I hear the collective gasp from all of my finance junkie friends. I don’t need an intervention cause we aren’t going to stop our 401k contributions.
When you look at the Ben and Arthur charts, a couple of things stand out. Even the slacker Arthur started maxing out a regular contribution at a relatively young age. I don’t know about you, but when I was 27, I was broke and clueless. And an 18 year old maxing out IRA contributions? I’m skeptical. (Read this article by Dave Ramsey and scroll down to see the Ben and Arthur charts.)
Since it’s the classic investment teaching tool in Financial Peace University, you look at it and think – okay better late than never right? You start saving as much as you can. Your results are reported as annual percent growth and most of us are hoping we’ll hit 12% a year. I’m not going to quit but I also want an additional way to work towards financial independence that doesn’t twist and turn in the wind.
The model of the Money Game is active and isn’t dependent on fixed periods of time. If you can figure out how to level up more than once a month, (I’ve done it 119 times in six weeks) you just do it! It depends on you, your creativity, your initiative, your salesmenship, your attention to detail and your own hard work. It also depends on your own money which you roll over every time you increase it by 5%. And I’d argue that it will thrive on your sense of fun and joy of the game.
I thought I could probably find one or two hundred dollars the first month and I would have been very happy with that. That would have been a huge increase in our bank balance over the intital $5. What actually happened was a bigger increase than I could have imagined. Track your own and see how it works for you.
I won’t be online much over the holiday weekend. I did a small power-up yesterday and today. Since the holiday is approaching, I’m just waiting for this small amount of money to accumulate before reporting it. I spent over an hour talking to our insurance agent today and was shocked at the difference in the two quotes I’ve received so far. The last two days have been more work and less play with not as much to show for it. I just want you to know that I’m still in the game even though it’s Labor Day weekend. Have a great holiday!
Level Completed: 119 out of 251
Amount Deposited This Month: $0
Total Balance: $1,724.63
Our Money Game fund has increased 0% so far this month.
Have fun, grow money and level up!