Dollars And Sense: Expert Advice On Making Poker Winnings Last

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The 2018 World Series of Poker is over and plenty of players now have some big money. But what’s next? Poker is full of stories of players who’ve gone broke, owe others, and hoping they score at that next event to make ends meet.

Isn’t there a better way? Many who’ve socked some money away may not know what to do. Poker players aren’t alone. Many Americans struggle with personal finance as the New York Post reported about a new study of Americans and money:

• 48 percent don’t understand interest.
• 48 percent don’t understand the concept of bankruptcy.
• 34 percent don’t understand how inflation works.
• 55 percent feel lost regarding long-term financial planning.

USPoker reached out to some who have experience for some advice.

Zak Zimbile, Kondler & Associates

Zimbile is a CPA specializing in tax and financial advice, and first advises to plan for taxes. The most important thing is awareness, he says, and to consult with an accountant to determine year-to-date earnings to estimate taxes owed.

“This gives you a better idea of how to plan the rest of your year and how future tournaments and expenses will impact your tax situation,” he says. “It is much easier...

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from Safest Online Poker Real Money https://www.uspoker.com/blog/dollars-and-sense-expert-advice-on-making-poker-winnings-last/24285/
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