#Cashflow board game how to

Some games you may try to go after some вЂњBig DealsвЂќ right away and be very successful, but in others вЂњThe MarketвЂќ may change and leave you bankrupt because you do not have cash reserves. In another game you may be вЂњThe JanitorвЂќ who only makes $1,600 each paycheck but who only has a $20,000 and only $950 a month in expenses. In one game you may be вЂњThe DoctorвЂќ who makes $13,200 each paycheck but also has a $200,000 mortgage, $150,000 school loans and $9,650 in expenses.

So at this point you may be saying, вЂњThatвЂ™s all great Tom, but how can playing monopoly on steroids help me make money in real estate?вЂќ Great question, and the answer is that playing the games vicariously provides you the experience of investing in real estate without having to actually invest in real estate.ДЄ game of Cashflow takes between 1-3 hours to play and can be played over and over. To win the second phase, a person needs to either land on their dream or accumulate $50,000/month in cashflow. This phase is comprised of вЂњDreamsвЂќ (Pro Team Box Seats, Cruise the Mediterranean on a Private Yacht, Golfing Around the World) and вЂњReally Big DealsвЂќ (franchises, large apartment buildings, IPOs). Once your passive income exceeds your expenses, you move on to the second phase of the game called the вЂњFast TrackвЂќ. You may also have to purchase вЂњDoodadsвЂќ (shopping trips, lottery and the ever popular boat. Occasionally вЂњThe MarketвЂќ will shift and your investments will be worth more or less than you initially paid. This is accomplished by doing вЂњSmall DealsвЂќ (buying/selling stock, single family homes, land and starting small businesses) as well as вЂњBig DealsвЂќ (buying multi-units, businesses and franchises). The objective of the game is to вЂњget out of the rat raceвЂќ by accumulating enough passive income that exceeds your expenses. Each person is given a profession cards that defines their income, expenses, assets and liabilities. So the key question becomes вЂњhow can one make mistakes so they can learn while at the same time reducing the impact of those mistakes?вЂќ Introducing Cashflow 101.Д¬lick Here to Buy Cashflow 101 From AmazonД¬ashflow 101, created by Rich Dad Poor Dad author Robert Kiyosaki, is an educational board game aimed at teaching investors concepts of accounting, finance and investing. With that said, I also believe that mitigating risk is an important concept to understand as well, especially when it comes to investing. I agree wholeheartedly with this and believe that making mistakes is one of the best ways to learn. Cashflow 101: The GameДЄs the introductory quote to this blog states, one canвЂ™t be afraid to make mistakes. I almost never got it right the first time, but the process of making mistakes and trying to figure it out on my own before having his guidance has always made me remember the lesson.

Instead, he would let me try to figure it out for a while on my own.

#Cashflow board game how to

He would give me simple tasks to do, but not tell me how to do them. I remember being with him on some of the job sites when I was a kid.

My father worked in construction and did contract work on the side. вЂњThe greatest mistake you can make in life is to be continually fearing you will make one.вЂќ