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Are You Playing the Get Rich or Stay Rich Game?

Key Takeaways

  • It’s important to know what game you’re playing in life.
  • If you don’t know the game, you can’t know what rules to follow.
  • When it comes to your money, you’re either playing the Get Rich game or the Stay Rich game.

If you’re an entrepreneur, you have a lot of freedoms in your life. You can set the rules as you like (within reason, of course). And if you’re setting your own rules, that means you know what game you’re playing, right?

If you don’t know what game you’re playing, you might be playing someone else’s game. Or you might be playing a game you don’t want to play, but you find out about it too late. It’s important to know what game you’re playing in life so you know what the rules are.

What’s all this getting at? Well, simply stated, when it comes to your money, you’re either playing the Get Rich game or the Stay Rich game.

If you’re playing the Get Rich game, you have to keep working. You don’t have enough money to stop collecting income through work. Depending on whether you work for an employer, work as part of the gig economy, or run your own business, you’ll be following the rules that go along with that work.

If you’re playing the Stay Rich game, you have enough money to cover all your bills without working, and there’s an inflation factor built in, so you don’t have to worry about running out of money before you die.

There are different sets of rules that come with these games. In the Get Rich game, you want your money to grow and you’re willing to take a little risk to build that money. In the Stay Rich game, you don’t want to have as much risk in the stock market or bond market, because if it goes down dramatically and you need income, that could be a real problem.

So, figure out which game you’re playing, then make sure you learn the rules. It’s your money and your life – make sure you have clarity on where you stand so you know how to move forward. Until next time, enjoy.

Gary

If you’d like to read more on this topic, here are a few of our past Coyle Blog posts that you might enjoy:

Which game are you playing with your money?

A Question: Are you playing a finite or infinite game?

 


 

Gary Klaben serves as a Financial Advisor, and visionary for Coyle Financial Counsel. He has over 30 years of experience and is the author of Changing the Conversation, Wealth of Everything and co-author of The Business BattlefieldWhether advising his clients, mentoring his team, or coaching entrepreneurs, he is always simplifying complexity and motivating others to take the next action that’s right for them.

Learn more about The Coyle Process, approach designed to get your arms around the big picture, so you can make informed financial decisions. Ask Gary about The Coyle Process and schedule a complimentary consultation and start living the Good Life Managed Well™.

www.coylefinancial.com
847-441-5644 | coyle@coylefinancial.com 

We value your comments and opinions, but due to regulatory restrictions, we cannot accept comments directly onto our blog.  We welcome your comments via e-mail and look forward to hearing from you. 

All information is from sources deemed reliable, but no warranty is made to its accuracy or completeness.   This material is being provided for informational or educational purposes only, and does not take into account the investment objectives or financial situation of any client or prospective client.  The information is not intended as investment advice, and is not a recommendation to buy, sell, or invest in any particular investment or market segment.  Those seeking information regarding their particular investment needs should contact a financial professional.  Coyle, our employees, or our clients, may or may not be invested in any individual securities or market segments discussed in this material.  The opinions expressed were current as of the date of posting but are subject to change without notice due to market, political, or economic conditions. All investments involve risk, including loss of principal.  Past performance is not a guarantee of future results.

Copyright © 2022 Coyle Financial Counsel.  All rights reserved.

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