0 to a million in 1 year playing online poker. part 6. Back to Basics

Well i just thought i would explain some basics of poker for you who don't know

TEXAS HOLDEM POKER.

Texas hold 'em (also known as Texas holdem, hold 'em, or holdem) is a variation of the standard card game of poker. Texas hold 'em consists of two cards (hole cards) being dealt face down to each player and then five community cards being placed face-up by the dealer—a series of three ("the flop") then an additional single card ("the turn" or "fourth") and another additional card ("the river" or "fifth street")—with players having the option to check, bet, raise or fold after each deal; i.e., betting may occur prior to the flop, "on the flop", "on the turn", and "on the river".

So what does all that mean? What's a flop? what is a turn?

Here we go i will break it down

1. Everyone at the table gets 2 cards face side down (that you do not show to anyone else).

2. The Button. 

This represents the person dealing.

3. Small blind/Big Blind. 

The person next The dealer is the small blind.
Now the reason for the name blind is he bets blind. Meaning he has to put some money in before the cards are even delt. And the big Blind must do the same but double the Small blind. And everyone else gets to look at their cards to see if they want to bet or not.

To make it simple. The small Blind will pay $1.00 and the Big blind will pay $2.00.

This can change, depending on the games you want to play.
This can be 1c and 2c blinds or $1000 $2000 blinds,
So we start off low and play at 1c and 2c blinds and then you get better you can go to games with bigger blinds.
Like
(5c 10c)
(10c 20c)
(25c 50c)
(50c $1.00)
($1.00 $2.00)
($2.00 $4.00)
($5 $10)
($10 $20)
($25 $50)
($50 $100). There are always plenty of games from play money to large amounts. You can always get regular games with $5000 $10000. per hand

What Level should i play?

Normally to play a game you want 100 x the big blind to play per game.

So you login and look for a game that is in your budget.
If it is 1c and 2c blinds.
You will need to bring in $2.00 to the game. (2c X 100 =$2.00).

And if the blinds were $1, and $2 you would want to bring in $200.

Just one more thing before i tell you about the rest of the game.
The above example of $2.00 a game means just that you will ned $2.00 to play that game.

So if your total bank balance is $2.00 you will get 1 game if you lose. So i work on having 100 x Buyin ($2.00) = $200 So you want

Example 1. 

Total bank Balance $200
Max bet per games $2.00
So look for 1c 2c blinds.
Total minimum games you can play 100

Example 2

total bank balance $1000
Max bet per game $10
5c 10c games.

So in my formular you will need $20,000 before betting on $1 2 blinds

= $200 So you want
Total bank Balance $20,000
Max bet per games $200
So look for $1 $2 blinds.

Ok back to the game.

The small and big blind automatically bet. And the big blind amount is now the minimum bet you can bet.

Then the cards are dealt. Everyone can look at their cards.

From here you decide two things.
I should i play   or i shouldnt i play.
We decide this on how good our hand is.
If you don't want to play you FOLD and you wait untill the next hand.

If you "want to play" you have 3 options.
You can Call
You can raise.


This means you put the same amount of money as the Big blind

SO the person to the left of the big blind is first he needs to put in  2 c. to play. Or he can bet more. It then goes around the table.

LEARN ALL HOW TO PLAY POKER HERE

Weekly target $3.80
Weekly actual $227.48Previous weekly total $154.23
Increase $73.25
Total Per hour $00.43c

Oh by the way whooo hoo we made it over $200

Online Financial Training Series Lesson 7 (Retirement Plan WEALTH BUCKET part 3)

Before filling up your wealth bucket.

We need to know why we want money and that it is a good thing to have an abundance.

Everything you want you can get. We can get food, shelter, water, cars, planes. Pretty much what ever you want. Below is a chart that shows you a hierarchy of needs. When you don't have one, all your energy is focused on that one thing. And will consume all your time.

First is oxygen.

Will you worry about cars and even what you are going to eat at dinner. If you don't have oxygen? No, your body will fight tooth and nail until that need is filled to survive.

Then shelter.

If you live in extreme conditions. You could freeze or die from heat.

Then water.

We need water or toxins will build up and cause permanent damage or death.











Then sleep.


We all know how hard it is to focus or do anything when we are tired.







Then Food.

You can survive weeks without food, but some people cant do anything if they miss lunch.
All these, a basic necessities of life and you must get all these before you can think about doing anything else. Most people are so busy "surviving" they cant even focus on or aim higher. So first plan is to Fill your Physiological needs.

Next step

Need for safety and security.

Now the only way we can do all these things is through money. Or finding someone who has them.

Yes, we need money for Food, water, shelter, sleep. And to feel safe and secure.

Living in a cardboard box or in a bad neighbourhood does give you shelter.

But now we are in need of peace of mind. You want to live in a safe place. Where you have access and all your basic needs are met. You want a place and money coming in where for the rest of your life you will not have to worry about the basic necessitates again. Now this means if you have a job you need to know the job is secure and will keep the needs filled. Or a spouse or partner you feel safe with.

Now for the good news. After we make money and have that covered the rest is just icing on the cake. The rest of our needs can be free. Best things in life a free once you feel safe and have your needs met.

