Why Most Pros Go Broke
Why most players who "throw everything away and go pro" go broke.
For example, a friend who has gone pro MAY have the MTT skills and is fine with factors 2-5, but having a mortgage and other debt that has to be paid monthly will be a HUGE challenge.
"If poker is your main source of income it’s a good idea to have a year of expenses saved up to feel secure."
For example, a friend who has gone pro MAY have the MTT skills and is fine with factors 2-5, but having a mortgage and other debt that has to be paid monthly will be a HUGE challenge.
"If poker is your main source of income it’s a good idea to have a year of expenses saved up to feel secure."
Comments
Being "pro" is so much more than just being good at cards.
I look at my friends that are good pro's, and they are the ones that are always grinding, take scheduled days off, plan travel accordingly, are smart with money, and treat poker like a business.
Being "pro" and being broke, dont belong in the same sentence.
This, without a doubt, is the smartest thing you have ever said on here.. And I'm not being facetious..
If you have a steady job, you should have at least 3 months of full expenses in a safety nest + your saving+rrsp
So for a poker player you should have your bankroll ,money paying your monthly expenses, 6 months of full expenses as a safety net , a Saving account where you save money for project X ....
With respect to that article, why would you expect poker players to be any different than other "pros"? An overwhelming majority of professional athletes are broke within a decade of retirement, and their variance is nothing compared to a poker players.
It is all about self discipline and planning. Always has been.
damn, wish I had some..
One year is not anywhere near enough.
For example:
If you play 50, 10K MTT's a year, you need enough $ to last until you die saved up. You may never bink another one.
Just IMO
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