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#51
07-13-2005, 12:05 PM
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Re: What do the young ones do with their money?
If any of your kids (I am 27) need any serious financial advice, I would be happy to give you some advice (and no, none of it involves giving me any $$). I have been working in finance for 5+ years, have my CFA charter, and am working towards my PHD in econ, so I know a little bit.
Anyone needs help, feel free to PM me. As payment I will get to live vicariously through you when you retire at 30 
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#53
07-13-2005, 12:22 PM
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Re: What do the young ones do with their money?
well you should know that there's a cap on how much you can dump in an IRA (not saying that makes it a bad idea to have one). also, there's a cap on some kind of IRA (don't know if it's the roth) of 100% of your earned income for the year, which cannot include poker earnings unless you incorporate i think.
citanul
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#54
07-13-2005, 12:33 PM
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Re: What do the young ones do with their money?
[ QUOTE ]
If you dont mind high risk there is tons of money to be made trading futures, also known as commodoties. If you put in your research I think you could do just fine. [/ QUOTE ] Gee: You left out the part about "Limit-Down" days [img]/images/graemlins/smirk.gif[/img]
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#55
07-13-2005, 12:36 PM
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Re: What do the young ones do with their money?
[ QUOTE ]
I hoard the money and never spend anything basically. I don't need anything anyway. [/ QUOTE ] OH Drapes: Any interest in meeting a mature gentleman that doesn't "hoard" his $$$..."SFB" [img]/images/graemlins/smile.gif[/img] [img]/images/graemlins/smile.gif[/img]
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#56
07-13-2005, 12:57 PM
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Re: What do the young ones do with their money?
[ QUOTE ]
i hope you go to jail and have a bad time there. citanul [/ QUOTE ] Come on [img]/images/graemlins/smile.gif[/img] I only play the 10's at a 25 % ROI, 4 tables I have only made about 700$/month the last 2 month. It would just be to annoying paying 50%+ of that in taxes.
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#58
07-13-2005, 03:02 PM
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Re: What do the young ones do with their money?
[ QUOTE ]
Hi, i live in an European country where the taxes are just redicolous. I have the money in my Neteller Account until i find a way to go around the about 59% tax claims when i cash it in. I'll guess i will spend some, while on holidays abroad with the Neteller ATM-card. Thought about getting some US stocks. Cashing max. out every day while on holiday in the US with the Neteller ATM-card; then opening a US Checking Acc. and then buy some stocks. Hope that could work without getting in any EU tax problem, hope they can't monitor my Empire to Neteller to Cashin at ATM's in US (transactions) [img]/images/graemlins/smile.gif[/img] [/ QUOTE ] If you live in a EU country and play on Empire, your winnings are tax free.
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#59
07-13-2005, 03:08 PM
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Re: What do the young ones do with their money?
[ QUOTE ]
If you live in a EU country and play on Empire, your winnings are tax free. [/ QUOTE ] Yes, but only if you are not having it as you primary income (is a recreational player). If you are a student and make around 1000$/month, i think you will have to pay tax, even if the pokerroom is licenced within the EU.
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#60
07-13-2005, 03:11 PM
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Re: What do the young ones do with their money?
[ QUOTE ]
I'm surprised to see that so many others don't spend much of their winnings either. For those in this group that also don't have morgages/loans, where do you invest your money? Right now I've got almost all of my profits sitting in an index fund. [/ QUOTE ] Index fund. very smart. I'm a grad student at uw- i study savings/investment behaviors of people. I am invested in an index fund as well under my roth-based on my earned income from school not poker.
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