Most of you have played monopoly. Some of you have played the Richdad board game. Other's, are devoted internet MMORPG players, such as games like WoW, and yes, there are simple, albeit VALUABLE lessons learned in all facets of the games.
In Monopoly
You run around the board, buying places, building homes, and then upgrading to motels. This has been run through by RK himself, and done to death, so I needn't cover it to deeply. However, the concept should be done easily enough. If you get into Real Estate, *consider* buying a few small units, getting them to cash flow, and when the time comes, upgrade. It's alot more important to be PREPARED for the oppportunity, than WAIT until you need it. More often than not, we can't even SEE the opportunity because we weren't ready for it. Then you look back and are like "DAMN! Look what I missed out on?!" Train now for what you will need later.
This method to ABOVE AVERAGE living standards isn't tough, but DOES require time, dedication, education, and training. Instead of blowing money on pointless thing, such as miscellaneous foods, save it up to buy a place, either a duplex for you and to rent out the other space, OR, to buy exclusively to rent out if and when you find the right deal. By all means, you don't have to scrimp and NOT buy the IPOD, but all that means is you'll have to replace the lost money spent on luxuries by A) Working harder - work a few extra hours of Overtime, work more hours in a week, etc B) Working Smarter - getting a good deal, improving your ROR, get a degree and pay raise at the same position, etc.
I can't comment on Richdad's Board game, because I haven't played it, but you can find groups who get together exclusively to play the game and learn through local REI clubs. Usually there's a fee to play or join, but it's small, compared to what you learn -- like $10.
World of Warcraft
For those who HAVE not even played a demo, it's very dynamic and forward-thinking game. Thousands of people profit by it, in the real world, just by selling cheap guides to help people LEARN the game. It is so massively elaborate, yet so incredibly simple, that the $5 or $10 guides sell quick. People COULD learn what they need to over time, on their own, but for a few short bucks, most want to know NOW how to do everything they can. There are also other shady "services" that provide leveling and gold farming, but most are not respected by Blizzard and a player could be banned for engaging in such actions as it is not within the spirit of the game.
That said...and I'd made fun of Southpark, too, but for free time, I haven't found a game that could beat it. For me anyways. Anyone who's demoed it, has upgraded. For the TRUE mmo people, there maybe better, but there's also to like. ALL that said...the Auction House within the game and the skills/professions you have to utilize to SURVIVE in the game world are very much like...well what people encounter in the real world, hence why people get addicted -- because it mimics real life, yet people exhibit more control here than in the real world. I'm going to put aside the "video game" aspect so I can use the "economy" of WOW as a backdrop for this discussion. Ok?
How the Economy Works.
Throughout the games various MAJOR cities exist what are known as "Auction Houses." They are exactly like the STOCK market or any FINANCIAL market in the world, and perhaps as real, since all players ARE real players. On the market there exist 2 types of goods:
1) Those produced by people who have certain SKILL trades and PROFESSIONS
2) And those that are found, either unique or not unique.
At any given moment, a product can vary in price. YOU the seller sets a price, and a buyout IF you choose to do so. Prices vary based on need, how many players are on, demand, and quantity available. Guys will try to undercut each other. Some guys will even buy out whole lots of good, just to corner a market on a particular IN DEMAND product. Others will purchase seemingly UNDERVALUED goods, hoping to "speculate" in the naivete of players. The AH (Auction House) is exactly like Wall Street (with less scandals and cheating), and all the emotion of true human interaction. It plays a vital role in the game for several purposes (just like our Markets play a role FOR US):
Gold is the lifeblood of the game. A character can't learn new SKILLS without gold. He can't repair his armor or weapon without it. He can't buy trade goods or food. And sometimes, he can't buy necessary quest items. (Hokey, but stick with it). As you get higher up in levels, HAVING to work for gold dissipates. Learning what's in DEMAND and bringing that product to the market means waking up the next day to having loads of cash to buy supplies, level your guy, and keep him repaired and healthy. Most games don't operate this way, AND CERTAINLY in real life NOBODY things this way. Yet, a simple game, made fun of on Southpark provides the perfect example of HOW it works, and I'm sure Millions miss it each time they log in.
The auction house is the place where you sell the products you make or find for profit, so that you can use the profit to your beneift. Very often you may find an item of no use to you, but very useful to someone else, and make a handsome profit on it. And the OTHER player is also happy because they didn't have the ability to get it, but the small cost they pay provides a HUGE benefit to them, the end user.
Onto Skills/Professions...Within the confines of the game, you're allowed to acquire 2 skills at any one time. You can change them at any point, and the early stage costs are nominal to do so. At high levels, the products you produce and services you render can yield HUGE gold. For instance, being able to MINE and CREATE armor (blacksmithing) can yield BIG gold DOWN the road, to the point where you wake up after listing said products on the AH, to 100's of dollars in gold. (Again, no basis in reality, yet).
It pays to really DIAL these skills in, with an eye toward what WILL be good soon. Initially, the entry level skills are worthless, because the person is merely a worker, not an ARTIST at what they do. Eventually, if you stick with it, you become an artist, and it pays damn good, enabling you TO DO WHAT YOU WANT TO DO.
