Quote:
Originally Posted by MikeStarr
How does having only 4-6 months life expenses have anything to do with busting an adequate poker roll?
Because stuff happens and while a pro may not bust over 4 months, if he has a break even or slightly winning stretch that is problematic enough, because when the life roll is gone we are now pulling from our bankroll for rent, food, utilities, etc. Not to mention unexpected costs that can be potentially catastrophic, such as being in a car accident and having no transportation, or needing to be hospitalized. A 4 month life roll, particularly somewhere with low cost of living like Thackerville, can be wiped out by any number of emergencies.
Personally I started with 10k bankroll and a years living expenses. I got my bankroll up to 20k then moved up in stakes too soon and went on a downswing in December right after a month of being sick and several days spent in the hospital. Back to 10k. Meanwhile if I had saved only 4 months expenses I would be 2 months in debt at that point for rent etc., plus hospital bills, and having no steady stream of income the only place to take that would be my bankroll. And that would have busted me, even though I was break even over this period.
Poker is not a steady stream of income so great care should be taken in planning financially to account for extended periods where you have potentially large expenses and possibly very limited or even zero or negative income.
An additional benefit of a bigger life roll is we can put all winnings back into the bankroll, which helps us move up stakes faster as well as decrease risk of ruin.