AZBIZ.COM

Playing with finances, learning to build wealth

By Joe Pangburn
Inside Tucson Business
Published on Friday, October 19, 2007



In Monopoly it is so easy to build wealth. Buy land, build hotels – make a fortune. But, games don’t translate into the real world. Or do they?

The new Millionaire Maker Game, inspired by wealth strategist Loral Langemeier, was designed to translate into the real world. The game focuses on teaching serious players how to be successful in everything from owning a business, buying real estate building assets in business and even own parts of oil wells. The more people play, the more they learn.

The board game is based on "The Millionaire Maker: Act, Think, and Make Money the Way the Wealthy Do," the first book in the Millionaire Maker series by Langemeier.

"Who doesn’t want to be a millionaire," Langemeier said. "Now anyone can using the same techniques in the game that I have used in business to help hundreds of my clients become millionaires in as little as three to five years."

Players of the Millionaire maker game are cast into the life of an entrepreneur where big deals are made daily. Players can lose everything or live the life of luxury based on the choices they make.

"It takes Teamwork to live a millionaire lifestyle and by playing as a group, participants learn to build their wealth together," Langemeier said.

By rolling dice, choosing cards and participating in the foundational building blocks that create a "Wealth Cycle," players have 60 minutes to make the best, strategic business decisions they can to end up with the highest net worth.

Chris Burford of DreamLife Games LLC, makers of the Millionaire Maker Game, said the game application is key to learning the material.

"You get emotionally involved in a game," Burford said. "All your senses get involved, making the transfer from the game to real life easier."

Burford agreed business/money games aren’t anything new.

"Monopoly taught us to buy assets and have other people use them," he said. "It taught business in a very simplistic fashion. This is a little more sophisticated."

Still the Millionaire Maker Game is not the first game moving to a higher level of sophistication.

Robert Kiyosaki, author of the Rich Dad, Poor Dad series of books, and numerous others, released his version of game learning about the real world called CashFlow 101, in February 2004 based off his bestsellers, "Rich Dad, Poor Dad" and "Cashflow Quadrant."

Kiyosaki says the idea of creating wealth by building assets (by having a home, car, clothes and jewelry) is a myth and one simple shift in your thinking can change your financial life. The shift is to stop thinking of being wealthy as making more money, but becoming wealthy is making your assets work harder for you so you don’t have to.

Financial educators like Carolita Oliveros use these games for their students to learn the principles found in the books.

Oliveros taught at the McGuire Center for Entrepreneurship and currently teaches for Pima Community College. She has been using CashFlow 101 since it came out.

"These types of games are a simulation of real life," she said. "It is like paper trading before investing in the stock market. This is the appropriate tool to learn and understand how the business and financial worlds work before you go out and jump in."

Oliveros said it is a joy to be playing a game and everything comes together for a student and he or she finally gets it.

"I call it the ‘ah ha moment,’" she said. "You can see it in their eyes."

While there are balance sheets provided in both games, players can fill out their own with their personal financial data and play with that. "That is when people can really make it real for themselves," Oliveros said.

Oliveros is excited to get a copy of Langemeier’s Millionaire Maker Game and look at the potential for using it in the classroom.

"The two have different focuses though," Oliveros said. "[Langemeier’s] is more about gaining more wealth, and [Kiyosaki’s] is about making what you already have work smarter for you. It is ultimately up to what someone is looking for."

 

Contact Joe Pangburn at jpangburn@azbiz.com or at (520) 295-4259.