There ain't no such thing as a free lunch

Like I mentioned in my last post, I recently picked up a book titled Rich Dad Poor Dad by supposed real estate guru, Robert Kiyosaki. In the book, he explains how most people are educated in terms of professional knowledge but have very little financial IQ. He also explains that he wishes to educate people on how to develop their inner "financial genius" as a means to easy living. Robert, through his company, Cashflow Technologies, Inc., has created several products that he believes will help the masses attain a level of financial freedom. Among these are numerous books, seminars, live DVDs and a coaching program to boot. Most intriguing to me however, are his line of board games, called Cashflow. He has two version; Cashflow 101 (for beginners looking to learn more about investing in stocks and real estate), and Cashflow 202 (a more advanced version that deals with the technical aspects of investing). I recently obtained a copy of Cashflow 101, and to be honest, I wasn't too impressed. After playing through it a few times, I realized that I had expected a lot more, and so was disappointed a bit.

The first thing I noticed about his two games are that they cost quite a bit more than you might expect for a board game; Cashflow 101 (the board game) is $195 whereas the electronic copy is half that price. Cashflow 202 (played as an add-on or expansion of 101) is still pricey at $50. However, Robert Kiyosaki explains away the high price by saying they produce only a limited amount each year. Still, I found the high price unattractive and a possible point of contention for many prospective customers.

The version I recently obtained was the electronic version, and it wasn't quite what I expected. First off, it's huge! Its bigger than 1 gigabyte, which isn't actually TOO TOO MUCH, but considering its just a board game (presumably not a graphics-intensive one - and it isn't)... =(. Secondly, the "pieces" in the electronic version are represented by 3D walking and talking mice. Kind of cute at first, but it soon gets annoying, especially with all stupid sound effects. Also, when playing the game, the cards you pick up (from rolling the dice and landing on either "opportunity", "doodad", "market", "downsized" or "baby", are often very similar. Especially the "opportunity" cards. After playing the game 3 times, I am almost sure I have picked up every opportunity card possible; perhaps a half-dozen different stocks and maybe 5 to 10 properties? I keep finding myself getting the 3BR/2BA card; every single time! Also, the game finishes pretty fast. The site says that a game takes 1 hour to 3 hours to finish, but playing against 3 computer players, I beat the game in maybe 25 minutes! Another point I'd like to make is that although the game does introduce the novice investor to certain concepts - such as buying stocks low, and selling high, as well as the emphasized purchasing of real estate and consequently renting out the property to pay for the mortgage costs - it really isn't too helpful. Sure, it shows us how to purchase and rent out properties but it misses the most important step; finding those cheap foreclosure properties! It also doesn't go into the finer details of hiring a "property manager" to take care of your property either. Lastly, this game isn't very realistic at all. First off, it forces you to buy "doodads" - perks and rewards for yourself that, if you were serious about investing for your future, you'd forgo anyways. Secondly, all the rent generated from properties is enough to cover the mortgage payments, with a little left over. This is nice in theory, but it is extremely rare these days to find a property where, after paying the down payment, the rent money will exceed the mortgage payments. Thirdly, the game can be beaten quickly if you abuse the stocks. When you draw a stock opportunity card, it conveniently shows you the price range, so you know if you're buying high or low. You don't actually need to do any work and or research to find out whether the stock will go up or down; you just wait for it to go up!

With all these detriments to Cashflow, I must in all fairness say that it was an interesting game that has some merit. It introduces the player to the concept of an income statement and a balance sheet; key pillars of accounting and bookkeeping. It also forces the player to manually remove or add items to these two charts. After a couple times through, you get used to recognizing what goes in your income, expenses, assets and liabilities columns, something that is actually useful to know in the real world.

Personally I think I would have been fine without playing this game, but if you've got the dough (and maybe someone who wants to get started in basic investing and accounting) you might find it a good investment (haha) to purchase this game. Although the E-version is cheaper (half as much as the board game!), I'm sure it has been stripped down a lot. Add to that the fact that the board game is playable with friends, I would definitely go for the real deal.

kamster

Happy Belated...

