Living out of your Bankroll (cross post from probability forum)

[Jezebel]

I have a question about bankroll management when you are depending on poker earnings as income.

I have all of the bankroll formulas that BruceZ has posted and think I understand how these can be used to determine my bankroll requirements, but I want to check and see if my assumptions are correct.

First lets assume that my winrate is $15 an hour with a standard deviation of $130 an hour per table and I play 2 tables at a time online.

Second, lets assume that my monthly "nut" needs to be $4000

Third, lets assume that I will play 160 hrs each month.

So this means that I would ideally make $4800 a month. However, since I need $4000 for expenses I only can count $800 toward bankroll requirements. So the winrate that I would use in the bankroll requirement would be $800/160hrs= $5 per hour, or $2.50 per table.

So my variables for the bankroll formula would be:
Winrate - $2.50
SD - $130

If I plug these numbers into the bankroll formula and assume I want a RoR of 1% then I need a total bankroll of $15,565. Is this correct?

Also, if I stick with the approach of playing hours and not results I would take $25 per hour played out of my roll regardless of what I made or lost that month and it should not affect my bankroll requirements. Is this also correct? Thanks for any input.