One of the things that I'm "good" at is poker. Unfortunately, I'm not great. Although I have had my great moments, I've also had my shitty ones that have hurt me just as much as the great moments have helped me.
Overall I'm a winning player. The problem is my bankroll management is shitty. Not good shitty but shitty shitty. I have about 100 shoe boxes in my big ass closet that prove just how shitty my bankroll management is in poker. Win $500 in poker? Great, let's go to Nike Town! Fail.
So no matter how much I win in poker, I'm never sitting on a comfortable bankroll because I always spend the money somewhere. It might be a trip to NY, a shoe store, paying back people and or bills, or even the strip club. The point is, once I win some money, I feel the need to get rid of it.
So I was on a bit of a hot streak and then I moved. From one lousy apartment to a nice apartment with a new roommate who was a great improvement over my old one. In fact my old roomie was so dirty that I didn't want to take any of the dishes I owned with me, nor much of the furniture. This meant spending a lot of cheese at Ikea, Ross, and other such stores (Target, etc.).
Goodbye, bankroll. Hello Best Buy credit card. That's another story for another day though.
Anyways a while back I took a small loan out against my 401k plan. Seemed solid, borrowed $500 from myself and the interest goes to myself as well. That was good. Then I wanted to take another loan out but couldn't because my first loan hadn't been paid back in full.
Well good glory the day has arrived. This time I'm taking out a loan for nearly $3k to use as my bankroll. No if's and's or but's about it. This will be my bankroll for the $200 games here in L.A.
If I lose it, then poker wasn't meant for me. If I win, I'm not spending the money on anything else.
Here are the details for your viewing pleasures:
I've already told a couple co-workers about it. One of them laughed at the idea that I was using my 401k loan for my poker bankroll. It could be a great joke by me or it could be a life changing loan. We'll see.
The biggest obstacle that I'm facing is my girl. She hates when I spend more time playing poker than I do with her. I've argued a lot with her about it but today I finally came to the conclusion that I have to keep her happy and play my poker.
I have absolutely no fucking clue how I will accomplish that but I'll try. This basically means wee hour excursions to the casino to play my cards uninterrupted. Fake basketball missions to earn a buck flopping a flush.
I'll let you know when this plan takes place as the loan hasn't been processed yet.
4years.
4 comments:
Tell the guy that laughed at your 401K loan that the loan will be worth more in a year's time than the 3K would in the stock market!
At least you have some control over it vs helplessly watching it tank on the stock market day in and out.
-TrueFX
Tell the guy who said, "the loan will be worth more in a year's time than the 3K would in the stock market" that he's an idiot.
Borrowing from a 401k to play poker is a desperate move. Pay it back asap.
lol both comment-post are right. just focus and win some cheese then pay it back.
just keep watching rounders if you need to re-focus lol
you can do it dog. take 'em down.
dcj001, how is your 401k doing so far this year? What, only down 35%? Must suck to be you.
Turning $3,000 into $4,000 playing limits you can beat throughout the course of a year would equate to apprx 33% ROI. Think your 401k is going up 33% this year? Even if it did by some miracle, you're still negative over the course of two years!
If he is smart, he will show a return better than the average 8-10% per year that stocks have over the course of the entire life of the stock market and then begin investing his profits back into the 401k to diversify.
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