100.
And that’s the bigger picture. This 100k money grows easier than $700 monthly pays.
Well said. On board

The bigger picture I see is it making sense for Sara to give loan to the father of her children so he can start making a decent income again. OP has a proven track record of making money off poker when properly rolled. It would be good for her to to give money to Rayz for a proper bankroll so he can start bringing in income and contributing to the family.

One thing why not something smaller like $20K? That should be enough to be rolled to play your game?

The daycare to save a few hundred bucks always makes me laugh. That one I prob shd have not done. That $4k (or whatever it was) payment cd hv been more valuable on the felt than the money I saved.
Same scenario w $100k...bigger picture...that money will earn more than 2.9% money lost.

100.

Smaller like 20k?...thought about that. Almost just rather b paid off entirely if had the choice. May want that opportunity to throw a big chunk on some stocks been eyeing.

I'm definitely not bashing and probably misspoke, I'm sure you've made some good financial moves. And agreed that guy can't put a price on happiness. I followed this thread in its infancy bc I enjoyed your approach to poker and life. I stopped following for a couple of years and just recently started reading the posts from the last few months, and based off that, it seems like you keep putting yourself in bad spots financially, hence my question about your management skills. If you had just got a part-time job during the last 3 months, you would have a decent bankroll and retired again but still able to play in all your regular games without fear of busto. That said, if you really do have good money management then just settle with her by having her take 95k (or some other discounted amount that you both agree to). You get the lump sum and she gets a discount, even though she pays interest. Take the 95k and start doing some damage! GL.

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Your odd commitment to being “semi retired” is going to cost you big in the long run. You’re basically living like a bum right now and if you get a loan I predict you will blow through it in a year. Get a job. You have a family.

@Ralphino thought about some kind of “deal”/discount for better appeal. Not fair for me, but she is locked in interest free currently.

Isn’t living like a bum what semi retired is all about? When not RTA, I’m spending time w kids and living life. Semi retired style.

No need for a job. Poker and RTA is all I will do for the rest of my life. Mark it down. If we blow through a $100k, it’s still all I will b doing for the rest of my life. Semi Retired will not go backwards. We move forward to eventually fully retired.

This is like talking/listening to an addict. Disappointers never disappoint.

Have to disagree with it not being fair, but seems like you have your mind made up. You are obviously determined to do it your way and you'll probably get by and eventually make it. You're just making it harder than it has to be and limiting your own success... but then again, it sounds like a big part of your happiness is tied to this belief that you truly are retired and can dig yourself out of this by scrapping ahead with very limited income and no bank roll, and if this is your thing, best of luck.

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What stocks do you have your eye on Ray?

Im in agreement with the smaller then 100k loan.. leaves you an out if things go sour. Always leave yourself outs going to the river.

@almedin rather not say because it may not happen. This is a #fulltransparency thread doh’.
Is it ok to invest in things that u don’t really like, but the price is making u like it? Still too high of a share price for my liking, but been watching this hype for a year now. That share price is getting close to my likely.

In response to some other doubters, u hv to believe. No one wants it more than me.
The current lifestyle is fine, but not how I want it to b for much longer. I need and will get that run up. I still smell the roses, I’m gd. Things will get better. One thing I know, I bet on me. My investment is me. We try our best to do things for the betterment our life. I value money and every purchase has thought behind it. Not always right, but am trying to make the most +ev decisions. W 3 kids, I can’t afford not to. Believe.
Appreciate all the concern and wise feedback. I hv been storing all of it in my mind. All information is gd. Thank u posters. Believe, believe.

Speaking of info, got more today. The 3%ir is only for 12 months; then following months based on prime. That is a big varuable to this equation. I am now thinking, yes it wd b great to b paid off and hv her paying the bank instead. But, BUT I also hv compassion for her feelings of paying all that added interest. Ouch! I’m not sure I can get on board w that. Since we a team, not see if I want her to do that.
@babaloos & others who hv mentioned...going smaller $ may b the better option now. Pay it off in 12 months for 2.9%. Although, she cd still get my full 100k amount and I cd pay if off n a year. Then go back to me financing her.

What about 10k? That's roughly what you'd receive in a year from her, so could easily be paid off before prime rates kick in. And not a bad bankroll for 1/2.

Why not more and play in bigger games? Op could make more money sitting in 2-5 5-10 and still pay off before prime. Come to Hammond our bigger games have been super splashy.

It isn't him that would be paying it off. That'd be ideal if it was him paying off the loan.

If I was in your shoes I would only take out like 50 tell her that we'll use some of the money for a wedding buy reliable car no need to buy a brand new Tesla and then you still have 20 K left for poker that you can sit on and play comfortably

Hey Rayz,

If you wanna achieve early retirement just google Mr Money Moustache and try and apply some of his concepts. One step at a time.

Well I was looking to invest about 20k into a risky stock that could bring nice profits enph did so well. I would be willing to risk. And **** the haters. You are one of the best players around. But you do need a bankroll. Even if you don't invest a tip would be apprechiate do. If I do well I will hook you up at the end

Great recommendation. You don’t have to go to the extreme level that some do but a bunch of good ideas on how to get there.

I found this about a year or so ago and made several changes that helped the bottom line.


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I’m gonna try to stay on top of this thread. May not get to every question, but gonna try my hardest. This thread is important to me and keeps me in check. Ty

I may hv to gv MrMoneyMoustache a follow on Twitter.

How about I just discuss what we have decided to do. Before I do that, let me say that the current situation isn’t dire and getting by w RTA/HousePay/DaycarePay income. Not glamours, but surviving while living the #semiretired lifestyle. If RTA was year round (ends in Oct) i cd continue this chill style and anything made from poker wd b extra. So no fret, no panic, we gd.

What I think is my best plan tho, the 1 Year Plan.
The $ we get out will b paid back n a year. I told Sara that I do not want her to carry the laon into prime rates. I got u. It will b settled in one year by me. *So I won’t be buying any Tesla without paying off her laon first. in 12 months I will pay off her loan and finance that same amount interest free to her.

We decided the loan will b for the whole amount owed to me $105,672 set up w 360 month terms (even tho it will b paid off in one year). The money will go to me, and in one year I will pay off the balance of loan.

To make it fair for Sara, I agree to reimburse her money paid to interest over the course of a year. Estimate $1500. Essentially, she isn’t in any different shape than she is now.

We are keeping the numbers and logic simple. To dumb it down...basically Sara will pay me off entirely, but in a year (after I pay off her laon) she will make payments (whatever payoff amount is) to me again, interest free.

In conclusion, I’m betting that this money ($105,672) will yield more for me than if I continue the current route. Otherwise, I wdnt b doing it. I don’t need to do it, but I want to. Trying to get to that next phase (full retirement) faster.
My intentions w my money consist of many things. Maybe separate post is better here.

#FullerTrasparency

My man is about to unleash the fiery on a stock. Why else does he want all the 105,682?
I love my dude!

taking a loan to gamble, what could go wrong

It’s not his loan . Isn’t it his own money?