Dating a poker pro- From the perspective of a non-playing girlfriend

golfnutt · #1 11-20-2007, 12:23 PM

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Stop telling everyone crap they already know or don't care about.

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Lol. As I said, coming on here and talking poorly about becoming a poker pro is like going to Wisconsin and lecturing the populace on how bad cheese is for you and what it does for your cholesterol level.

As Henry said, these young guns don't know or actually don't want to know.

I personally know poker geniuses for whatever reason have flamed out. It happens to the majority. One guy I know is now making $40k as a promotions manager at a club. He has declared BK and owes everyone in the world money (ouch...I am on that list!).

People will definitely make it. It will be infinitesimally smaller than many people think.

The only way to tell is to come back to 2p2 in 10 years and I am fairly confident you will see a 95%+ turnover. Or you can do as I have and witness it over the last 18 years.

Henry17 · #2 11-20-2007, 01:16 PM

The question I have though is can if the last 18 years of data remains valid? Poker has changed dramatically in the last 4 years. It is also unclear what will happen to poker in the near future.

Thremp · #3 11-22-2007, 01:21 AM

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The only way to tell is to come back to 2p2 in 10 years and I am fairly confident you will see a 95%+ turnover. Or you can do as I have and witness it over the last 18 years.

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I just want to point out that the majority of winners on 2p2 can be comfortably retired in 10 years with a modicum of business talent. So that would be, again, a retarded method to determine this. I personally doubt I'll gamble for any part of my income into my 30s.

golfnutt · #4 11-23-2007, 01:24 AM

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I just want to point out that the majority of winners on 2p2 can be comfortably retired in 10 years with a modicum of business talent.

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Lol. So 51% of winners on 2p2 will be retired?

How much money do you think it takes to be comfortable retired in your 30s?

Even if you socked away $2mm, you are only going to be earning $100k after taxes per year.

And there is no way a majority of winners will have anywhere near that in savings.

But if you believe it, that is all that matters.

Thremp · #5 11-23-2007, 03:03 AM

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I just want to point out that the majority of winners on 2p2 can be comfortably retired in 10 years with a modicum of business talent.

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Lol. So 51% of winners on 2p2 will be retired?

How much money do you think it takes to be comfortable retired in your 30s?

Even if you socked away $2mm, you are only going to be earning $100k after taxes per year.

And there is no way a majority of winners will have anywhere near that in savings.

But if you believe it, that is all that matters.

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I should change that to "professionals". I didn't mean winners. Also the vast majority have some sort of business ventures going as well that are going to help us out.

But whatever, I don't need to validate myself to you. GG with your advice. I hope no one takes it. Or even that you spread it any further.

Henry17 · #6 11-23-2007, 09:15 AM

The problem with business ventures is that while they offer an alternative source of income I find that everything I have attempted has had a less favourable money to hassle/effort ratio than gambling. The only investment options that really appeal to me are ones where I'm completely passive.

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Even if you socked away $2mm, you are only going to be earning $100k after taxes per year.

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Are you just keeping the $2M in a bank account?

Also a lot of people would be happy to live off $100k and not have to work. There is a thread in BFI where a guy wants to retire on $30k at 40 which I think is insane.

The problem with your point is that for someone not to be happy with $100k a year doing nothing than they had to have been much better off when doing something. Since the hypothetical man in this case managed to save $2M in 10 years and live he had to have been making at least $300-350k/year to now not be happy with $100k. Which is possible but then he'll just keep gambling since it is obviously working out for him.

I could have retired from gambling years ago if I wanted to be responsible with money. I'm not though so I'll probably keep doing it until I'm old enough that I can't enjoy the money.

golfnutt · #7 11-23-2007, 11:01 AM

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The problem with business ventures is that while they offer an alternative source of income I find that everything I have attempted has had a less favourable money to hassle/effort ratio than gambling. The only investment options that really appeal to me are ones where I'm completely passive.

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It is hard enough to be successful investor when you have been trained and focused for that your whole life. All it takes is knowing the right person and investing along them. But I don't foresee this coming wave of the plethora of poker retirees making astute investments.

Henry17 · #8 11-23-2007, 01:52 PM

I don't know most of these young poker players so I can't judge them but I would generally agree that you are probably right.

I have done very well investing but in the end I still found it to be too much work. Which is actually a very dangerous aspect of gambling for a living. Everything else starts to feel like too much work. I read the people who post in BFI and how they put the effort into maximizing their income and I feel out of place.

Thremp · #9 11-23-2007, 11:02 PM

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The problem with business ventures is that while they offer an alternative source of income I find that everything I have attempted has had a less favourable money to hassle/effort ratio than gambling. The only investment options that really appeal to me are ones where I'm completely passive.

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At some point your nest egg will outpace what you make from gambling. Then again I'm several orders of magnitude a bigger life nit, so maybe not.

But it is a hassle to learn, but much more scalable than poker or sports. Adding a zero to a position size is almost all that is required once you have established being a winnerz, atleast in terms of scalability.

Henry17 · #10 11-24-2007, 09:49 AM

I agree 100% the problem I'm finding is motivation. By the time scalability becomes an issue someone is already making enough from gambling that adding a 0 to the end is creating wealth for wealth's sake. The quality of life doesn't really improve.

Short of doing stupid stuff like buying $12M Fabergé eggs and warehouses of cars just to have them I don't see what I'd gain by putting in the effort. People that keep building wealth after hitting a critical mass baffle me.