We've seen that those who devote themselves to mastering this game, in addition to reading and hearing great talks, go on to much greater success in investing.
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This is why, even though we have books and seminars, we've always said the best way to learn how to invest is to play our financial education board game, CASHFLOW. Mackay writes for Stanford University: We may think we're pretty smart, but in fact we have very little notion of how humans learn. The result: a jump of 40 kids in the top rankings of the California Math Test, up from less than 10 at the start of the program.Īnd as R.F. He then goes on to make the case for why gamification is the future of education-including an amazing example of a teacher using Monopoly at a school in California's Inland Empire to teach kids about money, among other things. Experiencing the chemical benefits of the pleasure we feel when dopamine is released through our achievements helps us remember and learn far more efficiently. Asking us to sit down and pay attention does very little for our education, when in reality we learn more by trying, making mistakes, and achieving. Zichermann talks about how the modern education system is fundamentally opposed to our nature as humans. It’s not that reading books or listening to lectures are bad or wrong, but if the knowledge you learn doesn’t translate to simulation, you’re missing out on a key component of learning.Ī couple years ago, I shared a wonderful TED Talk by Gabe Zichermann called " Changing the Game in Education”. A lot of people like to read or listen, but it's proven that you learn better by simulating than any other method of education. Games like CASHFLOW make you a better investorĪnd this brings to mind a simple truth: games make you a better investor. In the process, you learn the valuable lessons my rich dad taught me about money, as well as the lessons I learned over a career of investing and building great wealth. The goal of the game is simple, escape the Rat Race of your 9-to-5 job by using a variety of investing strategies to build an arsenal of assets (and avoid liabilities, called Doodads) to help propel you onto the fast track, where real wealth is built. With CASHFLOW, you play against both other players and markets and even nature. In Monopoly you only play against other players. With the CASHFLOW game, I took the simple rules of Monopoly and applied the complexities of investing scenarios and the effects of markets. I wanted to teach the world these lessons, but to do so in a fun, engaging, and effective way. Along the way, I learned a lot of other lessons that led to being a successful investor. The simple lessons around money that I learned from my rich dad and Monopoly were the foundation I needed to eventually become rich. The CASHFLOW Game is Monopoly on steroids
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Investing can set you free from the struggle of earning for a living and worrying about money Eventually he did own his own hotel right on the beach-and then a few more.Īs I shared before, I learned four valuable lessons from my rich dad by watching him play Monopoly in real life: He built his fortune from the ground up, starting with some small stores and moving into more and more sophisticated investments. My rich dad didn't just play Monopoly with us on his sunny patio.
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It's a simple game, but an important lesson. Basically, more green houses and red hotels means more cash flow.
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In order to make more money, you develop and improve those properties, building houses and, eventually, hotels.įor example, having one green house on a property you own could make you $10 when someone lands on it. You purchase property, balancing cost and location, and collect rents when people land on your properties. This one great formula rich dad spoke of was that of cash flow. Rich dad told us that, "One of the great formulas for wealth is found in Monopoly: four green houses, one red hotel." I don't really have a horse in the race when it comes to Monopoly game pieces, but this little piece of news did bring up some fond memories of playing the game with my best friend, Mike, and his dad, my rich dad. They opened public voting on what piece to remove in order to make room for more modern game pieces "like the hashtag, the wireless phone, and the rubber duck." After four million votes, the thimble was gone-and everyone is still trying to figure out why a rubber duck would be considered more modern. Of course, it's not really Hasbro that made the decision. Taking action, having fun, and growing your wealthĪ few years ago, Hasbro announced that they were removing the classic thimble game piece from the popular board game.