Project: Money
02-21-2021
, 08:19 AM
Hi!
Let's keep introductions simple:
- 31 years old
- Family with wife and kids
- Owning a house by loan
- Owning a car by loan
- Student loan still left
- Enjoying poker last 14 years, always as an serious hobby (but still hobby)
- Entrepreneur
- Enjoying but loosing in sports betting
- Starting to gain interest on stocks and cryptos
Looking ahead my big goal would be to have financial freedom by 40 years old. Not maybe planning to jump out of work life but to achieve financial freedom whats so ever and have comfortable life and freedom to choose work projects jumping into.
Business:
At the moment business I'm in is in a rapid growth state, and owning some what of a reasonable piece of it gives me a nice boost to put big effort in it. Me and my partners have made a plan to cash out with the company when the time is right and right buyer comes around. Now, most likely I will not become a millionaire by this but for sure it will give the goal at sight towards financial freedom I'm dreaming of.
I will keep my business mostly out of this blog, because I feel it is some what a sensitive item to handle in puplic forums like this. Maybe I will share some good or bad news without revealing too much but let's see.
Investment plan:
Along the business, I'm interested in investing money to stock markets and very lately (but maybe too late) I have gained interest towards cryptos as well. My investments are very small at this stage and simple, around 3k€ in index funds, but soon when I receive dividends from last years profits I'm planning to at least double my investments. Plan in my head right now is to increase index fund size to 5k€, invest maybe 1-2k€ to cryptos, and then start studying and finding direct stocks to purchase and make this investing thing "more fun game to play". I have over 8 years ahead before I'm 40 years old, so there for sure is good time to gather quite nice portfolio of investments until my goal age to retire from 9 to 5 work life. Depending of the timing when business will be sold, we will see how, how much and with what kind of risk level those larger amounts of money is good to be invested then.
I plan to start some kind of a monthly investment plan but not yet quite sure what it will be like. I have at the moment big monthly expenses, as you might understand from above given list of my backround. There is not much left over to be invested after monthly expenses. Maybe it is more reasonable to invest at least direct stock purchases in every two months or so to make purchase costs less significant.
Paying house loan of course is monthly investing by itself as well!
Ok but this is a poker blog right? Well, as mentioned above poker has been one of the many loves in my life last 14 years and I see it not changing days to come. I have never played it in professional manner, neither I am planning to. I have never played high stakes, micros and low stakes only. I have played mix of tournaments, sit n' go's, NLHE and PLO cash games, online and live etc. etc.
But now when I'm starting to see a better vision for my future, as well as a being able to set a reasonable goal for myself, and recognizing the tools how to get there, I tought why not to give it a shot to make poker come a long as hobby in a systematic way as well! Poker is great way to get my toughts out of work and other stressful issues, and it is a great way to challenge and improve yourself.
Poker plan!
- Purchase a poker tracker. Done. Poker tracker 4.
- Invest on studying. As I opened 2+2 today I noticed this PLO launch pad by upswing. Seemed like a reasonable price and good and simple enough product for me to invest in and give my PLO game skill boost. Plan is to buy this in upcoming days.
- Prepare a bankroll management plan for poker. I'm really not sure nowadays what is a good plan. Is 100 buy ins good, or can we go as agressive as 50 buy ins? I think, for me, 50 buy ins is good because after all I have more significant incomes from else where and hope not to make this challenge too boring for myself.
- Start grind from the micros I'm used to. Likely PLO10 will be the stakes I will start from.
- Play tournaments with reasonable average buy in compared to cash game stakes playing at any time. Tournaments will be more rare for me because it is not preferable to play until night and then wake up 7 am to take your kids to kinder garden and and head "fresh and sharp" to work. I'd think average buy in of 5€ is good for me to start with.
- Rise at stakes to PLO100 / avg. buy in of 30-50 € with comfortable bank roll and skill level enough to feel comfortable playing in those pools. I think, there is no need for me to start stressing myself by higher stakes than this, to keep poker as a clearly secondary financial interest compared to business.
