OT: whats life like after the 215's?

[NiRRRRR]

lots of ups and downs first 200 sngs. then i had to learn icm better =/. i did and it was nice after that. but last 400 or so im EVEN!! argh. still overall doing preety damn well. better then the 17% in 55's. much better. better in terms of $/tourney.

[Gramps]

Even living in San Francisco, with one of the highest state income tax rates, one of the highest sales tax rates, and one of the highest costs of living in the country, you should (conservatively) be able to stock away close to $300k in an SEP IRA after 5 years (assuming an "average" retrun per year), plus an additional ~ $100k per year in savings post-tax. If you invest that conservatively, that should be more like ~600-700k after 5 years (that's assuming a pretty conservative return).

I'm not saying you're "set" as in you don't have to work, but if you work enough to pay your bills and your mortgage if you buy a house (yes, deduct ~200k from the above for your down payment, and the monthly + insurance + property tax is ~ $4k-$5k, but if you were making $250k, that's not too much of a strain), and don't touch the rest, just investing it semi-conservatiely and letting it grow, then you are set for life absent some extreme happening.

There's tons of professional people with good salaries, fancy titles, and career status, living in big houses living the (apparent) bling-bling lifestyle to the maximum of their means, who don't have a nestegg close to the one above. Having such a nestegg gives you huge leverage in how you can live your life. If one is attainable within a relitively short period of time (5 years), that's not something you play around with. It's there, grab it if you can for chrissakes.

[cat_mouse]

for a successful 215 player, money would not be a issue as long as he is willing to put in the hours. some wanna make more hourly so they move to NL cash, but the variance in cash game is much higher and there is still a learning curve even though a top-notch SNG player should be able to beat cash games too after a little adjustment and getting used to. some wanna get famous so they start playing more MTTs. but i think very few completely abandon 215s. you dont see some of the names anymore because they changed their screen names. overall, i think SNg is more fun than cash game and MTT. if you can make a lot of money doing it,why switch?
as a very good 215 player myself, right now my main poker goal is to win a big MTT so i can get on TV. i also wanna learn how to trade stocks, mainly for the different challenges financial market can offer.

[nokia1566]

I just started playing SNGs and i've allready started thinking about what happens after 215s. Personally, I had planned on winning satellites to a lot of WPT and EPT events (winning STTs and shoot outs doesn't seem so hard to do once you're an expert STT player) and try to make a nice score on the tourney circuit while still running SNGs online.

[zabt]

[ QUOTE ]
Even living in San Francisco, with one of the highest state income tax rates, one of the highest sales tax rates, and one of the highest costs of living in the country, you should (conservatively) be able to stock away close to $300k in an SEP IRA after 5 years (assuming an "average" retrun per year), plus an additional ~ $100k per year in savings post-tax. If you invest that conservatively, that should be more like ~600-700k after 5 years (that's assuming a pretty conservative return).

I'm not saying you're "set" as in you don't have to work, but if you work enough to pay your bills and your mortgage if you buy a house (yes, deduct ~200k from the above for your down payment, and the monthly + insurance + property tax is ~ $4k-$5k, but if you were making $250k, that's not too much of a strain), and don't touch the rest, just investing it semi-conservatiely and letting it grow, then you are set for life absent some extreme happening.

[/ QUOTE ]
You're not going to be able to support yourself with some sort of soft part-time job -- you're already talking about $50K per year in housing expenses. Sure, the nest egg will make things more comfortable, but you're not going to be able to have some sort of soft half-time job and be able to use your nest egg to travel or pursue your hobbies or whatever. You're going to be a working stiff who happens to be able to afford the nicer cars, more expensive toys, grander vacations, etc.

Also, consider that at some point there might not be just you, but a significant other and maybe a family.

Maybe our ideas of "set" differ. Don't get me wrong: I'd much rather have the $750K in the bank than not. I just don't think that amount of money means you're set for life.