Pro
Do you want to be a professional chess player or just playing for fun?

Always played just for fun. Even the two times money changed hands was for fun; once around 1969 agreed to a $5 bet against a guy who thought I would be intimidated by him or the money (I won) and once played a Washington Square NYC hustler in the late 90's just for the experience (of course I lost). Now 11 years fully retired, what would be the point of playing for money? Never considered being a professional, always knew I would never get that good.
I do not think that the Morphy quote is authentic. There is a somewhat similar comment about billiards that has sometimes been attributed to Herbert Spencer.
"Moderate skill in billiards implies a certain amount of mental capacity, but such skill as you have displayed is clear evidence of a misspent youth."
I think the authenticity of that quote has also been questioned.
Possibly of interest:
"... the NM title is an honor that only one percent of USCF members attain. ..." - IM John Donaldson (2015)
http://www.jeremysilman.com/shop/pc/Reaching-the-Top-77p3905.htm
What It Takes to Become a Chess Master by Andrew Soltis
"... going from good at tactics to great at tactics ... doesn't translate into much greater strength. ... You need a relatively good memory to reach average strength. But a much better memory isn't going to make you a master. ... there's a powerful law of diminishing returns in chess calculation, ... Your rating may have been steadily rising when suddenly it stops. ... One explanation for the wall is that most players got to where they are by learning how to not lose. ... Mastering chess ... requires a new set of skills and traits. ... Many of these attributes are kinds of know-how, such as understanding when to change the pawn structure or what a positionally won game looks like and how to deal with it. Some are habits, like always looking for targets. Others are refined senses, like recognizing a critical middlegame moment or feeling when time is on your side and when it isn't. ..." - GM Andrew Soltis (2012)
https://web.archive.org/web/20140708093409/http://www.chesscafe.com/text/review857.pdf
100 Chess Master Trade Secrets by Andrew Soltis
https://web.archive.org/web/20140708094523/http://www.chesscafe.com/text/review916.pdf
Reaching the Top?! by Peter Kurzdorfer
"... On the one hand, your play needs to be purposeful much of the time; the ability to navigate through many different types of positions needs to be yours; your ability to calculate variations and find candidate moves needs to be present in at least an embryonic stage. On the other hand, it will be heart-warming and perhaps inspiring to realize that you do not need to give up blunders or misconceptions or a poor memory or sloppy calculating habits; that you do not need to know all the latest opening variations, or even know what they are called. You do not have to memorize hundreds of endgame positions or instantly recognize the proper procedure in a variety of pawn structures.
[To play at a master level consistently] is not an easy task, to be sure ..., but it is a possible one. ..." - NM Peter Kurzdorfer (2015)
http://www.thechessmind.net/blog/2015/11/16/book-notice-kurzdorfers-reaching-the-top.html
http://www.jeremysilman.com/shop/pc/Reaching-the-Top-77p3905.htm
"Yes, you can easily become a master. All you need to do is some serious, focused work on your play.
That 'chess is 99% tactics and blah-blah' thing is crap. Chess is several things (opening, endgame, middlegame strategy, positional play, tactics, psychology, time management...) which should be treated properly as a whole. getting just one element of lay and working exclusively on it is of very doubtful value, and at worst it may well turn out being a waste of time." - IM pfren (August 21, 2017)
"Every now and then someone advances the idea that one may gain success in chess by using shortcuts. 'Chess is 99% tactics' - proclaims one expert, suggesting that strategic understanding is overrated; 'Improvement in chess is all about opening knowledge' - declares another. A third self-appointed authority asserts that a thorough knowledge of endings is the key to becoming a master; while his expert-friend is puzzled by the mere thought that a player can achieve anything at all without championing pawn structures.
To me, such statements seem futile. You can't hope to gain mastery of any subject by specializing in only parts of it. ..." - FM Amatzia Avni (2008)
https://www.chess.com/blog/EOGuel/so-whats-been-up-with-me
"... Though being a chess pro might sound romantic (it certainly did to me when I was young), the romance quickly melts away when you realize that you’re broke, starving, and living in a hovel. Iif you live in America, then you can forgot about health insurance … way, way too expensive. Other than the top 10 or 20 grandmasters, most of the rest will never make a lot of money. As a result, grandmasters usually have to teach chess and write chess books. It wasn’t what they wanted to do when they started out, but when reality hits you in the face, you have to bow to it.
Of course, being a grandmaster and teaching students and writing books isn’t that bad. But you would make far more money and have much more security if you went to university and got a great career. And don’t forget that very few people ever become international masters and grandmasters. Keep in mind that there are 600 million to 800 million chess players in the world and only 1522 grandmasters.
It's not all bad news!