Sports betting:
- Find forums and tippers with good track records, and start following their ideas more than my own "i bet this because i feel like it is a good bet".
- Prepare a bank roll management plan for sports betting. For this I think I have a good idea how it works. And I think I need to keep bet sizes maximum at same level compared to poker, or more preferably slightly lower.
- With betting stakes we are talking about, I think there no chance to make this any reasonable income within 8 years and with volumes I will have. So this should be kept as completely secondary hobby compared to poker and other investments like stocks and crypto's --> Challenge is to keep sport betting this way and not kill my my potential in those with bad bets and too big stakes!
So in summary:
I will be writing here at least in weekly basis. Topics will be poker, sports betting, stocks, crypto's, maybe some real business and maybe some real life talk as well
How knows if this blog will carry through 8 years or not, but for sure it would be unbelievable achievement to be able to reach these goals and be able to share the journey!
Let us start.
Let's keep introductions simple:
- 31 years old
- Family with wife and kids
- Owning a house by loan
- Owning a car by loan
- Student loan still left
- Enjoying poker last 14 years, always as an serious hobby (but still hobby)
- Entrepreneur
- Enjoying but loosing in sports betting
- Starting to gain interest on stocks and cryptos
Looking ahead my big goal would be to have financial freedom by 40 years old. Not maybe planning to jump out of work life but to achieve financial freedom whats so ever and have comfortable life and freedom to choose work projects jumping into.
Business:
At the moment business I'm in is in a rapid growth state, and owning some what of a reasonable piece of it gives me a nice boost to put big effort in it. Me and my partners have made a plan to cash out with the company when the time is right and right buyer comes around. Now, most likely I will not become a millionaire by this but for sure it will give the goal at sight towards financial freedom I'm dreaming of.
I will keep my business mostly out of this blog, because I feel it is some what a sensitive item to handle in puplic forums like this. Maybe I will share some good or bad news without revealing too much but let's see.
Investment plan:
Along the business, I'm interested in investing money to stock markets and very lately (but maybe too late) I have gained interest towards cryptos as well. My investments are very small at this stage and simple, around 3k€ in index funds, but soon when I receive dividends from last years profits I'm planning to at least double my investments. Plan in my head right now is to increase index fund size to 5k€, invest maybe 1-2k€ to cryptos, and then start studying and finding direct stocks to purchase and make this investing thing "more fun game to play". I have over 8 years ahead before I'm 40 years old, so there for sure is good time to gather quite nice portfolio of investments until my goal age to retire from 9 to 5 work life. Depending of the timing when business will be sold, we will see how, how much and with what kind of risk level those larger amounts of money is good to be invested then.
I plan to start some kind of a monthly investment plan but not yet quite sure what it will be like. I have at the moment big monthly expenses, as you might understand from above given list of my backround. There is not much left over to be invested after monthly expenses. Maybe it is more reasonable to invest at least direct stock purchases in every two months or so to make purchase costs less significant.
Paying house loan of course is monthly investing by itself as well!
Ok but this is a poker blog right? Well, as mentioned above poker has been one of the many loves in my life last 14 years and I see it not changing days to come. I have never played it in professional manner, neither I am planning to. I have never played high stakes, micros and low stakes only. I have played mix of tournaments, sit n' go's, NLHE and PLO cash games, online and live etc. etc.
But now when I'm starting to see a better vision for my future, as well as a being able to set a reasonable goal for myself, and recognizing the tools how to get there, I tought why not to give it a shot to make poker come a long as hobby in a systematic way as well! Poker is great way to get my toughts out of work and other stressful issues, and it is a great way to challenge and improve yourself.
Poker plan!
- Purchase a poker tracker. Done. Poker tracker 4.
- Invest on studying. As I opened 2+2 today I noticed this PLO launch pad by upswing. Seemed like a reasonable price and good and simple enough product for me to invest in and give my PLO game skill boost. Plan is to buy this in upcoming days.
