I need advice on managing an $8K bank roll at the 2012 WSOP. I was thinking of playing $275 single table satellites in order to buy into the 1K and 1.5K bracelet events.

please state the goal or challenge?

Buy directly into the initial 1,500 event and one other 1,000 or 1,500 event in the first/second week. Going on the same time as the WSOP is the Venetian Deep Stack with buyins from $300-500. Take another 1k and buy in to 3 Deepstack events. That will give you 5 legit tourney shots with 4k left over to play cash games or take another tourney shot.

My goal and dream is to make at least 150K this summer at the WSOP so that I can quit my job and play tournament poker for a living.

Good advice... What is the structure like at the Venetian Deepstacks?

you are more likely to lose the full 8k than you are to cash in a single event, much less make 150k. Having unrealistic goals that rely 100% on you running like jamie gold, is just setting yourself up for heart ache, going broke, and overall failure.

First step: stop confusing some child like fantasy with real world expectations.

during the summer there are bunch of tourney series running in vegas, many of them have buyins in the 100-200$ range and pretty much all the casinos run daily tourneys in the 60-150$ range. the rio has 2 massive 275$ tourneys each day, and a nice sized 135$ each night. The VDS will have your best value mtts, mostly in the 200-500$ range.

Don't play any wsop 1k's/1500's unless you win 10k+ before hand or 1 shot a satelite for 150$ and win a seat. Don't play sng's at the rio, unless it is only the 100$ ones, don't play vds 1k+. Dont play casino games, dont drink and play ever. Share a house/apt with fellow grinders near the strip. 90%+ of the games you play should be 60-275$ buyin range

Step 2: Build a good financially sound plan with low risk of ruin and low costs, study structures and every casino's offerings, find out what is softest and most easily beatable and where you can make your most money/hr. Make sure you get a house/apt with a kitchen you will actually use, pre make yourself meals and such, food in vegas will crush your roll.

Step 3: Run like jamie gold.

I got the housing covered. I'm staying with a very good friend of mine who is a poker pro in Vegas. VDS sounds like the best value for my $8K bank roll.

Not the best at BR managment, but hope you really good luck there mate