Financial advice for young and wealthy
 

After seeing Newt_Bugs post on what young players do with their money, I offered my help to the younger posters with some free financial advice.
I received a few responses, so I figured I would expand on the project slightly.

What: I am going to start a small e-mail group, to help the young (or old) newly cash rich internet poker pros manage their money. Basically, my goal is to teach the really important concepts of money management in a very poker oriented way. I already work as an analyst / portfolio manager for a financial institution, unless someone has 1M$+ in assets, I can not bring them on as clients. Also, I don't want to deal with the ethical problems of doing actual fee based money management outside of work, so this is going to be a teaching endeavor only.

Why: Not to sound old (I'm only 27), but I want to look out for the young guns in the game (and most importantly on this forum). About 90% of the financial advice out there is pure garbage, and that is only within the financial industry. You add in the thousands of other people who see a young kid with 20 grand in the bank, as an easy target, and there is plenty of bad advice out there. I use the poker expertise of the young players to pad my ROI, at least I can share my expertise with them

What's in it for me? I would appreciate if anyone who decides to take me up on the offer, would be willing to provide me with a little coaching. Whatever you feel like doing is fine with me, review a few HHs, general lessons, etc.

If anyone is interested, PM me, and I will add you to the email list. I would be willing to post some stuff on the forum if there is enough interest.

Tom

Re: Financial advice for young and wealthy
 

I'm 20 and I don't know anything about the stock market or investing or any of that stuff. They didn't teach that in political science classes, unfortunately. I would be definitely interested in being on your email list, although I definitely won't have 20K in the bank (all my winnings are going towards gradschool debt). I'll look at whatever HH you need.

Re: Financial advice for young and wealthy
 

BTW, I was throwing out the 20K as an extreme example. This will benefit anyone who wants to understand finance better.

Also, it is open to everyone, even if you dont feel like you are qualified to offer poker advice in return. This is more about me giving back to the forum. But thought i could squeeze some advice out in return [img]/images/graemlins/wink.gif[/img]

Re: Financial advice for young and wealthy
 

PM Sent, I think this is a great idea, and we should really get this thing in motion!

Re: Financial advice for young and wealthy
 

yo if you want to give me some financial advice i am down.

I can help with SnGs if need be. Thanks.

-stealyourface

Re: Financial advice for young and wealthy
 

This sounds like a great idea. Although right now, like gildwulf, most of my poker profits are paying for school, I plan on investing some of it soon. I'm an economics major so I have a general idea about how financial markets work, but nothing very specific/practical. I really want to learn and this sounds like a good oppertunity. Thanks for the offer!

Re: Financial advice for young and wealthy
 

So buying a Porsche 911 with my poker winnings is a bad investment? [img]/images/graemlins/grin.gif[/img]

Re: Financial advice for young and wealthy
 

[ QUOTE ]
So buying a Porsche 911 with my poker winnings is a bad investment? [img]/images/graemlins/grin.gif[/img]

[/ QUOTE ]

Actually, that is lesson 3 in my plan.

In between swimming pool filled with Crystal, and a robot....a female robot

Re: Financial advice for young and wealthy
 

This is exactly what i need [img]/images/graemlins/cool.gif[/img]

Re: Financial advice for young and wealthy
 

PM sent, this is great.