Chapter 7 Notes
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Robert - 5/12/2009 1:56:47 AM
What's the name of the game?

What's the name of the game?

If you've played the Cashflow Game before, how did it help improve your financial intelligence?

rdmark - 5/12/2009 3:18:28 AM
reset my mind about how to look at "jobs" and "expense"
At the first stage of the game, the event of "out of job" is a big threat to the accumulation of cash and thus the opportunity to catch the good passive income opportunities. And it is true that job comes and goes and you don't really have much power to control it because you are not the decision maker. After playing this game for a while, I become more aware of the risk of unemployment. I think I could handle it with peace if it ever come to me because I realized that it's not rare at all. And in order to achieve real financial security, I need to get out of employment valuntaryly by owning my business or asset that provide cash inflow.

Another insight I get from the game is that during unemployment, the expense level is just so crucial for survival. I know I hate to "have kid" and "buy fancy TV" in the game, and although i can't do the exact same in my real life, I have definitely gain another perspective about such "good" things. I don't talk about this idea to a lot of people because it may easily make other think I'm stingy (Robert, do you have a way to talk to your friend about expense saving?). But I'm definitely enjoying the expense saving game in my real life and the challenge is actually quite fun!

I have my own cash flow game in real life with the help of spreedsheets. I do personal accounting recheck on the first day of every month and I also have a progress bar about financial freedom. The percentage of completion is still very low, but I'm glad to see at least i'm among the top 10% of the people around that have some passive income.
Fast Tracker - 5/12/2009 3:20:11 AM
How Cash Flow improved my financial intelliegence
Lots of lessons...but the largest lesson that I learned was partnership. I was playing with some folks who played the game on the board while I was playing in life...(love the game).. I learned from one of the players how if you partner with other people on the board how it accelerates your progression to the fast track. I swear it was within 2 weeks or 2 months I started my first partnership (true partnership)...we have done several deals since then but still have that first deal which cash flows each of us about $2,200/month.. I might not have been so eager to share the cashflow from that deal had it not been for Cash Flow. It would be nice to have the $4,400 that property puts out...but we share in risk, profit, and education... very good lesson.. Thank you Robert!
Loulu79 - 5/12/2009 3:25:09 AM
Cashflow Game...
Hi Robert and Crew,

The Cashflow Game got me addicted to want to FIND creative financial solutions—solutions I would never have found had it not been for my first mistakes at the beginning phase.

Slowly but surely... I realized I really didn't want to have negative cashflow... nor wanted to rely on the bank for loans for real estate or businesses. I wanted to be my own bank... so I learnt to negotiate with one other player to sell and sell and sell... until I had enough assets and found more savvy investing that got me out of the Rat Race. This has brought out the negotiator within me, which I never knew I could be. I also didn't know until just recently that I could find property and sell it—without using any of my own money. That's odd and wonderful. Thanks Chayot...

I also learned that the longer I stayed in the Rat Race... the more chances I'd have to put up with those irritating expenses like doodads... or worse being downsized (and not being prepared). This game is shedding me new eyes: right now I have no idea when I'm going to lose my full-time, unstable job... although it's inevitable. This is what I was looking forward to since last year. I'm beginning to anticipate and welcome Change... instead of dreading it.

Tick toc tic toc went the clockwork in my head: I'm now realizing that later down the road this year we're going to have another crash (thanks Robert for the radio podcasts) ... and now I'm creatively finding new ways of gaining assets. Soon these paper assets (fake money) would help me buy gold and silver (real money)... but nothing beats using your financial smarts before jumping in the dark end of the water. That means really educating myself first.

I feel we're now in the Cashflow game in the real world... with the time ticking away at us to creatively and smartly use our financial genius. We have a sleeping giant within all of us to free ourselves from the "fairy-tales'—fairy-tales that I ironically detested for years. Anyone who's in fear about what lies ahead: you too have what it takes and all is well.
buildwealth - 5/12/2009 4:37:40 AM
The Cashflow game has been an
The Cashflow game has been an invaluable tool for me on my way to financial freedom. The game really makes you take a look at your expenses, and the effect that doodads and other liabilities can have on your cashflow, and financial status.

It is when you get the opportunity to purchase assets that will create the necessary passive income that you need in order to achieve financial freedom. Many people think that all you need to be rich is a high paying job, and a large bank account. In the game you realize how that is really not the case, you can have a high paying job, but with a high paying job comes more expenses and more money going out.

