poker and financial lessons

[Baoka]

We have a lot of problems managing our personal finances. Especially in the Eastern environment, very few parents have talks with their children about money management. Then, the first time I went to work, I got stuck in the cycle of receiving salary and repaying debt. We grow up with extremely poor personal financial management. If we do not manage our own money and later start a business, we will face many difficulties in managing the company's finances.

So according to Tony Hsieh, poker will remind you to always prepare for the worst situations. Make sure you have enough funds for the game and the challenges you will face. Poker and life always include unexpected variables. Make sure you get the answers to the above questions before entering the game.
And a huge lesson that we often make but don't realize. Are you familiar with this saying: "The higher the profit, the greater the risk?" This saying is so common that people rush into risky forms of investment in the HOPE of high profits. leading to situations of total loss and debt. When playing poker, train yourself in the habit of looking for the least risky options. You need to think about the long term, not short-term goals. If you have the opportunity to play poker, pay attention to these things!

Lesson from Tony Hsieh: Do the expected positive value, not the riskiest thing. And hoping is not a good plan (especially when it comes to finances and strategy).

 

[EarnDAStack]

Poker is similar to investing in the stock market in my opinion.

It's all about risk management. I think many of the points you touch on are true. Poker can teach you a lot of things both about life and how to manage money. It takes discipline to stay within your bankroll and to avoid the temptations to chase losses or play for more money. Also as you said it can turn into a business that can help improve the living conditions of your family similar to starting a business in another sector.


Poker tests you in a lot of ways, but if you're patient enough to learn from the trials it puts you through the lessons you learn about yourself can expand far beyond the tables and help you become a better more well rounded person in all aspects of life.

 

[Wega85]

I would agree that poker and investing in stocks are very similar. you pick you stock just like the hands you are dealt with. then you have to decide how much funds you want to allocate to the hand/company. then you see what happens to the stock over a period of time depends on your trading style. daytrader or long term investing. then if the hands/the stock outcome is in your favor then you have to decide if you want to invest more /put money to your hands or not then decide how much profit to take or if the outcome is not in your favor then you cut your losses or fold then hand.
sry if its confusing. but its very similar

 

[Achrarock]

Poker teaches risk management, patience, and decision-making under uncertainty. Similarly, financial success often involves calculated risks, strategic planning, and disciplined decision-making. Both domains emphasize adapting to changing situations.

 

[YLAN]

Learned the "financial lessons" as a kid managing my allowances. I guess if I have to wait for poker to teach me then it would be too late.