Posted on Jan 13, 2016
Here's Mark Cuban's advice for whoever wins the $1.4 billion Powerball lottery
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Mark Cuban has some advice for potential Powerball winners. What do you think about his advice, and what would you add to, or take away from his advice?
* [The first thing you should do is] hire a tax attorney.
* Don't take the lump sum. You don't want to blow it all in one spot.
* If you weren't happy yesterday, you won't be happy tomorrow. It's money. It's not happiness.
* If you were happy yesterday, you are going to be a lot happier tomorrow. It's money.
Life gets easier when you don't have to worry about the bills.
* Tell all your friends and relatives no. They will ask. Tell them no. If you are close to them,
you already know who needs help and what they need.
* Feel free to help SOME, but talk to your accountant before you do anything and remember
this, no one needs $1 million for anything. No one needs $100,000 for anything. Anyone
who asks is not your friend.
* You don't become a smart investor when you win the lottery. Don't make investments. You can put it in the bank and live comfortably. Forever. You will sleep a lot better knowing you won't lose money.
* [The first thing you should do is] hire a tax attorney.
* Don't take the lump sum. You don't want to blow it all in one spot.
* If you weren't happy yesterday, you won't be happy tomorrow. It's money. It's not happiness.
* If you were happy yesterday, you are going to be a lot happier tomorrow. It's money.
Life gets easier when you don't have to worry about the bills.
* Tell all your friends and relatives no. They will ask. Tell them no. If you are close to them,
you already know who needs help and what they need.
* Feel free to help SOME, but talk to your accountant before you do anything and remember
this, no one needs $1 million for anything. No one needs $100,000 for anything. Anyone
who asks is not your friend.
* You don't become a smart investor when you win the lottery. Don't make investments. You can put it in the bank and live comfortably. Forever. You will sleep a lot better knowing you won't lose money.
Here's Mark Cuban's advice for whoever wins the $1.4 billion Powerball lottery
Posted from finance.yahoo.com
Lottery
Advice
Posted 9 y ago
Responses: 3
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So I got him saying this on one shoulder and Mother Theresa saying "give till it hurts" on the other....hmmm?
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I wouldn't want to win the lottery.
I would be afraid of the man I would become after that. Lavish, rude, and unsupportive of my fellow man. Because now everyone wants the money I have and I would still look at it as if I am loosing to much.
I like living in the way I do now, I like to help out my friends and family with what I can do. I don't want to deal with people coming up to me asking for cash, and I wouldn't like to live so lavish that others are super envious of me.
I would be afraid of the man I would become after that. Lavish, rude, and unsupportive of my fellow man. Because now everyone wants the money I have and I would still look at it as if I am loosing to much.
I like living in the way I do now, I like to help out my friends and family with what I can do. I don't want to deal with people coming up to me asking for cash, and I wouldn't like to live so lavish that others are super envious of me.
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I think it would be tough decisions all around, as I would want to be generous, but to who? My well-off 1st world relatives and friends, or children starving without access to decent healthcare or clean water? Which organizations can get the right resources in the right places? Should I make my own organization? Do I disappear from public (to keep people from bugging me about money) and just show up at friends' places every so often? Travel the world?
A lot of hard questions...but I think I'd be willing to take on the challenge. :)
A lot of hard questions...but I think I'd be willing to take on the challenge. :)
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