Do you have a backup plan?

[LImitPlayer]

For those of you who play poker and rely on it as your only source of income, do you have a backup plan for when poker is no longer viable, if that ever happens?

Right now we are in a poker boom but eventually online poker is going to get tougher and tougher each year, to the point where some of us won't have the skills to make it.

The games are still very beatable but compare today's games with the same games at this time last year and the level of competiton has increased quite a bit. There are still plenty of fish but eventually there won't be enough fish to go around and some of the average players who are making good money multi-tabling tabling small stakes limits with rakeback won't have the skills to make it in the tougher online enviorment that is sure to come.

With the posts that I have read here and on other forums regarding people buying lavish luxury items such as Plasma tv's hummers, Vipers etc.I wonder how many how thought ahead that far and are going to be prepared if that day
ever comes.

Have any of you thought ahead a few years to what you will be doing if the golden age of poker ends and you don't have the skills to make it online anymore?

I've started thinkking about this and have decided on a couple different scenerios:

1) Cash out my bankroll, Start or buy a business and become self-employed again. I'm talking a significant financial commitment working those 50-60 hour weeks that most self employed people work.

2) Cash out my bankroll, pay off all my debts such as my morgatge, Car payment etc and either get a job or purchase a small business, something that doesn't require large sums of money to get into. If I go the job route, it will be nice to have a job where I can tell the boss to go hell for whatever reason and not have to worry about my morgatge payment. If I purchase a small business, it would be a low maintenance part time one, not one working 50-60 hours a week.

3) Try playing live poker for a living, but at much higher limits then I do now. Of the 3 options I have thought of so far, this one definetely has the least appeal to me. And of cource if option 3 fails fall back to either option 1 or 2

Anyways, what about you other poker players out there, have you thought about the future?

[Predator314]

The number of people playing may level out soon, but people are not goign to get any smarter. There will still be donks out there giving away free money.

[Keith Fellmy]

I have a smallside business where I sell fishing sinkers to a few places here in FOrt Myers. It keeps me busy in the morning (a normal poker player morning starts at 10 am.) Then in the evening I play poker.

I take care of my grandmother (who has Alzheimer's) so I don't get out much. Once she passes away I will pursue other accounts so that I can make fishing sinkers all the time. I would, more than likely, quit poker so I can concentrate all my energy on making sinkers. I also make spinnerbaits, buzzbaits and spoons. I start with sinkers then let the owner know that I make lures and start with a small consignment tree (you see these in all bait shops-a small tree made of dowel rods with a local guys lures on it) of lures. As those sales start to pick up my little tree becomes a small corner of the shop. So now I can sell him bulk sinkers, pre packed bags of sinkers and lures. Keeps me busy most every day. In two weeks I can make a whole season's worth of lures...then make sinkers as needed.

During the down time in the summer (remember I live in Florida) I make up bunches of lures. I also make many thousands of sinkers in the popular sizes. I mean I have a 5 gallon bucket full of each size of popular sinkers. 3/4 oz., 1 oz., 1 1/2 oz., and 2 ounce sizes. I have smaller sizes that I make up and fill smaller buckets. I only make up egg sinkers before hand since they are the big sellers. Other orders are made as needed. I do make large bank sinkers and pyramid sinkers, but egg sinkers sell faster by 10,000 to 1.

Anyway I am rambling on like a drunken idiot so I will close with this: if you live near a large body of water then you can make money selling sinkers and lures. Anyone can do it. If I can do it then so can you. Just remember to buy a hella good mask to keep the fumes out of your lungs. I got the best mask made and it was over 200 bucks.

[solucky]

Hi

I had a fulltimejob and dont really need the pokermoney. I spend only a 2 week vegasvacation from my winnings and a few small things, the rest of the money i invest on the stockmarkets. I analyse myself the market......next month i go down to a 30 hour/week job. In the moment i make 60% of my income from the job 25% from Poker and 15% from the stockmarkets. My next goal is 33% each so i can live easy without poker or without job.

[primetime32]

Two Words: Professional Bingo!

[grinin]

[ QUOTE ]
Just remember to buy a hella good mask to keep the fumes out of your lungs. I got the best mask made and it was over 200 bucks.



[/ QUOTE ]
I wud wundrin how long de led wuld taak too bild up and iff it reelly efekted yu de weigh dey seys

Seriously Keith, my brother in law poured and formed lead shields for cancer patients radiation therapy for years. He developed major problems because the ventilation was not great.... unless it was the drugs. Well.... he swears it was the lead and heavy metals.

[Photoc]

[ QUOTE ]
2) Cash out my bankroll, pay off all my debts such as my morgatge, If I go the job route, it will be nice to have a job where I can tell the boss to go hell for whatever reason and not have to worry about my morgatge payment.

[/ QUOTE ]

Well yeah, you wouldn't have to worry about your mortgage payment because you just said it would already be paid off. [img]/images/graemlins/grin.gif[/img]

[RollaJ]

My main back up plan is to teach, but I hope I never have to.

You should also be getting better over time as well, this way you will keep ahead of the competition.

[Schwartzy61]

I think my BBA in accounting is a pretty good backup plan...

[scott2130]

Accounting is NOT a good plan. Nobody needs to keep track of there money or pay tax anymore. I think you should re-think your plan. [img]/images/graemlins/wink.gif[/img] [img]/images/graemlins/grin.gif[/img]