We can learn a ton from the game that sapped our phone batteries with regards to financial management of your money in stock investments: having an early start to investing, following a diversification strategy and curbing your emotions. Read on to find out more!
The earlier you start investing your money, the bigger your retirement nest grows.
In Pokemon Go, the higher your level is, the greater achievements you are able to unlock ie. Ultra Balls at Level 20 and catching higher-level Pokemon.
The magic of compounding can be realised when you put aside a small amount every month, starting from your first pay cheque. An article published by The Business Times placed the average amount of savings by young Singaporeans to be at $800 a month.
Learning to invest your money does not require a big change, but what it requires is some sort of change.
Possibly not the type of huge change that Nintendo saw in the need to start focusing its attention on the mobile gaming industry, but a series of small steps that could be incorporated in your routine.
Just as how you would check a cheat-app (Pokemon Go maps showing Pokemons in the vicinity) before using the official Pokemon Go app, spending some time to read investment tips before bedtime would go a long way in changing the way you perceive money and the role it plays in your life.
Diversification is one of the best ways to go.
In the investment of stocks, following a diversification is possibly the safest way to grow your portfolio, especially when you do not have much time or do not wish to monitor the financial markets often.
Not too many Pokemon trainers I know would want to keep catching pidgeys and rattatas (unless they are looking to level up quickly with the help of a Lucky Egg). It is obvious that most people want to catch the rarer Pokemons, or have a decent portfolio of high-level Pokemons when it comes to gym battles.
In Pokemon Go, the game automatically chooses the set of 6 Pokemon to fight at a gym though this can be changed manually.
The game selects the set of Pokemon creatures best suited to expose the opponent’s weaknesses. Thus, having too many Eggxecutors will result in decimation in the hands of a Arcacine.
Getting too emotional
Pokemon Go is a game and no doubt, it’s exciting especially when you get an Aerodactyl after successfully hatching a 10km egg!
But what happens if you get a Gyarados with the uber-useless special attack of Twister after spending countless hours at Vivocity catching Magikarps?
Probably a few moments of cursing under your breath or taking a screenshot of the Gyarados and sending it to your friends would ensue.
What happens after that? The game goes on (although there’s a high chance you’ll start looking to catch other Pokemon).
When a bad trade occurs, it is often easier said than done to just forget about the trade. What it requires is an extra oomph that comes in the form of experience and a positive mindset. Of course, you need to have a sound strategy with written rules that you stick to religiously.
As the hype of Pokemon Go wears down in the coming weeks, the time freed up from playing the game could be channelled to starting your investment journey early.
While you may not get rich quick (workshops or seminars promoting a get-rich-quick ultimate strategy are scam!), at least you will be able to rest better at night, knowing that you got tomorrow covered with a hidden pot of gold at your end of the rainbow.
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