Should I go back to school?
 

Well, school here at the University of Oklahoma started back today, and I have still not decided whether or not I will attend classes this semester.

Here is some background info: I started college 4 years ago on full academic scholarship (plus living expenses/cash stipends) cause I took tests real well . I started out majoring in Physics and was a straight-A student for my first 3 semesters. I then realized that I didn't want to work in a lab the rest of my life and started exploring other majors (this was also about the time that I started playing a ton of poker). So I took 2 semesters of econ classes, then last semester, I started making a substantial income through poker. At this point, I stopped attending classes and basically flunked. I still recieve a full tuition waiver, and if I made up the 12 hours I lost I would recieve all the other scholarships back too (although, I am not worried at all about the money).

Also, I got married this summer, and my wife is a second year pharmacy student. Our plans all along have been to purchase a hometown pharmacy when she graduates and I run the business part while she does the pharmaceutical stuff. This, combined with the fact that I have made so much money from poker, leads me to lean towards not going to school for now. Also, I understand that poker may not be there for me in 5 years, BUT SCHOOL WILL. I am investing alot of my money right now, and would have no trouble footing the bill in a few years if I do try and go back. It just seems like an undergrad degree is so worthless these days, and I really can't think of a postgrad program I would be interested in.

Thoughts?

Re: Should I go back to school?
 

If you pass on school now you are a huge favorite to blow it off forever.

Re: Should I go back to school?
 

You might get better responses if you tell people the stakes you're playing so they don't assume you're grinding $3-6 or something.

Re: Should I go back to school?
 

Nothing personal, but I don't know if I'd want you running my pharmacy.

Maybe you should get a business degree. If nothing else, it'll give you a baseline of knowledge about running a business.

Of course, you may have some business experience that I am unaware of. If so, fine. I'd still recommend that you go back to school and get a degree. ANY degree.

Re: Should I go back to school?
 

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If you pass on school now you are a huge favorite to blow it off forever.

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Unless you're serious, this statement couldn't be more right.

Re: Should I go back to school?
 

I play 215 SNGs, and step 5s. I also play 109 and larger multis.

I have made a little over $200,000 this year.

I do have some business knowledge. My father owns his own businesses, and will be helping me run the pharmacy til I get everything under control. It's not that complicated to run the business side of it anyways.

Re: Should I go back to school?
 

Finish school now! You will have plenty of time to play poker and make $$$ over the next 50-60 years. Get your degree, this will give you something to fall back on if poker and/or the Rx thing don't pan out.

Do you really want to explain to a potential employer you took 6 years off from school to play poker and screw around (maybe not reality, but definitely perception), but now are ready to settle into a serious job?

Re: Should I go back to school?
 

Take 6-9 credits a semester until you finish your business degree. Play poker with the rest of your time which will be quite significant.

Re: Should I go back to school?
 

I really disagree with everyone who is saying go back to school. If you love poker and don't love school, and you are making plenty of money, I don't see any need to go back to school. I think way too many people go to college because they are supposed to, rather than because they want to.

Re: Should I go back to school?
 

Get an MBA.

MBA = $$$.

Re: Should I go back to school?
 

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I do have some business knowledge. My father owns his own businesses, and will be helping me run the pharmacy til I get everything under control. It's not that complicated to run the business side of it anyways.

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Businesses run by knowledgable people fail every day. What happens if online poker falls through and you get divorced (I know,I know. You're in love). What's your fallback? Having a backup plan (i.e. a college degree to fall back on to obtain a job) is like having insurance. Nobody hopes they need it but if you do...

It doesn't really matter what your degree is in, only that you have one. Most jobs require a degree, not because a degree proves competence but because the lack of one usually means lazy ass bastard to a potential employer. Given your future plan, I would think a business or accounting degree would be an excellent use of your time.

Re: Should I go back to school?
 

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I really disagree with everyone who is saying go back to school.... I think way too many people go to college because they are supposed to, rather than because they want to.

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I think way too many people obey the laws [pay their taxes, be nice to people, don't steal from other people, etc] because they are supposed to, rather than because they want to.

Re: Should I go back to school?
 

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I have made a little over $200,000 this year.

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Why run a small business if you have results like this from playing poker? Just curious...

Re: Should I go back to school?
 

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You might get better responses if you tell people the stakes you're playing so they don't assume you're grinding $3-6 or something.

