Young guy, looking for advice on where to go next.

[TheProdigy]

Hey guys,


Say I am looking to start a somewhat aggressive plan to start saving money. I will put 5k in an account and reinvest 2k-5k per month there-after. What is a good breakdown for the stocks I could choose? What do you guys think of this:

EFA EURO-ASIA INDX (MSCI-ISHARES) 15.00% $300.00
IWD RUSSELL 1000 VALUE (ISHARES) 40.00% $800.00
IWF RUSSELL 1000 GROWTH (ISHARES) 35.00% $700.00
IWM RUSSELL 2000 INDEX (ISHARES) 7.00% $140.00
TIP LEH US TREAS INF FD (ISHARES) 3.00% $60.00

[stephenNUTS]

[ QUOTE ]
Hey guys,



Say I am looking to start a somewhat aggressive plan to start saving money. I will put 5k in an account and reinvest 2k-5k per month there-after. What is a good breakdown for the stocks I could choose? What do you guys think of this:

EFA EURO-ASIA INDX (MSCI-ISHARES) 15.00% $300.00
IWD RUSSELL 1000 VALUE (ISHARES) 40.00% $800.00
IWF RUSSELL 1000 GROWTH (ISHARES) 35.00% $700.00
IWM RUSSELL 2000 INDEX (ISHARES) 7.00% $140.00
TIP LEH US TREAS INF FD (ISHARES) 3.00% $60.00

[/ QUOTE ]

Hello Prodigy,

How old are you ,and what is your income/career at the moment......as well and goals/risk tolerance/approx. age you would like to "retire" going foward ?

I am also assuming you are OPENING the account with $5k...and then buying the additional proportional amounts from your list with $2k-$5k of NEW money(from a job,poker earnings,other income,whatever)

Stephen [img]/images/graemlins/cool.gif[/img]

EDIT: I just realized I responded to you above,and you already said that you just turned 19....SORRY [img]/images/graemlins/frown.gif[/img]

I also LIKE it so far,but will amend/suggest from here after some more input from you [img]/images/graemlins/cool.gif[/img]

[huber117]

wtf you just turned 19 and make that much from poker thats crazy. i barely beat 10-25 nl though i only play a couple hours a week. seriously, how do you become that good at poker to make that much consistently, you probably have to be beating 200 nl since after variance you make around 100k a year right? im 19 too and just landed a project coordinator job for a construction company in west hollywood and i thought i was doing good (im 19 too). were you coached in poker? read every thread in the strategy forums? a few months ago i was beating the $5.50 sngs at bodog but now im barely break even to the point where its not worth playin anymore, my biggest cashout was $900 after a month of playing (keep in mind i never played much, a few hours some nights of the week). i have a hundred some dollars left in bodog but havent had the time to play again. hearing stories of people who make it in poker makes me want to improve my own game. any advice from OP or snyone else is appreciated. thanks.

[ahnuld]

When I was 19.. haha, not like im old now, only 21.

SN is right. Im in senior year of a finance degree and iv learned almost nothing practical in school that would really help me as an equity investor that I couldnt have taught myself. As a trader, forget it, they look down on trading and dont address it. Read this forum, read the paper every day, and read a ton of investing books, then try to get some real life experience if only in a mock portfolio to start.

[TheProdigy]

[ QUOTE ]
[ QUOTE ]
Hey guys,



Say I am looking to start a somewhat aggressive plan to start saving money. I will put 5k in an account and reinvest 2k-5k per month there-after. What is a good breakdown for the stocks I could choose? What do you guys think of this:

EFA EURO-ASIA INDX (MSCI-ISHARES) 15.00% $300.00
IWD RUSSELL 1000 VALUE (ISHARES) 40.00% $800.00
IWF RUSSELL 1000 GROWTH (ISHARES) 35.00% $700.00
IWM RUSSELL 2000 INDEX (ISHARES) 7.00% $140.00
TIP LEH US TREAS INF FD (ISHARES) 3.00% $60.00

[/ QUOTE ]

Hello Prodigy,

How old are you ,and what is your income/career at the moment......as well and goals/risk tolerance/approx. age you would like to "retire" going foward ?

I am also assuming you are OPENING the account with $5k...and then buying the additional proportional amounts from your list with $2k-$5k of NEW money(from a job,poker earnings,other income,whatever)

Stephen [img]/images/graemlins/cool.gif[/img]

EDIT: I just realized I responded to you above,and you already said that you just turned 19....SORRY [img]/images/graemlins/frown.gif[/img]

I also LIKE it so far,but will amend/suggest from here after some more input from you [img]/images/graemlins/cool.gif[/img]

[/ QUOTE ]

Will reply to the other things next but will start here.

