Re: What to do with a Child who plays SNG\'s?
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This would be a dick move, I say let him play as much as he wants until it begins to intervene with other things he needs to be doing.
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how is this a dick move?? do you remember having 1000 dollars when you were 9.. Imagine the education you could have paid for had you invested a simple 1000 at age 9 into some sort of rolling CD's or into a 10 year trust. But your right, trading a future for a chance to move up to the 20's is the right move.
But im just a donk
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I don't necessarily disagree with your suggestion of putting aside the money for college. But let's not get carried away at how much $1000 is worth.
If you earn 10% anually (which is btw very dubiuos unless it's in stocks, which would mean higher variance), $1000 will be worth $2593.74 in ten years.
Not chump change. But that would not have paid for one year of college at my public university when I went to school 15 years ago.
I agree that putting aside money for college is good because it keeps him from having delusions of grandeur due to his bankroll and because it encourages great money management skills.
But let's not lie about the facts: if his SnG ROI is even a paltry 5%, moving up would, indeed, make more money towards college than any rolling CDs ever could.
Again, debates about whether this would be wise is an entirely different discussion.
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