SVB will be the first millionaire pool player??

[CJ Wiley]

it's about quality of life........inside and out. 'The Game is the Teacher'

Yes, that's a fact, it's better to love what you do and who you're with than have financial abundance - there's a lot of wealthy people that are miserable.....more than anyone cares to imagine....those that buy into the "it's all about money" brainwashing sooner or later "real eyes" they've been led astray - hopefully it's not too late.

I'm sure Robin Williams and many celebrities would agree, it's not "all about the money," it's about quality of life, physical, mental and spiritual - stay healthy my friends. 'The Game is the Teacher'

The sick b***h of it is when you compare SVBs level of play to that of other top athletes in their own sport.... For instance Lebron will make more in a year than a gaggle of pool players will in their lifetimes combined. It is what it is, if ya like what you do the money is only a bonus anyway

 

[Eric.]

Your mistake here is that you stopped adding the $300 monthly over those 15 years.

Nope, he was close. It goes like this:

-$300 invested per month, for 15 years
-10% CAGR

Starting with $300 in month 1, you get $ 121,739.54 by month 180, if the 10% is compounded annually (not monthly).

You would be a little shy of 1mm bucks.


Eric

Originally Posted by nobcitypool View Post
Investing $300/month won't give you anywhere close to a million dollars after 15 years. Here's simple math. 10% annual returns on your investment essentially doubles your money after 7.2 years. $300/month or $3,600 per year would roughly be $3600 x 2 x 2 in 15 years or $14,400. 15 x that isn't close to a million.

For an investment of $300 per month, you'd do well to find guaranteed investment tool that would guarantee you 2% compounded interest right now.

 

[rope_one]

Nope, he was close. It goes like this:

-$300 invested per month, for 15 years
-10% CAGR

Starting with $300 in month 1, you get $ 121,739.54 by month 180, if the 10% is compounded annually (not monthly).

You would be a little shy of 1mm bucks.

This math is correct (or really close anyway, I get $124,345 for $300 a month for 15 years, assuming 10% APR). Either way I enjoy everyone who says that can't find 2% or 5% returns, you realize this year the S&P has already posted a 9.76% return, but I digress.

$1320/month for 20 years at 10% would get you the 1mm for reference. :thumbup:

 

[BJTyler]

This math is correct (or really close anyway, I get $124,345 for $300 a month for 15 years, assuming 10% APR). Either way I enjoy everyone who says that can't find 2% or 5% returns, you realize this year the S&P has already posted a 9.76% return, but I digress.

$1320/month for 20 years at 10% would get you the 1mm for reference. :thumbup:

2% is certainly doable...but finding investments that guarantee 5% annualized for 15 years is almost impossible in today's market.

Of course if you're willing to take some risk (like in the stock market), you should be able to find investments that have an expected return of 5%.

 

[jcrack_corn]

you guys.....lol

the 140 year history of the s and p is annualized at 9 percent

1999-2014 is 6 percent
2000-2014 is 3 percent

buffet is 20 percent lifetime, soros is 30

if you can get annualized 10 percent over 30 years (or15!) then you are one of the top 50 investors to have ever lived (in regards to publicly traded equities)

rarely would a CFP base a calculation on anything higher than 8 percent....and 8 is gonna comr with some warnings

 

[Black-Balled]

Where's the pool?!

 

[RiverCity]

Where's the pool?!

Out back of all the millionaires houses......
Chuck

 

[Old Nine Baller]

Shane will probably be a millionaire when he retires. He is already investing money in retal property and things right? At least that's what I have heard.

He's investing in casinos. Too bad he doesn't own a piece of one. He'll be a broke dick just like every other poolplayer when he quits playing. They'll be begging on here for donations for his funeral costs. It won't be the first or last time for that play.

ONB

 

[Eric.]

No mistake made at all. If you take 12 months x 15 years x $300/month you get $54,000. That's the total investment you'd have by investing $300 per month for 15 years. If you put $54,000 into an investment tool today earning 5% interest, you wouldn't have anywhere close to $1,000,000 in 15 years. It's irrelevant because you can't get 5% guaranteed compounded interest right now but why be concerned with trivial facts like that?

Theoretically...realistically...reminds me of a joke-


A son asks his dad the difference between theoretically and realistically.

Dad says thats hard to answer but i have an idea! Ask mom if she would sleep with Brad Pitt for 1million, Mom says yes.

Dad says now ask your sister if she would, sister says yes.

Dad says there you go, son, thats your answer: theoretically we're sitting on 2 million bucks, but realistically, we're living with 2 whores.


Eric

 

[nobcitypool]

Theoretically...realistically...reminds me of a joke-


A son asks his dad the difference between theoretically and realistically.

Dad says thats hard to answer but i have an idea! Ask mom if she would sleep with Brad Pitt for 1million, Mom says yes.

Dad says now ask your sister if she would, sister says yes.

Dad says there you go, son, thats your answer: theoretically we're sitting on 2 million bucks, but realistically, we're living with 2 whores.


Eric

Perfect! LMAO

 

[pwd72s]

...............................................................................

