Experiences of a poker player!
To stake everything on one card is short-sighted in every way, so unless you are an absolute expert in a field, I advise everyone to spread their income or investment. In the meantime, there are many possibilities that can be done easily at home. It has its advantages to start with online poker first, because you do not have to make huge investments. At first you only need a computer with monitor and tracking software. That is to get for less than 1000 bugs and most of the time you can only start with the software, since computer and monitor already exist.
Here are some ways to invest beyond online poker and build your fortune further. I also go into various jobs on the Internet, which you can run by the way and completely on your own responsibility. In addition, we will make you aware of financial mistakes that commit many people, but throw you back in asset accumulation for miles. Look closely at this digression, because this is the foundation for a great fortune.
ETFs:
Of course, it doesn't make sense, if you can hardly make a living, to start investing. But as soon as you can put some money aside, I would advise you to start making provisions privately for old age or just to build up a passive income. In addition ETFs are currently a top solution, which have a manageable risk and can be very cheaply saved. Here you can partially start with a saving rate of 50 € per month and we would advise you to do that. Most importantly, you deposit the money you want to put aside on your ETF at the beginning of the month. It can be that at the end of money there will be a lozt of month left:). Especially if you have once again made uncertain the online stores with your credit card. There are even a number of free (no fees) saving plans. It's very easy to start with and you do not need any expert knowledge. It's enough if you inform yourself on the Internet and you find the cheapest provider for deposit and ETF costs. ETFs are mainly driven by direct banks, as the typical house bank tends to sell products that allow them to earn more. Therefore, even average consumers do not tend to ETFs, because they, as in many other areas of their lifes, are misinformed, or symply trust the nice bank advisor (better name is bank vendors !!!).
I only suggest you to look for alternatives to generate residual income. Of course you have to deal with the topic.
Tipp:
The problem is usually that people are not actively taking care of their finances. It will spend months figuring out all about the new car or the flat screen TV. Here, of course, every little thing is researched, but when it comes to their own finances, half an hour advice from the bank or insurance salesman and they go home extremely happy and satisfied with a few new contracts, and maybe even their pension planning. They did not really understand anything, but the nice gentleman was so friendly and coffee was also available. Everything just has to be fine. But then you can be sure that the cup of coffee and the nice words of the seller were the only good things for you. See the advice from the insurer or bank consultant as a sales pitch, as you would with a car salesman. Would you also blind sign anything when buying a car just because there were nice words and cookies?
Assuming that you are 20 years old and 45 years are paying € 300€ into these ETFs, with a return of at least 6%, you have a fortune to behold at the age of 65. Depending on how high your return is, this can lead to very high sums due to the compounding interest effect, which will allow you to live a carefree life in old age. Here sums of more than 500000 € would be easy to reach. At 8% return, it would even be over 1 million euros.
Just play around with the ETF saving plan calculators you can find everywhere on the internet and see what's possible and useful for you.
I can only recommend you to actively take care of your finances! If you do not want to be among those who look enviously at the prosperity of their financially literate friends in 20 years time, you should now take action. Only then the age is acceptable and the magic words are more island, beach, sun, sea, cocktails and pretty women (men), as a one room apartment, canned beer, bad weather, holidays in the tavern around the corner and the best friend is your own Dog.
I would be very happy to read your comments to that article and I'll promise the next parts will be more hardcore and you will learn a lot more about financial possibillities all people have, not only poker players!
Next time I will tell you s.th about P2P and real estate!
To read more about speciall poker stuff, you can visit my website! It's german, but I am sure you can use the browser addon of the translater to understand everything:).