Good point.

Rayz if you could back I guess it makes more sense to have not paid of the house loan. I’m guess I’m stating the obvious.

Make sure that there is no penalty for early pay-off and of course GLGLGLGL

I've gotta little idea where your head's at

Interesting Life/Thread for sure, different perspective on the world.

IF I was in your spot...

Take a full time job around town to establish an income (not sure of your degrees/past work experience) and start earning some basic income to support the day to day requirements in your life, save for the future, and build for my children's education.

Eventually, take a $15,000-$20,000 loan and grind 1/2 and 2/5 games until the loan is paid off before taking out any profit for other life expenses...assuming you still want to grind poker.

Personally, I would much rather learn to grind day trading or even DFS over live poker in IN/OH. Live games are raked way too high at the 1/2 level and many of these games are filled with grinders/nits.

Additional Options...you know a bunch of poker players and seem to have a solid reputation for the most part.

Why not run a home game off tips? Would be a good way to work on your game as well seeing hands without having to play.

Maybe we will play in 2019.

Over the next week we will continue to think things through. This is my thought for the day. For those that use RH or financial wizards am I thinking correctly here?
Hypothetical...Say Easy Spot wants to buy 70k worth of stocks with his own money. But in a strange deal w his gf that 70k is getting taxed at 2:9 interest rate.
Wd it b better??????? to take 35k (still tax at 2.9%) of his own money, buy the stock w margin up to 70k worth of shares, using RHGold.???? *Paying a small $10 monthly RHGold fee ~ over a course of year $120. RATHER THAN, an additional 35k of his own money (70k total) getting tax at 2.9% ????

that was something I thought about after I sold my Melody Apartment last year. Looked at mayb opening up a poker room.
In my house, single or 2 table, or wsop league, is something that always crosses my mind too. It prob won’t happen tho.
The thing is, people think I need to find work or get a job. They don’t understand I still hv 105,632 cash. Also getting an avg of 25$/hr/per student @ 15students/wk. Long term poker avg of high $30s/hr. I’m good. Not great at the current moment, but gd. Great is coming #semiretired style. Believe. I’m setting me up for gamble spots. I will continue to do RTA and Poker. Nothing pays as gd.

Ignore the monthly payment because the term wd b 10 years (paid off at the end of yr1).
But roughly saving about $450 buying on margin than using the extra 35k of my own money getting taxed at 3%

Thanks.
The lady I spoke w yesterday at 5/3rd bank....which seems like the best place for the hel after doing some comparison shopping. Most places just go w prime from the jump and may gv a quarter discount off prime if hv an acct w them.
Lesson in this, compare pricing always a gd thing, and saves money long run. Money save is money earned.

Back to question, she said it’s a $300 penalty if paid off within 3 years. Once I told her we were planing on paying it off n a year, she said we cd do that but to leave the acct open at $0, and close at the 3rd year. This will get around paying the penalty.

.

Also found out that 10 years is the most 5/3rd can do on length of terms. May hv to get less than what I was wanting. I wanted all of my $105,672 owed to me. But to make it more affordable monthly payments for Sara hv to go down to 70k. So $70k 10year (which I will pay off n 1r) shd put her at the same amount as she paying me now...$700/mo.
The remaining $35,672 owed will just be added once I pay off her loan after 1yr and finance her again interest free at $700/mo payments

The plan w the money.
1). Take $35k plus margin (additional $35k w RHGold equaling 70k) on shares been watching for about a year. Sell sometime within a year hopefully for profits.
2). $1750 on golf membership to Covered Bridge/Champions Point championship courses.
3). $20k on the pokers.
4). $3250 on a used vehicle only if truck fails me.
5). Emergency money can b pulled from 1 or 3 if emergency situation presents itself.

End game goals after a year:
Turn $70k into $100k w hopefully gd returns on poker n stocks. Seems very doable. Pay off Sara’s laon and fincance her again. At that point I hope to hv $30k cash, getting $700 month in Sara pays, and getting closer to Tesla/Buzz purchase.

