The Game of Money

Just recently, I checked out Robert Kiyosaki's video entitled: Game of Money. It is a very enlightening video about the stages we all have to take in our journey to financial freedom and leads us to answer one basic but crucial question: At which age will you win the game of money?

Let me tackle each of the quarters briefly along with the main points:

1st Quarter (25-35 years old)
You are young and vibrant. You wake up early in the morning and clad in that wonderful corporate look you go to work and give your best shot. Being able to earn on your own, you tend to enjoy life, apply for a credit card, hang out with friends. However, for your finances' sake, it is advisable that:
1. Savings should be your top priority - Not that you will be a just a saver forever, at least you have something to start with.
2. Learn investment options - This is important if you now have family and kids to support with at this age.
3 Get insurance - You can invest it in stocks, mutual funds, real estate, bonds, etc.

2nd Quarter (35-45 years old)
Either you have spent long years with your employer (read: rat race. Congratulations for those exempted!) or you have started searching for your real passion. Fact is, your increased paycheck is in direct proportion to the increased number of expenses. it is also in these periods that most:
1. Plan for your children’s future - You do it by by getting an educational plan or open a time deposit that’s under your children’s name.
2. Make sure you have enough for your emergency bank - good amount would be equal to six months up to 1 year of your monthly income.
3. Have a business - YES!

HALF TIME – Mid-Life Crisis

You are not getting any younger. You feel a slight panic. You begin to think and reassess things. (unless you are rich or don't care about it of course!)

3rd Quarter (45-55 years old)
Allocate much of your income to investment capital – review your investment portfolio and ask if you need to transfer funds to other Investments

4th Quarter (55-65 years old)
Your children are on your own. You are about to or have already retired. Protect your capital – try to preserve your capital so that you can live with on its interest, And make sure to make your last will in order.

OVER TIME

Over Time – Kiyosaki referred after the 4th quarter as over time. If you haven’t had any accomplished things when it comes to your financial future, then that would be a great problem because sooner or later you would be “out of time” and the game of money will be “game over”.

GAME OVER

Kiyosaki retired at the age of 47. Like what he and the rest of the successful millionaires of his (and our) generation, I also want to life a great life and achieve TIME AND MONEY FREEDOM. The good thing is, it is within reach for anybody who wants to achieve it now that we are in the information age.

I will not wait for me to turn 25. The time is now.

How about you? At which age will you win the game of money?