What Would You Do With A Windfall

[aucu 3]

If you made a large amount of $ would you start playing higher than you normally do?Say if it was enough to buy a new house and car with more than enough to start an education fund for your kids as well. After covering all of these basics would you try taking a shot at the higher limits or just let your game and BR take you to it's natural level by it self?

[BudBundy 0]

How much have you won?

[Abbaddabba 0]

I think it's almost always a bad idea to move up for those reasons.If someone is capable of winning at a level, they should be able to accumulate the money necessary to safely play at that level in a relatively short period of time.Live play would be an exception because of how long it takes to make progress, and how bad players can be at some of the bigger games. But online you generally dont find any super good games at the 50/100 level and above (which is what i assume you're talking about), simply because if one bad player sits, several exceptionally good players will swarm the table until he/she busts.

[mikeysong 0]

i'd move up one limit and see if i can beat that. I'd be more willing to take shots at higher limit games when I see fish, otherwise I'd just save a lot of it and buy some fun stuff

[homnig 0]

I had a pretty big windfall over a week once. I just used the money on other stuff and played the same games. Basically I did what Abba allready said. I wouldn't move up if I ever won 100k+ in some donkament either.

[iggymcfly 0]

Pay off my debts, pay off my car, and then move back to the limits I was playing a month ago. Maybe pay off my student loans too just to feel a little more secure.

[dreamcrusher28 0]

Pay off my debts, pay off my car, then move back to TWICE limits I was playing a month ago. Maybe pay off my student loans too just to feel a little more secure.Drive to Vegas and hit the booze and pit games hard!!!!

Sorry, I couldn't resist. :icon_biggrin:My first FYP.

[donk4life 34]

Sorry, I couldn't resist. :icon_biggrin:My first FYP.

I just can't take a man with Ned Flanders as his avatar seriously...Hidilly Ho Neighboreenos!

[CobaltBlue 662]

I've got a potential windfall in my future...but I don't think I'd ever start playing limits that could potentially cause me to go negative in lifetime earnings. I'm proud of the fact that I've built all my profits (~$70k at this point) from a $25 deposit.

[NocturnalRob 0]

I've got a potential windfall in my future...but I don't think I'd ever start playing limits that could potentially cause me to go negative in lifetime earnings. I'm proud of the fact that I've built all my profits (~$70k at this point) from a $25 deposit.

i heart brag posts.then again, if i'd done that, i'd brag about it too...

[iggymcfly 0]

Sorry, I couldn't resist. :icon_biggrin:My first FYP.

LOL, nh. I really think I've learned my lesson this time though. I've crashed about as hard as I could and I don't have any desire to ever play pit games again. The drunken poker thing is something I do about every 4 months or so, so it's harder to say that's gone for good, but if I get my net worth back to even $20K, I really don't think I'll ever go broke again.

[MorphyATL 0]

Hookers and BlowSeriously though, I wouldonly move up if you were consistently winning at the lower level and you had enough bankroll to make your preferred number of big blind bets at the higher level.

[Tailspin 0]

hot tub

[kidpkrJR 0]

Hookers and BlowSeriously though, I wouldonly move up if you were consistently winning at the lower level and you had enough bankroll to make your preferred number of big blind bets at the higher level.

your avatar is annoying, she is just twitching

hot tub

your avatar is awesome- I wouldn't move up in limits either, I would just continue until I felt I was ready to take the next step

[ChrisRichey 1]

I would prob move up, and play $30-50 mtts and the $22 180s.

[aucu 3]

How much have you won?

It's a happy happy timeNo moving up in limits for me though, Check this chart out,http://www.stockwatch.com/swnet/utilit/uti...napshot=default

[No_Neck 0]

It's a happy happy timeNo moving up in limits for me though, Check this chart out,http://www.stockwatch.com/swnet/utilit/uti...napshot=default

Is that what you do in Honduras?

[mikeysong 0]

i hope to win a tourney this weekend n buy a car

[aucu 3]

Is that what you do in Honduras?

I'm in the mining biz and play a few of the stocks, just never had one go up 10x without selling out. That was by far my largest holding.

[SpiderGuard 0]

I'd stick at my crappy low limits, but take a stab at some major tournaments once in a while. Play in the WSOP, maybe a WPT event in a tropical location, things like that.If I were good enough to play at higher limits, I would be playing there right now. I'm not so I don't want to do that as a rule. But to play in the FTOPS or big live tourneys would be fun.

[mikeysong 0]

I didn't win a tournament and bought a car.........I'd instapay half the car and move up 1 limit.

[MychCumstien 0]

I think it's almost always a bad idea to move up for those reasons.If someone is capable of winning at a level, they should be able to accumulate the money necessary to safely play at that level in a relatively short period of time.Live play would be an exception because of how long it takes to make progress, and how bad players can be at some of the bigger games. But online you generally dont find any super good games at the 50/100 level and above (which is what i assume you're talking about), simply because if one bad player sits, several exceptionally good players will swarm the table until he/she busts.

I agree completely with this. I was fortunate enough to garner a nice little winfall for myself this past FTOPS, and basically cashed it out to pay bills/ put some aside for future use.Even with extra cash, I really didn't feel comfortable moving up from 2/4 NL. I took a stab one day at 5/10, and just felt out of my comfort zone. My advice to anyone would be to "earn" your way up the cash game ladder. That's my intent, I'm still holed up at 2/4 NL.tournies are a different story. I consider myself a much better tournament player than cash game player anyway, playing mostly SNG's, so in that respect I did move up a bit, previously hanging out at the $30 and $50 levels, now I play mostly $50-$200. It's obviously going to be different for everyone, but I know for myself, I won't play well if I'm not comfortable at the level of play, i.e. buy-in. Even with the cash to play with, I wouldn't feel comfortable playing 5/10 NL on a regular basis, or comfortable buying in to a $500 plus tournament without a satellite.To answer the OP, if I'm ever fortunate enough to win that big again, I'm thinking nice down payment on a home, or maybe invest in some mutual funds. I'm clueless at stocks, so some funds might be the way to go for me

[jmbreslin 0]

I'm in the mining biz and play a few of the stocks, just never had one go up 10x without selling out. That was by far my largest holding.

Umm, got any tips for the rest of us?Seriously, though, if you come into money and have a choice between starting a college fund for your kids or playing poker for higher stakes, you may have a serious problem with priorities if you choose the latter. Isn't the whole point of making money, whether in poker or in the stock market, to improve your lifestyle and support your family? It seems kind of silly if you hit a nice windfall and just pump it all back into poker. If you weren't playing poker, would you be thinking about reinvesting all the money back into the market? I suspect you would probably cash out a chunk and reinvest some of it, so why would you consider using it all to fuel your poker habit?

[ukwildcat09 0]

Pay off all of my debt. Then put about 80% into an IRA. When I retired, I would be a rich, rich man.

[aucu 3]

Umm, got any tips for the rest of us?Seriously, though, if you come into money and have a choice between starting a college fund for your kids or playing poker for higher stakes, you may have a serious problem with priorities if you choose the latter. Isn't the whole point of making money, whether in poker or in the stock market, to improve your lifestyle and support your family? It seems kind of silly if you hit a nice windfall and just pump it all back into poker. If you weren't playing poker, would you be thinking about reinvesting all the money back into the market? I suspect you would probably cash out a chunk and reinvest some of it, so why would you consider using it all to fuel your poker habit?

No brainer, I was talking about what to do with the extra $$$ after taking care of the life roll, anyhow I only moved up one limit live from 1-2NL to 2-5NL and made no change online. The live game has been good so far.