Dating a poker pro- From the perspective of a non-playing girlfriend - Page 12

AlexB81 · #**111** 11-20-2007, 09:34 PM

Situation in Italy and I think europe is that your "job" may last like 1 or 2 year and then they put you home often.
Then if u get 1200\1500 euros like first job after university u are lucky.
Problem is lets say 40% go to university..only 10% go to engineer,or medicine other things are mostly useless and you can be just a teacher and get 1200(humanistic).
And trust me there aren t so many works and places in that works that give u 2500 euros month.
So..sure when u are 40 you can get like 4000euros\month but how u lived before?
Then...are you so sure that u will get one of the few works that give u 4000 each month? and for sure u have to be one of the best or have some friends...
because if you don t get one of that 4000 euros\month work you will be stucked at 40 with a work that gives you 1500 each month and rent is around 750.

Thremp · #**112** 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 · #**113** 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 · #**114** 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 · #**115** 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 · #**116** 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 · #**117** 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 · #**118** 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 · #**119** 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.

Thremp · #**120** 11-24-2007, 07:27 PM

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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.

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Scorecard.