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Old 09-22-2005, 06:00 AM
Nightwish Nightwish is offline
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Join Date: Mar 2004
Posts: 182
Default Re: Advice From Current Pros- Quit a $100K Job? (long)

Don't do it. Coming from a pro, here are bunch of reasons why you should keep your job.

First, it sounds like you're on a good career track. Quitting will take you off that track and it'll be hard (if not impossible) to get back on.

Second, if the online games start dying for whatever reason, it'll be tough for you to come back to work with that gap on your resume.

Third, why not keep poker as a side hobby -- a very profitable hobby, but still a hobby? It sounds like you have plenty of time for poker on the side, so keep it that way. Trust me when I tell you that the game isn't nearly as fun when you feel that you have to put in a certain number of hours or play a certain number of hands per day.

Fourth, what are you going to do about medical insurance? This is a serious issue. Go ask any small business owner or sole proprietor about the hoops they have to jump through to get good insurance. And if you, your wife, or your baby have any pre-existing conditions, do not even think of quitting your job.

Fifth, does your company contribute anything towards your 401(k) or make some other contributions to your retirement? How about vacations, do you get those? Did you add in their value when calculating your law salary?

Sixth, did you consider the life of a poker pro besides just thinking about the freedom? Sure, you can work in your underwear if you want to, you can take off in the middle of the day if you want to, etc. But let me tell you something else that may surprise you: many pros get to keep 9-5 hours. There's only one problem. That's 9 PM to 5 AM. Why? Because that's when the games are often the best (I'm using PST here). Are you prepared for this? Are you prepared to be getting up after noon on a regular basis? Do you know what this is going to do to your social life? Oh, and are you prepared to play on Friday and Saturday nights instead of doing something else you'd rather do? Because as a pro, you'd be crazy not to play on Friday night -- by far the juiciest night of the week.

Seventh, it's very difficult to play as many hours as you're thinking you're going to play. To drive the point home, do this exercise. First, calculate what you expect your annual poker salary to be if you were to play full time. Next, divide that by 2. That second number will be far closer to your true salary than your original optimistic projections. Trust me, I've been there.

Eighth, there's a lot of stigma associated with playing poker professionally. Yeah, you may say you don't care what others think. And I say that I don't buy it. Are you willing to put up with all the snide remarks from your family, your wife's family, people you meet at cocktail parties, etc.? More importantly, is your wife willing to put up with it? For the majority of people in this world, including the educated folks in your circles, "poker pro" still translates to "loser." Not necessarily loser as in losing player, but loser in life.

Don't get me wrong. There are people for whom a career as a poker pro may indeed be a great idea. There are many more others for whom poker is much better kept as a side job. From the way you described yourself, you are definitely in the second category.

So what should you do about the fact that you're bored at work? Well, many people are and most keep slugging away. Of course, you can also be proactive about it in ways other than quitting to become a poker pro. You can start transitioning into another area of law practice, you can start looking into a career in business, etc. Only you know which of these things are appropriate for you.
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