We need love. I hate to say money will buy you love but no money will not.

You don't need a lot of money. But if a partner sees you can provide all the basic needs . You can move forward. And do other things. Like build connections friend ships join clubs and make and spend time with family.

Next step

After you have
Nice family, friends loved ones,
Live in a nice secure, house and feel safe neighbourhood, country.
You have access to oxygen water food shelter sleep.
This is where you can now aim to do something with your life.
Become a better person. By studying or creating things you enjoy.
And then can for fill you wildest dreams and live and become the person you were meant to be.
Once your free from worrying and have time all those dreams you pushed down and ideas you have left can now blossom.

Why else do we need this thing called money? And how do live life and get these things.

Through exchanging and bartering. Now we used to barter all the time.

You may want a coconut, and in turn, you will have to exchange something he would want in equal value. The problems with this was,

1. Things are not equal. 

For example. You want to get a coconut. But you are a sheep herder. And all you can trade is sheep. But you just want 1 coconut. But the going rate is 12 coconuts per sheep.

You don't trade in parts of sheep. So you either have to buy the 12 coconuts or pass. This is the same as today. Perhaps you are a car dealer and you want some groceries. You cant go in a shop and trade your car for some meat and veges.

2. You need something of value or need to the person you are bartering with. 

You want to buy a computer. and you sell toys.

He may not want toys, So you will have see what he wants, and will have to aquire it to get  your computer.

Perhaps what he needs is legal advice. So you have to find a lawyer that wants toys. You say to the Lawyer  If  I give you this much in toys will you give this man legal advice. And when he agrees.
The lawyer gets the toys, the man gets legal advice, and you get your computer.

It was a complicated system. And barely worked if you had nothing anyone wanted.

So we decided  compare and value all products and services under one system.

And come up with an ingenious way to barter. We call money.

Everything is now valued in a currency in 1 cent increments (depending what country.) to unlimited. And how we value this is on supply and demand and rarity.

Everything will measured in this way. So coconuts are for example 100 cents. legal help may be   1000 c, toys might range from 10 c to 1500 c. You can now put a price on your product. And people will pay you this "money" for your products. And everyone will accept  and use this money system.

You can now just give him 100c for a coconut in turn he can buy what he needs.

With that 100 cents. He can buy what ever he wants. And will not be worrying what he has to trade is what the person  wants.  Instead of only being able to offer your sheep at 1200 cents and just get 12 coconuts . You can sell your sheep to others at 1200 c and you can use 100 c to buy a coconut. 100c for a beer, etc.

Money is what everyone needs, wants and uses.

So moral of the story. You need money and lots of it. Because like it or not everything you want will cost you.  Either time or money.

Lets talk about time. 

Just like bartering for products you barter and trade you time.

You offer 8 hours a day at your work and in exchange, they will give you say $100. So you have valued your time at $12.50 an hour... Is "literally" once in a lifetime hours worth that for doing something you hate?




Lets work something out
Average life expectancy 75 years X 365 days X 24 hours a day = 657450 hours
1/3 is sleeping 219150 hours

That leaves you 438300 hours

If you work for 8 hours for your life (includes school while your young)
that leaves you only 219150 hours left. (this is calculated at 7 days because the chores and jobs you have to do at home).

Now lets see what are we going to do with this 8 hours.
Well  well first of all what hours will these be. lets say you work 9-5

You get up at 6. So you have 3 hours before work and you go to bed 10pm so you have 5 hours in the evening. 8 hours in the dark or early morning with most shops shut and to dark to do anything.

Lets take off 1 hour for commute to work. 2 x 30 mins

Lets take off 1 hour for showers and getting dressed 2x 30 mins

1 hour for preparing and eating meals'

1 hour for exercise
.
leaves you 4 hours.

That is not 4 hours straight.It is  1 or 2 hours in the morning and 1 or 2 in the evening. So most people will just watch a tv show or relax or spend time with family.
And this does not include school pickups, helping with homework, and the millions of other things we have to do.

So to conclude you need money and you need time to enjoy life. Excesses wont necessarily make you happy. But enough of both will.

The reason I say this is to remind people they are not bad people to want to enjoy their life.

And people are not bad when they have lots of money.

Money DOES buy happiness. Because it buys you time, and it buys your dreams and things you want and need.

You need money to buy shelter water and food heat or cooling. After that everything is basically a want instead of a need.
You want a car so you don't have to walk 10 miles a day.

You are buying time. It may take you 3 hours each way to walk to work but in car it takes you half an hour. You are paying for a car to be free. You can go places, and experience and discover and try new things that are not in walking distance.

You don't need the Internet but you can talk and see people on the other side of the world for free. Have an access to unlimited information and people.

Phones..... .Oh i don't think mobile phones are valued enough. It makes my life so much easier.
It is a note pad, calculator, phone, gps, directory, a game console, diary, book shelf, music player a tv,a business one stop shop. It is endless at what it can do. I can turn on my air con on the way home. I can order food to my door for when I get home. Stay in contact with friends. Can run my business and home life on my phone. And can take my business anywhere in the world. So buying a phone buys me freedom to travel, connecting with people and best of all. It has quickly turned into one of the biggest money making industries in the history of the world. But the best thing about my smartphone,it has satellite navigation. I no longer fight with my Wife about directions.

