Here’s the outcome of the fourth Cashflow game I played. Although I lost the game, I was able to get out of the Rat Race faster than I did in Game 3 (45 minutes in this game as opposed to 1 hour the last time).
Game Four (Using the electronic version with 2 computer opponents)
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My Occupation: Airline Pilot
Opponents’ Professions: Teacher and Web Designer
Winner: 1st place: Web Designer
2nd place: Teacher
3rd place: Airline Pilot (me)
As I was playing this game, I made some interesting observations:
- I felt much more comfortable using debt to acquire more assets. In fact, I had purchased 2 businesses and 4 properties before I got out of the rat race. I have never purchased this many assets before. Now I’m really beginning to understand what Robert Kiyosaki means when he says that the rich use other people’s money as leverage to buy more properties. I took out loans 3 times to make the down payment, and my monthly cashflow was enough to pay down some of the bank loans. I also sold 2 of my assets that were paying me the least amount of cashflow so that I could purchase a limited partnership and pizza business.
- The ironic thing about this game was that I was leading in terms of passive income acquired for most of the game. However, I was not the first to get out of the rat race; the Teacher was first, and I was second.
- The Web Designer was the last to get out of the rat race, but ended up being the winner because she landed on her dream and was able to purchase it
This just goes to show you that the outcome can be very unpredictable–the win does not always go to the person with the most money or who gets out of the rat race first. The strategy used by both of my opponents was similar–they purchased stocks and then redeemed them for cash, which was then used to buy properties. No one seemed to be fearful of spending their money. Overall, I was pleasantly challenged.
Since I had the same profession in this game as I had in Game 3, I stuck to the same strategy used in that game. Other people’s money (bank loans) was used as leverage to buy more assets. Even though I lost the game, I honed my skills in analyzing and recognizing good deals when I saw them.
If you want to know more about the Cashflow game (why Mr. Kiyosaki designed it), I highly suggest you read his best-selling book [easyazon_link asin=”1612680011″ locale=”US” new_window=”default” nofollow=”default” tag=”earweaforyouf-20″ add_to_cart=”default” cloaking=”default” localization=”default” popups=”default”]Rich Dad Poor Dad[/easyazon_link] This book discusses the fundamental differences between his real father (poor dad) and his best friend’s father (rich dad) regarding money and finance.
For more information about the Cashflow game, please read my review by clicking here.
I welcome your comments or thoughts about playing this game. If you are interested in learning how to be successful in either making money online and/or owning a business, then you must increase your financial IQ and also learn the basics of running a business the right way. Click here to find out how you can learn the basics for free.
Have a great day,