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Thread: What do you do with your money?

  1. #1
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    Default What do you do with your money?

    I have a question for some of you with a large BR,

    I have been putting away money for sometime now while I have been practicing. I have enough of a BR that it is starting to bother me that it is only sitting in a savings account. I am assuming that some of the big players have a few trip BR's with them but what do you do with the rest of it?

  2. #2
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    Quote Originally Posted by Morphy View Post
    I have a question for some of you with a large BR ... what do you do with the rest of it?
    That would depend on how much BR...

  3. #3
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    in the ballpark of 30k

  4. #4

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    For 30k, keep it at home, somewhere safe. Like a discreet safe. If you're constantly depositing and withdrawing cash, eventually you may get some attention from the IRS or Treasury.

  5. #5

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    Agree. $30k is too small to be inconvenienced by not staying liquid at all times...
    ... assuming IF its a fully segregated BR exclusively or primarily for BJ or other AP stuff.
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  6. #6
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    Quote Originally Posted by zengrifter View Post
    Agree. $30k is too small to be inconvenienced by not staying liquid at all times...
    ... assuming IF its a fully segregated BR exclusively or primarily for BJ or other AP stuff.
    So what are you recommending....a shoe box? Oh wait that's been done.


    At the start of each year, I reset my BR to 100k, moving any excess to my personal funds that I place in longer term investment. This conflicts with what Kim Lee tried to teach me, which was one's BR consists of all assets, even home and car. I just was never able to wrap my head around that concept. And I haven't had to as of yet. Perhaps if the day ever comes that I mortgage my paid for home, to add playing funds to my bankroll, I will be forced to accept that thought process, but I hope such a day (and downturn) never come.

    So, I start each year with 100k, half of which must be completely liquid. That amount of funds is rather high for someone that plays my level. But because I play the same rotation of stores, (rather than a great deal of travel as some pros do), I utilize a chip inventory, which results in this higher completely liquid amount than usual.

    The "chip inventory" has the benefit of allowing me to enter games, without the dealer notifying the pit, as well as avoid trips to the cage (best camera opportunity for the casino), especially right after I session in which I have been exposed. These two aspects are a real positive to longevity. So while it burns me a little that I have to have a higher than I would like amount "tied up" in chips, making me no money, it is the trade off I must make. It is what it is.

  7. #7
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    Quote Originally Posted by zengrifter View Post
    Agree. $30k is too small to be inconvenienced by not staying liquid at all times...
    ... assuming IF its a fully segregated BR exclusively or primarily for BJ or other AP stuff.

    Well it's in a savings account now, I only have a small session buy in, but to be clear it is pretty much what i have carved out to dedicate to BJ once my skills are at the optimum level.

  8. #8
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    Quote Originally Posted by KJ View Post
    So what are you recommending....a shoe box? Oh wait that's been done.


    At the start of each year, I reset my BR to 100k, moving any excess to my personal funds that I place in longer term investment. This conflicts with what Kim Lee tried to teach me, which was one's BR consists of all assets, even home and car. I just was never able to wrap my head around that concept. And I haven't had to as of yet. Perhaps if the day ever comes that I mortgage my paid for home, to add playing funds to my bankroll, I will be forced to accept that thought process, but I hope such a day (and downturn) never come.

    So, I start each year with 100k, half of which must be completely liquid. That amount of funds is rather high for someone that plays my level. But because I play the same rotation of stores, (rather than a great deal of travel as some pros do), I utilize a chip inventory, which results in this higher completely liquid amount than usual.

    The "chip inventory" has the benefit of allowing me to enter games, without the dealer notifying the pit, as well as avoid trips to the cage (best camera opportunity for the casino), especially right after I session in which I have been exposed. These two aspects are a real positive to longevity. So while it burns me a little that I have to have a higher than I would like amount "tied up" in chips, making me no money, it is the trade off I must make. It is what it is.
    I agree it would be hard for me to consider my 401k and everything else i own as a BR. I never considered a chip inventory...

  9. #9
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    Quote Originally Posted by zengrifter View Post
    Agree. $30k is too small to be inconvenienced by not staying liquid at all times...
    ... assuming IF its a fully segregated BR exclusively or primarily for BJ or other AP stuff.
    Thanks, I won't worry about my 30k sitting and doing nothing, its a large sum to me but I realize on the grand scale of things it's probably chunk change..

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