I look at everything in its value to me.

Ferrari is not a value to me. The price does not offer a great value. It offers me nothing for the price. Speed cameras everywhere, means I cant drive fast anyway. It does not carry any thing I buy. , it does not carry my family. I don't care if people go whoaaaaa a Ferrari. I know just as many people will be going "rich prick". Peoples admiration or jealously of my possessions does not make me happy. I would buy a Ferrari for investment, or if it was cheaper. but the value of what it offers me is not right.

 Strip clubs. 

Men go to strip clubs and if you watch them they pay not for sex but for companionship. A beautiful lady spends time with them. To you paying ladies to like them may seem sad. But it makes them happy. I don't need strips clubs because I don't need a divorce lol. But you should not judge on what makes people happy.  look at the heirachy of needs. That sense of love companionship. Is highly needed. So a am who has lots of money but not many friends and no partner. To him this is money well spent. he has everything else he needs.

One good thing to you may be disgusting to another person.

I love a juicy steak . Yet someone might be a vegan.

You might enjoy running 5 miles a day. While i would rather eat rocks.

And some ladies like sitting their relaxing getting hair done for hours. But for me i get the shaver out and run it over my head. I could not spend 3 hours and hundreds of dollars on a hair cut. But my wife comes back feeling good and looking good. And it makes both us happy. So it is well worth it.

What makes you happy is up to you. Not anyone else. If you want to travel around the world, if you want to dedicate your life to charity, perhaps you want to gamble, you love to collect classic cars, you love to  drink and have sex with prostitutes. It's your money its your time. Do what you want to do.

YOU HAVE ONE LIFE TO LIVE.

So you need money. And remember you are not a bad person. if you need or want a little bit more to make you happy.

Now its time to make money money money money flow into you bank and keep flowing for ever.

We have got our expenses bucket
We have our investment bucket. Like a dam. Holds and builds up money and flows out the excess each month into your expenses bucket.

Now we build a tap to pour money into our wealth bucket and we need to do some plumbing and build a pipeline. We need to add some pipes from different sources to our main line. The more we have the more it will flow.

0 to a million in 1 year playing online poker. part 5 (arrrrrrgh)

This week we are hoping to hit the $200 mark.

So we can move up levels and start accumulating bigger. (Or losing bigger). But we will continue the same strategy. We are also building up a lot of player points. So we have decided to stick to the Plan and play cash games tables. If we want to use the points for tournaments, it is on our own time.

I won't be playing them. But the other guys are itching and have spare time on their hands. As long as it doesn't effect their game I don't care. We risk nothing and stand to gain a lot.

Day 22 $141.00 We actually have gone backward since last week.
Day 23 $144.13 Building back up
Day 24 $158.01 Back over where we started
Day 25 $156.23 Slipped a little
Day 26 S149.84 Slipped a Lot
Day 27 $152.67 Back over where we started
Day 28 $154.23 Small but much need moral booster.

Weekly target $2.90
Weekly actual $154.23
Previous weekly total $149.23
Increase $5.00
Total Per hour $00.02c

$5.00 only $5.00 for 168 hours work. 

Quite Shocked. We did nothing wrong. It was 

just one of those weeks. I won't lie it hurts but it was not a loss. So I can not complain. Just regroup during our weekly meeting and take it out (get $200) in the next few weeks.

LEARN ALL ABOUT POKER A WINNING STRATEGY

0 to a million in 1 year playing online poker. part 4. (TILT)

I feel better this week.

It is going well, but we are all itching to move up the levels. Including myself.

But I have warned the guys to stick to the plan.And we are not moving up until $200.

I think I am the one that wants to move up quicker and it is so hard not to. We are doing well and are ahead of schedule but for some reason it seems impossible to fight the urge to bet higher amounts.

 Day 15 Week started off good. We are feeling more confident with lots of money in the kitty for any bad swings. We can take more risks then the 1st and 2nd weeks, where we had to play real tight.

 Day 16 Have realised we are earning a lot of reward points by playing so much. That means we can buy in into tournaments with the points. For now we agreed to keep playing just tables.

Playing tournaments will mean we play for hours and wont earn any money unless we win a satellite and then win in the next tournament. It means for 1 session we would lose all income from playing tables.  For the risk of winning against 2000 other players in a tournament. We will re-look at it in a few weeks to see how best to use the points.

Day 17. During the game I went into what some people call "TILT".

Tilt is a poker term for a state of mental or emotional confusion or frustration in which a player adopts a less than optimal strategy, usually resulting in the player becoming over-aggressive. This term is closely associated with steam and some consider the terms equivalent, but 'steam' typically carries more anger and intensity.





For example i had a full house. I went all in.. he got one better.










I had a king high flush.  He went all in and i called him. He had an ace high flush.















I got a straight, he had nothing and i went all in and he called me. then two spades in a row come up to give him a flush.