Isn't this like our modern economy?
Making the Link from FANTASY to reality.
**The Auction House...or the Stock, Bond, Real Estate, Job etc Markets. A market is where you go to sell products or services where the value of said product/services is based on the demand of buyers and sellers. In today's world, job services in manufacturing are a dime a dozen. As are business graduates, or liberal arts degrees. As commendable as having a degree is, you're still suspect to the market forces UNTIL you're an artist at what you do. If you never attain that level, at best you can hope for is NEAR-market wages and employment. If, however, what you choose to do is YOUR passion, and you become an ARTIST, then all the wealth is your's. If you don't or can't find your passion, PICK what you're good at that you can do or tolerate, UNTIL you find that passion that is backed by a market. Some of the greatest riches are had by CREATING a market. That's what Gates did...he created the HOME PC market, and ever since then, he's been wealthy. Michael Dell created the built to order market model, where people could generally customize their PC, or be assisted in doing so. Followers make good returns, but nowhere near what he made/makes. Coke and Pepsi are market creators and leaders. They began the cola market years ago, and lead it by taking innovative steps forward. Either create a market, OR, join a hot, growing market, and be ready to MOVE when it slows down. And slow down it will...
**Skills and Professions. In game, you pick things you LIKE, but that are ALSO complementary to your player. If you're a warrior, mining makes sence because most deposits are in places where some pretty tough guys are, but also because you can link that with Blacksmithing and make yourself gear. Early on it's costly, but later on you're making and selling your wares for profit, and it becomes QUITE substantial at later levels. The same applies here. If you want to be RE and like to sell, consider working in Home Sales, or even in Construction Sales. Do something SIMILAR to your interest and you'll have an edge. Later on, when you no longer need the products you produce yourself, sell that. Or sell the knowledge you've acquired.
If you learn a SKILL at college, which is what it provides. College doesn't make you who you are; you're there for 4 years. Prior to that, you have 18 years of being who you are. And then again, you have 60+ years of being who you are. College can't make someone a businessman if you don't want it, only you can. It can't make you a nurse, it only teaches you how to be one. Taking business classes doesn't make you a businessman, your mentality does. However, you should take a SKILL you like and WILL use in your life. Personally I chose a FINANCE/ECONOMICS/ACCOUNTING degree because it's what I liked, without knowing what I really wanted to do. It has served me well.
You can take this SKILL beyond its defined limits into wealth if you systematize it. When Gates and Dell created their markets, they couldn't actually do it themselves, or they'd never tap the potential. Nor would they want to. Instead, they created a system to help the greater masses, provide profit opportunities to the driven, and utilized their true skills.
Cont'd
A-Unit
In Monopoly
You run around the board, buying places, building homes, and then upgrading to motels. This has been run through by RK himself, and done to death, so I needn't cover it to deeply. However, the concept should be done easily enough. If you get into Real Estate, *consider* buying a few small units, getting them to cash flow, and when the time comes, upgrade. It's alot more important to be PREPARED for the oppportunity, than WAIT until you need it. More often than not, we can't even SEE the opportunity because we weren't ready for it. Then you look back and are like "DAMN! Look what I missed out on?!" Train now for what you will need later.
This method to ABOVE AVERAGE living standards isn't tough, but DOES require time, dedication, education, and training. Instead of blowing money on pointless thing, such as miscellaneous foods, save it up to buy a place, either a duplex for you and to rent out the other space, OR, to buy exclusively to rent out if and when you find the right deal. By all means, you don't have to scrimp and NOT buy the IPOD, but all that means is you'll have to replace the lost money spent on luxuries by A) Working harder - work a few extra hours of Overtime, work more hours in a week, etc B) Working Smarter - getting a good deal, improving your ROR, get a degree and pay raise at the same position, etc.
I can't comment on Richdad's Board game, because I haven't played it, but you can find groups who get together exclusively to play the game and learn through local REI clubs. Usually there's a fee to play or join, but it's small, compared to what you learn -- like $10.
World of Warcraft
For those who HAVE not even played a demo, it's very dynamic and forward-thinking game. Thousands of people profit by it, in the real world, just by selling cheap guides to help people LEARN the game. It is so massively elaborate, yet so incredibly simple, that the $5 or $10 guides sell quick. People COULD learn what they need to over time, on their own, but for a few short bucks, most want to know NOW how to do everything they can. There are also other shady "services" that provide leveling and gold farming, but most are not respected by Blizzard and a player could be banned for engaging in such actions as it is not within the spirit of the game.
That said...and I'd made fun of Southpark, too, but for free time, I haven't found a game that could beat it. For me anyways. Anyone who's demoed it, has upgraded. For the TRUE mmo people, there maybe better, but there's also to like. ALL that said...the Auction House within the game and the skills/professions you have to utilize to SURVIVE in the game world are very much like...well what people encounter in the real world, hence why people get addicted -- because it mimics real life, yet people exhibit more control here than in the real world. I'm going to put aside the "video game" aspect so I can use the "economy" of WOW as a backdrop for this discussion. Ok?
How the Economy Works.
