Author Topic: A simulation/game meant to teach basics of wise decisions in finances  (Read 1372 times)

mooneneriksamen

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Dear all,
longtime lurkers here, first time posters. We have been working on a lockdown project during Covid - a simulation/game for teaching basics of investment and wise life choices for building net worth. We just thought it would be fun to share the results with the members of this forum:

https://compoundinterest.ddns.net/

Feel free to use in any capacity you like if you enjoy it - one of us is a teacher so plans to give it to some teenagers to have a play around with at the end of this academic year. This is also our first attempt at html/javascript so we are pretty much complete beginners. We are open to any comments/criticism you may have for us.

Thanks and good luck to everyone after a hard year!

ps. we got moderator approval for our post, hope nobody perceives it as spam

henramdrea

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I played with tis a few times with my daughter.  Interesting and informative for kids to watch money fluctuate, see how long they could make a small stash last.

BicycleB

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Hello! American here. Tried the game. I was able to understand the working times, optimize living space and transport, invest savings, and improve my job level. I was able to see the account balances change, and see that they added up together. I didn't know how to determine likely investment returns so I mostly invested in the cheapest option that wasn't a bank account. I could see it had varying returns, which is realistic.

I didn't understand the FIRE instruction (or interface?) in the "Job and Pension" tab. The only option seemed to be a bank that I didn't have money in, and it appeared to only offer a 1% return. Instead, at the age I thought I had enough to retire, I set a negative investment in my investment account. Sorry I didn't understand that part! However, the monthly investment withdrawal worked.

Interestingly, the age at which I thought I reached FIRE was 47, was very close to when I FIRED in real life.

The medical messages very funny. "attack of hirsuteness..." "one day you woke up without a soul. 8000 euro to buy a new one."

The amount of money I had in the game at 47 was enough to cover my expenses of the time at about a 3.7% withdrawal rate. In the game, the variable investment returns were less than that, apparently, and I ran out of money at age 87. Instead of declaring bankruptcy, the game allowed me to resume my career immediately at full pay!

I hope that in my own ongoing FIRE, I manage to keep my soul. :)

Dicey

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Paging my favorite financially savvy teacher, @englishteacheralex.

mooneneriksamen

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Hello! American here. Tried the game. I was able to understand the working times, optimize living space and transport, invest savings, and improve my job level. I was able to see the account balances change, and see that they added up together. I didn't know how to determine likely investment returns so I mostly invested in the cheapest option that wasn't a bank account. I could see it had varying returns, which is realistic.

I didn't understand the FIRE instruction (or interface?) in the "Job and Pension" tab. The only option seemed to be a bank that I didn't have money in, and it appeared to only offer a 1% return. Instead, at the age I thought I had enough to retire, I set a negative investment in my investment account. Sorry I didn't understand that part! However, the monthly investment withdrawal worked.

Interestingly, the age at which I thought I reached FIRE was 47, was very close to when I FIRED in real life.

The medical messages very funny. "attack of hirsuteness..." "one day you woke up without a soul. 8000 euro to buy a new one."

The amount of money I had in the game at 47 was enough to cover my expenses of the time at about a 3.7% withdrawal rate. In the game, the variable investment returns were less than that, apparently, and I ran out of money at age 87. Instead of declaring bankruptcy, the game allowed me to resume my career immediately at full pay!

I hope that in my own ongoing FIRE, I manage to keep my soul. :)

Thanks! Basically, you did exactly what we meant you to - set a negative number in the monthly contribution box. Hitting the FIRE button just stops your job, and the screen that pops up is supposed to just be an example of what to do with your investments. Thanks for your long comment on how the experience was, we'll be able to make that a little clearer for other players :).

partgypsy

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Will be checking this out. Also have a hs senior love for her to check out as well (when finals are over).