OT: My mom wants me to be a poker pro

[Sciolist]

But knowing what kind of likely variance you get can be useful in a live game, because you don't want to be carrying 16x buyins in your pocket.. At least, I don't :]

[lehighguy]

Yeah, well my mom wants me to teach her poker so she can go pro. It's so wierd. I keep dodging the question and trying to convince her that being a poker player is a bad job.

[ QUOTE ]
Were you in ECM or DCM at GS?

Are you really 29 and thinking of going back to banking? Are you sure your body can handle the stress [img]/images/graemlins/smile.gif[/img]?

[/ QUOTE ]
DCM. Horribly understaffed and working like a bitch. The usual for GS IBD then.

And yeah, I reckon I can handle it at 29. Just about! I'm 29 not 39! Working on a small business wasn't any easier, and at least I can leave this sort of job at the office, especially if I move into sales or some such eventually.

I'll either move into a position I know as an Associate or perhaps a final year Analyst, which will be fine as far as money is concerned (I don't care about the short term money, as long as I'm in a bank I want to work with and I have the prospects I want).

[Newt_Buggs]

This thread is so long that no one is going to read this, but whatever. I'm not saying this to brag, but I'm now beating the $215s 8-10 tabling with some impressive results and I'm still in school. You guys have no excuse to drop out [img]/images/graemlins/smile.gif[/img]

[inyaface]

[ QUOTE ]
This thread is so long that no one is going to read this, but whatever. I'm not saying this to brag, but I'm now beating the $215s 8-10 tabling with some impressive results and I'm still in school. You guys have no excuse to drop out [img]/images/graemlins/smile.gif[/img]

[/ QUOTE ]

Totally agreed. I talk about it all the time but I just don't think it would be smart at all.

[inyaface]

[ QUOTE ]
Great info, I appreciate it. Yeah UCF is a huge school and well known in Florida but there is the reality of Ivy leagues getting the best opportunities in NYC and so forth.

I do have lots to learn, and I appreciate the feedback and everyone getting on my ass about pwning 3/6 haha. It seems perhaps I've had a few very good runs in casinos and miscalculated. I'll have to spend more time to figure that out for myself.

[/ QUOTE ]

I want to big up this post. So many people (especially new posters) don't ever want to admit they might have been wrong. With how much this board has to offer it's terrible that some people come on here without a willingness to adjust or learn. 2+2 was made for people like you and if you keep taking advice from the GOOD posters on here your going to learn a lot.

[ravensfan]

My opinion of finance is somewhat different: As you mentioned, 60-100hours a week can be required. I can attest, having a university education AND partial completion of a CFA (2/3) aren't always sufficient to get into even an analyst position (although Toronto is crazy-oversaturated). You may also need to play the corporate game, work hard for a long time, progress, spend a shitload on good clothes, etc to get the chance to work your way up. Working hard, being smart, and enthusiastic about the job, may put you at 100K within 8 years, but 200K?
In Canada, with the tax laws as they are: 100K US poker ~ 200K Cdn legit.

Why wait through 10 years of hard work, good fortune, long hours, and less enjoyable working conditions, only to get somewhere you can be now?

Also, having capital is huge. If you can invest 60K a year (living off of 40K is still sick enough), then you won't need to work in the finance industry as you can start turning that money around really quicly - if you put the same passion into the next venture as this.

That said, make DAMN SURE you're pulling $50/hr.

My plan is this: once i graduate to 33s, i'm tracking my hourly earnings. If i'm at $55+/hr over 500 hours, i'm going to assume that this sample size is sufficient, and slip it by the fiance/wife. Pray for me!!

[ravensfan]

100K for 10 years... invest 60K/year... you can "grind out" 100K ( or 200K after tax), but your other investments should be doing ok at this point.
BTW: how many people in mid 30s+ do you know who are actually pulling 200K+/year? And you can't count the executives at your job.
I'd say i know 3 people in their 40s at 200K.

[ravensfan]

I gotta bring you out when i break it to the family!!

This is exactly what i'm saying... Have fun, do what you love, and then turn that [censored] into something else you're going to love.
Hell, if you're that hellbent on finance, use the poker money to go to Harvardish MBA, Harvardish FInance, etc then you can make the sick loot too. A lot easier than fighting your way through the ranks.

I guess the question is this: given the same FV of money in 20years, would you rather play poker online or work in finance. Truthfully both have their strengths and weaknesses, but i'm thinking waking up when i want, where i want, and listening to whom i want is a pretty good gig.
But will poker be a fun when you need the money?

[Mr_J]

"I guess the question is this: given the same FV of money in 20years, would you rather play poker online or work in finance."

You mean I keep the same hourly rate in poker but experience an exponential type income as I rise up in finance??

For me it's poker hands down.

1. Earn isn't bad.
2. Much lower hours.
3. Higher quality of life (thanks to less hours).
4. Tax free in australia, most +ev I'll ever get.
5. Flexible schedule, if I wake up on monday and want to fly to europe, I can.
6. I can parlay my winnings into investments and make a $hitload of money, giving me a much larger income and the option of not having to play poker for nearly as long [img]/images/graemlins/smile.gif[/img]

#3 is the most important to me. I'd take 4hrs a day and 200k a year anyday over 8hrs a day and 2mil a year, but that's just me.

There's nothing I want in life that a 2mil income can by that a 200k income couldn't. Ok, well maybe 1 thing, and that's about another dozen cars in my car collection.