CHRISTMAS (wow that took a long time to write switching colors => LOL! =D)
Well Christmas is once again come and gone and I hope we are all much happier because of it. For me, this christmas season has been well spent with my family and cousins from far-away Singapore, chillin with friends, riding to my sore body's content and just taking in the sights of exotic Chicago. I also got to visit my good friend who I have not seen since he moved last year. All's well I suppose, and I am quite satisfied with the relationships enjoyed and (relatively) cheap consumer goods purchased this year. I've also noted a few things:

• Hotwire is a relatively hassle-free way of booking hotels that can often give good discounts
• I love movies! I really enjoyed watching I Am Legend, Eagle Eye and The Dark Knight (for the ???th time) this past week.
• I love webcams! Err........ yeah!
• I think I have a pinched nerve... whenever I walk I feel this weird pain in my right leg, sort of like a piercing stabbing pain, so not something I would associate with a bruised kneecap or something. Anyone ever had this before? I can walk properly if I don't twist my leg when I take a step... other than that, ow.
• Chicago is way bigger than T.O.
• Minivans are cool again! We rented a recent-year Grand Caravan for our road trip and it turned out to be large enough for a group of seven, all adults over five feet tall. I think. Stow and Go storage is great too.
• Although shopping for last-minute deals in the states are fun, they aren't as cheap as they once were - a loonie is only worth seventy cents in the U.S. ='(
• A book called Rich Dad Poor Dad by Robert Kiyosaki has had me completely engrossed these past two days. I've only just picked it up and already I am excited. Apparently this book on developing your "financial freedome" has been on the New York Times best-sellers list for six years, and I've only just heard of it *slaps forehead*. I need to get cracking!
• Some other stuff I can't remember.

Anyways, Happy Holidays to everyone out there and enjoy the rest of the Winter Break (if you have one 8D)!

kamster

Red tape getting you down?

To be honest, I really don't like being held back by innumerable layers of red tape just to get some information; having to verify, login, clarify, and prove your eligibility just to get your hands on a bit of information. And these annoying restrictions apply to everything, even when looking up an prison inmate's information! Do you need to contact a family member? Get some info on a prospective person of interest? Red tape need not hold you back with the Colorado Inmate Locator. This is site where you can look up inmates by first name, middle initial, approximate age, last name, city, or even state! This quick and easy online database allows you to quickly and legally find information on upwards of 250 million inmates, with the last growing every day! Visit the Prison Inmate Locator and find who you're looking for today.

kamster

Ski Heaven

The Peak to Peak Gondola at Whistler-Blackcomb is opening soon! I sort of want to say I'm excited (and then launch into a long rant about all it's features and stuff for the sake of blogging), but I shan't as I know I probably won't get a chance to experience the thrill of being suspended 400 metres above the frozen ground in the middle of Winter. I can say though that this new express gondola will be one that makes history, as it breaks two records, I think one for longest unsupported lift length in the world, and also the highest lift of it's kind as well.

Sort of reminds me of the express at Tremblant, which is really cool too. One time after a long day of riding, I went up a last time with my pop and my friend, but when I reached the 900 metre high peak after ten minutes of sitting in frosty silence, I realized I didn't have it in me to even begin the half-hour long (Yes I was and still am quite a n00b) descent. So I rode back down, alone with my thoughts of a hot cup of cider warming my hands at the chalet. And so it was a frosty Christmas season =D

kamster

What goes around...

ONE HUNDREDTH POST!!!

Thank you all who have stayed with me these years and faithfully visited Up the Ante, never losing faith in my abilities to impress and amaze. Thank you to all who continued to check back through the times of infrequent posting and when I started blabbering on. Thank you to all who donated money and time to my cause and -

Ok no. What am I, Sarah Palin? Or something? PALIN FOR PRESIDENT YEAAA. Haha but she is dead and over, the inauguration is coming up!

And so is Christmas. For some reason, Chrismas music gets me really down... especially like, Kenny G. He is really talented but his musing tunes are just too much. Although I know I should be really happy too. Christmas is that time of year when I should be looking foward to the next year, looking forward to giving and recieving heartfelt tokens of love and gratitude, and maybe a warm cup of hot chocolate. I still have lots of holiday shopping left to do, although I can take comfort in the fact that we have no such Black Fridays here in Canada... at least not the extent that they exist in America (although retailers have been trying to create such a day here for years now). Anyways, my tip for all you... students out there: buy Second Cup hot chocolate for your buddies this year. I know, you're probably thinking I'm one of those crazy dudes who loves to stand in Second Cup and admire their sexy and pricy stuff like mugs and crap which is really expensive just because of the name. But no. I just love how those little cyclinders of packaged hot chocolate mix are so cute and they come in four flavours, too, only $7.95!

I think I'll buy some tea too.

kamster