This was in one 4 hour session.
Lucky i have a punching bag in the next room. Oh i smashed it.
And the next shift started and one of my partners calmed me down and just got me to walk away.
So you must learn to control TILT. And once you learn to control tilt you can learn to use it against others and recognise when they are in tilt. And even learn how to put them in tilt.

Day 18 I log in and we were on $101.36. I had to double check I thought "shit we are over a hundred dollars". I did start to play really tight thinking I did not want to fall under the $100 mark and did not play my best. Ended up not much higher at $104.34 but it was still growth.

Day 19 felt a bit more comfortable today not worrying as we were in the $120's and we finished down at $116.

Day 20 Wow the guys did great and I come through I cant remember the exact amount we ended on but i will keep the surprise for tomorrow.

Day 21. $149.23 Everything is going great.

Weekly target $2.20
Weekly actual $149.23
Previous weekly total $77.14
Increase $72.09
Total Per hour $00.42c

 Now i am in two minds.

One says we are over $147 a head of schedule. While the other voice in my head said you have made $50 bucks in 3 weeks and  earn 14 cents an hour. Just questioning the this plan. It seems all good but i make a lot more money from other avenues that i dont have to do anything. I wonder if I want to work an 8 hour day job i could be earning $1000 a week instead of this measly amount.

I will keep cracking along. What can i say i have a plan and i will follow it through. I
 am excited as we get closer to the $200 mark to play higher stakes.
It will still be fairly low stakes.  I have played and beaten  this next level before in my poker days. And actually I prefer the next level as they play a little smarter but more predictable. They don't do as stupid things and they are easy to read.

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Online Financial Training Series Lesson 7 (Retirement Plan WEALTH BUCKET part 2)

There are a few levels of this wealth bucket.

1. Protection BUCKET

If you haven't done your budget do that now.

Have you done that now? Good. What we are trying to figure out is how much you need minimum a year to survive. Not movies not holidays or eating out. Just your rent, food, basic necessity. And figure that total out.
Lets say you are spending 2000 a month. So we times that by 12 months = $24000.

 So you need $24000.

That is $24000 liquid cash. So if you lose your job or get sick you can survive a year  without losing everything. And best of all you get a peace of mind.

So workout that number.

Monthly Expenses X 12 to get year Amount.

Example. $24000




Your First Bucket Will be full when you have (Example $24,000) 1 year of basic needs covered in cash available to you. In either a bank account or in equity in your home.

2.  Security BUCKET

The next stage is exactly the same. What ever your amount in the protection is.  Write down that number again.
So for the example of $24,000 we right down $24,000 again.
The difference this time is.  We want this number return every year. So we want investments earning and bringing in $24,000 a year.
If your protection number was $24,000 this will be $24,000 a year

So we add an investment bucket. This new bucket will be putting our savings and investment bucket. And will flow out into your original bucket (your expenses bucket).

So we have a pool of money, business, royalties, stocks realestate. All these assets will give us dividends, rent interests etc. So we want all these returns from these investments to cover our basic needs.

So we want a number that will give us a  $24,000 a year return.

So to make it easy on us. To find out what amount you need to give us $24,000 Per Annum. An easy way to work this out, would be to times $24000 X 10. or add a zero on the end.

So $24,000 becomes $240,000. What we have done, is found a number that will give us that a return at 10%. If you are confused that is ok.

What we are looking for is to earn $24,000 for the rest of our lives. So the best way to do that with investing, is have a lump sum and earn interest off it. We are assuming a 10% return on any money invested on average. So we are figuring out what number with a 10% return will give us $24,000 and for this amount it will be $240,000 X 10% = $24,000
Another example would be. If your protection amount is $30,000. we just add a zero on to make it $300,000
If your protection amount is $36,500 just add a zero on $365,000
What ever you had in your first bucket just add a zero

So now we draw 2 buckets

Example $240,000 X 10% = $24000

The top bucket has your total amount of investments (our example of $240,000).
The 2nd bucket is receiving a return of $24,000 a year from the investments. So each year, your Protection bucket will be filled up. For the rest of your life.

3. Comfortable Independent. 

This level is trying to afford to keep your current lifestyle.

 Lets say you are on $50,000 a year. It covers all your expenses and you are comfortable. This is what you want to write down.

Add everything in your budget. And put the yearly amount down that you want to live on.
Now if you are earning more then you spend,  and you save a lot. You can lower this amount.

Or if you are behind and really struggling  and you are earning less then you spend, you can lift this amount to what you need.

So we work it out the same as above $50,000 x 10 (or just add a 0) = $500,000



Example $500,000 X 10% = $50,000 a year return.


So now you have $500,000 in your top bucket of investments and the return pouring out is $50,000 a year into your everyday bucket, every year for the rest of your life.

4. Lifestyle BUCKET

So this one it is time to have little fun and re adjust your budget.

We don't want to just "get by" in retirement. We will want a few toys. So in your budget tweek it a little. We just don't want to live " comfortable" we want to enjoy ourselves.

Add a holiday a year in there. Say $8,000 a year. You want a boat $20,000. Spoil the grand kids, eating out a few times a week. You can add what ever you want. Now don't forget we are not paying cash for things. If you Buy a new car for $30,000. You work out what that will cost you. You will use a line of credit or a loan. Which you pay yearly. Just put down  10% of the total a year. To make it easy. So it will cost you about $3000 a year to pay off your car. $1500 interest $1500 principle.You can get exact numbers anywhere.

