What is your motivation to make more money?
 

I was having this thought. I'm 23 next month. Most of my day is spent thinking about how to make more money or doing an activity to make money (online poker). Some might say how sad. But I enjoy many other things, sports, tv, family, friends. However, ultimately on my 30th birthday (myself and a friend set that target) to have a very nice house, be able to go on nice holidays, and never have to worry about money, and maybe, if I get fooled, get a wife (I do not find relationship appealing, I don't want my time or happiness dependent on another, anyway, leave that for another forum).

Just wondering what is your motivation? I guess it's becuase, as is often said, people relish the challenge of making more. Whether you have $0.1M, $1M, $10M or $100M, you always want to strive for more, it's what keeps the evolution process going.

Just wondering if anyone else here has general targets though i.e. what they want to do with their money. I can't see what else there is massively other than an incredible home(s). I guess have a very good relationship with the family, and the 'family home', a home you can stay in and love is incredibly important to me, and so I just want the coolest house I can get.

Would you say it is a measure of success? (I would, but only if you are happy at the same time, rich happy guy > poor happy guy > rich unhappy guy > poor unhappy guy)

Also, do you have a figure in mind? Personally I'd like at least a $2M house and probably another $1M in general savings/investments for holidays, kids, general security.
Once I reached that, I'm done.


Thoughts much appreciated, apologies if i've rambled.

Re: What is your motivation to make more money?
 

Because they said I couldn't.........

Re: What is your motivation to make more money?
 

I don't have an infinite thirst for money. Give me enough to retire today and I'll stop playing poker. I think about how to make more money because I want to retire earlier.

Edit: $2-3 million in today's dollars should do it. Figure by the time I'm 40 I'll be good.

Edit2: I have no desire to buy a house. I use my money to live and travel.

Re: What is your motivation to make more money?
 

Nothing wrong with having money as your primary ambition.

I enjoy doing things that push my limitations and potential to the extreme. Business helps me achieve this and the consequence of having a successful business is that I make money.

Do I have a figure in mind? Yes, I will try to build billion dollar businesses.

The monetary amount doesn't mean much to me. However; the value behind the service I must provide to become a billion dollar business is the true reason for having such a high monetary value.

What I eventually want to do with that money is actively change the entire educational system. I think our current educational system is decades behind our current world.

Re: What is your motivation to make more money?
 

"Now I aint sayin she a gold digger,
But she aint messin wit no broke n*ggas."

Re: What is your motivation to make more money?
 

got a mil on the deal and i'm still on the grind

in all seriousness, i've always hated the concept of working for the sole purpose of getting rich. while the job that i have is potentially lucrative in terms of early retirement, i think the main reason i chose it is because it offers so many opportunities in terms of learning experiences. my hope is that i'll find something i'll love doing, and have the opportunity to take it. that'll be success in my book.

Re: What is your motivation to make more money?
 

Doug,

I'd think if you parlay your WSOP money + job money till you're 30 you'll easily be set for life.

Also, are you playing any events this year? GL if so - try and get some more TV time this year.

Re: What is your motivation to make more money?
 

I want a huge house with rooms for any close friends and family to visit or stay with me as long as they want. The house needs to be on a lake with a couple sick boats.

I also love watching investments grow and enjoy adding to them.

Re: What is your motivation to make more money?
 

[ QUOTE ]

Personally I'd like at least a $2M house and probably another $1M in general savings/investments for holidays, kids, general security. Once I reached that, I'm done.


[/ QUOTE ]

This makes no sense.

eastbay

Re: What is your motivation to make more money?
 

[ QUOTE ]
I don't have an infinite thirst for money. Give me enough to retire today and I'll stop playing poker. I think about how to make more money because I want to retire earlier.

[/ QUOTE ]

These are my thoughts exactly. Although, unlike TheMetertron, I am using my money to buy a house. In fact, all I want to do is retire on a lake house. As soon as I have enough money to comfortably retire at a lake-house, I consider myself set for life and will not worry about working ever again.

Re: What is your motivation to make more money?
 

No one wants a jet / $50 mil house / sports team(cheap one, not the Yankees)? Check out sothebysrealty.com and locations like Bridgehampton / Cote d'Azur / Lake Tahoe / Greenwich CT. Before I saw that website, I also wanted a $2mil house.

