Let’s be honest, winning the game of Monopoly requires a little bit of luck – for example, landing on unowned property and avoiding properties already owned by your opponent.
But, in truth, the key to winning this game is making the most of your luck by applying certain rules – such as buying as much property as possible, not spending all your cash (having some savings) and negotiating to get a full set as soon as you can.
Building wealth is no different. You can win at the game of building personal wealth by applying a set of proven rules.
The 8 Golden Rules
The golden rules, created by the author Stuart Wemyss, explained in Investopoly have been formulated and refined over two decades of practice, observation and experience. They are not just theory. They are tested, are rooted in simple math, logic, supported by historic evidence and have been proven to work. What’s more, they are easy to understand – all written in plain English. Here are the rules of the investment game:
Golden Rule # 1 – Always think long term
Golden Rule # 2 – Set two important goals: how much income you need and by when
Golden Rule # 3 – Spend less than you earn and invest the difference regularly
Golden Rule # 4 – Grow your asset base first and then concentrate on income second
Golden Rule # 5 – Strategically set your asset allocation to reduce risk and maximise returns
Golden Rule # 6 – Invest in the share market using a low-cost, passive investment method
Golden Rule # 7 – Only invest in property that is deemed ‘investment-grade’
Golden Rule # 8 – Protect your investment strategy from expected and unexpected risks
Once you understand these rules, it will be very simple to map out a financial plan for yourself and your family and work out what to do next. To find out more visit www.investopoly.com.au. To buy your copy today, follow the links below.
Published in April 2018.
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