one step at a time

Went to play the Cashflow Game for the first time yesterday afternoon. The gathering, organized by a certain company, was held in a room in an office in International Plaza. It was full house – the tables were crowded with people of all aged. There were also game leaders at each table to help out.

The point of this boardgame is to get out of the rat race, get onto the fast track and buy your dream there.

First, everyone picks a profession card, which lists info like salary, expenses and so on. I got doctor, which made me very amused indeed. (I also had the highest salary and highest expenses at my table.)

Then all players start in the rat race, which is a small circle. We threw one die and just went round and round and round it, collecting our monthly paycheques, getting opportunities to invest in small or big deals, paying penalties, and so on.

So players have to invest so that their monthly passive income exceeds their monthly expenses, and when that happens, they exit the rat race and enter the fast track. This time, players can throw two dice to reach a preselected dream. When they buy it, they win!

One of the players at my table, Ocean, managed to get out of the rat race, but she didn’t manage to win because time ran out!

By the end of the game, I had $1450 in monthly passive income but my monthly expenses was $9650. Nevertheless, I thought I did quite well for a first timer playing a game with an element of luck, as I had sold a house for a profit of $67 000, and ended with $51 400 of cash on hand and a small shopping mall which was fully paid up for $50 000.

Ah, how nice if this was real life!!! :D

So after that the boss gave a short presentation about investment strategies and also reviewed the principles of the game.

Some lessons I gleaned from the event:

– Most of the time, it’s really not how much you earn but how much you save. (But I’d rather earn more. :) )

– Cash may be king but it must be invested to bring in higher returns.

– Investments with greater risks often bring in higher returns.

– One should invest in multiple streams of income, like businesses.

– A successful business needs a good SYSTEM and a good TEAM.

– Last but not least, Ocean’s method of winning was: invest in small deals, generate cash, then invest in big deals.

Can all these be applied to my life? :)

I had fun; I’ll probably go again!!! :D

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