My Life, Your Story.

I was quite surprised by my results in the game CashFlow 101 last nite.

After an hour of intense excitement, umpteen times of scribbling, den rub away, den re-scribble again on my allocated sheet of paper that it almost got torn haha! I turned out to be 1 of the 3 (out of a total 11 players playing 2 board games concurrently) that actually managed to get out of the Rat Race & on to the Fast Track. ;)

In this game, we all start with being inside a race called the Rat Race - A race where all ppl are trapped in intially. Work - Pay check - Pay expenses - Work - Pay check - Pay expenses Horrible & no life?

Thus the OBJECTIVE of the game - to get out of Rat Race & to be on the Fast Track. Fast Track - where the rich are, where there's Financial Freedom, abundance of cash flow taking place, much higher stakes are involved etc. This is also a place where they can finally start to fulfill their long-life dreams etc..

Usually the entire game (Rat Race + Fast Track) will take a total of 3-4hrs, but due to time constrait, we only played for 1 hr, (everything's accelerated with the help of 3 facilitators) in which the objective is solely only TO GET OUT OF THE RAT RACE.

In order to do that? Your Passive Income > Your Total Expenses
(this means that you have come to a stage whereby even you don't have to work, you are still able to support yourself & your monthly expenses - you can RETIRE)

They set this 1hr to be equivalent to our age: 25-65 years old.
Thus to say. the FASTER we get out of the Rat Race = the YOUNGER we retire.

Even though i managed to get out of the Rat Race in the end, it took me nearly the whole full hour to be able to do that, which means somehow i retired at the age of ~60. haha. -_-"

This's my Score Card after 1hr of play:

My Profession: Business Manager
1) Income
Salary - $4,600 (or rather, my earned income)
Interest - $0
Dividends - $0
Real Estate - (in this 1hr, i acquired 6 here, helping me to generate an additional cashflow, which is also called my passive income) $4, 450

TOTAL MONTHLY INCOME: $9,050

2) Expenses
Taxes - $910
Home Mortgage - $700
School Loan Payment - $60
Car Payment - $120
Credit Card Payment - $90
Retail Payment - $50
Other expenses (food, transport, bdaes, weddings, shopping etc etc.) - $1,000
Children expenses - $720

TOTAL MONTHLY EXPENSES - $3,650

Therefore, MONTHLY CASH FLOW: $9,050 - $3,650 = $5,400
(note that my Passive Income > Expenses, therefore i can get out of Rat Race and be onto the Fast Track)

TOTAL ASSETS - $568,000

On hand cash flow (liquidity) - $30,320 (the amt of money i've on hand that i can do whatever with, buy stufffs, invest more etc. with no worries that my expenses are not covered, coz my passive income that's coming in every month has already at the very minimal covered my total expenses already)

Not very fascinating results though, but they say i was pretty gd for a 1st timer (haha) coz at least i'm one of the few who managed to get out of the race, whereas some financial statement's around the same as when they started out the game, some struggled with their cash flow, some even ended up in heavy debts! & i have to tk into consideration this time i might have been lucky too (due to presence of more opportunities, for eg.) so it's not reali coz i'm more financially literate than the rest or wat..

& they want me to aim to get out of the race within 30mins the next time! Which is equivalent to ~45yrs old!*woah*

A more accurate way to see whether one has reali grasp the essence & idea behind this game (aka a Rich Man's Mindset) is when he managed to get out of the Rat Race consecutively more than 3times. =)

I've come to learn so much from the seminar and game.. abt the importance of buying assets instead of buying liabilities, abt being bold to take risks & grasp good opportunities when it comes along, abt the difference between good debt & bad debt etc.

Yea & i wanna put what i've learnt into use in real life.. It's not gonna be easy, but it's possible..
It's not abt one's techniques. It's abt one's mindset , Robert T. Kiyosaki said.

One thing that i learnt yest'd is must DARE TO DREAM! Haha.. so i kinda think thru it a lil' while talking w the ppl over there, & here are those that i can think of ..pretty summarized version. =p

My Dreamsssss...
Short-term goals: SOT 2008, A car (Swift Sport? Volkswagen Bettle?), CGL
Medium-term goals: Retire at age of 45-50, financial freedom.
Long-term goals: Able to take parents travel around the world, missionary.

A fren i jus knew frm yest'd said something tt impacted me quite a lot. Being financially free not only can impact 1 generation (us alone) only. It impacts 3 generations. My parents, myself & my future children. =)

Haiz i'm going to seriously think abt wat shld be my next step. Dreams remain dreams if no actions are taken! >_<