Pool Professionals and Road Players and their winnings...

[Mr. J]

This is kind of a touchy subject and I was just wondering about some things you fellow players may have experienced or attempted with our great players...

I was wondering if any of you have given advice to a player who has won a substantial amount of money. Have you given advice about a possible investment for his future??? Perhaps an IRA or Stocks or 401K ....you get the drift here...

We have in our area Bill Cress..."Diamond Bill from Pleasant Hill, Never Worked and Never Will..."

Good thing for Bill, he has a daughter who lives here and he lives with her now and seems to be just getting by here and there...

I am quite sure Bill is near 70 or so and I must say that he is a very nice person to all of us at the Pool Hall..

He has given help and advice to many of us and we have given him tips in return many times...sometimes he asks in private and I just give a little cuz I like him and maybe I am a little soft in the matter all together...

However, when thinking about it, I am quite sure that when he won money in the past, that he usually very soon put the money back in Action on another game or match...

Sure wish these great players would have someone or somewhere or someplace to help them and show them the way to prepare for their later years in life...

Just was wondering what you guys thought and what your experiences have been in this matter...

Thanks in advance...

Mr. J.

 

[decent dennis]

This is kind of a touchy subject and I was just wondering about some things you fellow players may have experienced or attempted with our great players...

I was wondering if any of you have given advice to a player who has won a substantial amount of money. Have you given advice about a possible investment for his future??? Perhaps an IRA or Stocks or 401K ....you get the drift here...

We have in our area Bill Cress..."Diamond Bill from Pleasant Hill, Never Worked and Never Will..."

Good thing for Bill, he has a daughter who lives here and he lives with her now and seems to be just getting by here and there...

I am quite sure Bill is near 70 or so and I must say that he is a very nice person to all of us at the Pool Hall..

He has given help and advice to many of us and we have give him tips in return many times...sometimes he asks in private and I just give a little cuz I like him and maybe I am a little soft in the matter all together...

However, when thinking about it, I am quite sure that when he won money in the past, that he usually very soon put the money back in Action on another game or match...

Sure wish these great players would have someone or somewhere or someplace to help them and show them the way to prepare for their later years in life...

Just was wondering what you guys thought and what your experiences have been in this matter...

Thanks in advance...

Mr. J.

Hmmn, never worked and never will. Sounds to me like he worked some of you guy's.

 

[LucasBilliards]

I think that most people in general don't think that way. You see very few people investing in their future. Whether it be through stocks, 401k, or even investing in their own business I just don't think people think that way, pool players included. In every profession you have people who have plenty of oppportunity to invest in their future and just don't. Then they end up with nothing to show for it. Look at football, basketball, baseball players, entertainers that make millions of dollars and a few years after they retire or even while playing are broke. I don't think it's a pool issue I think it's an everyone issue. People live in the now.

 

[Black-Balled]

i HEARd some statistics recently about retiremant savings and the % of folks under 55 that had more than 50k in retirement savins was shockingly low.
(And 50k isn't sufficient to support a non-working individual too long either)

Years past, CD rates were attractive enough to justify thowin 5-20 k at one, but now, prob just as good to keep that cheezez in your pocket.

 

[argonath]

From the movie margin call:

"Did you make $2.5 million last year?"

"yea, sure"

"How did you spend it?"

"Easy"

"Let's see... half went right away to the taxman, so now I have 1.25"...
"Then $300,000 for my mortgage, $150K I sent to my parents to help keep them going... whats that left?"

"800,000"

"Oh yea. Then there's $150,000 for my car, $75000 for eating out, another $50,000 for clothes. Oh, and I socked away $400,000 for a rainy day"

"What about the $125000 left?"

"Oh yea... I spent $75620 on hookers, booze, and nights out"

"You spent $75000 on hookers?"

"That's what I thought at first, but then I realized I could deduct most of it as a business expense."