is online or brick and mortar. To get started with your free account at Wealthy Affiliate, click here.

If you have any questions  or comments about playing the game Cashflow, please feel free to put them in the comment field below; I will be happy to respond.

Wishing you the best,

Deidre

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4 thoughts on “Increase Your Financial IQ By Playing Cashflow–Game 6

  1. Very good financial lessons, and an fun way to learn it with the cash flow game. I am going to check it out for myself. I did read the book rich/dad poor dad, and thought it fairly profound.

    • Deidre says:

      Hi Vic,
      Thanks for the comments. If you do decide to get the cashflow game and play it, let me know;
      maybe we could share some thoughts about the outcomes of each game.
      Deidre

    • Deidre says:

      Hi Jeff,
      Thanks for commenting. If I may ask, what interesting concepts have you learned from reading my post?
      Deidre

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