If you won....

[Akverno]

200k, really isn't so much to be worked up about.

80k taxes

35-40k student loans
50k brokerage account
30k fun money (trip to vegas, trip to europe, yadda yadda)

[Benji]

30k remains at poker stars.
cashout 170k
40k on Red.
50k for a new car.
Throw one big party and invite all my friends .
Put the rest of it in a bank.

[Talking Poker]

I already cash out from my online roll somewhat regularly, so that must mean what I have online now is adequate, right? So, I don't think I'd keep any of it online... I dunno, I might keep 5 or 10k (over and above my current roll) to specifically take some shots with, play for trip sattys, etc. Money that I wouldn't stress about losing.

I'd take another chunk - not sure how much though - and set it aside for a live roll. Fund a trip to the WSOP and play in a bunch of the preliminary events for a year or two. $20k should cover that, as I don't see myself buying in to any $10k event anywhere anytime soon, regardless of what I have in the bank.

I'd probably buy myself something nice, but I have no idea what. I'm pretty fortunate in that I already have everything I "need" and most everything I want. Maybe I'd take a nice trip or two or three, specifically earmarking money from this hit to cover the costs.

I guess I could pay off or pay down my house.

But most of it would just get invested.

[Akverno]

Apparently someone didn't like me saying 200k wasn't that much to get worked up about. I guess I should have been more clear.

After taxes, you're looking at two-four year's pay from winning a poker tournament (for most people with a decent job). A lot people aren't calculating the implication that you'll be adjusted into the alternative minimum tax (which screws up all sorts of tax cuts/benefits).

IMHO 200k isn't enough to freak out about. Is it enough for someone to quit a decent job, probably not. Is it enough to retire on for the rest of your life, probably not (unless you were to move to a third world country and live poor the rest of your life). It's a nice chunk of change that will help alleviate a lot of short term problems for many people. It may give some the flexibility to make life altering changes for most they will pay off debt, blow some of it, and invest the rest of it. I guess someone could always pull an eejit and blow all of it online.

There was actually an article really similar to this in money magazine. What to do if you inherited 100k today.

As far as how much to keep online, 5k tops. I have no intention of trying to play stakes that are that far above my skill level.

[Akverno]

The article appeared in the March 2008 issue under the heading, seven ways to invest a windfall.

Edit: I guess it was SmartMoney Magazine. Here's a link to the article:

[Wes]

It was me that thought your post was dumb, and I'm pretty sure I am more financially sound than like 99% of this forum. Even 200k to me is still a shitload of money.

[Reel Deal]

I'd have a lot of uses for that much cash. It's funny, the more you make the more you spend. I make a ton more now then I did 15 years ago but I don't really feel like I have more discretionary money than I did back then, feels like less. Of course, at this point, I would probably take it and stash it away for my boys college funds, so I wouldn't see much of it.