Sunday, April 29, 2012

Hobbies - Simulations



Part of being a Military Millionaire is figuring out what to do with your spare time.  A trend that I have noticed over the years is many wealthy people love their job.  Warren Buffett says he tap dances to work every day.  If you don’t love your day job then do something that you love in your spare time.  Don’t spend your whole life watching other people live their lives.  This means curb your time watching sports, TV and movies.  Unless you plan on being a critic, news caster, or sports announcer, watching and learning about sports figures probably won't help you become wealthy.

In my opinion it is much more beneficial playing video games than sitting and watching TV or a movie.  Why?  First of all video games helps refine your hand eye coordination.  Second, it may require you to read.  Third, many of them can develop skills without risk of failure.  First person shooters probably aren’t the best of video games since they typically are games that do not require you to read.  Not that they are not fun, but the benefits are reduced.

Video games can be one of the best learning tools available…Simulation.  Using simulation is almost like doing the real thing.  If you look at Edgar Dale’s Cone of Learning it falls under the say and do category.  When developing training this should be the goal.  Simulating, teaching others, doing the real thing.  Don't believe that video games or simulation works?  The military spends billions of dollars each year developing simulations for their major weapon systems.  I'm sure if you ask any pilot...simulations work!  Pilots spend countless hours pretending to fly under different scenarios.  The Army uses simulation to rehearse war time situations.  When the real thing occurs...everyone has done it before, and knows what to expect.

By simulating you do not have to worry about making mistakes.  You are better off crashing a plane in a simulator, then the actual air craft.  This saves tax payers lots of money.  This is the same with business, and many other areas in life.
Probably one of the best business simulators of all time in my opinion is the video game (simulation) Capitalism 2.  Stanford and Harvard Business have used this game in their classroom.  Good enough for Harvard…good enough for me.

This game teaches you business fundamentals.  The game is very complex.  Has everything from balance sheets, income statements, marketing, real estate, manufacturing, farming, mining and much more.  This game shows you PE ratios, dividends, market capitalization, and percentage of ownership that can play a role in corporate mergers (most which are hostile).  You can perform something similar to poison pills to avoid a hostile merger.

As hard as it might be to believe...the information age is changing the way we think and use money.  A rather unusual company created a very unique product called Bitcoin.  Take a look at what it is, and see if you can understand what the Bitcoin is about.

If you are not into games...you might be at a major disadvantage in the next 10 to 20 years.  Games like World of Warcraft (WoW) and Ever Quest are much more than an addicting game that helps ruin marriages and relationships.  These games have all sorts of interesting areas that deal with...commerce, economics, community, diversity, marketing, and currency to name a few.

Some people successfully are able to play this game, and make money doing it.  Check out this article that talks about how to make money playing WoW.  The world is changing...and I think many people are not prepared for what lies ahead.  My goal is to hopefully educate the good military and civilian people so that you don't get taken advantage today, and in the future.

How am I studying for the CPA exam?  You got it!  Simulation!  This type of simulation isn't very fun.  However, being fun does not always equate to learning.  When I went to take my CPA exam, I knew what to expect.  I was ready.  Whether I passed is different question.  I will know by May 8th.

A few other games that steer toward simulation are the following:

Harvest Moon - Farming, puzzle solving (has many versions…probably would want to play a more recent one)
SimCity 4 – Management
Age of Empires 3 – Management, strategy
Civilization V - History, strategy
The Elder Scrolls V Skyrim -  Medieval times, puzzle solving
The Oregon Trail - History, decision making, survival
Fallout New Vegas - Post nuclear simulation
Gran Turismo 5 - Driving Simulation (play using manual shift only)
Space Quest and Hero's Quest Series by Sierra - These games are really old, but they were great.

Let me know if you have heard of or played these simulations…try them out.  Leave your comments regarding this topic.

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