WSOP Windfall... What am I to do?

[Fishhead24]

Start watching CNBC religously.

[rapidacid]

Congratulations on your winnings.

I'd imagine there's going to be quite a few foreclosures in the upcoming months in Boston ... if it interests you, I would read up on foreclosures and try to take advantage of that situation

Since it sounds like you're kind of a low maintenance guy, you might also want to look at properties in your area that are multi-units ... that way you could buy one, live in one unit and rent out the other 1+ units to help pay your mortgage

[Fishhead24]

Perhaps a 10 acre parcel of Iowa farmland. [img]/images/graemlins/smile.gif[/img]

[jws43yale]

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Perhaps a 10 acre parcel of Iowa farmland. [img]/images/graemlins/smile.gif[/img]

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Will we ever have another thread where fish does not hype farmland. I swear ever thread I read has a comment from him in there. Why haven't the mods told him to cool off yet.

[Fishhead24]

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Perhaps a 10 acre parcel of Iowa farmland. [img]/images/graemlins/smile.gif[/img]

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Will we ever have another thread where fish does not hype farmland. I swear ever thread I read has a comment from him in there. Why haven't the mods told him to cool off yet.

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Dude, I WAS JOKING..........GEESH.

[DcifrThs]

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Start watching CNBC religously.

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THIS IS VERY DANGEROUS FOR BEGINNERS!!!

CNBC makes money from advertising and needs to create the impression of knowledge to attract viewers. as such, they narrate the markets.

but those narrations are horrendous at times and simply reiterate what is going on. when i watch it, it is 50% of the time on mute just to see where the markets have moved in the past hours/days or whatever. they do cover what is going on in the news.

so watch it with care. DO NOT "LEARN" from cnbc. absorb info and decide for yourself.

a good chunck of the time they have their own folks talk about market goings on, i disagree or reach the opposite conclusion based on the data.

Taleb gives an example fo the narrative fallacy that can be CNBC in his book:

back when US caught sadam:

13:01- US treasuries jump as global risk is seen to be reduced after sadam's capture

13:31- US 10yr yields move higher as the markets have already priced in the capture [or something along those lines]

basically, they give you stories w/ the data. those stories can be dangerous if you are not objective and DO NOT pass judgement.

remember: NOT PASSING JUDGEMENT or NOT TELLING A STORY is hard work for your brain. theorizing & storytelling is the default condition.

Barron

[kahntrutahn]

By far my most profitable move ever was reinvesting my poker profits into my bankroll.

That said, I have a company and a SEP-IRA maxed out yearly. The company pays me enough in W2 income as the CEO to max the SEP, the leftover money is treated as a bonus (small tax benefit).