Suze Orman: OK, next caller. Welcome to "Can I Afford It?" What would you like to buy?
Dead Money Joe: Hi, Suze. I'm Joe from Rockville, MD and I'd like to play the Main Event at the World Series of Poker.
Suze Orman: And what does that cost?
Dead Money Joe: Ten thousand dollars.
Suze Orman: OK, Joe. Tell me a little bit more about your finances.
Dead Money Joe: I'm 34 years old and I take home about $4,500 a month. My mortgage payment is $1,200 and I have two kids. I have about $9,000 in credit card debt and I lease a Honda Accord for $269 a month.
Suze Orman: 401(k)? Savings?
Dead Money Joe: I have a 401(k) but it's lost like 40% this year. I had a savings of about $6,000 but had to use it to pay some medical bills.
Suze Orman: Hold on a minute. You take home $54,000 a year, you're in credit card debt, have no savings and what little investments you had tanked? Where are you going to get the $10,000?
Dead Money Joe: Well I won an $11 satellite on Poker Stars, which got me into a $160 double shootout and then I won two sit 'n goes and got my buy-in.
Suze Orman: What?
Dead Money Joe: Let's just say I won the $10,000 on an $11 investment.
Suze Orman: And you're asking me if you should go gamble that money?
Dead Money Joe: Poker isn't gambling. It's a skill game.
Suze Orman: I don't care what skills you have. YOU CAN'T AFFORD THIS, JOE!
Dead Money Joe: But there's an $8 million first place prize. And it's my lifelong dream. And there is so much dead money in that field.
Suze Orman: No, Joe. You're the dead money. Take that $10,000, wipe out that credit card debt, and you'll almost have enough money to make next month's mortgage payment. Next caller!