Added to budget
Holiday ($8000) a year
Boat $20,000 ($2000) a year
Eating out extra (10,000) a year
Paying kids education fees $10,000) a year
Few extras ($10,000) a year
Total $40,000

Last budget $50,000 + $40,000


$90,000 X 10 = $900,000



Example $900,000 X 10% $90,000 a year return.
This one will be fun for you. Just go onto you budget. And add your items. Time to find out and plan for retirement. Once we know the lifestyle we want. We can start preparing for it.

5. Absolute Dream Bucket

Go crazy all your dreams.

Donate to my Charity $10,000
Buy houses in 2 different countries
$600,000 ($60,000) a year
Lamborghini $200,000  ($20,000) a year
Party's $20,000 a year

Previous amount $90,000
New amount $110,000
$90,000 + $110,000
= $200,000

$200,000 x 10 = $2,000,000

$2,000,000 x 10% = $200,000 a year


This is the life style you always wanted. How about a castle. They are fairly cheap right now. How about Funding a charity? Ferrari? I seen an island for $2.2 million so repayments would be $220,000 a year.(At paying it off pretty quicky. And it comes with a charter business that net returns (after expenses) $190,000 a year. So it will cost you $30,000 a year for an Island.
How about you want to cure cancer. And you need $200,000 for research. This Dream Bucket amount for some people can be in the $10s of Millions. Bust for most people it will be under $10,000,000. Some will be happy filling up there independent bucket.


















I personally don't have a flashy car.

I have a nice Ute. And SUV for the family.

I needed more seats and room for toys and bags and kids. And I use my Ute all the time.

A two seater Ferrari does not entice me at all. Oh they are fun to drive. But I would just lose my licence anyway.

Also i would worry about dints and spilling my coffee. There is also really not any room.

Boats are good. But they do eat your money. But i love it. You can buy designer clothes. I find  you spend less on clothes in retirement.
You don't need suits for work. Just need shorts jeans and a few nice shirts. And one nice Suit.

So put everything you want. But i'm sure you will find you will not need it to be happy. It will for a while though ;). So aim high for your dreams and enjoy it. And as you get older you may not want to fly to Ibiza every weekend for a party, but you may want to pay the kids mortgage off . Perhaps the money will give you precious time. Instead of working all day everyday for 60 years. You can spend that time with family, following your dreams, writing, painting, or doing something you love.

And the extra time you get from not getting ready for work, driving to work, being at work, will make you happier then ever. But you do want some money to make sure you can go out and not just sit around until you die. My money is on everyone setting up their buckets will have an early, long and fulfilling retirement free from stress and lack of funds. Will be able to travel and go out.

Buckets


Absolute

$2000,000

Freedom

$900,000

Independence

$500000

Security

$240000

Protection

$24000

So go on. Draw a bucket with holes in there and start from there.


Next week we will show you how to fill these buckets up.

We will show you what your bucket look like.  And what it will look like.
By building pipelines to you tap. And no more pouring money in each week. We will put in the effort to build long term pipelines that will pay of for ever.

Shovel for 60 years or build for a few years, and reap the benefits for perpetuity?

0 to a million in 1 year playing online poker. part 3.

Well this week we are kicking ass taking no prisoners.

Operation make money in poker is well in hand.

We are all excited and i can feel us all rushing to make money.  If we continue this way, we will start making mistakes.
So i reminded the guys the strategy. And if anyone breaks them "they are out". No exceptions.
There was one incident where 1 of the guys tried to chase a loss and bet more then he should. First and final warning.

It is strange, for some reason $1000,000 in 1 year seems to slow.

Day 8 Doing good, kicking ass. We are meant to be up to $1.30 by now, but finished over $50.00

Day 9 The $50 must of been a psychological point as we have fallen back to $44

Day 10 Never mind $61.54

Day 11 I am fighting the urge to play more than my 8 hours; it goes so quick. But i have so much more on my plate and other businesses to create and run. But i don't want fatigue to get the best of us.

Day 12 Whooping ass. $68.00 but i am finding it hard at this level.  I cant read them (other players). They make so many stupid plays and it pays off for them. I just have to remember. Long term our strategy should hold up. Not playing stupid

Day 13 I am really excited that we will manage this hair brained scheme. I just have to keep us on the path. And remember, later over 30% return is going to be tough in the later months when we are looking at trying to make $10 to -50 grand a week.

 Day 14 I am wondering what is going to happen at the next stage. If we are going to get our ass handed to us. or we will continue along this path. And when we get to the big dollars with higher class competition professionals playing. How we will go.

Weekly target $1.70
Weekly actual $77.14
Previous weekly total $15.45
Increase $61.69
Total Per hour $00.36c

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 Working 7 days a week for 12c an hour each. sounds crazy but i don't mind. A lot of jobs will cost you money for training and studying university and you will be in debt in thousands of dollars. Well that's what i tell myself.
Either way i am having a blast.
Oh and the tournament i went in was a bust we did not win anything.

