Life is a game of Monopoly

I'm pretty sure almost everyone has played the board game "Monopoly" sometime in their life. The board game is about investing in property (land), developing the land by building houses and hotels and collecting rent from players that land on your property.

It is a board game that is much more than just a board game. It teaches one how to invest, how to manage cash flow, how to maximise returns and how wealth is built.

For the vast majority of people, it is a fun or frustrating board game. For me, it was an insight into my future, and a serious training tool when I was a young child that would become reality as an adult. I loved playing monopoly. I loved the challenge, the wheeling and dealing and strategy of it all. For me, the concepts learned in Monopoly is how wealth is built. Monopoly actually is life.

One needs to understnd that life really is a game of Monopoly, and the sooner you learn to play it well, the sooner you will start on your success journey.

Monopoly shows you that going around the board earning your $200 "salary" each week (for every time yoy pass "Go" around the board) barely allows you to make ends meet.

You soon learn that if you fail to invest in income-producing assets (property, railroads etc), you will eventually go broke.

Monopoly teaches us to invest our money and that our income from investments (properties) eventually far outweigh the income from working in a job (just going around the board earing $200 each time).

I have lived my life playing Monopoly in real life.

My "properties" (assets) were my business, my investment properties and equities. I collect dividends, rents, and company profits which now fund my lifestyle.

If you haven't played Monopoly in a while, may I suggest you get it out, wipe the dust off it and play a game or three with family or friends. While you are at it, look for the lessons it gives!

Lesson:

• Life is a game of Monopoly. You cannot live comfortably and make ends meet and build wealth for retirement by just getting a weekly paycheck. You certainly can't create wealth on an avearge salary without investing. In fact you quickly fall behind! You need to invest, grow your assets, earn income from your assets so that income eventually outweighs your salary. In real life, you don't have to invest in houses and hotels, it doesn't have to be property. You can invest in any asset class you like.... just invest.

(By the way, I had to use the picture below as I did not have the rights to use the registered trademark of the game).