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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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. 

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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