PART 2 CLICK HERE

PART 4 CLICK HERE

Online Financial Training Series Lesson 6 (Retirement Plan WEALTH BUCKET )

Now lets start our journey to retirement.

Two simple questions to start with. But two very important ones.

First of all, lets start with the obvious questions.

How much do I need to retire?

How long until I retire?

Then we can work out our plan.


Now it will get confusing and tricky later on, so lets keep it simple.

First of all we need to figure out how much you need to retire.

Then we will make a plan from then to see how long it will take you to retire on that income.

So how much do we need?

We will get to that soon but first thing is first. I need to explain and show you something.  
It will make you think. It will guide you on your way and make your Journey a lot clearer.

I was taught this simple plan a long time ago. It is called the wealth bucket.

Obviously a metaphorical wealth bucket.
So what is this wealth bucket?

Picture a Bucket. We will pouring water in the bucket and start filling it with water. Once it is full, we will have enough to retire. That simple.
We start Monday morning and pour water in for 8 hours, we are looking good and we will retire in no time.







BUT......

We wake up the next morning and the water has all leaked out the bottom . Why? Because it has holes in it.  So we have to do 8 hours the next day. The same thing happens. And again and again.

So the water going out the holes, is going at the same speed as the water going in to the bucket. So it  never fills up. And you fear you have to do this for ever.







Well this is the same as your budget.

Your wage or salary is the water going in, and the holes in the bucket your out going expenses.

So you are constantly filling up the bucket and it keeps emptying. We will do that every day for our entire lives
.
UNLESS. we have a plan to get out of it.. That's where I come in. Wink wink

So..... To retire we need two things.

One. To fill that bucket up.

Two. To keep it filled up long enough that the water does not leak out before we die.

So how do we go about that? A few ways.
What could we do?

First of all we need to fill that bucket up. Then we can work on keeping it filled up, when we cant fill it up our selves any more.

1. Work more. 

If we work an extra 2 hours a day (overtime) we are slowly adding more water than going out. So we are pouring more water in so eventually the bucket will get full.
WARNING!!!!!! Don't add extra holes because now you are getting more water you think can add a few luxuries.

2. PLUG THE HOLES.

So you have cable tv $100 a month. But you can get net flix for $10 a month,
(You could make that leak smaller). You cut out eating at fancy restaurants a little., (Another hole made smaller). You party a little to hard on weekends, You quit drinking. (A hole plugged),you upgrade your iphone every few months. You now buy every second one. (Another hole made smaller). Smoking costing you (plug that hole)
All these little changes could stop the flow of money pouring out your bucket. If you can slow the leak, or plug some holes. You can stop the flow pouring out your bucket so fast. You may now actually start building up the level in your bucket.

3. Hire someone to fill your bucket. 

If you start a business you can get other people to make your money for you and you take a cut so they pour in the bucket for you. Normally it is a smaller amount. If you can get a few people working for you they can fill up your bucket pretty quick.

4. Turn on a tap.

Simple yet effective. Imagine not having to shovel water into your bucket any more and just turn on a tap. Well that is what business and investing is.

At first the tap will just be dripping and not making much difference. But soon it will be like a waterfall and overflow your bucket till you make will have to get a bigger bucket. And
be earning more then you could ever spend.







THE WEALTH BUCKET

So lets start.
First Step is... YOUR BUDGET
If you haven't done your budget yet, do that now.
Yes do your Budget. We need to Find out What is going in your Bucket, and what is going out.

Second Step is Plug your holes. Go through and see where you can cut expenses

So why not subscribe or join me next blog? And I have a continuation of this bucket. And what to do next. Trust me It will set you up for life.

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Wall Street math genious 

New system 

Learn to beat the house just like the mit students did in BLACKJACK 21!

0 to a million in 1 year playing online poker. part 2.

If you remember My goal was to make $1000,000 on online poker.
We have had a great start week.
First off we are starting from nothing so we have only 1 way to make money.
That is free rolls. A free roll is you get a game for free and  you can win cash prizes.
And they are limited.
Here goes.


Day 1 Nothing
Day 2 Nothing, still honing skills
Day 3 Still nothing but these free rolls have over 2000 people in it.
Day 4 Eureka I have won $2.00 on a free roll.

With the winnings

 I spent $1.00 playing a 1 dollar satellite tournament. Which put me into a tournament that could potentially win me a Ticket to a Tournament that has a first place is $9000 but i'm hoping to finish "in the money" win around $5.00 or so.
I did get a ticket there was 6 players and I won. And the Tournament for the $9000 is Next week.

With my 2nd dollar i want to play cash tables . Where I will have to play very tight. as I cant go all in, I cant take chances. Minimum buy in is .70c so if I lose I wont be able to play again until i win another free roll.
Day 5 The other guys did well And have increased the $1.00 to $4.80
Day 6. Finished the day at $9.00
Day 7 We are just playing tight 1c 2c games and this bit is scary as we want to get to a level where we only risk 1% of our bank roll. Now that would be 9c. So we have to use a dollar at a time. We have been lucky so far. But We have cleared the week at $15.45

We are sticking to our same strategy until we hit $200 where the buyin for the 5c games are $2.00. And we will only risk $2.00 (1% of our bank roll) a game.

