Cash Flow – How To Get Out Of The Rat Race (October)
Cash Flow – How To Get Out Of The Rat Race, from Robert Kiyosaki, the author of the educational series, Rich Dad, Poor Dad.
If you have ever played Monopoly, then you’ll appreciate the differences and the value of picking up where Monopoly ended. As you will recall, Monopoly consists of using cash to purchase real estate and then buying houses and hotels to collect rent from other players. The winner of the game is the person who ends up with all the properties on the board and collects rent from all the other players. I recall that luck had a lot to do with winning in Monopoly and some nights we played for over 5 – 6 hours.
Getting Out of the Rat Race is different in that instead of getting cash in the beginning of the game, each player selects a character that they are going to role play during the game. It could be an engineer, a lawyer, a mechanic, a secretary, etc. Each player then gets a balance sheet and income statement they fill out so they can learn to keep track of their assets, liabilities, income and expenses. The objective of the game is to build your assets by learning how to invest in different types of investments and reaching the point that your passive income from your investments is greater than your expenses. The first player to accomplish this, wins.
During the game, each player gets a turn to roll the dice and has the opportunity to make investment decisions that will move them closer to getting out of the rat race. You could invest in stocks, businesses, real estate, gold, etc. The learning comes when you start to make investment decisions and how every transaction affects your balance sheet and income statement.
Please note that we are starting the club for beginners, so no experience is necessary. However, once you have learned to get out of the Rat Race, the next stage is learning how to get on the “Fast Track,” which is the next stage of the game that we expect to play in the future.
- Wednesday, October 16, 2019
- 5:30pm - 7:30pm
- Fourth Floor, Room 4009
- Davie -Main