The HBO smash series, Game of Thrones, is a medieval soap opera featuring dragons and knights and zombies, but our Moneyman – Certified Financial Planner Paul Fain – says the story has plenty of analogies to valuable financial lessons, this week on WBIR.
PAUL, THIS SHOULD BE FUN, WHAT IS YOUR #1 FINANCIAL LESSON FROM GAME OF THRONES?
- “You know nothing Jon Snow.” – Ygritte, one of the nomadic tribe of wildings constantly prods the hero, Jon Snow.
- Financial Lesson: Don’t kid yourself, the future is unknowable. Investors don’t know what they don’t know. Ex: you can’t consistently predict the market’s direction.
ONE OF THE CONSTANT THEMES OF THE SHOW IS “WINTER IS COMING.” IS THERE A LESSON IN THAT MOTTO?
- “Winter is coming.” — The motto of House Stark who live in the Northern part of the Seven Kingdoms.
- Financial Lesson: Be prepared for the worst. There can be long seasons of challenge (job loss, illness, etc.). It’s vital to have emergency savings and insurance.
ONE OF THE MOST HATED FAMILIES ON THE SHOW, THE LANNISTERS, ACTUALLY TEACH US A VALUABLE LESSON ABOUT DEBT…
- “A Lannister always pays his debts.” — The Lannisters use debt as powerful leverage (to build an army).
- Financial Lesson: Good credit is a powerful tool. Ex: to buy a house or a car on favorable terms. Always pay on time and never borrow more than you can really afford. Avoid high interest debt.
WHAT FINANCIAL LESSONS CAN WE LEARN FROM THE UPSTART QUEEN, DAENERSY TARGERYEN?
- Don’t let financial setbacks stop you. – The ‘Mother of Dragons’ always comes bouncing back.
- Financial Lesson: Seek good advice. Have a solid plan. Work hard. Be patient.
FAST MARKET FACT: Supply and demand doesn’t always make sense!
OREO, Game of Thrones Limited Edition:
- Krogers: $2.99
- eBay: $11.99
QUESTION FOR OUR MONEYMAN?
Send them to Paul@assetplanningcorp.com!
You can also reach Paul by using the contact page on APC’s website.
