all you college drop outs...

[xxThe_Lebowskixx]

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trading stock/futures markets

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What makes you think you arent going to be a fish?

[greg nice]

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trading stock/futures markets

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What makes you think you arent going to be a fish?

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everyones a fish when they start.

[xxThe_Lebowskixx]

Stock and real estate seems like a good way to invest conservatively. Buffet returns 30% and he is a God, right? So what is your best return going to be?

[alphatmw]

we don't learn anything about business in high school. where did all your high stakes college drop outs learn about all this investing crap?

[G-Diddy20]

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we don't learn anything about business in high school. where did all your high stakes college drop outs learn about all this investing crap?

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http://forumserver.twoplustwo.com/po...p;Board=stocks


I don't know what my return will be, probably not to great when i start out, but as i move on and add more and more property to what i own hopefully whatever percent it is there will be enough of it that i can relax and let the money roll in by the time I'm 40. I like to think of what I will try to do as a game of monopoly. Search and seek out a lot of profitable property investments like apartment complexes etc. and once i get them going, hire employees to take care of the maintenance. Then start going after bigger projects. Got to get the capital you guys have first though.

[Leptyne]

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Once I hit the 1.5/2m after taxes range, which will hopefully be in the next 18 months since I'm going to try and play a ton of hours, I feel like I can basically live off of the interest

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Depending on the specifics, you do realize how small your annual income is probably going to be, right?

Assuming that you mean interest in the "money market account" sense, your real return is probably going to be about 2% per year, or $40,000.

ML4L

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Certainly not money markets. Perhaps a treasury ladder (5 yr) or a 50/50 mix of total bond mkt index with total stock mkt index should be able to generate an income stream of 4.0%.

[captZEEbo]

I was considering leaving the US and living in a cheaper country

[kagame]

wow, just use a broadly diversified portfolio with a heavy emphasis in equities with about 80% of your total funds, and just allow it to grow

the power of compounding interest will double, triple, or even more radically increase your nest egg!

keep the rest in something short term and highly liquid, or use it to play smaller stakes poker, live off of rakeback

most important thing here is to take some short term risk for a longer timeline and ALLOW THE INTEREST (% growth) TO COMPOUND ON THE INTEREST!

[ML4L]

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Once I hit the 1.5/2m after taxes range, which will hopefully be in the next 18 months since I'm going to try and play a ton of hours, I feel like I can basically live off of the interest

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Depending on the specifics, you do realize how small your annual income is probably going to be, right?

Assuming that you mean interest in the "money market account" sense, your real return is probably going to be about 2% per year, or $40,000.

ML4L

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Your model would have me dying without spending the inital $2m.

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Indeed it does; I was being a little conservative there, since outliving one's money is a fear that most people (should rightfully) have. Very few things sadder to me than seeing an 80-year old work a fast food register...

If you start digging into principal, you're going to better that $40,000 number (although, note that I gave you the benefit of the doubt with $2 mil instead of $1.5... [img]/images/graemlins/tongue.gif[/img]). And, as it's been pointed out, that money can go a long way with a low cost of living.

The reason that I posted was not really for you; you're clearly extremely intelligent about such things and have thought this out. It was more for anyone who saw your plan and intended to emulate you without really understanding finance/economics. Your typical college drop-out, despite being a very good poker player, probably doesn't understand the difference between a nominal and real return. So, when he/she sees the ING rate of 5% or whatever, he/she thinks that's what the "return" will be.

Those same people are also probably the ones who think that $2 million dollars is a such a staggering sum of money that it would allow someone to live their current "baller" lifestyle indefinitely...

So, just wanted to provide a public service announcement...

ML4L

[Matt Flynn]

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Once I hit the 1.5/2m after taxes range, which will hopefully be in the next 18 months since I'm going to try and play a ton of hours, I feel like I can basically live off of the interest

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Depending on the specifics, you do realize how small your annual income is probably going to be, right?

Assuming that you mean interest in the "money market account" sense, your real return is probably going to be about 2% per year, or $40,000.

ML4L

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If he owns his house outright and can make 3% instead, he's doing just fine if he doesn't breed. No house payment plus no kids plus no drugs = no money problems.

Plus life will always bring opportunity. You don't have to solve the whole problem before age 23. Just 3K / month in poker winnings would make life easy.