$200,000

[Statutory]

I'd suggest not keeping all the money liquid. Lets assume his BR is 300K. Hes looking to keep 100K to play poker with and wants to make the other 200K work for him. This is a great idea.

But why does he need access to the 200K? If you look around these boards, many a poker player has lost their six figure bankrolls. In my opinion, taking a 100K down swing should be a sign that you are doing something wrong, especially for an MTT player, and you should drop down stakes to fix your game and regrow your bankroll. The answer isn't reload the 200K and move up.

Combine poker players' tendency to chase their losses with Gobbo's generosity (Vig), 100% liquidity is probably a bad idea.

Invest in a balanced portfolio and he'll have an early retirement.