Personally, I have no monetary goals, but since I was very young the only real goal was of lifetime independence(not ever having to work for anyone else). Simply poker's existence (and it will always exist) has taken care of that for life, and I am incredibly thankful. Meanwhile, I spend ~10 hrs per day on accumulating knowledge in economics / finance / trading / investing(only because its the only thing more fun than poker), and when I reach some arbitrary knowledge threshold(maybe in 5 years), I'll start a hedge fund (with only personal funds) - I don't care if ~500k AUM is laughable.

If performance is good, I'm sure small sums ( a few mil.) won't be too hard to find from outside investors. If performance not good, stop loss will be very tight, and I'll take another self-administered course of "finance knowledge" for a year or two, and try again.

I plan on repeating this process until I die / become mentally incapacitated, and will be extremely happy even if I am 77 living in a 1br condo with less than 1mil. networth, while starting businesses / hedge funds and playing poker to fund them. My only real goal would have been achieved regardless.

Also, if someone offered me USD 10 billion right now with the stipulation of a lifetime ban from any sort of activity involving poker / business / finance / capital markets, I would reject it. Anyone else as crazy as me?

Re: What is your motivation to make more money?
 

To cover health care costs that I may incur in the future.

Re: What is your motivation to make more money?
 

I want to make enough money so my money makes me money ...

I also had the by-30 millionaire dream ... I'm 28 now and I'm not out of the debt hole ... I still work for the same company, and I really like my job ... I make a good amount of money and some day the stock options will become liquid ... at that point the money will be less than I thought it would be when I was dreaming at 21, but it will still be enough to take me to the next level of making money

If you're about to turn 23, I would work very hard at laying out a foundation / roadmap to reach your goals at 30 ... otherwise you'll always be dreaming ... it's very important that you realize now what it's going to take to get to your goal at 30 ... you may think it's getting so good at poker that you're beating 25/50 on up for a decent clip ... you may think it's founding the next web 2.0 company and selling it 18 months later ... whatever it is, it's your dream ... just make sure you know what it's going to take to capitalize should you be on the horizon of reaching your dream

Also, take it from me that it's ok if goals / dreams change ... if you're still playing poker at 25 and nowhere near halfway to your goal, re-evaluate ... you haven't failed ... life isn't over if you haven't "made it" at 30 ... truth is you should always be educating yourself so you can take advantage of opportunities that come along during your quest ... some day you might find yourself with 10x your goal and it could have come from something completely unrelated to your original plan ...

Health is important ... education is important ... sanity is important ... fun is important ... friends & family is important ... lots and lots of dreams & goals is important ...

It's hard to achieve them all, but it's quite an accomplishment to achieve some of them

Re: What is your motivation to make more money?
 

[ QUOTE ]

Also, if someone offered me USD 10 billion right now with the stipulation of a lifetime ban from any sort of activity involving poker / business / finance / capital markets, I would reject it. Anyone else as crazy as me?

[/ QUOTE ]

Hell no.

Re: What is your motivation to make more money?
 

I would take this deal for 20 mil.

Re: What is your motivation to make more money?
 

My goal is to have $10M liquid net worth by age 45.

Re: What is your motivation to make more money?
 

More $$$ - Financial Independence = Freedom

Re: What is your motivation to make more money?
 

Ill be pretty dissapointed if I dont have 10 million when Im 30.

Re: What is your motivation to make more money?
 

[ QUOTE ]
Ill be pretty dissapointed if I dont have 10 million when Im 30.

[/ QUOTE ]

Without knowing anything about your financial situation, you are probably going to be pretty dissapointed when you are 30.

Re: What is your motivation to make more money?
 

Ego. Self-worth measured in things that are bought with money.

That's my motivation.

Re: What is your motivation to make more money?
 

[ QUOTE ]
Personally I'd like at least a $2M house and probably another $1M in general savings/investments for holidays, kids, general security.
Once I reached that, I'm done.

[/ QUOTE ]

With planning like that I am sure you will be rich in no time.

As to your original question. I just want it to buy crap that entertains me. I have no intention of ever retiring. Aside from investments set aside for family I also hope to time my death and die broke.

Re: What is your motivation to make more money?
 

[ QUOTE ]
[ QUOTE ]
Ill be pretty dissapointed if I dont have 10 million when Im 30.

[/ QUOTE ]

Without knowing anything about your financial situation, you are probably going to be pretty dissapointed when you are 30.

[/ QUOTE ]

Pretty sure hes an early 20 something trust fund baby worth 7 figures already. So he maybe wont be.

Re: What is your motivation to make more money?
 