The cashflow game is definitely priceless.
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herbigp - 5/12/2009 5:16:36 AM
name of the game
The game really made me realize I need to just be patient and the good deals will present themselves. Cashflow also helped me ralize I need to keep my money moving into better cash-flowing assetts.
joelewis456 - 5/12/2009 5:29:02 AM
Cash Flow
The game cash flow has changed my life forever. Before playing the game, I never knew what a financial statement, asset or liability was. I was extremely in debt and continued to purchase liabilities such as cars and toys without purchasing any assets. Now because of cashflow the game, I'm on track to be out the rat race my March 2010.
mina goossen - 5/12/2009 5:55:01 AM
cashflow lessons
Although real estate business in the Netherlands is quite different I learned from the game.

Here a mortgage is a personal loan and not paying mortgage means you loose the house AND you're left with any debt as a result of the bank selling the house for a quick and therefore ridiculous price (since they are not in danger of loosing money) just to get rid of you.

I learned the distinction between cashflow and capital gains. But I am still struggling with the question how to balance raising capital to start gaining cashflow opportunities on one side and dealing with the facts of life like babys, holidays etc.
So it changed my focus but I have no measure to perform the transformation. Are there any rules of thumb, like spending x% of your income in raising cashflow and leave the rest for safety?
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foxhound67 - 5/12/2009 6:45:42 AM
lessons from Cash flow
Kia ora Robert,

well it has helped me see things in new light. only thing is now I am back in NZ totally frustrated as I can't use it. those in banks can't understand the concept. with our finance companies in collapse not sure where to turn. know what to do now thanks to 101 & 202 it is just being able to get the opportunity.

first thing they all look at is what I earn, not if deal is cash flow positive. one deal was turned down that would of had positive cash flow of several thousand. was told person making decision was experienced in business. my reply was they knew very little if anything about business & no wonder banks in a mess.

so lessons are great but being able to use them in real world just doesn't seem to be working for now. missing so many opportunities.

do play the game slightly different though as there is one aspect that if you do here in real life you are at a tax disadvantage (we have no capital gains tax, but if you Wrap (purchase then on sell the mortgage) then you are taxed as a trader because it counts on your intent at time of purchase & wrapping shows you intend to sell).

right now just looking at how to kick start my business to increase cash flow then build that base using good cash flow investments
Dacesita - 5/12/2009 8:36:47 AM
Cashflow lessons
Hi Robert! Greetings from Riga, Latvia!!!

The CASHFLOW game helps me a lot right now because I now write my first business plan in order to attract investors to invest in CF properties here in Riga.
I know that my target audience will be on the fast track because they understand cashflow. I've talked with a couple of really well off people here and even if they have their business, they don't understand cash flow. I noticed the difference of thinking on the 2 tracks. And in my business plan I have to think like on the fast track do in order to attract the rich.
I learned that I have to create my rat race paycheck here in Latvia as soon as I can. (I returned here 4 weeks ago for 10 months from Germany/USA - my husband petitions for my US Green Card.)From CASHFLOW I learned that the bigger the paycheck on the rat race the better, BUT - you must keep your expenses to the minimum, otherwise it makes no sense.
I established one principle out of my CASHFLOW bankruptcy lessons - don't gamble or you will lose your shirt and you've deserved it!!!
I learned how important is partnership. I won the last game because of partnership. The situation was: I was a janitor. I bought stocks of 2 companies for a low price, but not the lowest. Then a small deal came with 134% ROI. Then I pulled a market card and sold it making 69k profit. My other friend was a doctor and she sold 3 houses like that. So we had about 200k both together. The 3rd player had 10k cash. So I pulled a big deal and got the apartment complex with over 11k passive cash flow. All three of us partnered and I was out of the rat race with one deal even though my ownership was 45% and I have borrowed additional 20k from the bank to get into it.
I learned that the most terrible thing on the rat race is downsize. Therefore I made a decision (and a mini how-to business plan)to diversify my earned income and I can do it more easily because I'm self employed.
I also learned that not all deals are good for everyone - it really depends on situation.
Very important was a lesson of not getting into emotions but sticking to your sound mind and being faithful to your strategy. I learned to say "NO".

Well, simply said - Robert, thank you for saving my financial life in my mid twenties. I plan to retire by the age of 30. The 5 yr plan to be rich we were told to do (in "Choose To Be Rich" 3-day retreat in NYC) will help me to make it and I read it 5 times a day.
God bless you and your family!!!
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