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#1
07-04-2006, 10:10 PM
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Re: if you\'re 21 or younger, post your current net cash assets
is it high or low?
i had a summer job. only source of income. 
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#2
07-04-2006, 10:15 PM
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Re: if you\'re 21 or younger, post your current net cash assets
[ QUOTE ]
is it high or low? i had a summer job. only source of income. [/ QUOTE ] Before I graduated and got a real job and before poker, I never broke 5K in my bank account. And I had more money than most of my friends because I made $11/hr instead of 7, and I didn't buy weed. So I'm not sure what he's saying.
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#3
07-04-2006, 10:17 PM
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Re: if you\'re 21 or younger, post your current net cash assets
[ QUOTE ]
[ QUOTE ] is it high or low? i had a summer job. only source of income. [/ QUOTE ] Before I graduated and got a real job and before poker, I never broke 5K in my bank account. And I had more money than most of my friends because I made $11/hr instead of 7, and I didn't buy weed. So I'm not sure what he's saying. [/ QUOTE ] Same here; I'm hoping he thought it was high.
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#4
07-05-2006, 12:43 AM
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Re: if you\'re 21 or younger, post your current net cash assets
[ QUOTE ]
[ QUOTE ] [ QUOTE ] is it high or low? i had a summer job. only source of income. [/ QUOTE ] Before I graduated and got a real job and before poker, I never broke 5K in my bank account. And I had more money than most of my friends because I made $11/hr instead of 7, and I didn't buy weed. So I'm not sure what he's saying. [/ QUOTE ] Same here; I'm hoping he thought it was high. [/ QUOTE ] definitely thought it was way high if the only source of income is a summer job, you work ~500 hours/summer tops to get 5k net you need to net $10/hr after taxes and never spend a dime, what 18yo pulls that ?? maybe it was a few summers saved up or whatever but if that kind of discipline surprises me a helluva lot more than a 19 year old 2+2'er smashing the party 1/2 or 2/4 NL games for a few months.
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#5
07-05-2006, 03:45 PM
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Re: if you\'re 21 or younger, post your current net cash assets
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] is it high or low? i had a summer job. only source of income. [/ QUOTE ] Before I graduated and got a real job and before poker, I never broke 5K in my bank account. And I had more money than most of my friends because I made $11/hr instead of 7, and I didn't buy weed. So I'm not sure what he's saying. [/ QUOTE ] Same here; I'm hoping he thought it was high. [/ QUOTE ] definitely thought it was way high if the only source of income is a summer job, you work ~500 hours/summer tops to get 5k net you need to net $10/hr after taxes and never spend a dime, what 18yo pulls that ?? maybe it was a few summers saved up or whatever but if that kind of discipline surprises me a helluva lot more than a 19 year old 2+2'er smashing the party 1/2 or 2/4 NL games for a few months. [/ QUOTE ] I had well over 5k in the bank when I graduated from high school. Don't forget birthdays and graduation gifts, that is cash that can add up pretty quickly. I know a lot of people that netted 2k+ in cash for high school graduation alone. Also lots of jobs that teenagers do are tax free (babysitting, pet sitting, mowing lawns, etc). Mowing lawns can earn you more than $20 an hour. Waiting tables at a decent restaurant will earn you well over $20 an hour and most of it tax free. I didn't make that much from any of the "real" jobs I got while working on my engineering degree until my senior year in college. I also had a good chunk of money that I had earned from investing when I graduated from high school. I bought my first mutual fund with $500 dollars I had saved up in 7th grade. The real trick is learning to value saving over spending. IPODs and car stereo systems can be pretty seductive compared to dropping $500 in a mutual fund.
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#6
07-05-2006, 03:52 PM
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Re: if you\'re 21 or younger, post your current net cash assets
when i was a kid, i got like 175 total for birthdays, and maybe 200 total for graduation. money was tight for family and extended family.
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#8
07-05-2006, 03:56 PM
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Re: if you\'re 21 or younger, post your current net cash assets
[ QUOTE ]
I had well over 5k in the bank when I graduated from high school. Don't forget birthdays and graduation gifts, that is cash that can add up pretty quickly. I know a lot of people that netted 2k+ in cash for high school graduation alone. Also lots of jobs that teenagers do are tax free (babysitting, pet sitting, mowing lawns, etc). Mowing lawns can earn you more than $20 an hour. Waiting tables at a decent restaurant will earn you well over $20 an hour and most of it tax free. I didn't make that much from any of the "real" jobs I got while working on my engineering degree until my senior year in college. I also had a good chunk of money that I had earned from investing when I graduated from high school. I bought my first mutual fund with $500 dollars I had saved up in 7th grade. The real trick is learning to value saving over spending. IPODs and car stereo systems can be pretty seductive compared to dropping $500 in a mutual fund. [/ QUOTE ] As an aging 36 year old, I applaud this kid. You are on the right track.
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