Stephen, first off thanks for the help, it is really appreciated.

I am 19, just turned at end of sept(9/29), so barely 19 still [img]/images/graemlins/smile.gif[/img]

I am playing poker "professionally." I make 40k off bonuses, and this year I made a "certain" amount from poker as well. I can't say what next year's income will be, as I started this year with $300 at 25nl, and am now beating(NO JINX PLZ) 400nl. Many of the players at my level with my volume of play are setting goals at 250, 275, 300k. I play 80-100k hands a month, FWIW. I am going to set my conservative goal at 150k, and my "well done" goal at 200k. This is so preliminary, and I have no use for the money so it is no big deal if things don't work out/etc, I am just using these figures for your help.

I kind've planned on using this particular account as my excess poker acct, so cashing out to this account. I can start this account with ~15k as that is an amount that would leave enough in this bank and let me pay taxes as well as not messing with my other investments. I was just going to start it with 5k because it is geared towards an aggressive portfolio(I think lol). Also, that would let me hit my goal of 2k easy each month since I still have excess, but obviously I know investing it all at first would be better, so do with it what you will [img]/images/graemlins/smile.gif[/img].

Anyways, with the income: I make around 3k if not more on average with bonuses. I generally win each month, and my losing months generally can be put into + months by bonuses. I know there is variance and I know I can have a losing month easily, so I can't always hit my goal if I want to. I also, like I said, play like 100k hands a month, so it makes me win more often as variance evens out some.

I am thinking I should go for an aggressive investing strategy. The money is negligible, as in I have no reason for the money to be worried about. If I lost it that would be "bad," but it has no use and it isn't going to kill me in any way if I did lose it. So I am thinking aggressive is the best way to go? I also don't want to have a minimal risk of ruin, so I don't want to go over the top.
Thank you!

[TheProdigy]

[ QUOTE ]
wtf you just turned 19 and make that much from poker thats crazy. i barely beat 10-25 nl though i only play a couple hours a week. seriously, how do you become that good at poker to make that much consistently, you probably have to be beating 200 nl since after variance you make around 100k a year right? im 19 too and just landed a project coordinator job for a construction company in west hollywood and i thought i was doing good (im 19 too). were you coached in poker? read every thread in the strategy forums? a few months ago i was beating the $5.50 sngs at bodog but now im barely break even to the point where its not worth playin anymore, my biggest cashout was $900 after a month of playing (keep in mind i never played much, a few hours some nights of the week). i have a hundred some dollars left in bodog but havent had the time to play again. hearing stories of people who make it in poker makes me want to improve my own game. any advice from OP or snyone else is appreciated. thanks.

[/ QUOTE ]

First off, ahnuld: I am investing right now quite a bit. I have been for a year, but I admit I am such a novice at it. I think Buffett said the worst thing someone can do is not invest, so I took that advice and threw it in blindly. I mostly invest in ETF's now as they can diversify my portfolio but don't leave me much risk of losing a lot by picking individual stocks.

Now, to the quoted [img]/images/graemlins/smile.gif[/img]

I am beating 400nl, but am only marginally beating it right now. I can't say how I got so good at it, I guess just volume. I started playing 25nl with $300 in January, and have played like ~1mill hands. I read a couple books to get me started, but they didn't help me past 100nl at all.

I received some coaching, but it was just recently and on a game(Full-ring) I know a lot about, and it is also a game that isn't as diverse as 6max, so I didn't have much to discuss and/or learn. I am going to eventually get some coaching in 6m and HU, but as of now I am self taught, mostly by volume and studying pokertracker and reviewing hands. FYI, I have all intentions of eventually being at the top of this game, and hopefully my dedication and work can pay off to eventually get me there. Good luck on your career choices and I hope you can work on improving your game, but I promise it isn't easy!

[hERESY]

[ QUOTE ]
80-100k hands a month

[/ QUOTE ]

... so jealous.

gl.

[stephenNUTS]

Hello Prodigy

First of all I have to say WOW!