Mr. BeekeeperBob, let’s discuss this in a positive light. I’ve known many very low-rated chess teachers who are absolutely excellent. Teaching is a skill, and even if you’re rated 1500, you might be just what the doctor ordered for children or beginners of any age. …"
https://www.chess.com/article/view/can-anyone-be-an-im-or-gm
https://www.chess.com/blog/BlakeyBChess/5-keys-to-becoming-a-chess-master-as-an-adult
http://www.cbsnews.com/news/kids-fight-stereotypes-using-chess-in-rural-mississippi/
http://brooklyncastle.com/
https://www.chess.com/article/view/don-t-worry-about-your-rating
https://www.chess.com/article/view/am-i-too-old-for-chess
https://www.chess.com/article/view/how-can-older-players-improve
Train Like a Grandmaster by Kotov
Becoming a Grandmaster by Keene
What It Takes to Become a Grandmaster by GM Andrew Soltis
http://www.chessmastery.co.uk/chess-books/book-review-what-it-takes-to-become-a-grandmaster-andrew-soltis/
"BENJAMIN FINEGOLD (born Sep-06-1969 ...) ... Ben became a USCF Life Master at 15, USCF Senior Master at 16, an International Master in 1989, and achieved his final GM norm at the SPICE Cup B Section in September, 2009. ..."
http://www.chessgames.com/player/benjamin_finegold.html
"MARK IZRAILOVICH DVORETSKY (... died Sep-26-2016 ...) ... He was ... awarded the IM title in 1975. Dvoretsky was also a FIDE Senior Trainer and noted author. ... During the 1970s, Mark was widely regarded by the strongest IM in the world, ..."
http://www.chessgames.com/player/mark_izrailovich_dvoretsky.html
"To become a grandmaster is very difficult and can take quite a long time! ... you need to ... solve many exercises, analyse your games, study classic games, modern games, have an opening repertoire and so on. Basically, it is hard work ... It takes a lot more than just reading books to become a grandmaster I am afraid." - GM Artur Yusupov (2013)
http://www.qualitychess.co.uk/ebooks/QandAwithArturYusupovQualityChessAugust2013.pdf
https://www.chess.com/blog/smurfo/book-review-insanity-passion-and-addiction
http://www.nytimes.com/1988/09/26/books/books-of-the-times-when-the-child-chess-genius-becomes-the-pawn.html
https://www.forbes.com/sites/alexknapp/2017/05/05/making-a-living-in-chess-is-tough-but-the-internet-is-making-it-easier/#4284e4814850
https://www.chess.com/news/view/is-there-good-money-in-chess-1838
"... Many aspiring young chess players dream of one day becoming a grandmaster and a professional. ... But ... a profession must bring in at least a certain regular income even if one is not too demanding. ... The usual prize money in Open tournaments is meagre. ... The higher the prizes, the greater the competition. ... With a possibly not very high and irregular income for several decades the amount of money one can save for old age remains really modest. ... Anyone who wants to reach his maximum must concentrate totally on chess. That involves important compromises with or giving up on his education. ... it is a question of personal life planning and when deciding it is necessary to be fully conscious of the various possibilities, limitations and risks. ... a future professional must really love chess and ... be prepared to work very hard for it. ... It is all too frequent that a wrong evaluation is made of what a talented player can achieve. ... Most players have the potential for a certain level; once they have reached it they can only make further progress with a great effort. ... anyone who is unlikely to attain a high playing strength should on no account turn professional. ... Anyone who does not meet these top criteria can only try to earn his living with public appearances, chess publishing or activity as a trainer. But there is a lack of offers and these are not particularly well paid. For jobs which involve appearing in public, moreover, certain non-chess qualities are required. ... a relevant 'stage presence' and required sociability. ... All these jobs and existences, moreover, have hanging above them the sword of Damocles of general economic conditions. ... around [age] 40 chess players ... find that their performances are noticeably tailing off. ..." - from a 12 page chapter on becoming a chess professional in the book, Luther's Chess Reformation by GM Thomas Luther (2016)
http://www.qualitychess.co.uk/ebooks/LuthersChessReformation-excerpt.pdf
https://finance.yahoo.com/news/world-chess-championship-inside-the-business-of-chess-magnus-carlsen-maurice-ashley-hikaru-nakamura-154502738.html
1) Are/were you IM under the age of 10?
Yes- go to #2
No- You are not a pro ...
"BENJAMIN FINEGOLD (born Sep-06-1969 ...) ... Ben became ... an International Master in 1989, ..."
http://www.chessgames.com/player/benjamin_finegold.html

1) Are/were you IM under the age of 10?
Yes- go to #2
No- You are not a pro
2) Are you in the top 50 players in the world (if under 25. If over 25, top 5 players in the world)\
If yes, You might be to supplement your income although a true pro is not likely. Skip to #4
If no, got to #3
3) Do you have an exceptional ability for teaching, speaking, writing?
If no, you are not a pro
if yes, you might be able to be able to make some income buyt you are not a pro.
4) Have you played in a world championship match:
No, not a pro
yes- Maybe go to #5
5) Were you competitive in your wc match:
No- not a pro
Yes go to #6
6) Did you win the wc or are you least decent looking in a suit
yes- You might be able to make a living as a chess plyer
no- practice the phrase "Do you want fries with that" It will help you
nobody was IM under 10
title says all.