I play low & mid stakes to make money, and I'm older than you, maybe my answers can help...
1) How much money can you make playing low stakes live?
The truth is the range is very wide; it ranges between going broke quickly, playing for several months or maybe a year or more before you get burned out and decided to quit, as an educated and *honest* estimate the better low stakes players make $30-50k per year...working thier azz off. An *honest* long term win rate for a really good $2/5 player would be in the $40 per hour range, around 8 big blinds per hour. .....$25 to $30 per hour / 5-7 big blinds per hour win rate is more common.
2) Is gambooling for a living stressful?
Yup, you dam right it is!
Not knowing for sure if you'll win and if so how much, and always having some doubt in your mind is stressfull. A large bankroll really helps....it adds security, take many of the doubts away, and allows you to play "your" game more ...versus scared-money play.
Playing poker to make money is a business, make no mistake. Just as any other small business you need to make wise and prudent business choices to succeed.
In one word *discipline* is what it takes. You have to have solid work ethic and play lot of hours, you have to have excellent bank roll managment skills, bugeting skills, and you have to a pretty good poker player.
Very, very few people in ther world become and continue the life of a poker player for ever...thats not to say it can't be a fun and rewarding experience to do for awhile.
3) General advice for a young guy who has a little money, ambition, little commitments and likes to play cards?
Make a "fall back" plan at your current home and life situation, a plan that if/when you go broke or change your mind you can go back to where you came from with only some bruised pride, less money, and a small chunk of time used in your life.
Move to Las Vegas and chase your dream!
Best wishes.....
Last edited by Under_the_Radar; 08-16-2012 at 02:56 AM.