Getting frustrated with the money I make

[Mr_J]

That's not the point, you basically said $22s wouldn't provide much of an income. While 50k is worthless to you, I think it's pretty silly for you to suggest it is for everyone else.

[Crispy86]

Yes, a lot depends on where you live. The assumption in this thread is that the person lives in an expensive state/city, or even the US. Here in Rio de Janeiro, Brazil, a rather beautiful city to live in (IMHO), U$50,000/year would have you living at a very decent standard.

Albert

[Mr_J]

No, it's more to do with how old you are and what kind of financial responsiblities you have. Most people on this board are young and would live very well on 50k here (for their age), and I live in a city that's more expensive than any american city apart from NYC.

[Mr_J]

LA is cheaper than where I live. 50k isn't much, but for someone young it's ok. Income is only half of it, because this person is only working 23hrs a week, 42 weeks a year, and only hitting 16% ROI in my example. You could easily bump up those hours and the ROI could be higher.

A $22er who 10tables and hits 20%, working 30hrs a week, 44 weeks a year will make 80kUS.

[microbet]

Where do you live? SF? LA's a damn big area, it's all fairly expensive, but the nicer parts are really expensive. Not NYC expensive, but it's up there with any other city except maybe Honolulu (but I think prices have gone down a lot there).

Anyway, I'm mostly just responding to see if you are in Cali like me.

Nmind, I see the taxes thing. London? I just looked at a couple houses on a real estate site and prices seem pretty similar to LA. (yes, I converted currency)

[Focused]

Hi, wanted to clear up that I live in the UK. I 6 table and don't use pokertracker or any other software. I'd prefer to grind out a living at online poker than work in the factory that I used to work in. But I have ambition, that's why I read and post on 2+2. Cheers.

[Phill S]

Considering you arent paying tax, you should be making a fairly good clip that you can move up. If not then you have essentially 3 options:

1, play more hours/tables/both
2, cut down on overheads
3, borrow to expand (including backing)

This is all basic business theory, you either cut overheads, or grow, be it organically or inorganically. Look at your play from the point of view of being a small company. The choices you make are essentially the same.

And just like businesses, most pro poker players go bust in their first year of opperation.

[Crispy86]

[ QUOTE ]
No, it's more to do with how old you are and what kind of financial responsiblities you have. Most people on this board are young and would live very well on 50k here (for their age), and I live in a city that's more expensive than any american city apart from NYC.

[/ QUOTE ]

I can't agree. It's not that I doubt the cost of living where you are located, but if you can get the very same income independently of where you live, then it seems to make sense to choose a less expensive place, no?

Take a look briefly at this article. It provides a few figures on the US rental market. Let's suppose I am earning an average $20 an hour no matter where I live. It would seem kind of absurd, provided I had a choice, to select one of the listed 'most expensive' rental markets.

So yes, if you live in L.A. and living there is the most important thing to you, and 50K isn't cutting it, you'll have to find an alternative income. If on the other hand, your current source of income is more important (you like your job better) and L.A. is not the biggest deal, find a more feasible place to live.

Albert