[ QUOTE ]
[ QUOTE ]

Also, if someone offered me USD 10 billion right now with the stipulation of a lifetime ban from any sort of activity involving poker / business / finance / capital markets, I would reject it. Anyone else as crazy as me?

[/ QUOTE ]

Hell no.

[/ QUOTE ]

http://img.photobucket.com/albums/v7...ths/2girls.jpg

put me in the hell no camp.

does't mean i can't read & study finance...just means i can't be in the industry work wise (and i get all that money to manage myself...if that is not allowed i'd still take the US10bil and do a whole lot of travel, reading & good w/ it)

Re: What is your motivation to make more money?
 

Running out of money.

Re: What is your motivation to make more money?
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]

Also, if someone offered me USD 10 billion right now with the stipulation of a lifetime ban from any sort of activity involving poker / business / finance / capital markets, I would reject it. Anyone else as crazy as me?

[/ QUOTE ]

Hell no.

[/ QUOTE ]

http://img.photobucket.com/albums/v7...ths/2girls.jpg

put me in the hell no camp.

does't mean i can't read & study finance...just means i can't be in the industry work wise (and i get all that money to manage myself...if that is not allowed i'd still take the US10bil and do a whole lot of travel, reading & good w/ it)

[/ QUOTE ]

Barron,

Do you really need something as big as 10bil though?

You don't think you can use your reading / studying / mental abilities to eventually make enough $$$ to do the same travelling & helping people while having tons of fun making the money yourself?

Re: What is your motivation to make more money?
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]

Also, if someone offered me USD 10 billion right now with the stipulation of a lifetime ban from any sort of activity involving poker / business / finance / capital markets, I would reject it. Anyone else as crazy as me?

[/ QUOTE ]

Hell no.

[/ QUOTE ]

http://img.photobucket.com/albums/v7...ths/2girls.jpg

put me in the hell no camp.

does't mean i can't read & study finance...just means i can't be in the industry work wise (and i get all that money to manage myself...if that is not allowed i'd still take the US10bil and do a whole lot of travel, reading & good w/ it)

[/ QUOTE ]

Barron,

Do you really need something as big as 10bil though?

You don't think you can use your reading / studying / mental abilities to eventually make enough $$$ to do the same travelling & helping people while having tons of fun making the money yourself?

[/ QUOTE ]

but there is a cost to uncertainty. having the money now nullifies that cost and allows me absolute freedom to study what i want when i want.

like right now for instance. i have a reading list that i want to get through. but i'm so enjoying the black swan that it is taking me some huge amt of time to read. one major reason is that i branch off and explore anybody that Taleb recommends.

so now i have 2 large texts downloaded from the internet archive by henri poincare (science & hypothesis, & mathematics & science: last essays). if i had freedom of time w/o pressing job considerations & my own learning syllabus on the horizon, i'd break to read the poincare books.

then i'd meander back and forth from taleb to poincare until black swan is finished & then go back and finish the other books.

but since i must first make tha mani (i.e. secure a job), i cannot explore the more superfluous readings & instead plan to stick to my curriculum.

further, with $10bil, i could wake up to a symphony every morning and have them play pleasurable reading music for me [img]/images/graemlins/smile.gif[/img]

Barron

Re: What is your motivation to make more money?
 

VERY good question.

My answer: I want to work less later.

Re: What is your motivation to make more money?
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
Ill be pretty dissapointed if I dont have 10 million when Im 30.

[/ QUOTE ]

Without knowing anything about your financial situation, you are probably going to be pretty dissapointed when you are 30.

[/ QUOTE ]

Pretty sure hes an early 20 something trust fund baby worth 7 figures already. So he maybe wont be.

[/ QUOTE ]

Where did this image of me come from?

I earned every dollar from my name grinding it out on pp back in the day and investing it. I never took a hand out along the way.

Re: What is your motivation to make more money?
 

[ QUOTE ]
I want to make enough money so my money makes me money ...

