What’s your income profile presently?
Do you consider yourself struggling or making more money than you’d ever need?
(1 = Feel like I’m barely getting by….5 = Feel like I’m printing money)
Answer: 4
What’s your income growth potential?
Are you highly upwardly mobile or are you likely peaked out in your income already?
(1 = I’m already retired…5 = I have clear, huge upside)
Answer: 3
How far along are you in your career?
Do you have fifty years left to work still or are you already retired?
(1 = Already Retired…5 = Fifty Years or More)
Answer: 3
What’s your inheritance potential?
Will you need to send your kids to college, support your parents (or other family) or do you come from a lot of money?
(1 = Lots of long-term financial familial obligations…5 = Lots of “old” money in the family)
Answer: 2
What’s your risk tolerance?
Do you consider yourself a gambler or do you lose sleep at night about your money?
(1 = I just want to sleep at night…5 = I’m almost reckless)
Answer: 5
How comfortable with your net worth are you?
Are you still looking to build your net worth from almost nothing or are you already very wealthy?
(1 = Still Struggling to have a net worth…5 = Already got more than I know what to do with)
Answer: 3
What’s your investment and trading financial knowledge?
Do you really need some ABCs first or are you a markets expert already?
(1 = It’s all Greek to me…5 = I could have caught Madoff)
Answer: 2
How liquid is your net worth?
Is your net worth tied up in a business or real estate or do you already have a bunch of your net worth liquid in stocks, cash, bonds and so on.
(1 = Not liquid at all…5 = Extremely liquid)
Answer: 5
Q. What are your some of your topics of expertise, interests, hobbies, etc?
What are some things you’d consider yourself an expert in – daytrading, welding, plumbing, executive recruiting, web development, veterinary medicine, etc.
A. I have a masters in accounting and worked for a big-four firm for a few years all while playing poker for a larger part of my income. Quit work a few years ago to focus on poker full-time. Lost a large amount of money on Poker’s black friday in April of 2011 (when the DOJ shut down the major poker sites serving the U.S.) and basically started over traveling and playing in live venues.
XXXXXXXX
Q. What else should I know to help you come up with the best possible playbook just for you?
Be open and honest and share other important themes, concerns and hopes that I need to know about.
A. I won a bracelet at the World Series of Poker (of which I had a backer so I only kept ~50% of winnings) this summer and also had a small % of the winner of the WSOP Main Event so my bankroll has increased substantially. I obviously have to maintain a pretty large amount of cash to be adequately bankrolled to play a full schedule of live poker tournaments but I want to pull out ~$100k and invest in the stock market over the next year (or whenever based on opportunities in the market). I gamble for a living so obviously I am not risk-averse and honestly probably “need” a little gamble in my portfolio but I want to approach it as conservatively as I am capable. Would be interested in hearing what your approach would be with someone like me who isn’t invested currently.
XXXXXXX
Q. How is your portfolio currently diversified?
Give a ball park figure of how much you have exposed to various sectors: Stocks, Mutual Funds, Real Estate, Precious Metals, Cash, etc
A. I currently have $0 invested in equities. I have a little gold and silver and am sitting on all cash.