Have you ever played pool? Maybe you are like me, someone who has never tried it, or perhaps you are a good player in this game. That’s okay. At least I have watched people play more than once, and something interesting stuck in my mind “the black ball”. VIDEO: Building wealth with purpose – The Money Coach’s global mission In pool, there is a black ball that should only be shot after finishing all the other balls. When it is shot successfully, you become the winner. However, if you shoot it before clearing your balls, you become the loser of the game. Thus, success in this game depends not only on skillful shots but also on smart positioning, tactical foresight, and cautious play to avoid hitting the black ball before the intended time. ALSO READ: Seven money moves every Rwandan should make for a better life Life also requires skill and strategy, just like playing pool. The black ball can represent your job, your family, your business, your health, you name it. If you handle your job seriously and cautiously, you will grow in your career and be rewarded for your hard work. You need to know how to maneuver this black ball because one bad shot could mean the end of the game, with no second chance — such as losing your job. The black ball can also be your food or drink, which can either make you healthy or leave you suffering from obesity or diabetes. That is why you need to maintain a balanced diet. While food and drinks help our body and brain to function well, a careless choice, like a bad shot, can ruin your life if not taken consciously and cautiously. ALSO READ: Let us talk about alcohol, writes First Lady Jeannette Kagame Not long ago, I heard the story of a man who owned a car. One day, the engine stopped functioning. Before it failed completely, a strange sound was heard, it was an engine knock. That turned out to be a huge loss! It cost him three million Rwandan francs, an amount that would take at least 10 months to save, if he put aside three hundred thousand per month. This unexpected expense had to be covered urgently just to get the car back on the road. The engine in a car is like the black ball. It must be maintained and carefully handled because even a slight mistake can cause a terrible loss. In the business world, the little money you have for investing can grow significantly if things turn out as expected. You will make profits and be able to reinvest further. That is the reward of taking risks when the “coin flip” lands on heads (success). But remember the reality described by Morgan Housel: “Luck and risk are siblings. They are both the reality that every outcome in life is guided by forces other than individual effort.” When the coin flip lands on tails (failure), you may lose all the money you had whether little or much. Therefore, be careful when dealing with your “black ball,” the money you are counting on for your life. This aligns with the old adage, “Don’t put all your eggs in one basket,” attributed to Miguel de Cervantes, the Spanish writer of Don Quixote. It would be a big mistake to take all the money you have worked hard for and invest it in a single business or asset. That creates enormous exposure, and if that venture fails, you could lose everything. COVID-19 was a good teacher. Many businesses that relied on day-to-day customer interactions stopped operating and went bankrupt. Assets lost value; if you had invested only in land and lacked liquidity (cash), you might have been forced to sell it at the cheapest price just to pay rent, school fees, buy food, or cover medical bills. When dealing with the black ball, remember that time will not always be in your favor, and today’s rain may turn into tomorrow’s drought. Always consider that bad times can come before deciding where and how much to invest. And always keep some money in reserve to rescue you when everything falls apart. But more importantly, as much as we recognize the black ball in our lives today, we should handle it diligently and cautiously so that we do not regret it later. Otherwise, the burden of regret will be carried throughout time. Therefore, live your life with positivity, invest more but with thorough analysis, and stay informed about profitable opportunities. Do not put all your money into one type of investment; rather, diversify your portfolio. Remember that wealth is not only about money but also about resilience, patience, and the ability to make informed choices. Success is built step by step, balancing ambition with caution, optimism with realism, and vision with discipline. By embracing knowledge, learning from failure, and respecting risk, you create a stronger foundation for a secure and fulfilling financial future. Always know your black ball. The author is a senior economist at National Bank of Rwanda.
