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.” Auto insurance costs $10,000, but the homeowner’s insurance policies depend on the home that you own.16 Genius Money Lessons From ‘The Game of Life These policies will offer some protection for your home or car (depending on which one you buy) in case of an accident. You may choose to purchase an insurance policy at the beginning of one of your turns. How much is auto insurance in game of life? “Share the Wealth” cards If a player landed on a space where money was collected from the bank, or received a Pay Day, an opponent with a Collect card could steal half the collected money from that player. BUT, going to college is a good choice because you get a lot more money from the paydays if you go to collage compared to what you get from getting to retirement first and not going to collage. Should you go to college in the game of life? Note that having a tornado doesn’t make you get rid of your house, you just have to pay to “repair” it. So if your house was burglarized or destroyed by a tornado, you still have to pay the money. So if your house was burglarized or destroyed by a tornado, you still have to pay the money.ĭo you have to buy a house in game of life? In the second path, the player gets 3 random career cards and gets to choose one, including some exclusive to this path.įrom Hasboro’s rules for LIFE: BUYING A HOUSE When you reach this space, stop –even if you have moves left. In the first path, the player gets a random career card that gives him a job. How do I choose a career in the game of life?Īt the beginning of the game, the player must choose between the “career” path and the “college” path. You would not loose your house and then at the end of the game, you can sell your house and have a guaranteed money coming back. How much do you get per kid in the game of life?ĭo you sell your house at the end of life game?
The game of life money professional#
The careers are: Singer, Secret Agent, Veterinarian, Teacher, Doctor, Professional Athlete, Scientist, Fashion Designer, Lawyer, Inventor, Chef, Race Car Driver, Dancer, Police Officer, Firefighter and the top pick, Video Game Designer.