1. Buy 217,319 Link tokens, 1k eoy!
2. Move out of parents house, buy 4 family home close to major metro and wage slave job, maybe make some cash flow.
3. Move out into rental and buy crypto/other investment (must say which)
Explain your choice please. This isn't hypothetical for me and I'm losing my mind deciding, already got a 50k link stack
You're saying you have $50,000 to work with and you want our help deciding what to do?
autist screetching** yes
>spend ~$12,500 and build your LINK stack up to 50k
>move out to a rental, try to find some roommates and try to spend $500/month on rent, max maybe $750.
>find a job
absolutely don't buy a house, you'll be slaving away on the payments for years. If you really want, you can out more money into LINK, I just think 100k is a nice number to have if you can afford it (20k stack here :/)Try to find a nice job and keep saving you money. What's your overarching life goal?
*up to 100k
So i've got a 6 fig job if i do well, its just stressful af and i cant do it long term. I was thinking having several people paying the mortgage each month would essentially make it a small risk.
I've got a 50k link stack, 25k req, 5k xlm, some others too.
I know this is a crypto forum so im expecting to hear #allin
Overarching life goals, quit waging and pursue athletic hobbies full time while building some kind of passive folio (Real estate, link nodes, amazon fba' businesses etc)
Whatever you do don’t invest all/most of it in crypto unless you’re fine with losing it. Not joking. Put at least some of it in passive ETFs and/or a very diversified stock portfolio.
ive got a 401k that i maxed my first year of wage slaving, around 35k currently but i only contribute 6% for the match. looking to get more crypto exposure and real estate as well bcuz i dont want to retire at 60 when i can access those funds.
Fwiw I have 650k in investments and live at home atm (will buy an apartment soon though). 530k in stocks, 80k in crypto and 40k in cash (will Invest most of the cash soon).
damn how old r u and why u no move out
based bread btw
I’m not American so I’m not too familiar with 401ks. Just be very careful with being overinvested in crypto.. I’m bullish on crypto but it could unironically go down 80% from here (alts even more). Good luck.
23yo. Made all of it from online poker, crypto and stocks. I have a very good relationship with my mom and she lives in a huge apartment. I will move out as soon as I find an a apartment ai really like.
Nah, I'd only say go all-in if you were a poor wageslave or college student (like me). Take risks to build wealth, diversify to keep it.
ChainLink is more likely to be above $100 by 2020 than below $10 imo. A 100k stack would set you for life, and you can afford it without too much hassle. Right now I'd suggest you take some risks and just go for it. Real estate is fantastic once you've already built some wealth, otherwise you'll just be sitting on something you have you pay taxes and maintenance on for a relatively small return.
Damn, is online poker your biggest source of income of the 3?
congrats man, thats genuinely awesome. i live with rents too and while im always welcome here its just a shite place to advance personally.
with that cash stack you have a ton of options, i dont know that i'd buy an apt if i we're you. personally id probably take a long time to figure out where i really wanted to be and THEN get something more long term
so are you advocating for adding to my link stack, or nah. how would you break down the 50k?
Thanks man. That’s kinda what I’m doing right now. I don’t want to rush things.
Real estate is a safe bet, provided you land tenants
Alternatively, you could all in on link and sell in a month for 20% profit
I'd say get your LINK stack to at least 100k, or however high you're comfortable with. From there you'd have $37,500, which you should use to rent a place. I'm not sure what you should do with the rest of it... do you want to invest it all, or do you want to have some savings?
It is. I've won 500k+. Spent some of it on travelling, enjoying life etc. Online poker is insanely competitive and it takes a ton of studying and skills to make it to the top (and even then the vast majority fails). It's by no means easy money. Als, the short term variance can be quite stressful. I lost my database some time ago, but pic related is some of recent results.
they say to have 6mo saved up for an emergency but where to put it is the real question. in previous years they advocate for a liquid allocation like a savings account.
I might be more comfy using an emergency savings allocation in btc, still liquid and has some upside..
Not overly worried about landing tenants since im in a place similar to SF, NY, BOS
whats your poker strategy? do you move some winnings out of sight to not #allin
how did you learn?
damn dude, you're a wunderkind.. do you have any resources for where to start studying?
I might be a little biased against buying a house since I live in South FL and housing prices have skyrocketed the last few years, but it might not be the same where you live. You should have at least a few grand in a savings account for quick access, but btc sounds pretty good for most of it
I can't explain my strategy on Jow Forums and wouldn't give away for free (sorry). Strategy is really complex at high stakes. It would take a months of coaching to teach you my strategy if you're smart/talented and work really hard. I play sngs now but I have played almost everything in the past. I have more than 1500 buy-ins for my average buy-in level so there's 0% risk of me going bust. My biggest downswing was about 22k (less than 5% of net worth).
In the beginning I just learned by playing. Then I subscribed to some training sites and learned a ton of useful basics. Nowadays I discuss strategy with other pros, analyze statistics & hands and use AWS to compute approximate game theory optimal solutions.
Start by learning very basic nlhe 6max strategy: preflop hand selection, 3betting, post flop sizings, position etc. Then practice at micro stakes or play money. It will most likely take you months to get good enough to beat just 0.01/0.02 6max. Once you get the basics you should buy a subscribtion to a training site like runitonce (you won't need their elite plan in the beginning, just go for the cheap one). When you are good enough to beat micro stakes you should buy pokertracker/holdem manager (shows you live statistics on players at your table that you can use to exploit their mistakes). Once you can beat high micro stakes/ low low stakes for a decent win rate you should consider transitioning to a different game (6max omaha, tournaments, sngs or spin and gos) as there isn't that much money to made at holdem cash games nowadasys (but it's the best game to learn basics). Lmk if any of you have any questions.
And as I said, it's by no means easy money. It takes months (if not years) to get good enough to make decent money. Treat it like a video game; play because you enjoy it and try to improve as much as possible. The mental apsect of poker are also extremely important. You have to be able to control your emotions when you lose and/or get unlucky and still play well. It's a lot easier said than done.
thank you fren, I'll look into these. I want to be a game theory master like you
Wanted to thank you frens for an actually good thread, lately this board has been hell.
Good luck poker bro!
Np frens. Good luck to you too. You can find some free basic strategy and training videos online for 6max cash game (just use google). Some extra tips: bankroll mamangement is very important, tilt control is very important (quit if you're not playing well no matter how much you've won/lost), don't chase your losses, make sure you're beating your current stake over a decent sample (e.g. 10k hands of 6max) before you move up in stakes. Remember that the vast majority of people who play poker lose money so it takes a lot of hard work and skill to make it (much like day trading).
Get up to 100k link and move up and rent until the economy blows up and then buy a condo or town home for cash move out in 2 years and rent it then use that rental income to pay for the mortgage on your next condo then move out in 2 years and repeat. In 10 years you'll have a nice portfolio of rental income each new rental paying down debt that much quicker.
Good luck.