Leveraging Your Assets In Times Of Change
Last Sunday afternoon a rite of passage occurred at my home. I taught my younger daughter how to play Monopoly. I learned the game at an early age and played it frequently throughout my youth. The board game is such a recognizable part of our culture and for many people, is their first formal exposure to spending, saving and investing.
As the game progressed I did not want to confuse her too much with strategy, but instead let things simply unfold. Sydney had accumulated 2 extremely valuable groups of property and a significant amount of cash. Being the seasoned veteran, I had very little cash because I was investing in as many houses as possible in the hopes she would soon land on one of my properties. And yes, she did.
Her interest in the game strongly waned as her pile of cash was depleted. I took this teachable moment to remind her again to invest that money in houses and hotels so she could regain the monetary upper hand. She invested a little, but it was too late. Landing on New York Avenue one more time wiped her out.
My daughter's reluctance to leverage her financial assets to improve her situation reminds me of how many people approach change. They are so happy with their accumulation of comfort that they aren't willing to give it up for something even more beneficial-security. Yes, it can be scary to live on the edge, but the edge is where real life happens.
Where do you need to invest more of your assets in your journey to achieve better results?