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either way, if you've been in for 4 years, might as well finish up. How about take some business classes so you actually know how to run that business. What if the business fails and so does poker? Seems like it would be good to have that fully paid for degree....

Re: Should I go back to school?
 

Do what makes you happy. If your wife supports your desire to play poker for a living and you can run the business side of the pharmacy, then give that a go. You can always go back to school if it doesn't work out.

"We don't choose our destiny, it chooses us" - Professor Petrovsky, Rounders

Re: Should I go back to school?
 

I don't think you should go back full-time. Your heart is obviously not in it, and I know from first-hand experience that if your heart isn't into University, you'll have almost no chance of succeeding. If you're making $200,000 a year playing a game, it's hard to motivate yourself to take the time required to obtain a degree. School becomes less of a priority in these circumstances.

I *would* recommend taking 1 or 2 credits each semester, though. It'll keep you moving towards your degree (albeit slowly) and it isn't very hard to do well when you are only taking 1 or 2 credits, even if you have other priorities in your life at the time. When the time comes for you to finish off your degree, the 1 or 2 credits you took each semester will mean that you are that much closer to the light at the end of the tunnel, and might make it more likely for you to go back full-time to get it done.

Re: Should I go back to school?
 

If you are not going back to school now and choose poker + Rx business...

Why not save up enough money to add on top of your emergency fund so you can go back to school and get a degree in something you enjoy later.

Making 6 figures playing poker should be more than enough to fund your E-fund + future school costs so that if poker or the business falls through you have the backup money to go back to school.

You said it yourself that school will be there for you to go back to if needed. Just make sure you have it funded just in case if you decide not to finish now.

A bonus will be if your business venture succeeds the money you banked for school could be used for many other ventures:
retirement fund, school fund for little you's, another business, add to your bankroll to move up in stakes....

Re: Should I go back to school?
 

A few things...

First, it's not like running this business is going to be a full time, or even difficult or dangerous job. We are going to purchase an already started, successful pharmacy from a friend of ours (he's over 60 and getting ready to retire). He clears a large amount of money from this pharmacy every year, and the business part of it is minimal at best. There is a very small chance of it failing, and I still plan on playing poker for a while.

Also, it seems most people agree that I should have a degree, but what I don't understand is why I should get it NOW as opposed to later if/when I need it. Someone said "finish school now, you'll have plenty of time to play poker later." Well the problem is that poker may not be here for me in 5 years (it could dry up), whereas school will be there forever. I am saving/investing alot of my money so that I can go back later if I need to.

School just seems so pointless for me right now, and I really enjoy poker.

Re: Should I go back to school?
 

The two shouldn't be as exclusive as you are making them, especially with the scholarships you have. PLay poker, make 125k/year, and finish school.

Gabe

Re: Should I go back to school?
 

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The two shouldn't be as exclusive as you are making them, especially with the scholarships you have. PLay poker, make 125k/year, and finish school.

Gabe

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Why? What advantages does getting a degree now have? Obviously it will make me less happy, so what are the reasons for getting a degree NOW?

Re: Should I go back to school?
 

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I do have some business knowledge. My father owns his own businesses, and will be helping me run the pharmacy til I get everything under control. It's not that complicated to run the business side of it anyways.

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Businesses run by knowledgable people fail every day. What happens if online poker falls through and you get divorced (I know,I know. You're in love). What's your fallback? Having a backup plan (i.e. a college degree to fall back on to obtain a job) is like having insurance. Nobody hopes they need it but if you do...

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Very good point.

I wonder how much experience the OP has with pharmacies. I have quite a bit of experience with various aspects of the pharmacy industry. I would not consider a hometown pharmacy to be a good long term investment. You will be stuck between two very important and powerful players: the drug companies that set your drug costs (which continue to climb) and the insurance companies that set your reimbursement rates (which continue to decline). A sole proprietor has very little negotiating power with either. I am not a fan of the big pharmacy chains but one of the primary reasons they continue to grow and consolidate is to have greater negotiating power with the drug and insurance companies.

Re: Should I go back to school?
 

basically it sounds like you are looking for any excuse to not go to school. if that's the case, then don't go. go when you want to.

maybe just take 1 course to see how you like it. get your foot in the door

Re: Should I go back to school?
 

[ QUOTE ]
Well, school here at the University of Oklahoma started back today, and I have still not decided whether or not I will attend classes this semester.