For the record.
$15.45 over 168 hours (7 days) works out at about 9c an hour.
or 3c an hour when split 3 ways. Don't quit your day job to quick before you try this.

 So i will report back in 1 week with my update.

PART 1 Click here

PART 3 Click here

Online Financial Training Series Lesson 5 (Stop reinventing the wheel)

Stop reinventing the wheel.

Every week I get asked questions about investing. 
And every week I deal with people have spent years trying to develop their own systems. 

And I have to explain to them.

 "Great? I like what you have done. But its called (insert here). Its already been done. I'm sorry to tell everyone but every single system that you come up with, is already there. I am glad they tried something and see what they are trying to do. I then show them other systems similar and all the bugs worked out and the pro's and cons of the system. You don't have to spend years trying to figure it out for yourself.

Now you may be the exception and come up with a brilliant idea. But so what?

My mum makes the greatest hamburgers in the world. Everyone tells her to open a shop they need to be shared with the world. She has no business skills she doesn't want to spend all her life doing paper work, renting premises and hiring staff. She cant work all the hours and she does not want to make hamburgers all day, everyday. 

Now McDonalds they really make the worst hamburgers i have ever tasted in the world. They have a basic system that can be easily replicated.


They really know how to market their brand and image.

So The question was asked “Can you personally make a better hamburger then McDonald’s?”

So far 100% of the people I have talked with have talked with about their new idea have said “yes”. They can all prepare, cook, and serve a better quality hamburger then McDonald’s.

At this point , I ask them the next question: “Can you personally build a better business system than McDonald’s?
 
Now alot of people have bragged and said they came up with the idea for Facebook.


Yeah I had that thought years ago. I thought. Wouldn't it be cool to have a site where our group of friends had their own page, Now we all left school and moved away where we can catch up and tell l everyone what we are doing. Or where all our family can connect to mum dad grandma etc. Or a bunch of University students want to hang out online talk about gossip and get discuss todays lecture. Im sure a lot of people had one of these thoughts.
But can any of you come up with a better algorithm website skills to match Mark Zuckerberg?

Now colonel sanders Kentucky fried Chicken. His Restaurant closed down when he was 65 And had to start collecting welfare payments. Then took that welfare check and started franchising. This tells you 2 things not to put all your eggs into 1 basket and the franchising model worked better for this for the restaurant owners. And now people make a million a year buying a KFC or Mcdonalds franchise. Not trying to develop recipes start in an over saturated market. 
 
So if you invent something you could be working for free or less then minimum wage till it pays off if at all.
  Time is money. If it is already out there just pay some money a few bucks to have it all set up for you.

It may save you years of lost revenue. 

                                     Mark Anastasi Facebook Millionaire System

Homestudy Dvd That Reveals The Step-by-step System Used By Mark Anastasi To Make Millions On Dollars On Facebook.

0 to a million in 1 year playing online poker. part 1.

0 to 1 million dollars

I have decided to make 1,000,000 by playing online poker.

Well thats the easy part out of the way, now for the hard part. Here is my plan.

I have played online poker for a few years for fun. Now I want to get serious.
Time to add it to my list of income streams. It will be a Joint venture with  two other people. We will all be playing 8 hours a day each, with strict guidelines. So we will be playing 24 hours a day.

I started an account with no money and am playing free rolls. (cost no money to play but you win cash).

I will play them till I win my first dollar. Then i will start playing cash games and also satellite(games for free, if won give you free entry into big money tournaments.)

Just to make it harder I thought I would do it in 1 year.

With quick calculations I have to get 30.5% a week over 52 weeks to make my $1,000,000

Here is my weekly schedule I need to get.

$1.00 Start

$ 1.3

$ 1.7

$ 2.2

$ 2.9

$ 3.8

$ 5.0

$ 6.5

$ 8.4

$ 11.0

$ 14.4 Week 10

$ 18.8

$ 24.5

$ 32.0

$ 41.7

$ 54.4

$ 71.0

$ 92.7

$ 121.0

$ 157.9

$ 206.0 Week 20

$ 268.8

$ 350.8

$ 457.8

$ 597.5

$ 779.7

$ 1,017.5

$ 1,327.8

$ 1,732.8

$ 2,261.3

$ 2,951.0 Week 30

$ 3,851.1

$ 5,025.7

$ 6,558.5

$ 8,558.9

$ 11,169.4

$ 14,576.0

$ 19,021.7

$ 24,823.3

$ 32,394.5

$ 42,274.8 Week 40

$ 55,168.6

$ 71,995.0

$ 93,953.5

$ 122,609.3

$ 160,005.1

$ 208,806.6

$ 272,492.7

$ 355,602.9

$ 464,061.8

$ 605,600.7 Week 50

$ 790,308.9
$ 1,031,353.1 Finish

See our First week Playing here

After a goal of retiring in 5 years. I come back to this blog. I am back financially free. What i have learnt . Through successes and mistakes.

