10/4/2010--September results

SEPTEMBER 2010 WORK HOURS: 149.75

I need to do better in October. 2,000 hours is generally considered to be a normal work year in the United States*, so dividing 2,000 hours by 12 months, I should be getting in 166.67 hours per month.

Because of the current family situation, there will most definitely be times when it's hard to get in the hours. But overall, I see no reason why I can't average 40 hours per week.

POKER PROFIT AND LOSS
Starting bankroll, 9/1: $54.14
Ending bankroll, 9/30: $45.63
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Change in bankroll: -$8.51
Less 9/20, $10 deposit to PokerStars account
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-$18.51

Not good, but considering that at one point I was down more than $40 for the month, I'll take it. I'm not having any problem making enough in 1-3 table tournaments to keep playing the MTTs until I get a big cash.

The main thing that I have to keep in mind is that I can't let my bankroll drop significantly, for any reason, including withdrawls. Until I'm at $104 or so and can play $2 tournaments, I have very little room to navigate. I want to use at least 50% of what I win to keep building my bankroll, and since I have to escrow 30% of my winnings for estimated tax payments, that doesn't give me much wiggle room.

The point at which I can make a significant contribution to the family income while playing MTTs is probably somewhere between $5.50 and $11 tournaments, which would require bankrolls of $308 and $671 respectively. So the sooner I can build my bankroll, the better.


*Assuming that the average worker takes two weeks of vacation a year:
(50 work weeks) X (40 hours per week) = 2,000-hour work year.