Passive Income Night with Joel
Last night I went over to my Passive Income Buddy's place and brought along the board game CashFlow 101.
We had a great time! Joel showed me the trading software he and his boyfriend have invested in, and took me through the basics of how it works and how he's supposed to use it in order to get the most out of it, and he showed me a few websites he had found that related to the Canadian market and laws (see the link on the title of this entry), and showed me that he had found there were a few "Rich Dad Clubs" in our city, including one that had CashFlow 202 available for its members to play.
Joel emailed the contact for that club, inquiring about whether they're taking new members and whether they're meeting during the summer months. I hope we don't have to wait until September, as I'm quite looking forward to meeting new like-minded people and playing the advanced version of the game I have, without having to purchase it first.
Joel also showed me there was an upcoming "Rich Dad Advisor" seminar in our area, and the entry fee was at its early bird fee which was 20% of the full rate. Joel had already registered, so when I got home last night I registered myself as well. That's in August, and I just finished writing it on my calendar next to my desk so as to remind me.
After a while, we settled down to the kitchen table to set up and play CashFlow 101. This is the second time Joel has played the game, and about the 6th time I've played it, so we're both familiar with the general rules and only had to check to confirm every once in a while.
Since we're both adults and playing for our own benefits, we altered the rules slightly for our own liking - namely, since the best part of the game was getting out of the Rat Race (and the most important to where we are right now) , we decided that once someone got out of the Rat Race, they'd turn in everything, get a new sheet, and a new career card, and start again. Plus, we didn't audit each other's financial statements to catch errors. This was for our own learning and thus we weren't going to be cheating ourselves.
A lot of the Rat Race part of the game CashFlow 101 is about stepping up to the plate and reducing fear of making a wrong move and ending up in bankruptcy. Plus, it encourages the purchase of Real Estate, land and businesses over stocks, bonds and certificates of deposit. I mean, I always start out with cheap stocks to get some initial cash, but once I can start to buy real estate with any regularity, the stocks largely get ignored.
Another big part of the Rat Race part of Cashflow 101 is the luck of the die, as with any game. Last time we played, Joel had 3 kids and was downsized 4 times over the course of the 4-person game, and thus he was far far away from getting out of the Rat Race. This time, however, he landed on more Small Deal/Big Deal spots and on The Market more, enabling him to buy into and sell off real estate and stocks. Unfortunately, he also landed on a Market square that earned him a card which sent both of his rental houses into foreclosure before he could sell one!!
The dice were with me last night. I ended up getting out of the Rat Race twice before Joel got out the first time.
We played for about 3 hours before calling it a night, and prepared for next time by selecting our next career path, and both starting with high-paying ones like Doctor and Lawyer to see how much more difficult it is to get out of THAT Rat Race (with higher income and thus higher expenses).
Next week is busy for both of us, so we've left it open as to when we're going to get together again next.
What a great start!!
We had a great time! Joel showed me the trading software he and his boyfriend have invested in, and took me through the basics of how it works and how he's supposed to use it in order to get the most out of it, and he showed me a few websites he had found that related to the Canadian market and laws (see the link on the title of this entry), and showed me that he had found there were a few "Rich Dad Clubs" in our city, including one that had CashFlow 202 available for its members to play.
Joel emailed the contact for that club, inquiring about whether they're taking new members and whether they're meeting during the summer months. I hope we don't have to wait until September, as I'm quite looking forward to meeting new like-minded people and playing the advanced version of the game I have, without having to purchase it first.
Joel also showed me there was an upcoming "Rich Dad Advisor" seminar in our area, and the entry fee was at its early bird fee which was 20% of the full rate. Joel had already registered, so when I got home last night I registered myself as well. That's in August, and I just finished writing it on my calendar next to my desk so as to remind me.
After a while, we settled down to the kitchen table to set up and play CashFlow 101. This is the second time Joel has played the game, and about the 6th time I've played it, so we're both familiar with the general rules and only had to check to confirm every once in a while.
Since we're both adults and playing for our own benefits, we altered the rules slightly for our own liking - namely, since the best part of the game was getting out of the Rat Race (and the most important to where we are right now) , we decided that once someone got out of the Rat Race, they'd turn in everything, get a new sheet, and a new career card, and start again. Plus, we didn't audit each other's financial statements to catch errors. This was for our own learning and thus we weren't going to be cheating ourselves.
A lot of the Rat Race part of the game CashFlow 101 is about stepping up to the plate and reducing fear of making a wrong move and ending up in bankruptcy. Plus, it encourages the purchase of Real Estate, land and businesses over stocks, bonds and certificates of deposit. I mean, I always start out with cheap stocks to get some initial cash, but once I can start to buy real estate with any regularity, the stocks largely get ignored.
Another big part of the Rat Race part of Cashflow 101 is the luck of the die, as with any game. Last time we played, Joel had 3 kids and was downsized 4 times over the course of the 4-person game, and thus he was far far away from getting out of the Rat Race. This time, however, he landed on more Small Deal/Big Deal spots and on The Market more, enabling him to buy into and sell off real estate and stocks. Unfortunately, he also landed on a Market square that earned him a card which sent both of his rental houses into foreclosure before he could sell one!!
The dice were with me last night. I ended up getting out of the Rat Race twice before Joel got out the first time.
We played for about 3 hours before calling it a night, and prepared for next time by selecting our next career path, and both starting with high-paying ones like Doctor and Lawyer to see how much more difficult it is to get out of THAT Rat Race (with higher income and thus higher expenses).
Next week is busy for both of us, so we've left it open as to when we're going to get together again next.
What a great start!!
posted by SingleGrrl @ 7/06/2005 08:20:00 AM
0 comments
0 Comments:
Post a Comment
<< Home