It has been a while since my last post. Just under 5 years.
I left to pursue, and 100% concentrate on retiring in 5 years.
What have I been doing?
1.
I have been working 15 hour days.
2.
I Have read 1 book a month.
3.
I have developed an income source a month each giving me an income that has now surpassed my Living expenses. I actually did that a while ago but now I am completely free.
I wanted to be fully free before I preached and taught others. I wanted to make sure I ironed out all the mistakes and learnt from them.

I would like to say. This (picture of Walter white badass) is what I did when I realised I now no longer have to work.  Just being cool and going "I won. lets Move on to stage two".

When I realised I never have to work again.

I broke down and cried. You will never understand what it feels like until you have done it.

A relief just sweeps over you. And all the stresses, anxiety, the pressure all gets released in one hit.
You either scream with joy, like you won the lotto or you just cry.
I was the latter. I have a sick child a family to support. And not long ago if i lost my job (being the sole bread winner) then we would lose everything. The burdens and stress, of worrying about my family's needs.
Now knowing that if  I die tomorrow my children and grand children will be taken care of for life.

For me retired means financial freedom. It means I have more money coming in then money going out.

Retirement does not mean what it used to. I am not getting a gold watch and going fishing. But, I do not have to work any more. That is what retirement means. you can do what ever you want.
I have realised the formula for wealth. By talking to those who have done it before me, and through self discovery.

I am not retired. I am a CEO of my business. And I am not finished yet.
I could walk away if I want, but I am not ready yet. Making money makes me happy. Showing others how to do the same makes me happy.

Perhaps that is the next lesson I must learn. To say enough is enough. But I still don't think I am there. I made a goal to be a billionaire and I have a few steps to go. I am not sure I will see it in my life time. But I will get close depending how long I live. I still have more ventures, businesses and money and wealth creation ideas to do.

Over the next few blogs i will explain how to move from doing it all to being able to free up time to start a new venture. How you can do 100 businesses at once.

We will continue the financial training I started
I will explain all the things that have worked and not worked
I will delve in what you should invest in for the long term and what you should invest in for income now.

To donate to this blog.
I am doing this in good faith and offering this for free. To teach and to guide.
But this has two dilemmas.
No.1
You can not be committed to something if you do not have time or money invested in it.
For example if you pay for something you will work harder to commit to the goal.
You will stay on track. If you are not committed then you can easily quit.
So Make a donation to the tip jar. What ever you feel is a high enough number.
This is something I learnt.

If you commit. You will read everything more thoroughly. You have to be invested  in your education. Drop out rate for free online seminars is more than 99%.
2.
Pay for what you use. Lots of people work really hard on their projects.
People will pay $6.00 for a cup of coffee. But find it hard to pay for valuable information. For years, the only ones willing to pay for information were spies.

With the abundance of information out there. The only one making money are people who decide to make you pay for it before you see it. Because we get a sense of if its freely available then its less valuable. And ifs free and works so well well "why isn't everyone doing it".
Well let me tell you, the best information is just under our noses. It is right there for free but we choose to ignore it because we don't know what we are looking for. And what to do with it.
For example. There is a guy at my gym, he is poor, he barely works. But is huge and everyone asks his advice, he knows EVERYTHING  there is to know about working out. He spends most of his workout helping others and conversing. He offers this for free. He was building a following. No one asks the "professional trainers" they all asked this guy. So the trainers who work there, earn their money and this guy does the work.
What could he of done to transfer from a huge following and poor to a success?
Well I was one who took his advice, and he found out what i did and we both shared valuable information to to help each other out. And we made a partnership. I will explain more about this in another blog.

.
I like the pay as you go society. If I watch a movie at the cinema. I have paid for it no matter what. Even it its horrible.
We should pay what we think it deserves.

If i really want to see a movie i will pay for it. If i wouldn't mind seeing it. I have to make the decision between perhaps borrowing it for free or paying for it. There is no tier system. I don't see why some movies not doing so well shouldn't be 50% off like other products.
For example of  coffee. If the person behind the counter is rude, I paid for customer service.I would pay less if the coffee was cold and tasted awful. I would either want a refund or to pay less.
But if the coffee was brewed to perfection the staff were attentive and bought a smile to my face. I would like to also leave a tip.

Being forced to pay for things means company's and others have the power over you..  If someone gave me enjoyment I will click on their ad to donate. This is what big corporations need to learn.
Donate or click on adds for people who donate their spare, free time for others to learn.
You can click on some of the advertising or buy products through their links. It wont cost you anything but it will keep the blog going.

Ads are going to be there if you like it or not. They are annoyance and intrusive. They pop up in your way and you just close them. Well if you click on them it will cost that company money. You don't have to buy. That company will start to spend vast amounts on advertising. And little bloggers and you tubers will get a supplement income to help their families.

I now have just come back and I am earning 11c a month on  this blog.  If you would like to hear my journey of self discovery why not click on an advertisement. I think I only earn a maximum of 2 cents a click. So if you want to hear my 2c worth have a click make advertisers pay to keep this blog going. Wont cost you a cent.

Also start making advertisers pay. When you come across a good blog or you tube video. Click on the add Make the advertiser pay for being in that space. Don't let them just sit there for free. Start spreading the wealth from an elite few, to everyone.