Here is some background info: I started college 4 years ago on full academic scholarship (plus living expenses/cash stipends) cause I took tests real well . I started out majoring in Physics and was a straight-A student for my first 3 semesters. I then realized that I didn't want to work in a lab the rest of my life and started exploring other majors (this was also about the time that I started playing a ton of poker). So I took 2 semesters of econ classes, then last semester, I started making a substantial income through poker. At this point, I stopped attending classes and basically flunked. I still recieve a full tuition waiver, and if I made up the 12 hours I lost I would recieve all the other scholarships back too (although, I am not worried at all about the money).

Also, I got married this summer, and my wife is a second year pharmacy student. Our plans all along have been to purchase a hometown pharmacy when she graduates and I run the business part while she does the pharmaceutical stuff. This, combined with the fact that I have made so much money from poker, leads me to lean towards not going to school for now. Also, I understand that poker may not be there for me in 5 years, BUT SCHOOL WILL. I am investing alot of my money right now, and would have no trouble footing the bill in a few years if I do try and go back. It just seems like an undergrad degree is so worthless these days, and I really can't think of a postgrad program I would be interested in.

Thoughts?

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Go back to school, and its not even close. The fact that you can go back basically for free (and you might not be able to later) only sweetens the deal. Just because you are playing poker for a living now does not mean that you will want to do that forever. Higher Education is ridiculously +EV, especially considering the minimum costs to you, and the fact that you can still play some poker, just do it in moderation. (I'm a law student and I only play during the summer, and on breaks now).

Re: Should I go back to school?
 

there are no real reasons to get a degree at THIS particular moment in your situation. even if the poker games "dry up" in a few years, you could probably still clear 50-100k a year while you go back to school (and that's only if everything else goes to hell, divorce, lose the business, etc). plus, you will have a substantial amount of money to live on in 5 years anyway. only continue school right now if there is something specific you want to do right now that requires a degree.

Re: Should I go back to school?
 

Sounds like you already had your mind made up and were just looking for others to agree. I think you should think long and hard at it. You don't have a lot longer to go to finishing your degree. You'll feel good about yourself if you follow through with your initial commitment to going to school. A college degree is a lot more than just the education. It is a life shaping time in your life and will show you have the ability to start and finish a huge task.

Good luck either way.

Re: Should I go back to school?
 

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Get an MBA.

MBA = $$$.

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BS. MBA from a top B-school = $$$. other MBA = nothing.

Re: Should I go back to school?
 

Continue playing poker until you feel 'burned out'. You have made $200,000 in eight months. Last I checked school does not pay anything close to that. School will always be there and it does not sound like your heart is currently in it.

Your wife and business could support you if/when you decide to go back for your degree. A college degree is greatly overrated, especially if you own your own business. How many people have asked business owners 'if they have a college degree'?

Thank you,

Jim Kuhn
Catfish4u
[img]/images/graemlins/spade.gif[/img] [img]/images/graemlins/diamond.gif[/img] [img]/images/graemlins/club.gif[/img] [img]/images/graemlins/heart.gif[/img]

Re: Should I go back to school?
 

Should you go back to school? IMO, no.

College is for high school morans who lack direction in life. Degrees are just written "proof" that you fulfilled a certain amount of coursework.

It seems like you are intelligent, disciplined, and already ready to run your own business. You already have a slew of skills that most college grads don't have. So I say go ahead with the pharmacy thing and BE SUCCESSFUL.

Re: Should I go back to school?
 

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The two shouldn't be as exclusive as you are making them, especially with the scholarships you have. PLay poker, make 125k/year, and finish school.

Gabe

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Why? What advantages does getting a degree now have? Obviously it will make me less happy, so what are the reasons for getting a degree NOW?

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so you don't kick yourself later for passing up a free education to make some short term money.

Re: Should I go back to school?
 

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College is for high school morans who lack direction in life. Degrees are just written "proof" that you fulfilled a certain amount of coursework.

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This is wrong on so many levels.

Edit: Unless I'm missing some sarcasm. And I sincerely hope that I am.

Re: Should I go back to school?
 

This is a pool I wont answer. This is up to you. If you make a dissision which is nor your own then you always will think, what if I would not listen to 2+2 and done the other thing.

Finish school is always good but it is hard to get good grades (or any grades at all) or learn anythin if you whish to play poker instead of reading... It is all up to you!

Re: Should I go back to school?
 

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Also, it seems most people agree that I should have a degree, but what I don't understand is why I should get it NOW as opposed to later if/when I need it.

