The point of playing Monopoly is to become so rich you suck the other players’ bank accounts dry. The play of the game is quite vicious, but fun. This game has taught me a few valuable lessons about obtaining assets.
What are Assets?
Rich Dad, Poor Dad author Robert Kiyosaki stated assets bring you money and liabilities take money away. Remember the whole crazy affair with the GameStop stock? People consider the stock a value and bought loads of it while they could. Other assets include gold, real estate, and businesses.
Meanwhile, your Lamborghini and your 10-bedroom mansion would be liabilities. Sure, they’re straight-up fancy, but they don’t bring you real profit in the long run.
I was frustrated after learning the truth about assets. I could have been using my money better earlier in my life. Society is so quick to shove the Pythagorean theorem down our throats in the classroom we barely have time to learn anything else of real value. On the other hand, I can’t blame society. What’s the point? It’s up to me to educate myself. Luckily, Monopoly was around to teach me a thing or two.
Monopoly is Real Life (Somewhat)
I had no idea how to play Monopoly. All I knew I was supposed to collect money and cards with fancy property names. I barely knew what else to do with the properties.
Growing up, we’re told we have to work to make money. I’m talking about work where you wake up at 6am, get dressed in a business casual suit, and work in somebody’s office for eight hours, return home, and repeat this pattern for 30+ years of your life. The knowledge of working for yourself and building multiple income streams is pretty much left out. You have to step out of the crowd and figure these things out yourself.
People don’t become millionaires working 9–5 jobs. To those who are comfortable with that work lifestyle, that’s absolutely fine. However, not everybody wants it.
Rich people don’t work for money; money works for them. Monopoly can teach you how to turn your money into your employees and put them into mass money systems.
Monopoly has offered me two tips on how to win the game and the ability to do it in real life:
1. Start Buying Assets
I don’t have the money to start purchasing houses as real estate investments like in the board game (yet). I started small with stocks. A forest begins with one seed.
The 2020 pandemic rocked the economic world. Some people didn’t want to bother with stock investing with companies dropping like flies left and right. For me, I took a stab at it. As I grabbed stocks at bargain prices, I read books about stock investing and learned from YouTube. I made a few mistakes along the way, but I was happy I’ve made my decision.
I know the stocks I had would help me in the long run. Long-term rewards should always come first before short ones.
2. Use Assets to Buy Other Assets
I learned not to spend all the money at once on the little green houses on my Monopoly properties. Instead, I waited patiently for my renters’ money to buy the houses instead. My assets alone helped me gain more assets.
Imagine you have a thriving eCommerce business giving you back $10,000+ a month. You don’t have to worry about working for anybody else. You’re tempted to use your profits for your dream three-month Mediterranean vacation. Meanwhile, you’ve been thinking about creating another online business. What to do?
Put the dream vacation aside for now and use your profits to set up more businesses or products. The more assets you have, the better.
Liabilities should be the last thing on your mind. Eventually, you can let all the assets you have collected pay for the fun trips for you.
Who said board games can’t teach you anything? Monopoly did.
I know not to become a power-hungry capitalist (lol, no no). Playing Monopoly has introduced me to the underrated benefits assets can bring into my life. Now, I know where to put my money (and how to play Monopoly better). With assets in your hands, you control where your money goes, not the other way around.
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