Re: Playing for a living formulae
 

Been doing it my whole life, or even less. And heck I have a degree in Comp. Sci. and have worked an many Fort. 500's including IBM itself. Because I had to. Best I ever did was about 100K a year during the Y2K debacle when mainframe programmers were in short supply. Most years 50-60K as more typical recently.

6K/month nut means you have to earn soemthing in the six figures a year right?

Most folks don't earn six figures.

I'd say you're in the upper class and appear clueless about most folks lives.

No disrespect intended. Just waking ya up to reality for the majority.

And you know what. It f'cking sux. 20 years as a degreed professional in corp. USA and still having to consider money issues and wondering "when do I get to the upper class life I was aiming for?"

Far as I'm concerned Wall Street has screwed most of us... more severely since the '87 crash to be sure.

We ought to be revolting against it. But we're sheep. Or perhaps more correctly the fishies of the upper echelon. LOL!

Anyway, so when I read, Ed Miller saying folks make 200K playing poker, I have to wonder how stupid am I that I've read his stuff and struggle to break even.

Or those folks that talk about how awful life is as an online pro.

I say screw being a working class slave. If you are making high five or six figures at poker, count your blessings.

Anyway, I actually agree with you. Given home prices today, a 6K nut is realistic for a family man. A 6 figure income is almost mandatory these days to live decently. But the freaken job market doesn't support it in general. And most folks are trapped.

For several decades now a home has been a two-average-incomes proposition.

So they ship jobs overseas and are trying to make us compete dollar for dollar with labor costs in India... but are prices for the basics going to come down in line with that? Fat chance. (What's the probability of that all you math wizards?)

We ought to be holding our leaders feet to the fire on these issues.

But again. We are thier fishies.

Re: Playing for a living formulae
 

[ QUOTE ]
Far as I'm concerned Wall Street has screwed most of us... more severely since the '87 crash to be sure.

We ought to be revolting against it. But we're sheep.

[/ QUOTE ]

[ QUOTE ]
So they ship jobs overseas and are trying to make us compete dollar for dollar with labor costs in India... but are prices for the basics going to come down in line with that? Fat chance

[/ QUOTE ]

Then

[ QUOTE ]
I have to wonder how stupid am I that I've read his stuff and struggle to break even.

[/ QUOTE ]

I dont wonder.

Oh, and in regards to
[ QUOTE ]
Or those folks that talk about how awful life is as an online pro. I say screw being a working class slave. If you are making high five or six figures at poker, count your blessings.

[/ QUOTE ]

I make 6 figures but will hopefully quit playing altogether as soon as I graduate, and will be happy to make 45k or w/e. At least thats how I feel now. I am investing and saving half my income in preperation for this.

Re: Playing for a living formulae
 

[ QUOTE ]
I'd say you're in the upper class and appear clueless about most folks lives

[/ QUOTE ]

I wouldn't say I'm upper class, We live way below our means and about the only out of line thing thing I have is my car.

I wasn't sure exactly what my monthly nut was so I figured it out and it was close. It was $6,600.00 This does not include things like going out, household repairs, dentist bills clothes, hair cuts, toys for my daughter, toys for me etc. etc.
I'd say that once you added up all the other misc expenses
that are not listed here I'd be closer to 8K/month unless we became hermits.

Morgatge and prpoerty taxes$2,249.17
Car #1 936.82
Car #2 308.59
Car Insurance 308.59
House Insurance 20.75
Gas (auto) 600.00
Utilities 150.00
Phone 60.00
Cell Phone 50.00
Cable/Internet 110.00
Gym memberships 105.00
Groceries 1,000.00
Daycare 700.00


Other then the 1 car I can't see any expenses that are out of line. Maybe I just don't have a clue?

Re: Playing for a living formulae
 

A $936 a month car payment? WTF do you drive, a Lamborghini?

Re: Playing for a living formulae
 

that mortgage looks high to me too...but i guess you'll pay off your house faster of course.


i don't currently lead the most luxurious life and I have no kids...so my expenses are certainly much less than most.
Similar to that of a single, just-out-of-school, bachelor.
My car is entirely paid off. It's a piece of crap and I will be purchasing a new one in the near future.
Also note that I don't drive very much since I work from home.


rent - $500
heat/elect/phone/cable/internet/health ins - $600
food (grociers and dining out - $1000
car expenses (gas/maintenance/insurance) - $300
other - $300

(other includes my cat, soccer-league fees, cleaning products, toiletries, etc....this figure could more realistically be as little as $100/mth I think)


so my total monthly nut is around $2700.

And I think this is a little bit of a stretch because I think I am high on a couple of figures.

Of course, there are unexpected expenses....and I take more vacations than most which I don't count in my monthly-nut. These trips come only if I feel I can afford them.
Perhaps I should include them in the nut...not sure.


anyway, if you are young and live with a roommate or significant-other to cover almost half of these costs then you could easily be in a situation where your portion of the monthly-expenses is $2k.

Re: Playing for a living formulae
 

Quote:
--------------------------------------------------------------------------------

A $936 a month car payment? WTF do you drive, a Lamborghini?


--------------------------------------------------------------------------------



Lol, I wish. I drive a 2005 Jeep Grand Cherokee, I paid 57,000 for it. By the time you add on interst and taxes it comes up to $936/month. My fiance drives a G6.

My morgatge isn't really all that high, $1,900/Month without the taxes, and we are not making any extra payments.

It's a simple 3 bedroom housse, nothing fancy.
I live in the GTA area which is pretty expensive

I should also mention I live I Canada so you can take off about 15%, I'm talking Canadian currency.

But then you have to figure that everythign we buy has 15% sales tax added on top of it compared to the US 5% or so I believe so there isnt really all that much differnce in the $$ values.

The car is pretty expensive, I concede that point but we are allowed to have some toys are we not?

Re: Playing for a living formulae
 

what's so complicated? figure out your expenses-- that's what u need to stay alive.

Re: Playing for a living formulae
 

Ummm....no, you can't just tack on the taxes and say that Canadian is 'about the same' (even though the American dollar is weaker these days).
We kind of get taxes down here too.

The revelation that you're talking Canadian currency does make a difference.



"GTA"???

Greater Toronto Area??
Grandest Trans-sexual Association??
Global Trade Agreement??

Re: Playing for a living formulae
 

I'm from Canada too, but that car payment seems outrageous to me regardless. I used to drive a 2002 Dodge Dakota, leased brand new with no money down, and my payment was only $550 including taxes.

I get that GTA (greater toronto area for the non-canucks in the audience) is expensive so your living expenses don't seem too out of line. I just can't get over that car payment.

Re: Playing for a living formulae
 

[ QUOTE ]
I'm from Canada too, but that car payment seems outrageous to me regardless. I used to drive a 2002 Dodge Dakota, leased brand new

[/ QUOTE ]

I bought my car, you leased yours. I have had a dodge dakota in the past. The Dakota is a lot cheaper then the Jeep. By the time you tack on the taxes it was over 60K. It was a 5 year loan with about 10K down