Sunday, June 20, 2010

Money Management

This blog is more tailored towards my poker buddies, but you may be able to find applications as it applies to your lives elsewhere too. Having a good chunk of money as a 'kid' is an interesting spot to be in. While not many people make a great source of income out of poker, many of the few that do cannot hold on to it long enough to get full satisfaction from it. People will read my blogs on traveling and such, or see my facebook status, and just assume that I blow through my money and am reckless with it at times. This could not be further from the truth, I recognize that poker games are much worse these days, and so less money can be made from them. I have enjoyed all the freedoms working for myself have brought me so I intend to be smart with my money so that I do not have to work for someone else.

That being said, I do enjoy my money and ensure that I use it to have a great time. Even right now, while I am staying at a 5-star resort for this month in Thailand, I have budgeted for my next huge trip over the course of 3 weeks. While it was rather expensive to book flights everywhere, I do not plan to be put up at the most expensive of places. I budgeted and thus we are staying at some hostels as well as some hotels. We did some good research and are trying to keep it in a certain price range while still having a great time. If anyone seeks any financial advice you can post here and I can let you know how I have everything structured as of right now. My investments right now at 24 years old are as follows:

Minor owner of a health chain restaurant: Muscle Maker Grill

Part owner of a rental property in St. Augustine, FL

Maxed out Roth or Traditional IRA for 3 years now

Full contributions to SEP IRA yearly now (self-employed retirement fund, comparable to 401k for a company)

Liquid cash: 40% in stock market, brother who is a CFA helps with figuring out my long term and short term goals to help allocate the money, 30% for online bankroll for poker, 30% in bank accounts to cover anything that comes up, have a good time, and also for when I purchase a house as a partial down payment or decide to start a business.

There is a lot I am forgetting and many more options. For poker players, a bunch go broke because they go out and blow it all, not realizing they are only getting temporary satisfaction, and making it so they will not have secure futures. Countless others venture into the business world spotting people too much of their capital without truly realizing the scope of their business and its downsides. Hope this helps at least one person, I know for a few years I was pretty clueless what to do with my money, and had it sitting dormant in bank accounts.

Friday, June 18, 2010

World Travels

Originally I had planned to stay in Thailand with Laurie for 2-5 months. As is the case with me though, I quickly alter my plans often staying in the moment. We love the Thai people and the 5-star resort we are staying in. However, we have decided that while we are half way around the world, we might as well see more. So after this month, we are leaving Thailand to embark on a journey that will take course over a little less than a month, here are some pictures of places we are going. Of course I will post as many pictures as I can. I had a crappy camera because I accidentally lose and break things alot, but since the sites are so amazing I have a new camera being shipped to me better capture our surroundings. Before I get started with the pictures I'd like to thank all the fish who have deposited to my travel fund through out my poker career.

Chang Mai, Thailand
The Wat Chiang Ruins

Bangkok, Thailand
The Marble Temple

The city during the day

The city at night time

Phnom Phen, Cambodia
Angkor Ruins, perhaps the largest ancient city in the world

Kuala Lumpur, Malaysia
Their City

Bali, Indonesia
Bali is known for their beautiful oceans

And the views you can get at sunset

Melbourne, Australia
Some of their architecture

Their city

Sydney, Australia
The Opera House

Honolulu, Hawaii
The Coastline

Up there with the beaches I have been to

After this, I will sadly be going back to New Jersey, then most likely moving to Florida

Tuesday, June 15, 2010

Altering Plans, need ideas

Hey everyone, thinking of cutting Thailand trip to 1 month in order to see alot more of Asia/Australia while out here, post anything you'd recommend doing if you were out here, videos are welcome, could use some good input.

Tuesday, June 8, 2010

Infiniti Pool at our Apartment

Here is a video of the nice pool area, might play some over here if i can find a plug in, maybe play standing up at the edge or something

Monday, June 7, 2010

Apartment in Phuket

This is our apartment in Phuket, I'll post more video when I have it. Great view to grind to, playing on the balcony when I get the chance, just been enjoying the culture so far though.

Wednesday, June 2, 2010

Thailand Flight tomorrow

I leave tomorrow for Thailand with Laurie at about 10:40pm. The total flight time with connections is approximately 26 hours. With traveling too and from the airport and getting ready we will be looking at about 36 hours of getting ready and settling in. It will be an exhausting day, but one I am looking forward to. We got our vaccinations today which were pretty steep for shots. It cost just under $700. The main cost was a $170 counseling fee by the doctor that took him all of 5 minutes to explain what we already knew about Thailand. That fee was for each of us which is pretty absurd for just that, o well. Not much else is new, May was a mediocre month as far as poker goes. I was busy seeing family for holidays, birthdays, and the wedding. I'll update with some pictures when I get there. I'm very excited and ready, have to pack tonight, going to probably end my poker soon for the night. It will be 4 days off or so which is a lot for me. I couldn't get the Yankees video uploaded as I think it was too long. Hope everyone is doing well.