3 games aim to teach you to invest, plan and talk about money

Investment companies and advisers are experimenting with the games to help them win clients.
APR 07, 2014
It is famously difficult for people to wrap their minds around complicated financial concepts, especially the idea that the market is random, and the idea that your emotions play much more of a role in your management of money than you realize. As Jack Bogle said recently in a speech, the urge to speculate has probably been with us forever. See Jack Bogle's warnings for investors Investment companies and advisers are adopting gaming tools to help them spark conversations and win more clients. But you can use them on your own — these three are free, and may help make learning about investing fun, more interesting, or they may lead to more conversations in your household about money and investing. The Money Mind Analyzer is a question-and-answer game to help couples determine whether each partner's financial life is driven by fear, happiness or a desire for commitment. Fidelity Labs' “Beat the Benchmark” rewards you with "cash" to invest for correctly answering questions about investing. Another game, FlexScore works by generating a numerical score that reflects a consumer's financial health. Measured on a scale of 1 to 1,000, the tool — billed as “financial advice for the rest of us” — calculates investments, savings, debts, future goals and related expenses. Users get more points based on “action steps” taken to boost their score along with a visual display of how harmful financial decisions can decrease their score.

Latest News

The power of cultivating personal connections
The power of cultivating personal connections

Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.

A variety of succession options
A variety of succession options

Whichever path you go down, act now while you're still in control.

'I’ll never recommend bitcoin,' advisor insists
'I’ll never recommend bitcoin,' advisor insists

Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.

LPL raises target for advisors’ bonuses for first time in a decade
LPL raises target for advisors’ bonuses for first time in a decade

“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.

What do older Americans have to say about long-term care?
What do older Americans have to say about long-term care?

Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.

SPONSORED The future of prospecting: Say goodbye to cold calls and hello to smart connections

Streamline your outreach with Aidentified's AI-driven solutions

SPONSORED A bumpy start to autumn but more positives ahead

This season’s market volatility: Positioning for rate relief, income growth and the AI rebound