Lol. Why? What’s the purpose? What’s to gain? No need to put worry in my wife if there is absolutely nothing to worry about.
If I was n trouble financially, I wd discuss w my wife. I’m far from in financial ruin. It’s astonishing the bright minds on here, don’t understand that.

K. Now I’m out for the night.

In theory in your current situation under individual arbitration this may be correct, and I hope that life continues this way for you indefinitely and the best for you. However variance occasionally happens. People become ill, physically or psychologically both of which could put a financial strain on, and reduce their ability to make further income, as well as some physical illness running up debt treating it. Sometimes Very happy functional couples randomly break down and divorce even in their 50’s,60’s, and sometimes beyond. Also, even in that situation you do have debt if married, maybe you have an iron clad pre-nup. That you took great precaution with. Maybe you’d get alimony in that situation from her having the higher income, either way you’d be paying child support most likely.

I’m all for the semi retired life, and not living on the American societal standards. But you have to prepare for the possibilities in the future of negative variance if you want to live on just 1k a month. If you put in a grind and assume around 3% swr from your portfolio, then at 400k invested in safe boring index’s you can withdrawal 1k per month for the rest of your life( most likely with low margin of failure) without much worry, and the. You can be semi-retired and any poker money is just gravy for you. My current goal is to grind out a 1mm life roll to crank out safely ~30k a year, and then just have any poker money be a bonus.

Have you checked out any of the early retirement forums on other sites? There are a lot of people out there trying to do the same thing you are.

must have been nice to live in a time when a part time job could cover things like college, a used car, or rent.

Canada we have OSAP which is student loans... part-time job during school yr, and full time during summer. Used car is what... $1500-2500 for ****ty econobox. Rent? nah... live at home and go to community college or nearby university. I don't think University tuition is as crazy in Canada as US though... so there is that.

not really the cost of the car, it's the cost to maintain and keep it on the road. ~$150/yr in registration fees, $600/yr for minimum insurance coverage required by law on a car worth less than 2k, then you have to factor in gas + maintenance depending on your usage. a used car ends up costing at least $150/month on average to keep on the road. that's around 15-20 hours at minimum wage, so 1 week of part time work per month goes toward the car.

a 2 yr degree from my local community college only costs around 4k if you live at home and don't buy books for classes. from experience I'd estimate another $1k/year for books minimum. if you don't live at home or have parents paying for your rent then you'll need the car for two purposes

a 2 yr degree isn't really worth anything though, so have fun shelling out 15k/year for 2+ more years finishing your bachelors while getting charged out the ass for parking permits ($600/year, doesn't include summer though), books etc.

this is all usa experience, idk how it is in canada. maybe you guys haven't screwed things up so bad

Maybe I missed something, but from what I understand...after torching 60k from his and his wife's HELOC via one penny stock at full margin...his solution is to spend 40k on a brand new car, then business as usual?

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he is leasing it so it's 22k over 3 years

I think BS is the kind of person who couldn't possibly ever have a lot of money, just not disciplined enough, hang on to your kids and wife because this is what matters anyway, you won't ever be rich but it's not a bad thing

Find a better calculator to look at...

Ok, deal. Go tell your wife right now to take the full HELOC debt and start your new roll. How much are you starting with?

What does a repo'd Tesla cost?

How are all those things you say you don’t worry about going to be taken care of? Sara is covering them?

If you are using $1/k month as the number you make in poker (which I agree is probably low for you) how is your roll growing $1k/mo? You have $0 in expenses?

This is turning into the trooper97 thread all over again. One person is living his life how he wants to live it, a bunch of other people unable to see how another person can live life differently than they do, and try to tell that person how to live his life.

Is a model 3 big enough to sleep in? Asking for a friend.

Not exactly the same. Trooper never wanted advice, op on multiple occasions has asked for people's opinions.

What is similar to trooper's situation in that most of the advice seems to be the same and it is unlikely hero is going to follow it.

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Lol BS has people so tilted they are creating troll accounts lol

LOL, pretty creative username though I must say

Above posters, I don't think people are telling BS the way to live... just to be financially responsible as he's got 3 kids, wife, etc etc.

BS im not trolling. I want to know more about your stay in the psychiatric hostpital stay. i saw posts being deleted about this. mental illness is serious.
how bout we talk about it? How old was you, how long did you stay?
has this helped you or hurt you? Do you stay medicated?
You are the 2+2 goat!

These may be bad choices...but are not examples of entitlement. Unless you're redefining the word.

Ray will never be the Trooper because he is a proven winner at 1/2.

Give your advice and/or opinions once and then leave it be you ***** !

OP, talk to your accountant (assume you've had interesting tax situations as a self employed gambler for years) about your options for writing off future poker winnings, stock gambling, and side-incomes like tennis lessons...all of these have different rules/options for how you can gain most of that 60k loss back over time via writing off against it.
Off top of my head I don't remember but there's a small amount you can write off against any sort of income (want to say it was 3300 a year 5 years ago so more now) and it carries forward year after year until you've written off against that loss....ie next year you make 40k of non-stock income it lowers your 'taxable income' to 36k or some **** so that's hella nice compared to when I was pro poker player and you couldn't carry losses over like you can in stock trading/investing.

it's $3K/year carryover, so he will get something back, not "most of it" back lol

also $3K in X number of years will not have the same buying power as $3K now

Good advice... totally forget about the tax lost write off. Assume he wasn't trading in a sheltered account, so that is quite a write off. Does being a "professional" gambler have to pay taxes in US? In Canada it's a bit of a grey area... doing it part-time you definitely don't have to, but if do it full time for sure as a profession. That said I'm sure all the full-time grinders at the local Casinos here, none pay their taxes or track/report very little of it.

Yes in the US you have to pay taxes on gambling winnings unfortunately. OP did say he hasn't tracked results some years so who knows how he does his taxes...

Hero steals from home depot. You think he is reporting his income on taxes?

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