So you wanna be a gambler!

[Sputnik]

So you wanna be a gambler, well guess what, it sucks.

I now reach a level where i can take one year off from work and play full time.
Having the money to give my self a full salary each month for one year and full bankroll for gambling.

There is good and bad news wish make me think twice about it.

I am 46 and want my pension when i quit working at 65.
So my company i work for pay a fee each month to the state so i can get full pension when i quit work.
Live a life as old with comfort and no worry about income.
Will get around 1500 Euro in pension each month.

Maybe i live from 46 to 65 to 95.
Between 65 and 95 you have 30 years.

Now if i make a carrier as gambler i will lose a big part of my pension, maybe around 500 Euro each month for 30 years, that would be 180.000 Euro or almost 2 million.

So if i am going pro i not only need to win 1500 Euro each month to pay bills and live within comfort zone.
I also need to win and save 2 million to have a nice pension.

Did this ever strike your mind, ever?
You might say you still can play when you are 80 years old, but you know nothing about health.

The state in my country have a minimum pension at 700 Euro plus 30% tax fee, so you left with 500 Euro.
So with a reality check you could get away with 1 million in savings as full time gambler.

Cheers

[kav]

I personally do not plan to live till 95 :-)

Being a pro roulette player is already very hard, for too many different reasons, without thinking about pension.

[Rinad]

  well Kav, you never know, you could beat the streak and live til you are 100 !! lol.
uncertainty is what we all learned here on this forum.

once think for sure, if we cannot make it as a part time pro roulette player, there is no way we are going to make it as a full time job.
I had a interesting conversation years ago with a poker player who was extremely good.
I never saw him play often at all but he always won when i play against him. (maybe I was just the bad one).
he said, you know the way I really play is the following.

forget the casinos, going there every week or once a month.
I like to take 10k with me once a year to vegas. i either win or lose. but because i prep myself so much for that one time event i feel like i always bring my A-GAME. NOTHING LESS.
i always thought about that idea. because you play less, you are like going to the olympics and can come to the game fully prepare and come back a big winner.
just a thought,

Rinad

[Bayes]

If you're confident enough you could aim to build up a fund in the years before retirement and then invest in some safe plan which gives you a passive income (property, stocks, etc). You don't need to invest millions to get a comfortable monthly return. 300,000 euros should be enough.

Or you could take a year off to see how it goes, then if it doesn't work out you can resume work and carry on paying into the pension, or is that not possible?

[Reyth]

Grats on having such a strong pension.  Hopefully your gambling skills are there to fall back on, in case it falls out before you are able to recieve it!