Where? Please No penny stock again? He doesn’t know how lucky he got!

What do you do if the stock goes down 50%?

Why run the added risk with the margin? If you use the margin I hope the strategy includes some option hedging to protect the down side.




Sent from my iPad using Tapatalk

How unlucky I got. Selling the 1s and now it’s 7. Fml

When I go hard on a stock bet or poker decision, I willing to lose it.

Still 2 months out before I get my $70k and sm of the stocks may not look appealing to me at that time. Things change. But want the money available just n case I find an opportunity presents itself

Originally when I thought I cd get all of my money, $105k, I wanted to put $70k on stock. So now knowing $70k will b max, I can still get it to 100k w margin...And no interest on that margin. So it’s actually better than the whole amount.

I like the plan! Glgl

Instead of a bank loan how about getting staked, for both poker and stocks? Start small, no risk on the house.

I can’t believe you want to reimburse her on the interest accrued over the first year!

Do you not realize how much money you are saving her on interest free over 15 years? $30,000-$50,000?

Inflation and value of the dollar even more you are not thinking about.

Cross the Ts and dot the I’s. Ok

Not set in stone yet, but we in the process. I refuse to b put in a bad deal. It’s all about how much interest I wd hv to reimburse at eoy. I dot wanna screw Sara or myself. If we can keep the interest amount low month to month that’s the main thing. I like my money working for me, and wasted money paid in interest IS NOT working for me. Lady says $72 going towards interest ea month ~ $850 by eoy. No fees or closing costs.

So the opportunity cost to get my $70k is $850.
So is it worth it? I feel it is. In a 1yr time I can easily turn $70k into $100k (30k profit) a whole heck of a lot easier than I cd w the low funds coming in now&not much of a poker roll. *Sure I can survive how situation currently is, but can’t save much.
Hence, i do believe the $850 interest paid will b worth the amount I will have saved after 1yr. At that time, loan paid off from the $100k+ I run up, $30k saved, Sara pays coming in again monthly, and getting us closer to Tesla/Buzz.

I want to do everything w my own money. I don’t want debt...it will b Sara loan. Her borrowed $ to pay me a big portion of the $105,672 she owes me. Even tho I will b paying it off for her after a year and financing her again.
I want that $ go heavy on a stock if it can drop just a little lower and to build from that. 70k to easily $100k still living the #semiretired life.

Don’t wanna renig on my orginal no interest deal w Sara. What’s in it for her, to apply for the heloc if not?
Kind of feel weird taking monthly payment from her as is, but I just can’t pay her half of house, can I? That’s a lot of money.!Maybe these our the reasons I never married. It wd b even weirder if we were married.
Yes @Da_Nit I am still very very very glad i paid off house last year. Look at all the money I am saving on interest! Its huuuuge!!! Man, I just wish she had her funds to pay her half.

Did I miss what stock Ray Ray throwing 70 at

Papa Johns

Haven’t played poker since we busted our roll last week. That was followed w getting robbed of RTA $ at park while giving tennis lessons.

We will overcome all of this. No sweat.

Knox turned 2. We got that boy! Won that flip! #bluecap
That vlog was a game changer. Wish I wdnt hv deleted it.

What an idiot he is. Surprised it didn’t drop more.

W some more RTA $ coming in later n week, shd hv a buy n ready for next Monday. Also get Sara house pay few days after that, so may b able to play a couple of times. Just b chilling that #semiretired life until then.

I’ll report back once we reach the felt, or if any questions,. or if anything changes w me. Everyone is up to date.

Peace for now.

Have you ever got unblocked from their Facebook page? Why are they blocking you? If you have talked about that, i sorry
You haven’t missed anything. I finally chop a noon tournament and no picture. New person Dave was gonna do so much better and it stopped after a month.