Managing My Accounts In Banking And Investing Online

I'm 18 years old. Yes I know, young and foolish and filled with hope for life just waiting to get his spirits crushed. And so, before stands me one option. Accept money from the parents i most deeply dislike, attend a state university, get some degree in financing, making my 60-80k over a career, maybe one day 100k?!?!, hope america's infrastructure doesn' collapse one day, and die on the inside, shitting on every ideal of freedom and staying true to your dreams i ever held. Or... I become a poker pro. Now just stay with me here. An online professional poker player might make anywhere from 15k (you gotta be god awful) to 100k a year (you gotta be really good). Its quiet even possible I hit it lucky and I win a few lucrative tournaments here and there, cashing in some extra few hundred grand. On average, lets say an online poker pro, as myself, will make 50k a year... (Then again, I say I'm going to be making hundreds of thousands, but thats just arrogance speaking =P)

At this point, financial analyst for the win. Poker earnings are still taxed as an income tax, the job would seem far to volatile and unreliable (no health benefeits and such), and quiet honestly I come out looking like a fool unless I am the new Phil Ivey of poker. Stage two... I move to buenos aires. Buenos Aires, Argentina, is deemed "the paris of south america". With warm weather, great nice people, and a happy atmosphere, the place seems great from everything I ever read. Not once have I read anything bad about the place. On top of that, due to inflation, on 20k u.s. A year, I'd be living like a prince there (Somewhat). For example, on average a person there makes 1500 pesos a month, 18000 a year. The exchange rate is 1 us dollar to 3.5 pesos. Thus, 20k is 70k pesos. A top notch lawyer makes about 6k a month, or about the equivelant to my 20k U.S. (which i also plan to switch into euros, for the dollars quickly losing value). Anyways, with due practice and diligence, even if I hit the lowest of cielings in poker, I can live happily in argentina.

Part three. As a U.S. citizen, living abroad you still follow a U.S. income tax. At first I was infuriated by this, until I learned more... if you make under 95k a year though, your exempt from the income tax. :O. Thus, all my poker winnings now become tax free, and seeing as Argentina has much bigger problems to tackle, I don't see them making online gambling a policy of theres anytime soon. But thats the beautty of online poker! If things get heated in Buenos aires, I pick up my things and move somewhere else. All I need is an internet connection and a bank account and whalla! I am employed no matter where I go :).

Part four. I get to argentina, I live happy, and say I'm not a retarted monkey at poker. I make say 50k a year? That leaves 30k a year extra. Those 30k, I invest in mutual fund, (stock and money), which can overtime lead to a year roi of say 5-10%. Say I get better at investing, manage to get my portofolio to a steady RoI of 8%, and continually pump in 30-50k of savings each year (hell, win a tournament or two, and I could throw in something like 100k in a given year.) In about 20 years, at that pace, my investment portfolio would be worth millions. Forty years? ITs not too hard to imagine anything in the range of 10-30 million.

Of course, this is all cirumstantial! I can get shot in the head by a maniac who randomly let out a gun shot in the direction of my window as soon as
I finished writing this. But what do you think? Is it too insane? I mean the average american savings per year is 400 bux, and on average the debt is something like 150k? Even as a financial analyst, pressured to live up to "Societal standards" I don't see myself investing more than 6-10k a year, and thats without the strain of a family or wife. So, PUT IN YOUR INPUT GUYS!

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2010-01-18 14:16:58 by worldboy90

My Investing Tool is an Online Trading Journal and Money Management Tool. This tutorial shows you how to register and what must be setup properly ...