If what you are saying is true,and you are in fact 19yrs old.....just your foresight alone to start investing NOW,and being an open-minded novice(not some 16yr old online poker winning know it all PUNK)...just blows me away

Congrats man

As far as earning that kind of money($150k+ playing online poker is awesome)...even if unsustainable for various reasons we can get into later.If you choose to do this over many years...start NOW and always SEPARATE your poker BR from your investments

I am pretty impressed(and that aint easy...lol) by your writing abilty,willingness to learn,listen,and understand...and mostly your poker success at such a young age.It says alot already about your character,and the greater chances of you STAYING financially successful going foward.

The ONE key thing I am concerned about is that you just mention POKER.As you MUST know already....many young poker pro's are ignorant to the fact of a back-up plan,and put blinders on to the fact that poker is ALL there is to life at the moment.....it AINT

Are you in college or plan to attend for any other career choice "IF" poker doesnt provide the income/challenge/oppurtunity/security/etc....say TEN years from now?

We can get back to that later if ness....but I must say the aggressive strategy you mentioned above is a PERFECT start,and other members can guide you to other balanced funds/portfolios as well.....but PLEASE listen to the following:

1. Keep your poker BR/and any monies you take out of your poker account for investment purposes totally SEPARATE.
NO IF,AND's or BUT's!

2.As I mentioned above,the fact that you already realize that POKER and INVESTING(although having some mildly similar traits)are comepletely differant animals.....do not ever forget this.The fact of just putting your money to work in MF's or stock/bond index's takes A TON of the guesswork out of "beating the market" yourself

3.DO what you do BEST right NOW...play POKER.
In other words....I have seen countless people make some serious scores at a very young age(poker,BIG lottery winngers,inheritances,etc)and for example....."well I will just go daytrade,as that must be easy..and its then SAME thing anyway"....UNTIL YOU understand the many pitfalls of the stock markets,DO NOT FALL into this trap,So if you have what it takes to make that kind of money in poker NOW....stay with it until proven otherwise

4. DO NOT GAMBLE...on anything YOU dont feel you have a REAL EDGE on...I am VERY SERIOUS about this dangerous arena

5.Stay away from ALL the bad vices that the "average 19yr balla' thinks is cool"....lol...you will think otherwise in 10 yrs how STUPID some of the things you did that wasted/lost a ton of money when you were younger

6.If for ANY reason things change (you start LOSING at poker,lack of interest,desires change,relationship issues,etc)....you can always STOP and evaluate again and start a new carrer path...BUT your investment plan will have already started taking shape.

I feel like I am lecturing my 22yr old son....lol....BUT believe me you will thank me many years down the road

Apply/disipline yourself to opening your account with $5k NOW....and withdraw/deposit $2k-$5k per month into your various funds on a monthly basis(its called dollar cost averaging) ..the funds/percentages can ALWAYS be fine tuned down the road

....but again START NOW!

And Thank Me in 20 yrs when you turn 40 [img]/images/graemlins/smirk.gif[/img]

GG ,
Stephen

[TheProdigy]

stephen,


Thanks for all the kind words of encouragement. To answer your first worries about college, yes, I am currently taking finance/investing with a minor(maybe) in econ as a college freshman. (*BRAG Alert*) I am actually on a full ride, so it allows me to grow my poker and investment "bankrolls" without any expenses. This is great as it gives me 4 years to ever start having to live in the real world [img]/images/graemlins/smile.gif[/img]. So as of now I have ~200 or so in expenses per month, so that is very nice [img]/images/graemlins/smile.gif[/img].


Anyways, all your advice is well received. A lot of the things you mention are of course things I have thought about as well. As for starting now, as I mentioned, I started about a year ago [img]/images/graemlins/smile.gif[/img]. I am more than anything looking for ideas on what I need to do next, as well as if I should change my investing portfolio from risk averse to aggressive(I obviously know I should now [img]/images/graemlins/smile.gif[/img] ).

So my next question: If you were me(but with all this knowledge about the markets), what would your portfolio look like? Is mine a good idea, or should I be looking to change it? Do you agree with the alloted percentages and choices I have given each section?

Thanks!

[stephenNUTS]

And you even have a full ride to a four yr school!!
Thats just GREAT [img]/images/graemlins/smile.gif[/img]

You have some future ahead of you kiddo',as I am quite impressed
As far as your current holdings NOW....I wouldnt change anything ATM

Stephen

*** read one of my other posts above with regard to some basic T/A,and MY current positions/opinions on the market so I dont have to duplicate posts...as when you get old like me......lol...you get lazy [img]/images/graemlins/frown.gif[/img]