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re: "Don't make investments"- Mark Cuban on advice to powerball winner
Posted on 1/12/16 at 1:47 pm to tke857
Posted on 1/12/16 at 1:47 pm to tke857
quote:Try $10,230,000 in interest
if you could put 930mil in one money market fund at 1.10% return you could easily live off the interest. Which is a little over a million a year just off of the interest.
0
Posted on 1/12/16 at 1:48 pm to Mo Jeaux
I mean yea, put it in the bank where you make interest of even 2% and we are talking about 15 million a year
You could spend $30 million a year and never run out of money likely (20+ year with lump sum plus $15 million in interest going down slowly as you outspend the interest)
You could spend $30 million a year and never run out of money likely (20+ year with lump sum plus $15 million in interest going down slowly as you outspend the interest)
Posted on 1/12/16 at 1:51 pm to brmark70816
not sure what the best route is but I would definitely invest. My dad is a Financial planner and a friend is also...I will worry about that problem when I win 
Posted on 1/12/16 at 1:56 pm to Bluefin
quote:
frick that. I'm buying the Milwaukee Bucks.
Bucks sold last year for more than the lump sum after taxes...
Posted on 1/12/16 at 1:56 pm to WG_Dawg
quote:
But ultimately, his overall point is correct as it relates to winning THAT MUCH money.
Precisely. There is a lot of truth in the idea that you only need to get rich once.
You don't need to turn $500M after tax into $1B to make ends meet, but you'd be sick to your stomach if you managed to turn $500M into $200M by being an idiot with investments.
Posted on 1/12/16 at 1:58 pm to 13SaintTiger
If I win $1.5B, I'll just call Mark Cuban on investment strategies.
Posted on 1/12/16 at 2:01 pm to Havoc
quote:
Whats the estimated annuity on that?
Over 29 years, it's $51mm annually before taxes.
Posted on 1/12/16 at 2:02 pm to slackster
I mean you shouldn't be trying to double your cash, but with 900 mln you can get a very handsome return with a diversified risk protected portfolio.
Posted on 1/12/16 at 2:03 pm to 13SaintTiger
I'm gonna blow it all on mansions and titties.
Posted on 1/12/16 at 2:03 pm to Bmath
I think the jackpot is high enough now that even total idiots would have to really try at it to go broke.
Back when it was only 250M after taxes you had people saying they'd blow/donate/give away like 20% of it on day 1. These are the people who go broke within a decade.
Back when it was only 250M after taxes you had people saying they'd blow/donate/give away like 20% of it on day 1. These are the people who go broke within a decade.
Posted on 1/12/16 at 2:04 pm to LSUBoo
quote:of course, but the majority of the population also believes they are excluded from his target audience.
I think that is solid advice for the majority of the population.
Posted on 1/12/16 at 2:06 pm to Bmath
quote:
Over 29 years, it's $51mm annually before taxes.
Plus you can always call JG Wentworth if you need cash now.
This post was edited on 1/12/16 at 2:07 pm
Posted on 1/12/16 at 2:06 pm to lsuwontonwrap
Just imagine all the cocaine and hookers you could buy with almost a billion dollars.
This post was edited on 1/12/16 at 2:07 pm
Posted on 1/12/16 at 2:07 pm to JohnnyKilroy
If Floyd Mayweather can keep on keepin' on with all of his stupid shite and bets AND being illiterate, I'm liking the average person's chances.
Posted on 1/12/16 at 2:09 pm to JohnnyKilroy
quote:
I think the jackpot is high enough now that even total idiots would have to really try at it to go broke.
Posted on 1/12/16 at 2:10 pm to Walking the Earth
quote:
If Floyd Mayweather can keep on keepin' on with all of his stupid shite and bets AND being illiterate, I'm liking the average person's chances.
I think Floyd is dumb as frick, but he probably has some pretty smart guys controlling a lot behind the scenes.
Also helps when he can "win" lottery level of money every year for a decade.
This post was edited on 1/12/16 at 2:11 pm
Posted on 1/12/16 at 2:13 pm to tke857
This post is awesome
Posted on 1/12/16 at 2:14 pm to JohnnyKilroy
Even if Floyd spends all of the money that he won he will always have his brand. He will be able to support himself off of appearances for pretty much the rest of his life.
Posted on 1/12/16 at 2:15 pm to LNCHBOX
quote:
For the type of people that seem to win these things, that's great advice.
It's odd that the same type of people that win these big lotteries are the ones that see UFOs and/or are abducted.
Posted on 1/12/16 at 2:16 pm to Peazey
Pretty much.
That's the difference from self made people like business men, movie stars/recording artists etc. and lotto winners.
They can do a ton of dumbshit with their money, but they still always (within reason) have ways of generating a ton of money.
Lotto winners win once and that's it.
ETA: For example, Floyd could spent every cent to his name, and one fight later he's back to around 9 figures.
That's the difference from self made people like business men, movie stars/recording artists etc. and lotto winners.
They can do a ton of dumbshit with their money, but they still always (within reason) have ways of generating a ton of money.
Lotto winners win once and that's it.
ETA: For example, Floyd could spent every cent to his name, and one fight later he's back to around 9 figures.
This post was edited on 1/12/16 at 2:19 pm
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