How to get out of the rat race
Cashflow 101 is a board game designed by Robert Kiyosaki, author of bestselling book “Rich Dad Poor Dad.” Kiyosaki developed Cashflow 101 to help teach people the basic principles of getting out of the Rat Race.
The game has two separate “Tracks” on it; the “rat race” and the “fast track”. Everyone starts off in the rat race and their primary goal is to get on to the fast track. The rat race represents the average person’s life today, living from pay check to pay check, and just getting by. However, scattered around the rat race there are opportunities to create residual income, and after practice, you learn to recognise what is and what’s not a good opportunity.
The opportunities in Cashflow 101 range from real estate deals to stock options, and even include opportunities to start part-time businesses. The player simply needs to increase his/her residual income to be greater than his/her expenses. However, just like in life, there are the dreaded “doodad” squares. Doodad’s is the name Kiyosaki has given to liabilities that people buy. If you land on a doodad, like buying a new car for example, then your monthly expenses increase, which in turn means you need to increase the amount of residual income you earn to exit the rat race.
While trying to find your way out of the rat race, each player has to look after an income statement and a balance sheet. At first this seemed really difficult and complicated, but after 2 or 3 games, we soon got the hang of it, and it was then “easy.”
Once you qualify to exit the rat race, you step onto the fast track. Your income suddenly shoots up incrementally and you no longer have to work. The fast track is full of fancy, posh, holidays, businesses, and experiences.
I must be honest; the getting onto the fast track in Cashflow 101 is somewhat of an anti-climax, whereas I can’t wait to get onto the fast track in real life! Let me give you some examples to show you what I mean. One of the experiences is a trip to go and see the seven wonders of the world – “go by plane, boat, bicycle, camel, canoe and limo to the 7 Wonders of the World. First Class luxury all the way: $200,000” another example is Buy a forest – “Stop the loss of ancient trees. Donate 1,000 acres of forest and create a nature walk for all to enjoy: $250,000.” If you have the specified amounts, you pay the money, and put a marker on the square to say you have done that. Not quite the thrill of the real thing...
All in all, I think this is a brilliant game. It has been simplified specifically to help people grasp the basics of investing, and increasing their residual income. It teaches people to keep their eyes open for opportunities that come around every day and to capitalise on them and ultimately exit the rat race.
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PS: Think you need to rob a bank to earn $10k a month?