Mid Stakes for a Living - Page 11 - Medium Stakes Pot Limit and No Limit

HellRoxYa · 05-26-2009, 03:54 AM

Above post is nailing it.

Personally I'm dreaming about either investing in or starting my own company in the future.

For now I'm planning on buying an (not-so-expensive-but-ordinary) apartment and moving out from home. Probably pay most or all of that off and then we'll see what I'd like to do. I'll let you know in a year I guess. The whole point of this though is that I can do whatever I want afterwards. If I want to study, I can. I'll have 2-3 years of living money saved up (alongside my roll). If I want to do nothing, I can do that too. All the doors are open and poker closes none of them.

05-26-2009, 04:14 AM

Quote:

I've had 6 figure jobs as a developer/product manager and in my mind they themselves present a huge opportunity cost to you because of the time and focus required to do them well. It makes it very difficult to find time and energy to pursue other entrepreneurial efforts that would probably make you more money. It's a trap in many ways and I don't know why anyone is glorifying it.

You're never getting paid what you're worth in these jobs (otherwise a company doesn't make it's necessary margin on you), and lol at the idea that there's all these 6 figure jobs out there for the taking. These jobs are HARD to get and there's a lot of croneyism involved in the distribution of them (especially at the management level, less so in "skill" roles like design or development). The workforce is hardly a meritocracy. Poker on the other hand is. You get back what you put in and what your abilities are.

If a young guy has the ability to do 6 figures + now as a young pro, he should do so, AND try to diversify his income streams (coaching, small businesses, real estate, trading, etc). Guys like Krantz, Taylor Caby have provided the ultimate model of what you should try and be doing (and I'm sure they'll be involved in a lot of non-poker related businesses in the future).

Anyone under 30 who is making 6 figures playing poker is in many ways living the dream. The average employed sap is truly GRINDING it out with his fixed salary (probably $50-60K, those of you throwing out 6 figure estimates are as misguided as the guys who think the MSNL grinders make the 500K easy), his maybe Christmas bonus, his 2 weeks of vacation that he gets to take in 2-3 day increments and get sweated about, and his 8:30 start time (10am if he's REALLY lucky at a progressive tech company).

This.

Not to mention the economy sucks ass right now anyway. To get those 6 figure salaries using your degree you have to be DAMN smart or DAMN well connected, and even then it's arguably not better over playing poker. The higher % of poker players on this forum aren't graduating top of their class with the sickest resume imaginable to be able to land this job, so the opportunity cost isn't as big for a lot of people on here. A lot of people here probably just were going to a good state school with a decent/good GPA which wouldn't land them jack **** after college. These days those types of credentials are probably worth around what a high school degree was a decade ago. This doesn't even take into account those on the board who weren't even in college... I know some guys who are top MSNL grinders that didn't even go to college and were working at crap jobs prior to getting into poker. So basically unless you had a flawless resume sheet, it's not even worth comparing, and even if you had a flawless resume sheet it's still worth comparing because you'll just end up getting what the guy above was talking about.

grindplz · 05-26-2009, 04:27 AM

Quote:

Originally Posted by theplux

lol some of you guys are really delusional with monies its unbelievable. Or smoking crack.

wats this mean.

space_cowboy · 05-26-2009, 05:35 AM

Wev all done the game where you wrtie out win rates and number of hands you can play and make a pretty annual income but in reality it never happens.

Be prepared for unexpected variance etrc if plannign on doing this for a living.

I won at 8.5bb/100 over 500k hands on really soft euro sites- before losing 25% of my total winnings in about 70k hands of shere hell.... it will happen to you at some point and its not pretty!

Just always think properly about the game and be realistic about targets etcv

WHat helps me is to put money into other business projects so during tough times you dont feel you have all your eggs in the poker basket

Bruut99 · 05-26-2009, 07:19 AM

I do think it is WAY harder to get an $100k+ job in europe.

FCW · 05-26-2009, 07:39 AM

Quote:

Originally Posted by Bruut99

I do think it is WAY harder to get an $100k+ job in europe.

Indeed, many people in this thread pretend it's quite easy....

