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re: "Don't make investments"- Mark Cuban on advice to powerball winner
Posted on 1/12/16 at 6:02 pm to Kcoyote
Posted on 1/12/16 at 6:02 pm to Kcoyote
quote:
Don't give money to your family. What a shitty thing to imply. Winning the lottery doesn't make you special. Your family living happily for the rest of their lives is special.
Giving out 10MM to a family member is like spoiling the shite out of a child. Eventually you are going to regret it.
0
Posted on 1/12/16 at 6:02 pm to Kcoyote
quote:
Don't give money to your family. What a shitty thing to imply.
I think you're taking the extreme approach to his suggestions. He said that you'll know who needs what in your family and that those who ask for something aren't to be trusted. I don't believe that is a bad way to start.
Posted on 1/12/16 at 6:07 pm to Kcoyote
quote:
Don't give money to your family. What a shitty thing to imply. Winning the lottery doesn't make you special. Your family living happily for the rest of their lives is special.
Don't take things so literally. He means don't give money to every cousin that comes running off the skreet. That's just asking for trouble
Posted on 1/12/16 at 6:08 pm to slackster
I agree with that, and I trust my immediate family to make the best decisions possible for themselves. I'd gladly give out $10 million to my parents. That money would be covered in a year from just interest.
Posted on 1/12/16 at 6:10 pm to KarlMalonesFlipPhone
And he never said don't give family money. He even spelled it out further and said to give it to SOME.
Sometimes I wonder how so many people can read something, yet be convinced it says something else.
quote:
Feel free to help SOME, but talk to your accountant before you do anything and remember this, no one needs 1m dollars for anything. No one needs 100k for anything. Anyone who asks is not your friend.
Sometimes I wonder how so many people can read something, yet be convinced it says something else.
Posted on 1/12/16 at 6:20 pm to Jim Rockford
How hard is it to invest that money. Apartment complexes, Trailer parks, RV parks and you would have literally millions flowing in monthly.
Posted on 1/12/16 at 6:25 pm to 13SaintTiger
Take the lump sum. What if the money is no longer available to make payments. Just sayin'.
Posted on 1/12/16 at 6:32 pm to Aristo
quote:
Take the lump sum. What if the money is no longer available to make payments. Just sayin'.
Not sure what would cause this
Posted on 1/12/16 at 6:43 pm to 13SaintTiger
With that much cash on hand, why invest?
Posted on 1/12/16 at 6:48 pm to joeleblanc
Why lose money when you don't have to?
Investing in T-Bills would mean that the money will never run out. Like forever. If you can live on "only" 10 million per year from interest and have the restraint to not ever dip into the principal, then the money will literally never run out.
Investing in T-Bills would mean that the money will never run out. Like forever. If you can live on "only" 10 million per year from interest and have the restraint to not ever dip into the principal, then the money will literally never run out.
Posted on 1/12/16 at 7:02 pm to 13SaintTiger
LOL at Cuban's advice. He doesn't even mention setting aside $1,000 for emergencies. What if the car breaks down?
Posted on 1/12/16 at 7:46 pm to CaptSpaulding
I would out it in low risk investments like CDs and Bonds. Live lavishly on 50% of the interest accrued every year and reinvest the rest. That is after I bought a home in Kauai ($3million), Grand Cayman($3 million), and a 1000+ acre ranch in Montana with a new luxury cabin/lodge(4 million). A vehicle at each to remain there permanently ($180,000). Oh yeah, A couple of snow mobiles and a fishing boat. I would be set after my initial $15 million wish list was complete. I could live on about $250,999 a year enjoying my homes and toys.
Posted on 1/12/16 at 7:53 pm to JohnnyKilroy
quote:
If you can live on "only" 10 million per year from interest and have the restraint to not ever dip into the principal, then the money will literally never run out.
It gets super lucrative if you can live on only half of the interest. Reinvesting the rest is where you really make the money grow. Plus, you can't simply live on $10M/yr for the rest of your life - with 3% inflation that will be the equivalent of slightly less than $3M in 40 years. That is basically poverty.
This post was edited on 1/12/16 at 7:54 pm
Posted on 1/12/16 at 8:29 pm to tiggerthetooth
But I want a yacht so goddamn bad
Posted on 1/12/16 at 8:36 pm to 13SaintTiger
Hope someone from this board wins it
Posted on 1/12/16 at 8:39 pm to Walt OReilly
If you got to pick the winner from this board, who would it be?
They can't know you chose them
They can't know you chose them
Posted on 1/12/16 at 8:42 pm to fightin tigers
I know a bunch of posters IRL that post here so I'd probably pick one of them. But someone just from this board that I've never met would probably be iluvdatiger. But I'd consider Lester, Paige, or Tino also.
You?
You?
This post was edited on 1/12/16 at 8:43 pm
Posted on 1/12/16 at 8:50 pm to stout
bitcoin you fools....bitcoin
This post was edited on 1/12/16 at 8:51 pm
Posted on 1/12/16 at 8:51 pm to UpToPar
I'm sorry but that amount of money I really don't see the need to invest.. There's absolutely no need.. You've already got the greatest return. And why pay people more of your money to invest for you..
Put some of it in savings if you like to invest.
Put some of it in savings if you like to invest.
Posted on 1/12/16 at 8:56 pm to Walt OReilly
I'd probably pick the SFP because I would like to see what he could really do if not restricted with earning a living.
Or glassman, that way nothing would change.
Or glassman, that way nothing would change.
This post was edited on 1/12/16 at 8:59 pm
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