What do the young ones do with their money?

[Stephen Gray]

I agree. School is good.

[Mr_J]

190 in addition to what you made off poker??? V nice.

I'm actually aiming to turn $1k cash into mid 6 figs+. Sounds crazy but it's actually pretty doable:

3hrs each day for the rest of the year at $125 an hr. That's from august, I'll be spending the rest of july improving my game for the 109s and building my BR a bit. This totals 56k, say 50k.

During this time I use my spare capital for sports, I should be able to make at least 20-30k, so now I'm at say 70k.

'06. In sports double the first 6 months, that's 140k

$125 an hr 3 hrs a day. First 6 months is 70k, total of 210k

sports, double again the next 6. That's around 420. Second half of year for poker nets 70k for a total of $490k going into '07.

I only need 2.7% growth per week to get that 400% for sports in '06. So I hit 54% over the 3000+ bets I'll make next year (for +90 units) worth 1.5% per unit and I achieve this. This is only for actual picks (of course most aren't my own), and doesn't include any of the other many ways to profit at sports.

In reality I hope to get a better return off sports and to play less poker (since $100+ an hr of poker isn't worthwhile when you make $1k+ per hr off something else).

[Mr_J]

I'm a high school drop out.

[Stephen Gray]

School is still good.

[runner4life7]

I like to think that and im going to be a junior in nuclear engineering at uw-madison, but it seems for how much work and knowledge it takes for nuclear engineering or any "real" major, compared to poker its not worth it. I should be looking for classes about investing and the stock market not thermodynamics and nuclear physics...

[pergesu]

I lost it all at the $33s.

When I'm running hot, I blow it all on hookers. Somehow it's legal though. They just call em "dates"

[morello]

[ QUOTE ]

I hoard the money and never spend anything basically. I don't need anything anyway.

[/ QUOTE ]

[ QUOTE ]
I don't want to spend any signifigant money unless absolutely mandatory. The more money I have the better I play and the higher stakes I can play for. It's really a huge advantage IMO to play when the stakes mean very little to you.

[/ QUOTE ]

Curtains explained my situation almost exactly. My only luxury purchase so far as been an ipod. Also, I sometimes buy the good orange juice (not from concentrate!).

[chisness]

admittedly i've got a spending problem and i think this actually might be a good thread to fix that in

i have a tendency to make tons of impulse purchases and while i generally do use all the gadgets i get, i know i'm being wasteful

since i don't intend to move past the $50s and thus don't need more than 5k or so reserved for poker, does anyone have any investment suggestions?

i have some college loans to pay off but really have no idea how to invest the rest:

mutual funds? stocks? money market? cds?

if stocks/mutual funds, how do you do your research?

[1C5]

Sports?

Never done that, what site do you use and what kind of bets?

[stupidsucker]

I am 28... Is that Young?
I still feel young, and I look like I am 18 when I shave (rare). The object of my affection is 21. A lot of my money went to flying her to Vegas 1-2 times a month. Money well spent.

I have used my money to be lazy in the past year, and this is exactly what I wanted. Now that time has passed and I am moving on to prepare for my future.

Goals include
paying off the remaining debt I have (20k down 15k to go)
Raise my Fico Score
Raise my Bankroll to a UltraUberUtopia level of comfort
Save up 100k (outside the forementioned bankroll)
Buy a house
Go to School
Continue to study and play in larger buy in events


I guess I am old [img]/images/graemlins/frown.gif[/img]

The true test is if I do it....