Nielsio · 05-26-2009, 08:02 AM

Quote:

Originally Posted by IWEARGOGGLES

College isn't difficult at all and isn't even all that time consuming. It also promotes far greater mental health than [..]

Is College Worth It?
http://www.lewrockwell.com/north/north303.html

fees · 05-26-2009, 08:26 AM

Quote:

Originally Posted by grindplz

Meh I dropped out of school I think a lot of people drop out when they're not making nearly enough but you can always go back and you can still live your life in such a way where you still have the college lifestyle and social life.

People don't make 500k a year at midstakes because generally if theyre good enough to make that much they'll just move up and make it at higher stakes in a lot fewer hours. So i mean even arguing about making 500k a year at midstakes seems dumb since your goal shouldn't be to make 500k a year at midstakes but instead make enough and get good enough to move up past 2/4-5/10 if you have aspirations of making a ton of money.

i finally went over and read this thread, got to this post and its almost word for word my thoughts thus far, the 500k/yr thing is bull**** b/c if u can make 500k a year ur gonna play atleast 1020

fees · 05-26-2009, 08:30 AM

Quote:

Originally Posted by Nielsio

Is College Worth It?
http://www.lewrockwell.com/north/north303.html

i feel like this is a subject that can go both ways. either side can have a valid argument, which means its a case by case basis, trying to throw out generalities like "no one should drop out" doesn't work because each case is to unique. Basically the answer is, and has been mentioned in this threads and threads before this, do what works for you and your situation.

Syous · 05-26-2009, 10:20 AM

I don't think people here are really arguing reasons for NOT going to college. It's more aboutif you want to drop out and go pro i.e. reasons to support becoming a professional. We assume that if you make this choice you are going to be a man a bout it and take responsibility for your decisions. Dropping out isn't for anyone who isn't sure about being a poker pro.

Jeffmet3 · 05-26-2009, 11:51 AM

as someone who just graduated college 2 days ago, it was an amazing experience (although saying goodbye to everyone and moving out now is kinda crazy), but i kinda agree that if you really hate college then you might as well drop out if you have other options. but to borrow a phrase, if you really hate college then you're doing it wrong.

that and college is basically your last bastion of childhood, where you can deflect responsibility and just do whatever you want to do.

you've got the rest of your life to worry about life ****, so why rush it?

and think of it this way, if you look back at your life 10 years from now, are you more likely to regret not winning a few hundred $k more, or not spending more time having fun and building relationships and experiences?

i realize that people are going to say that you can do both, but a) it's not the same as being in college, and b) why make it so much harder on yourself

FCW · 05-26-2009, 12:04 PM

Quote:

Originally Posted by Jeffmet3

as someone who just graduated college 2 days ago, it was an amazing experience (although saying goodbye to everyone and moving out now is kinda crazy), but i kinda agree that if you really hate college then you might as well drop out if you have other options. but to borrow a phrase, if you really hate college then you're doing it wrong.

that and college is basically your last bastion of childhood, where you can deflect responsibility and just do whatever you want to do.

you've got the rest of your life to worry about life ****, so why rush it?

and think of it this way, if you look back at your life 10 years from now, are you more likely to regret not winning a few hundred $k more, or not spending more time having fun and building relationships and experiences?

i realize that people are going to say that you can do both, but a) it's not the same as being in college, and b) why make it so much harder on yourself

nice post, mainly the 4th paragraph

1dentifier · 05-26-2009, 12:13 PM

Quote:

Originally Posted by Jeffmet3

as someone who just graduated college 2 days ago, it was an amazing experience (although saying goodbye to everyone and moving out now is kinda crazy), but i kinda agree that if you really hate college then you might as well drop out if you have other options. but to borrow a phrase, if you really hate college then you're doing it wrong.

that and college is basically your last bastion of childhood, where you can deflect responsibility and just do whatever you want to do.

you've got the rest of your life to worry about life ****, so why rush it?

and think of it this way, if you look back at your life 10 years from now, are you more likely to regret not winning a few hundred $k more, or not spending more time having fun and building relationships and experiences?

i realize that people are going to say that you can do both, but a) it's not the same as being in college, and b) why make it so much harder on yourself