It can be a tough choice to make if your pay is just $5,000 - and because there are no penalties for not having life insurance as there are for not owning auto insurance. You have the option to shell out $5,000 in “The Game of Life” on life insurance after your first payday. Owning Life Insurance Can Pay Big Dividends The cost of homeowners insurance is small in comparison with the cost of uninsured disasters. The answer is yes - that is, if you don’t want to pay more later for disasters such as a fire or cyclone.
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Immediately after landing on the space that forces you to buy a house (apparently home ownership isn’t a choice), the next space asks if you want to buy fire insurance for $5,000. You Have To Protect Your House With Insurance You quickly learn that buying auto insurance can save you a lot of money - forgive the pun - down the road.
#The game of life money drivers
Unlike in real life where almost all states require drivers to have a minimum amount of auto coverage, it’s an optional purchase in “The Game of Life.” But if you don’t pay the $500 upfront, you could end up paying as much as $25,000 for an auto collision.
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No Matter How Safe You Think You Are, You Always Need Auto InsuranceĪt the beginning of the game, you have to decide whether you want to buy auto insurance for $500. Women with a bachelor’s degree earn $630,000 more over their lifetimes than those without one. According to the Social Security Administration, men with a bachelor’s degree make $900,000 more in median lifetime earnings than men with only a high school diploma. Over the course of the game, my daughter earned $255,000 more than my husband because she went down the college path.Īlthough a GOBankingRates survey found that 42% of graduates said their college degree wasn’t worth the student debt it created, having a college degree can result in substantially higher earnings over your lifetime. My husband chose the business route, and my daughter was lucky enough to land on the “doctor” space (ironically, I landed on “journalist”). One of the first things you have to decide before you spin the wheel in “The Game of Life” is whether you want to take the shorter route to business and get a salary of $5,000 on each payday or go down the longer college route - which could lead to an income as high as $20,000 if you become a doctor. Going To College Can Pay Off in the Long Run That’s why I prefer the original edition of “The Game of Life.” Find out what great money lessons you can learn from this classic board game. But real life is tough, especially when it comes to financial matters. My 7-year-old claimed he liked the new version of “The Game of Life” we also own better because the classic version is harder. Even my 7-year-old son beat me - which was pretty disappointing because I’m a financial journalist and “The Game of Life” is all about making smart money decisions.Īctually, there’s a lot of chance involved, too, which explains why my economist husband and I both lost to our kids. My 12-year-old daughter actually walked away the winner with more than $800,000 when my family played this classic board game recently. I was a loser in “The Game of Life.” The instructions on the reproduction of the original 1960 board game my family has say, “you too can be a millionaire in this game of life.” But I ended up broke at the “poor farm.” It feels just like real life, so all those things like reputation, career and relationship still counts.16 Genius Money Lessons From ‘The Game of Life But don’t you ever forget that it is your name that is at stake, so don’t you believe you are invincible or anything like that.
#The game of life money Pc
How would you feel about attending college, accepting a job, interacting with other real players and even creating your own family? Play The Game of Life on PC and Mac with BlueStacks and watch your characters come to life and live for real as the years and days go by! Enter the multiplayer mode, with unique matchmaking and a whole new way of playing, or should we say living? Fasten up the flow, or easy it up and do it everything as you please. Who doesn’t deserve a second chance? And by second chance, we are not talking about forgiveness or anything like that, but the opportunity to do things in a different way.