Snakes & Ladders
Do you remember playing the board game Snakes & Ladders as a kid?
As you play you advance forward steadily towards the finish, turn after turn. Sometimes you land on a ladder, and get to jump ahead 2, 3 or 4 rows.
But sometimes you land on a snake, and then you slide backwards even further. All of those steady gains wiped out, in an instant!
In fact, the phrase “back to square one” originated from the troublesome snakes in that game.
If it wasn’t for the snakes the game would be super easy, in fact it would be no challenge at all. The number of ladders you land on would determine how fast you finish the game, but you’d always finish pretty quickly.
Building your wealth is a lot like a
game of Snakes & Ladders.
Regular turns in the game represent incremental steps that you take: contributing to your super, paying down your home loan, saving for an investment.
Well-chosen leveraged investments, like buying property, are the ladders when it comes to building wealth.
A wise property investment will jump you ahead in the game of building wealth.
In fact, without a few “ladders” it’s nearly impossible to win the game – at least in the time you have left before you retire and stop earning an income.
You simply have to make some wise investments in leveraged assets like property if you ever want to be wealthy.
But then there are the “snakes” in the game…
Bad investments will take you backwards in the wealth building game. In fact, you can slide backwards even further than square one. Yikes!
But building wealth is not like “Snakes & Ladders” in one important way”: it’s not based on luck.
You get to choose whether you land on a snake or a ladder. You just need to be able to tell them apart.
This is where being part of the right community really helps you win the game.
I’ve often said that you’re more likely to succeed as an entrepreneur when you’re part of a community. When you learn from others with different knowledge & experience and when you work with people with complementary skills, then your business is destined for huge success.
Building wealth is just the same.
The right community of investors will guide you to avoid the snakes and choose ladders instead.