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Money managment

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12-09-2022 , 09:56 AM

DarryJ3

newbie

Join Date: Aug 2022 Posts: 20

I have a few questions regarding finance.

Scenario A) Player is a professional who solely relies on poker as his only source of income, once he cashes in a tournament what is the optimal way to divide his winnings into categories, i.e what percentage should go towards savings & investing, necessities, bankroll, leisure and fun activities?

B) Same question although player is not a professional, only plays poker on the side and has a regular job.

C) And finally for someone who doesn't play poker at all.

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12-09-2022 , 11:14 AM

SirGaribaldi

Pooh-Bah

Join Date: Aug 2009 Posts: 4,941

If you dont play poker at all your poker bankroll is optimally 0%, somehow I dont understand how youre supposed to cash in a tournament that way tho.

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12-09-2022 , 11:26 AM

DarryJ3

newbie

Join Date: Aug 2022 Posts: 20

Quote:

Originally Posted by SirGaribaldi

If you dont play poker at all your poker bankroll is optimally 0%, somehow I dont understand how youre supposed to cash in a tournament that way tho.

Yes, what I meant is someone who works a normal job, how should they divide their income, bar bankroll.

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12-09-2022 , 11:37 AM

Didace

Carpal \'Tunnel

Join Date: Nov 2009 Posts: 19,865

This is such a vague question with so many variables it is unanswerable.

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12-09-2022 , 12:37 PM

DarryJ3

newbie

Join Date: Aug 2022 Posts: 20

Quote:

Originally Posted by Didace

This is such a vague question with so many variables it is unanswerable.

So I heard of a method 50/30/20, where 50% of your income goes towards necessities/needs, 30% to wants and 20% towards investing/savings and I was thinking what was the best way to for someone to apply this or similar systems to income made via poker to include money allocated towards bankroll.

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12-09-2022 , 12:57 PM

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 49,686

100% in bitcoin

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12-09-2022 , 12:58 PM

Didace

Carpal \'Tunnel

Join Date: Nov 2009 Posts: 19,865

If you're making 20k a year I hope 100% goes towards needs. If you are making 20million, not so much.

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12-09-2022 , 03:11 PM

applesauce123

adept

Join Date: Jun 2016 Posts: 851

Quote:

Originally Posted by housenuts

100% in bitcoin

100% BSV, Bitcoin as the creator intended

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12-09-2022 , 04:22 PM

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 49,686

Quote:

Originally Posted by applesauce123

100% BSV, Bitcoin as the creator intended

*as Craig Wright intends

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12-09-2022 , 05:07 PM

#10

ProffesionalMalaka

adept

Join Date: Aug 2015 Posts: 749

Quote:

Originally Posted by housenuts

100% in bitcoin

+1

Few.

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12-09-2022 , 07:58 PM

#11

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 49,686

100% is conservative too. Can easily leverage up to 150% or more.

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12-10-2022 , 12:30 AM

#12

campfirewest

Carpal \'Tunnel

Join Date: Sep 2006 Posts: 9,929

Just put it all in Luna.

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12-10-2022 , 10:40 AM

#13

pokerfan655

old hand

Join Date: Jun 2012 Posts: 1,377

Cool thread

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