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#1
11-23-2005, 05:25 PM
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Re: What to do with a Child who plays SNG\'s?
[ QUOTE ]
[ QUOTE ] Re: What to do with a Child who plays SNG's? [/ QUOTE ] Get him a 2nd mom for Christmas and start paying off the mortgage. [/ QUOTE ] fyp 
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#2
11-23-2005, 03:42 PM
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Re: What to do with a Child who plays SNG\'s?
I think you have a responsibility to making sure you keep it under control. You are the parent, and if you see it is getting out of hand or interrupting school work, you need to intervene. I also think that you have to help him develop the discipline and money management that he will need to keep things under control. This, especially at his age, is just as, if not more important than helping him develop poker skills.
Beyond that, I think it's good that he's doing so well at it. It's nice finding something that you and your son can enjoy doing together. Good luck to the both of you.
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#3
11-23-2005, 03:45 PM
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Re: What to do with a Child who plays SNG\'s?
Tell him that his bankroll has grown enough that he can now play a new game called the "college savings account" in which his money makes itself. After this give him his initial 100 back and keep him playing at a small level as you obviously have no qualms about him gambling in the first place. Perhaps this is where you want to instill some bankroll management skills that could actually become helpful later in life when he realizes you cant retire on pocket aces.
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#4
11-23-2005, 03:50 PM
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Re: What to do with a Child who plays SNG\'s?
[ QUOTE ]
Tell him that his bankroll has grown enough that he can now play a new game called the "college savings account" in which his money makes itself. After this give him his initial 100 back and keep him playing at a small level as you obviously have no qualms about him gambling in the first place. Perhaps this is where you want to instill some bankroll management skills that could actually become helpful later in life when he realizes you cant retire on pocket aces. [/ QUOTE ] 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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#6
11-23-2005, 03:53 PM
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Re: What to do with a Child who plays SNG\'s?
[/ QUOTE ] 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. [/ QUOTE ] 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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#7
11-23-2005, 04:49 PM
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Re: What to do with a Child who plays SNG\'s?
[ QUOTE ]
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 [/ QUOTE ] 1000 after 10 years will be 4000 if he's lucky. Not much to get excited about considering how much college will cost in 10 years. Whether I let him keep playing depends on what his attitude is. Does he want to learn the skill to beat the games? Or is he interested in the "gamble"?
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#8
11-23-2005, 06:31 PM
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Re: What to do with a Child who plays SNG\'s?
[ QUOTE ]
[/ QUOTE ] 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. [/ QUOTE ] 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 [/ QUOTE ] 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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#9
11-23-2005, 06:39 PM
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Re: What to do with a Child who plays SNG\'s?
[ QUOTE ]
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. [/ QUOTE ] Judging by how adults handle downswings, I would strongly advice against this kid moving up. How would he handle a 30 buy-in drop at the 22s? I think keeping the buy-ins down is a requirement for this to be a decent idea. If the object is to turn him into a moneymaking machine, it will bring a lot of crap a 9 year old definately don't need or will be able to handle intellectually for at least a handful years.
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#10
11-23-2005, 04:02 PM
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Re: What to do with a Child who plays SNG\'s?
[ QUOTE ]
Tell him that his bankroll has grown enough that he can now play a new game called the "college savings account" in which his money makes itself. After this give him his initial 100 back and keep him playing at a small level as you obviously have no qualms about him gambling in the first place. Perhaps this is where you want to instill some bankroll management skills that could actually become helpful later in life when he realizes you cant retire on pocket aces. [/ QUOTE ] I agree with this, a nine year old has no need for 1100 dollars. Take the thousand and put it away for college and keep playing with the orginal hundred. And, if the kid has a major problem with that, you will know that there's a problem developing, so you can put a stop to it.
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