Re: IRA Help for a Professional Poker Player
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your bankroll is also an asset, are you already counting this? if so, you need to learn to live below your means a little...
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I'm 21 and worked for near minimum wage until about March of this year when I went pro. From march to about June, I was a low limit donk. From July to November I made $120,000.
Out of that, I've saved $48,000 for taxes and have another $40,000 in my bankroll/savings. Did you really want me to live on less than $32,000? I had to buy a new car, move into a new place, furnish it, etc during the time as well. I don't think I've done so bad though I do admittedly travel too much. But I wouldn't have it any other way.
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