 

[Ak Guy]

Why in court

Why did it end up in court? Did some one offer some thing they could not come up with?

 

[RiverCity]

Why did it end up in court? Did some one offer some thing they could not come up with?

CJ can give the most accurate explanation of the actual events, but rumor has it, that it was something along the lines of getting a Lloyds of London or the like insurance policy with the caveat that it was a next to impossible to run 10 racks, and of course Earl does it the first tournament. The provider felt defrauded and contested paying.
Chuck

 

[CJ Wiley]

We did an entire Documentary on this subject that is available now

The provider did not "feel defrauded," - the story is very complicated, and best heard through the memories of those that were actually there, like Jay Helfert, Earl Strickland, Max Eberle, myself, and several others.

We did an entire Documentary on this subject that is available now at www.cjwiley.com

This includes an hour and 7 minutes of interviews and actual footage of the event....plus lot's of extras....the interview with Earl alone is worth the price of admission. click picture for ordering info.

CJ can give the most accurate explanation of the actual events, but rumor has it, that it was something along the lines of getting a Lloyds of London or the like insurance policy with the caveat that it was a next to impossible to run 10 racks, and of course Earl does it the first tournament. The provider felt defrauded and contested paying.
Chuck

 

[RiverCity]

Heres Jays version from 2007

 

[jalapus logan]

People, including pool players, should learn how to invest, how to manage their money. A truck driver called "Money Talk", a radio show on money management, last Sunday. By working hard and managing well, he admitted to having a portfolio worth $1.2 million. He also mentioned that he did this by investing and NOT blowing money on toys like new Harleys.

Ahhh, but saving and investing is the opposite of what most pool players think. The pool community is full of Grasshoppers with very few ants around.

If Shane learns to invest and manage well, he could very easily be a millionaire by the time he ages out of pool.

I PM'd JAM, suggested she buy a book after she posted of Keith's residuals windfall.
I'd also give odds she ignored me.

This book contains many things Cindy & I had to learn the hard way over years of investing. It explains the investing world in an easily understood manner.

So, one more time...I'll list it for all here...and sadly I'll most likely be ignored:

The Bogleheads Guide to Investing
by Taylor Larimore, Mel Lindauer, and Michael LeBoeuf.

I will second your motion sir. The bogle heads method works. But folks don't tend to like to either listen or put in the work.

 

[BJTyler]

Heres Jays version from 2007

From this retelling, is it reasonable to infer that Earl somehow figured out a way to rack in order to create a "wired" or "live" nine bal?

How would somebody rack to create a "wired" or "live" nine ball?

Is this considered legitimate, or would it somehow violate/skirt WPA/BCA rules?

 

[RiverCity]

From this retelling, is it reasonable to infer that Earl somehow figured out a way to rack in order to create a "wired" or "live" nine bal?

How would somebody rack to create a "wired" or "live" nine ball?

Is this considered legitimate, or would it somehow violate/skirt WPA/BCA rules?

Leave a gap behind the 9 on one side and try to make sure its the only gap. The 9 will go the path of least resistance and move towards the gap. If the spacing is right, and the hit on the head ball is right for that spacing you create a carom towards the pocket. Not easy to do consistently, but its doable. Ever see somebody make the 9 ball two or more times in a row? Its usually the dents the balls set in creating the perfect gap to create that carom.
Conversely if youre racking for your opponent make sure the two balls behind the 9 are froze and watch the 9 sit still most of the time unless it gets kicked.
Chuck

 

[BJTyler]

Leave a gap behind the 9 on one side and try to make sure its the only gap. The 9 will go the path of least resistance and move towards the gap. If the spacing is right, and the hit on the head ball is right for that spacing you create a carom towards the pocket. Not easy to do consistently, but its doable. Ever see somebody make the 9 ball two or more times in a row? Its usually the dents the balls set in creating the perfect gap to create that carom.
Conversely if youre racking for your opponent make sure the two balls behind the 9 are froze and watch the 9 sit still most of the time unless it gets kicked.
Chuck

Very interesting, I guess I just haven't spent enough time learning the rack!

Now, what about my other two questions?

- do you think earl was doing this?
- is it legal/ethical?

 

[iba7467]

No mistake made at all. If you take 12 months x 15 years x $300/month you get $54,000. That's the total investment you'd have by investing $300 per month for 15 years. If you put $54,000 into an investment tool today earning 5% interest, you wouldn't have anywhere close to $1,000,000 in 15 years. It's irrelevant because you can't get 5% guaranteed compounded interest right now but why be concerned with trivial facts like that?

If you think that isn't correct, consider this. Based upon your form of math, a 15 year mortgage for $1,000,000 at 5% interest could be paid off with $300 per month payments. Reality is closer to $7,000 per month but again, why bother with facts?

I'll take four $1,000,0000 homes please. Seriously, why are you bringing logic into an internet argument?

I really get a kick out of all the comments. A million net worth today is nothing. Financial management, read not owning an iPhone or new car on $20k per year, and almost anyone can have a solid net worth. All of us must balance immediate gratification with future comfort. The problem is ALMOST ALL pool players are not looking at the future.