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That MTT Grizzy

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Daniel Negreanu AmA Request
  TampaBayMat, Aug 08 2012

I think he'd do an AMA on reddit. Trying to build some steam behind this. Please upvote if interested. Thanks.

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Real-World Funds Allocation
  TampaBayMat, May 17 2012

I guess I'll just spill everything here? lol.

Approximate balances in each at the end of this week:

Checking: $1.8k
401(k): $1.5k
Online Poker: $2k
(the obvious thing missing is a Savings account): $0

Total: 5.3k

Work Income: Varies since I’m full-time hourly + earnable monthly bonus. I set 10% of my work check aside (pre-tax) for my 401(k) ~ $250 monthly [note: my 401(k) does not do matching].

Approximating this ~ $1900 monthly (take home)

Online Poker: Started with $200 in February, grew that to ~$2750 in 3 months, cashed $600 out last night to put in my checking account. Graphs/Data of results (cash games not included, but also insignificant): My aim for the time being is to keep $2k in this account. So… as I continue to make money, I’ll be cashing out back down to $2k regularly until my checking account to poker account ratio becomes more appropriate.

Tough to say how often ill be able to make withdrawals like this. Lets approximate $600/month.

Fixed Expenses (monthly):

Rent + Utilities = ~ $575
Phone: $50
Car insurance + Car payment: $200

Total Fixed Expenses: $825

(Monthly Income + Poker Withdrawals) – Fixed Expenses = $1675

I have no idea what my approximate monthly Non-Fixed Expenses are (gas, food, going out, girlfriend, etc…), but at my worst, I can’t be spending more than $500-600/mo (sound reasonable?)

So what should I do in an effort to save money/accumulate wealth with this extra 1-1.2k monthly? Any tips on how to adjust my current situation (the fact that my 401(k) doesn't match is a bit concerning to me)? Also, how should I handle the distribution of my poker account to checking/savings accounts..what seems like an appropriate ratio between the accounts?

Any semi-pro/pro poker players comments on this would be great.

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Back In Black
  TampaBayMat, May 14 2012

And it feels good.

Little recap -

February: Grinded the micro MTTs and made a profit of about $1k.

March: Approached by my coach with a backing deal, unfortunately there were limited spots and they wanted people who could play on PokerStars

I think I got so excited about being backed and being able to cash out my roll that when this fell through, I wasn't in the right mind-state to play anymore. So I supposed this + putting in a lot of volume in Feb. caused me to take a break for like 3 weeks.

March 25 - May 11: Played 10, 25 and 50PLO with varied results. Bottom line was that I made another $1K. I'd logged some months of experience with PLO prior to this stint, so this wasn't a big deal.

May 12: Doing my normal PLO grind, decided to play a handful of MTTs... found myself playing really well, placed 26th in a 5r for like 40 bucks or something.

I think that my hand reading ability and my ability to range opponents spiked really high due to the recent PLO stint. I felt really... aware. Kind of a weird way to put it, but yeah.. lol.

May 13: Sunday. Played about 7 MTTs (was busy till 1pm and the selection on Carbon is poop) and played really well. FT'd (5th) the 3r for $300 and had a low level cash for $17 in a $5fo.

To wrap up this little timeline report, I'm pretty happy about getting back on the MTT grind. Hoping the time spent playing 6max PLO will continue to bode well for me in the NLHE MTTs.

*I realize this is a pretty shitty blog post. I think this one was more for my benefit than anything. Graphs (once I figure out the enigma that is HEM2) in future posts, cause I know bitches love graphs.

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