Hey guys,
Really looking for some of you who play professionally to help guide me in the right direction - I'm wondering what steps I should take in deciding when I can make the decision to go pro. I want everything pretty much figured out - as much as possible anyway - in terms of life-roll-padding, unexpected-expenses in relation to budgeting, taxes, etc.
Would anyone recommend seeing some sort of financial advisor?
This is all very new to me.
Thanks.
Jenifear has a great article online about bankroll requirements and also a great system you can use for taking money outa poker for life expenses. It's hard to find online but if you like I could email it to you.
You mean this one? jennifear BR
I think that you should just play until it becomes your profession on its own rather than making changes in your life to become a professional. In other words, I think that you should just play and continue with your normal life until you are so comfortable with poker that it isn't even a question.
While I was in high school I considered going pro, and was confident that I could make a lot of money... I was right until the UIGEA came around at which point I couldn't even beat the games for the next year. I played with poker as my source of income throughout college but I think that there are definitely points early in my "career" where I wouldn't have been able to make it if I had to take out money to pay the bills. I don't think it was until my junior year that I knew confidently that I could live off of poker, at which point I considered dropping out of college because I wasn't going to use my degree anyways. I ended up finishing my degree and still won't use it, but I don't regret it at all. Holding off gave me a lot of time to get my head straight and really give me an idea as to what I'm getting myself into.
On a different note, if you are borderline on finances already it seems like overkill for you to pay someone for their advice as to how to spend your money.
Ya, that one, good article
Thanks guys - check out my first blog for a more detailed summary of my situation, but basically I'm stuck working in a 'career' / industry that I have no desire to stay in, doesn't pay good at all (I could most likely make the same/ more money working at Home Depot or something), and at the moment I see it as taking away from my poker time, which is profitable and a big time passion. I completely understand what you're saying xSCWx, and it's sound advice.. I guess if I have to ask I'm NOT at the point yet, but at the same time, I know for sure that I am a winning player and really really want to get on the ball ASAP, before my job actually crushes my soul.
I'm really looking forward to my vaca coming up next week - 9 days off - as I'm going to use this as time to really grind hard and see how it is to be grinding full-time.
Munchnchips and retrorevenger thanks for the link I'm going to check that out.