current net worth vs. liftime earnings

[Josh.]

1:3 and getting worse by the minute

[TNUC]

50k : 70k .. made about 60k from poker, roughly 10k from [censored] jobs before poker.

[Jay.]

oh man, i really don't want to know. and i don't get taxed.

[modnareno]

10:200

HOW DO YOU SAVE MONEY?????????

ps half of the 10 is ~300k FPPs.

[Andynan]

1300:1

lol microlimitaments

[stealthmunk]

[ QUOTE ]
Ummmm i dont even want to think about it.

[/ QUOTE ]

[luegofuego]

guessing 1:10. i am way too frivolous.

[tagtastic]

[ QUOTE ]
Ike,

You may be right. I wasn't able to find applicable data with google either way, and young poker players may be a unique population in any case.

I'm definitely not going to tell someone that its impossible they've saved X amount of dollars. But I think this is a question where its easy to dash off an answer and then check back and say WHOA.

[/ QUOTE ]

If you ignore taxes (for example if I lived in a country where gambling winnings were tax free, sigh), I would have saved 75% of my pretax income this year, while still spending enough to live very well. When you add in taxes the figure gets dramatically less, but still well above the 10 and 20% ranges you're saying are very difficult to achieve.

I do live in an area where the cost of living is fairly low, and I live w/ my fiancee who pays for roughly half of our combined expenses, but we still spend freely on things we enjoy.

I think a lot of it comes to down personality too. I know several people who just never, ever have any money. It's not that they don't work, or get paid nothing, they just can't hold on money for the life of them. For example, a guy I know just bought a $600 iPhone, and probably has less than $1.5k in the bank - I simply can't fathom ever spending that much with so little behind (on something that's a luxury). There's plenty of people spending money they don't even have on really unnecessary things too.

My lifetime ratio is about 1:2. And yes, my parents did give me a good start, certainly no trust fund, but they paid for my college and after I graduated Dad sold me a nice car for far less than it was worth. School loan and car payments would have taken a big chunk out of my earnings that I got to save instead.

[NU Star]

1:6

[prodonkey]

-5:12