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  #41  
Old 12-28-2005, 04:01 PM
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Default Re: Getting frustrated with the money I make

[ QUOTE ]
I want to hang myself every morning when I get up to drive to work.



[/ QUOTE ]

Well that cant be a good sign.
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  #42  
Old 12-28-2005, 04:53 PM
Crispy86 Crispy86 is offline
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Join Date: Jul 2005
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Default Re: Getting frustrated with the money I make

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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.

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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
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  #43  
Old 12-28-2005, 05:05 PM
GrekeHaus GrekeHaus is offline
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Join Date: Aug 2004
Location: Zoidberg, for THREE!
Posts: 314
Default Re: Getting frustrated with the money I make

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I guess we must live very different lives. I wouldnt get out of bed for $50k a year.

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Have you considered moving to Slovakia? It's a very beautiful country and you can get a 4-star meal there for ~$3US.

If you can't live comfortably on $50K there, then you're spending way too much money on pornography.
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  #44  
Old 12-28-2005, 05:21 PM
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Default Re: Getting frustrated with the money I make

[ QUOTE ]
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.

[/ QUOTE ]

Do they have internet in Bhutan?
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  #45  
Old 12-28-2005, 05:26 PM
johnnybeef johnnybeef is offline
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Join Date: Oct 2004
Location: its whats for dinner
Posts: 878
Default Re: Getting frustrated with the money I make

[ QUOTE ]
I'm pretty sure he's not joking. The utility on a $3k MTT score is worth the risk. Think of utility this way. Say the lottery pays $1000 on a $1 ticket. The probability of winning is 1/2000. Pretty bad bet normally, but let's say some guy's coming to break your legs unless you pay him $1000. You have no other way of getting $1000 other than playing the lottery. Obviously, you want to play because winning lets you not get your legs broken, whereas losing doesn't really change anything and you could care less about the dollar you lost. For the OP, a win means a jump in levels (and a quantifiable increase in money earned) and a loss won't break his bankroll, so even if he's a breakeven MTT player, playing them is a good idea.

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Easy for you to say. I haven't had a big cash in a mtt in almost two months. In fact, I am down 1500 in mtts in the last two months. If I had never played a mtt, I would be at the 55s instead of the 22s currnently.
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  #46  
Old 12-28-2005, 11:01 PM
Mr_J Mr_J is offline
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Default Re: Getting frustrated with the money I make

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.
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  #47  
Old 12-28-2005, 11:02 PM
Slim Pickens Slim Pickens is offline
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Location: Las Vegas, NV
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Default Re: Getting frustrated with the money I make

If I'd never entered an MTT in my life, I'd be playing the 55's. As it stands, I play the 55's. If you're paying enough entry fees to MTT's to keep you from moving up levels in STT's, you have to consider yourself a serious MTT player and put in the required study and practice to beat them. My point is directed at the casual MTT players.
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  #48  
Old 12-28-2005, 11:08 PM
johnnybeef johnnybeef is offline
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Join Date: Oct 2004
Location: its whats for dinner
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Default Re: Getting frustrated with the money I make

[ QUOTE ]
If I'd never entered an MTT in my life, I'd be playing the 55's. As it stands, I play the 55's. If you're paying enough entry fees to MTT's to keep you from moving up levels in STT's, you have to consider yourself a serious MTT player and put in the required study and practice to beat them. My point is directed at the casual MTT players.

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Well, kinda. I was played a lot of mtts this month for two reasons. 1st, they are my favorite form of poker. 2nd, I was chasing a big score. That said, I just wanted to warn people who had read your post about the very high amount of variance that can be experienced in mtts.
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  #49  
Old 12-28-2005, 11:15 PM
Slim Pickens Slim Pickens is offline
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Join Date: Jan 2005
Location: Las Vegas, NV
Posts: 786
Default Re: Getting frustrated with the money I make

Yeah, MTT's are definitely higher variance undertakings than STT's. This is kind of why I think taking a few shots at them is a good idea for a lower-level STT player looking to move up. Higher variance works both ways, and playing a few MTT's is a way of creating another parallel path to the higher STT levels. My opinion is probably biased by my 5000% ROI in the Party 40k's though.
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  #50  
Old 12-28-2005, 11:17 PM
Mr_J Mr_J is offline
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Join Date: Dec 2004
Posts: 639
Default Re: Getting frustrated with the money I make

All I'm saying is $50-$60 an hour is decent pay considering the typical age of most people on this board.

It all goes back to the first guy I replied to saying that $20s pay you peanuts, and I just wanted to ask him if >50k working just 23hrs/week, 42 weeks a year was peanuts. It isn't big money, but it's an amount a young person can live off comfortably in most areas.

Back to $22s and peanuts. If they 35hrs a week, 44 weeks a year they'll make over 90k.

I'm not saying 50k is great, but I'm sick of people saying that $22s pay peanuts. It's all relative. While he wouldn't get out of bed for 50k, alot of people on this board would be happy with that and the freetime it gives them.
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