Poker and Life

[WichitaDM]

One big idea i have had is investing in real estate most likely rental type properties with cashflow, and as time goes by transitioning slowly away from poker into that. I figured the first step to that was buying a house for myself, soon i will be able to look into buying real estate that is more of an investment.

[sweetjazz]

Keep in mind that many people believe we are at the end of a housing bubble. Do your research before you make your investments.

Good luck with whatever you do.

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Basically im stuck. Im stuck because going from 150-200k a year to 30-40k a year is a huge difference.

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What about getting a job where you don't have to work that many hours? It would be a good break from playing Poker full time and you wouldn't have to give up your insane (150k-200k) poker profitability.

[AceofSpades]

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Basically im stuck. Im stuck because going from 150-200k a year to 30-40k a year is a huge difference.

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I'd like to have this problem. Just curious, what stakes/games are you playing now and how did you arrive at this point? Your parents/family/girlfriend are probably more concerned about the possibility of you not making steady income, or the possiblity of you losing it all on a downswing. With that kind of money, if you save aggressively enough for a little while, you probably could easily invest enough to give you a pretty much safe income for life. Once you do that, then you are pretty much free to continue doing poker, but you don't have to do it to pay the bills, you'd have the opportinity to pursue other interests (like a fulfilling job/travel/hobbies/volunteer since you won't have the pressure of having to make money. When you get to the point of having 40k or so, steady income coming in, I think that would reassure your parents.

Is the reason you don't feel like you am "doing something with your life" because you are home most of the time playing online and not really doing much else? Or just because your career is not a typical one? I would say that a lot of people find meaning/enjoying social interaction from a career. If that is something you want/are not getting from poker, then having enough passive income coming to cover all expenses in would totally free you up to find meaningful things to do with your time. Retired people do it, but it does take a little adjustment or so I have heard.

Joseph

[onegymrat]

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One big idea i have had is investing in real estate most likely rental type properties with cashflow, and as time goes by transitioning slowly away from poker into that. I figured the first step to that was buying a house for myself, soon i will be able to look into buying real estate that is more of an investment.

[/ QUOTE ]This is a wonderful idea. Make your money work for you. Of course you will have to do your homework and invest wisely. Start with one property and rent it out, and then keep expanding. The postive cash flow you have working for you will make your life less dependent on poker, while the money coming in will sure be easier than flopping sets. Good luck.