- Prepare a bankroll management plan for poker. I'm really not sure nowadays what is a good plan. Is 100 buy ins good, or can we go as agressive as 50 buy ins? I think, for me, 50 buy ins is good because after all I have more significant incomes from else where and hope not to make this challenge too boring for myself.
- Start grind from the micros I'm used to. Likely PLO10 will be the stakes I will start from.
- Play tournaments with reasonable average buy in compared to cash game stakes playing at any time. Tournaments will be more rare for me because it is not preferable to play until night and then wake up 7 am to take your kids to kinder garden and and head "fresh and sharp" to work. I'd think average buy in of 5€ is good for me to start with.
- Rise at stakes to PLO100 / avg. buy in of 30-50 € with comfortable bank roll and skill level enough to feel comfortable playing in those pools. I think, there is no need for me to start stressing myself by higher stakes than this, to keep poker as a clearly secondary financial interest compared to business.
Sports betting:
- Find forums and tippers with good track records, and start following their ideas more than my own "i bet this because i feel like it is a good bet".
- Prepare a bank roll management plan for sports betting. For this I think I have a good idea how it works. And I think I need to keep bet sizes maximum at same level compared to poker, or more preferably slightly lower.
- With betting stakes we are talking about, I think there no chance to make this any reasonable income within 8 years and with volumes I will have. So this should be kept as completely secondary hobby compared to poker and other investments like stocks and crypto's --> Challenge is to keep sport betting this way and not kill my my potential in those with bad bets and too big stakes!
So in summary:
I will be writing here at least in weekly basis. Topics will be poker, sports betting, stocks, crypto's, maybe some real business and maybe some real life talk as well
How knows if this blog will carry through 8 years or not, but for sure it would be unbelievable achievement to be able to reach these goals and be able to share the journey!
Let us start.
03-13-2021
, 04:40 AM
Update:
Since blog start everything has gone super well:
Poker:
- PLO launch pad purchased
- Live cash games 29 hours, profit +1220 €. Blinds 0.5-0.5 or 1-1.
- Online games mostly tournaments + around 2k hands cash, profit +1910 $. Cash game avg buy in has been 10 €, avg tournament buy in has been 5-10 $.
Sports betting
- With 10 € bet avg bet, profit +250 €
Investments
- Index funds investments increased to 4500 € (up 314 €)
- Direct stock investments 1700 € (down -40 €)
- Crypto investments 300 € (all in IOTA atm)
Any tips for hype to come crypto's? My plan is to invest some what little and cheap, and hope to win lottery Maybe having only 2-3 different crypto's in portfolio.
Plan:
- Invest 500 € more into index funds and then hold
- Invest to crypto's, maybe total sum within one year for 1000 €
- Continue direct stock investments with carefullness and with time - maybe better to gain more cash than stocks at the moment and start looking for good timing
- Continue sports betting with "stress free" 10€ bets until.
I'd really like to show off and post couple tournament trophy pictures here, but I still don't know how picture is attached to post...
Since blog start everything has gone super well:
Poker:
- PLO launch pad purchased
- Live cash games 29 hours, profit +1220 €. Blinds 0.5-0.5 or 1-1.
- Online games mostly tournaments + around 2k hands cash, profit +1910 $. Cash game avg buy in has been 10 €, avg tournament buy in has been 5-10 $.
Sports betting
- With 10 € bet avg bet, profit +250 €
Investments
- Index funds investments increased to 4500 € (up 314 €)
- Direct stock investments 1700 € (down -40 €)
- Crypto investments 300 € (all in IOTA atm)
Any tips for hype to come crypto's?
My plan is to invest some what little and cheap, and hope to win lottery Maybe having only 2-3 different crypto's in portfolio.Plan:
- Invest 500 € more into index funds and then hold
- Invest to crypto's, maybe total sum within one year for 1000 €
- Continue direct stock investments with carefullness and with time - maybe better to gain more cash than stocks at the moment and start looking for good timing
- Continue sports betting with "stress free" 10€ bets until.
I'd really like to show off and post couple tournament trophy pictures here, but I still don't know how picture is attached to post...