Throughout the games various MAJOR cities exist what are known as "Auction Houses." They are exactly like the STOCK market or any FINANCIAL market in the world, and perhaps as real, since all players ARE real players. On the market there exist 2 types of goods:
1) Those produced by people who have certain SKILL trades and PROFESSIONS
2) And those that are found, either unique or not unique.
At any given moment, a product can vary in price. YOU the seller sets a price, and a buyout IF you choose to do so. Prices vary based on need, how many players are on, demand, and quantity available. Guys will try to undercut each other. Some guys will even buy out whole lots of good, just to corner a market on a particular IN DEMAND product. Others will purchase seemingly UNDERVALUED goods, hoping to "speculate" in the naivete of players. The AH (Auction House) is exactly like Wall Street (with less scandals and cheating), and all the emotion of true human interaction. It plays a vital role in the game for several purposes (just like our Markets play a role FOR US):
Gold is the lifeblood of the game. A character can't learn new SKILLS without gold. He can't repair his armor or weapon without it. He can't buy trade goods or food. And sometimes, he can't buy necessary quest items. (Hokey, but stick with it). As you get higher up in levels, HAVING to work for gold dissipates. Learning what's in DEMAND and bringing that product to the market means waking up the next day to having loads of cash to buy supplies, level your guy, and keep him repaired and healthy. Most games don't operate this way, AND CERTAINLY in real life NOBODY things this way. Yet, a simple game, made fun of on Southpark provides the perfect example of HOW it works, and I'm sure Millions miss it each time they log in.
The auction house is the place where you sell the products you make or find for profit, so that you can use the profit to your beneift. Very often you may find an item of no use to you, but very useful to someone else, and make a handsome profit on it. And the OTHER player is also happy because they didn't have the ability to get it, but the small cost they pay provides a HUGE benefit to them, the end user.
Onto Skills/Professions...Within the confines of the game, you're allowed to acquire 2 skills at any one time. You can change them at any point, and the early stage costs are nominal to do so. At high levels, the products you produce and services you render can yield HUGE gold. For instance, being able to MINE and CREATE armor (blacksmithing) can yield BIG gold DOWN the road, to the point where you wake up after listing said products on the AH, to 100's of dollars in gold. (Again, no basis in reality, yet).
It pays to really DIAL these skills in, with an eye toward what WILL be good soon. Initially, the entry level skills are worthless, because the person is merely a worker, not an ARTIST at what they do. Eventually, if you stick with it, you become an artist, and it pays damn good, enabling you TO DO WHAT YOU WANT TO DO.
Isn't this like our modern economy?
Making the Link from FANTASY to reality.
**The Auction House...or the Stock, Bond, Real Estate, Job etc Markets. A market is where you go to sell products or services where the value of said product/services is based on the demand of buyers and sellers. In today's world, job services in manufacturing are a dime a dozen. As are business graduates, or liberal arts degrees. As commendable as having a degree is, you're still suspect to the market forces UNTIL you're an artist at what you do. If you never attain that level, at best you can hope for is NEAR-market wages and employment. If, however, what you choose to do is YOUR passion, and you become an ARTIST, then all the wealth is your's. If you don't or can't find your passion, PICK what you're good at that you can do or tolerate, UNTIL you find that passion that is backed by a market. Some of the greatest riches are had by CREATING a market. That's what Gates did...he created the HOME PC market, and ever since then, he's been wealthy. Michael Dell created the built to order market model, where people could generally customize their PC, or be assisted in doing so. Followers make good returns, but nowhere near what he made/makes. Coke and Pepsi are market creators and leaders. They began the cola market years ago, and lead it by taking innovative steps forward. Either create a market, OR, join a hot, growing market, and be ready to MOVE when it slows down. And slow down it will...
**Skills and Professions. In game, you pick things you LIKE, but that are ALSO complementary to your player. If you're a warrior, mining makes sence because most deposits are in places where some pretty tough guys are, but also because you can link that with Blacksmithing and make yourself gear. Early on it's costly, but later on you're making and selling your wares for profit, and it becomes QUITE substantial at later levels. The same applies here. If you want to be RE and like to sell, consider working in Home Sales, or even in Construction Sales. Do something SIMILAR to your interest and you'll have an edge. Later on, when you no longer need the products you produce yourself, sell that. Or sell the knowledge you've acquired.
If you learn a SKILL at college, which is what it provides. College doesn't make you who you are; you're there for 4 years. Prior to that, you have 18 years of being who you are. And then again, you have 60+ years of being who you are. College can't make someone a businessman if you don't want it, only you can. It can't make you a nurse, it only teaches you how to be one. Taking business classes doesn't make you a businessman, your mentality does. However, you should take a SKILL you like and WILL use in your life. Personally I chose a FINANCE/ECONOMICS/ACCOUNTING degree because it's what I liked, without knowing what I really wanted to do. It has served me well.
You can take this SKILL beyond its defined limits into wealth if you systematize it. When Gates and Dell created their markets, they couldn't actually do it themselves, or they'd never tap the potential. Nor would they want to. Instead, they created a system to help the greater masses, provide profit opportunities to the driven, and utilized their true skills.
Cont'd
A-Unit