So, when was the last time you actually took the time to sit down and play a board game? Bet it's been a while! And when was the last time you learned something from a game (besides how to drive an imaginary race car or how to blast a villain with a rocket launcher)? Hey, not pointing fingers, I'm guilty too, nothing like virtual bowling on Wii!
My son had recently seen an add on TV and was really excited about a particular game: Monopoly! I hadn't played it in probably over 20 years, but I had always enjoyed it, so I ventured out into one of the local toy stores and after making my way through rows upon rows of video games, found one on a dusty shelve in the very back of the store - guess it was just waiting for me!
Minutes into the game, it all came back to me and we were having a great time! Then came the moment when things started to turn - I hadn't been so lucky purchasing streets, I had started last and pretty much every street I landed on was already taken. The other players were running a little low on cash as they had spent their money on purchasing land, I still had all mine but that didn't last very long - after having to pay "income" and "luxury" tax a couple of times plus of course having to pay rent every time I landed on one of their streets, my cash was slowly disappearing and I had nothing to show for! And then of course, the others started to put houses and hotels on their purchased streets and after a couple of rounds and paying the high rents, I was pretty much bankrupt while they were sitting back counting their cash ...
Well, just a game, right? Yes, but what a LIFE LESSON this game teaches! Being in the industry, I of course already knew the reality of how important it is to own Real Estate, but what an easy yet effective way to teach the young ones or people that are not in the industry!
When it comes to achieving wealth (and I mean real wealth, not just "being rich"), the key component is "financial independence", and one, if not THE best way to achieve this is to invest in Real Estate. This simple game of Monopoly teaches you one very important lesson - paying somebody else rent is NEVER going to make you rich!
Many times, especially when I talk to the younger generation, I hear things like "I don't have enough money to buy a place" - what many don't understand is that you don't have to start out with a mansion - just like in Monopoly, you start small, you buy something that's cheap and when you have more money (meaning the property has accumulated equity), you move up to the next bigger thing.
So if somebody's birthday is coming up soon and you're not quite sure what to get them, spend $15 on a game that will teach them a lesson that is priceless. And what better time than now to start the game of investing - prices are the lowest in years and so are the interest rates.
Enjoy the game!
Sincerely,
Stephanie