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People are encouraging you to get it now because once you have been away from college for a few years, it will be almost impossible to go back. You are going to be working, playing poker, married, perhaphs children some day, older than the other students, earning too much money to go back to school, etc. etc.

This isn't a situation where you're just starting college. You already have 4 years of credits and your education is paid for.

There's a lot more about a college degree than simply comparing your potential earning power to your current income. There are a lot of intagibles invovled. The people on this board cannot weight those for you -- only you can. And you must make sure that you are being completely honest in your assessment.

Good luck.

Re: Should I go back to school?
 

Go back to school when you are ready to go back to school and are ready to benefit from it.

I didn't go to college right away after high school--I wasn't ready. I spent some time in the military and then later I took my shot at fulfilling my life-long dream of being a professional fighter. My professional kick-boxing career was short-lived (ouch!) and it was then I decided to go back to school. It was a good thing for me to go to school a few years later. I went when I wanted to and was enthused about going. I got a lot more out of it than I would have had I gone because it was "the right thing to do." Even though I didn't do great in high school, by delaying college until I was enthused about going, I wound up getting a better education and enjoying it at the same time. I spent two years getting good grades in a community college followed by attending and graduating Stanford University. I'm glad I waited--it allowed me to get a great education that I could not have possibly received earlier.

Good Luck to ya!

Re: Should I go back to school?
 

I voted no.
It sounds like it will make you less happy now.
You sound like you have no problems going back later in life.
A degree isn't a job guarantee (at least where I live).

Re: Should I go back to school?
 

I would definitly go back to school, even though I know what it feels like to be in that kind of situation you are right now. I was in about the same situation last year and really thought that I would be making a living of poker playing. I did for at least six months and then the odds turned against me. I was losing money, and losing money , ...
My personal situation changed as well an suddenly I had to work in underpaid jobs I didn´t like. I had three jobs at a time and life was hell. I somehow got out of that but all I was thinking back then was "why didn´t I finish school" I wouldn´t close that door if I were you, it´s just one more option you have if you finish school and having one more option makes you better then the rest.
all the best
tess

Re: Should I go back to school?
 

I voted the correct answer: No.

This isn't even debatable in my opinion. You said you have made $200,000. With that you can at least buy a decent house in middle-class Oklahoma for around 100k. Obviously you will need insurance which won't be too bad and pay utilities, but with the money you have in your pocket right now you are set for years.

Do what you're doing now, and then in five years it doesn't work out you can go back to school. People say you won't go back to school if you leave for a few years. It depends entirely on the situation. Most people who leave college go into a sorry work field and live a very low class life and do not have many options. They don't have the option to go back to school when they are paying rent on an apartment or monthly payments off a house and must have a job to survive.

If in five years the poker deal isn't working out, you go back. But for now you can have a house payed off which is the most important investment you'll have, and you give something you actually want to do a try.

Re: Should I go back to school?
 

What happens when you get divorced because your poker career crumbles. You would be left with nothing. Get the degree, you will have the safety of always being able to get a job in the future.

If you really dont want to go to school, we cant stop you, but the right thing to do is what ggbman said.

Re: Should I go back to school?
 

It seems obvious that you don't want to go back to school. Plus you're not really sure on the direction/subject you'd like to major in. I'd continue to take a very light load of 1 - 2 courses and play poker full time. Perhaps you'll find a subject that really interests you while you take advantage of the poker boom.

Re: Should I go back to school?
 

[ QUOTE ]
I voted the correct answer: No.

This isn't even debatable in my opinion. You said you have made $200,000. With that you can at least buy a decent house in middle-class Oklahoma for around 100k. Obviously you will need insurance which won't be too bad and pay utilities, but with the money you have in your pocket right now you are set for years.

Do what you're doing now, and then in five years it doesn't work out you can go back to school. People say you won't go back to school if you leave for a few years. It depends entirely on the situation. Most people who leave college go into a sorry work field and live a very low class life and do not have many options. They don't have the option to go back to school when they are paying rent on an apartment or monthly payments off a house and must have a job to survive.

If in five years the poker deal isn't working out, you go back. But for now you can have a house payed off which is the most important investment you'll have, and you give something you actually want to do a try.

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I think this is the correct answer.

Re: Should I go back to school?
 

And if you are going to be taking over a business, you don't need college. If your road is business, then you don't need a degree. If that fails you then need another option and that is a degree.