Everyone's monetary needs and goals differ. As professional poker players, there are significant advantages to several landmark bankroll numbers, such as(roughly):
20k for 2/5 nl
60k for 5/10 nl
150k for 10/20 nl
400k for 25/50 nl
etc
The expected utility of money has a somewhat sharp decline under these price points because of the ability to make more money by playing in bigger games when they are worth playing. You should keep reasonably safe investments with enough to play in order to keep your future earning power high. With additional money, you can take drastically higher risk investments, given that they have larger EV payoffs.
Some examples(ignoring inflation) in order of increasing risk are:
Cash (0% EV)
Bonds (4.5% EV)
Mutual funds (8% EV)
Real estate (~15% EV, not sure what number to put here)
Individual stocks (8% EV)
Cryptocurrency (50%+ EV, very debatably much higher)
As poker players, we need decently large reserves of cash to play regardless, so that takes care of a large portion of our needs. Additional money to put us over our bankroll requirements should likely be kept in mutual funds or real estate. Any additional money should be kept in the form of a well diversified cryptocurrency portfolio, given that the individual also believes cryptocurrencies EV far exceed that of traditional investments.
A graph of utility to money would look something like this, with the slope of the utility line decreasing slightly past every "landmark" bankroll point.
Am I thinking about this correctly? Anything to add?