I also had the by-30 millionaire dream ... I'm 28 now and I'm not out of the debt hole ... I still work for the same company, and I really like my job ... I make a good amount of money and some day the stock options will become liquid ... at that point the money will be less than I thought it would be when I was dreaming at 21, but it will still be enough to take me to the next level of making money

If you're about to turn 23, I would work very hard at laying out a foundation / roadmap to reach your goals at 30 ... otherwise you'll always be dreaming ... it's very important that you realize now what it's going to take to get to your goal at 30 ... you may think it's getting so good at poker that you're beating 25/50 on up for a decent clip ... you may think it's founding the next web 2.0 company and selling it 18 months later ... whatever it is, it's your dream ... just make sure you know what it's going to take to capitalize should you be on the horizon of reaching your dream

Also, take it from me that it's ok if goals / dreams change ... if you're still playing poker at 25 and nowhere near halfway to your goal, re-evaluate ... you haven't failed ... life isn't over if you haven't "made it" at 30 ... truth is you should always be educating yourself so you can take advantage of opportunities that come along during your quest ... some day you might find yourself with 10x your goal and it could have come from something completely unrelated to your original plan ...

Health is important ... education is important ... sanity is important ... fun is important ... friends & family is important ... lots and lots of dreams & goals is important ...

It's hard to achieve them all, but it's quite an accomplishment to achieve some of them

[/ QUOTE ]

Fantastic.

All of it is great. A key takehome message here, is that things change. Trust me, the things you want now, chances are will not be the things you want at 30, as I guarantee your circumstances in your life will change, so your dreams and goals will change.

But whether they come true or don't it doesn't really matter. It's who you become as a result of working towards those goals which is important. It's very similar to the poker philosophy of being process oriented and not results oriented. Bill Gates, Warren Buffet, and most of the richest people on the planet do not work for the money. They do what they do because they love it, it is their passion, it challenges them.


THE HUN.

Re: What is your motivation to make more money?
 

[ QUOTE ]
[ QUOTE ]
I want to make enough money so my money makes me money ...

I also had the by-30 millionaire dream ... I'm 28 now and I'm not out of the debt hole ... I still work for the same company, and I really like my job ... I make a good amount of money and some day the stock options will become liquid ... at that point the money will be less than I thought it would be when I was dreaming at 21, but it will still be enough to take me to the next level of making money

If you're about to turn 23, I would work very hard at laying out a foundation / roadmap to reach your goals at 30 ... otherwise you'll always be dreaming ... it's very important that you realize now what it's going to take to get to your goal at 30 ... you may think it's getting so good at poker that you're beating 25/50 on up for a decent clip ... you may think it's founding the next web 2.0 company and selling it 18 months later ... whatever it is, it's your dream ... just make sure you know what it's going to take to capitalize should you be on the horizon of reaching your dream

Also, take it from me that it's ok if goals / dreams change ... if you're still playing poker at 25 and nowhere near halfway to your goal, re-evaluate ... you haven't failed ... life isn't over if you haven't "made it" at 30 ... truth is you should always be educating yourself so you can take advantage of opportunities that come along during your quest ... some day you might find yourself with 10x your goal and it could have come from something completely unrelated to your original plan ...

Health is important ... education is important ... sanity is important ... fun is important ... friends & family is important ... lots and lots of dreams & goals is important ...

It's hard to achieve them all, but it's quite an accomplishment to achieve some of them

[/ QUOTE ]

Fantastic.

All of it is great. A key takehome message here, is that things change. Trust me, the things you want now, chances are will not be the things you want at 30, as I guarantee your circumstances in your life will change, so your dreams and goals will change.

But whether they come true or don't it doesn't really matter. It's who you become as a result of working towards those goals which is important. It's very similar to the poker philosophy of being process oriented and not results oriented. Bill Gates, Warren Buffet, and most of the richest people on the planet do not work for the money. They do what they do because they love it, it is their passion, it challenges them.


THE HUN.

[/ QUOTE ]

If you cite Warren Buffett, you must realize that his goals / desires stayed essentially the same for his entire life, and definitely didn't radically change when he became 30. He does exactly the same stuff at 75 as he did when he was 20, regardless of the gigantic discrepancy between his net worth and general wisdom at those points.

Re: What is your motivation to make more money?
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
Ill be pretty dissapointed if I dont have 10 million when Im 30.

[/ QUOTE ]

Without knowing anything about your financial situation, you are probably going to be pretty dissapointed when you are 30.

[/ QUOTE ]

Pretty sure hes an early 20 something trust fund baby worth 7 figures already. So he maybe wont be.

[/ QUOTE ]

Where did this image of me come from?

I earned every dollar from my name grinding it out on pp back in the day and investing it. I never took a hand out along the way.

[/ QUOTE ]

The lambo thread maybe...or maybe the under 21 thread. There was a bunch of talk of u and inheritance and u playing like 3/6.

Apologies if it wasnt true.