Here's Mark Cuban's advice for whoever wins the $1.4 billion Powerball lottery

[CarbonBraddock]

Some winners set up a Trust, and let the Executor of the Trust collect the winnings. You will never have to show your face, you will just send a lawyer.

And I recommend, buy apartment buildings, and when people ask for money, offer them to live there rent free.

Its as good as giving them cash, since they don't have to pay rent.

this is why i said my family wouldn't know i had the money. wouldn't buy apartments bc i wouldn't be needing money. and i've seen how stressful it can be to own them, though you could hire someone to manage it, but again, that assumes you need or want that income to begin with.

 

[the artist known az]

Then I would just take the lump sum, tomorrow's not guaranteed...

No, they will give it to an heir...I think they even let you name beneficiaries

 

[CarbonBraddock]

someone should calculate how long it would take the winnings to become a billion dollars if it's invested or put into a savings account. after taxes though because you aren't getting a billion if you win.

 

[The Emperor]

my family wouldn't even know i won that shyt. would probably just put the shyt in the bank and live off of 40k or less per year after buying a couple of things.

No you wouldn't you are a billionaire not a millionaire

 

[newworldafro]

Some winners set up a Trust, and let the Executor of the Trust collect the winnings. You will never have to show your face, you will just send a lawyer.

And I recommend, buy apartment buildings, and when people ask for money, offer them to live there rent free.

Its as good as giving them cash, since they don't have to pay rent.

I heard the thing to do os to set up people to run fairly basic business like an apt complex...not a slumlord, but something is always generating income.

 

[So-Chi]

Some winners set up a Trust, and let the Executor of the Trust collect the winnings. You will never have to show your face, you will just send a lawyer.

And I recommend, buy apartment buildings, and when people ask for money, offer them to live there rent free.

Its as good as giving them cash, since they don't have to pay rent.

But you have to pay taxes on the buildings. Makes more sense to start a business and offer them a job with a bump in salary. You'll save over the long gone run most likely, while the business hopefully makes money. We all know they'd never move from rent free, shyt people wait YEARS for section 8.

 

[-DMP-]

I wouldn't take the annuities b/c theres no way to predict the tax rate in the future.

And as for investing, you don't need to do much with that much money. hell a crappy wells fargo .01% savings acct would have you set for life.

keep it simple, index funds and savings accts for me. and maybe a passion project.

Having 500 mill liquid is not the same as being worth 500 mill, its liquid and its going to make money.

 

[Knuckles Red]

Wow, I wonder what that would feel like that night after you've won? When you lay your head on your pillow knowing your life is about to change forever. I hate thinking about what I would do with all that money because I quickly come back to reality and remember I haven't won shyt...

 

[Mowgli]

I wish I saw my bank statement like that...

You shouldnt. You should have multiple accounts in multiple banks. I say in increments of 10-20 million. Don't put all your eggs on one basket

 

[the cac mamba]

Telling winners not to take the lump sum...terrible advice....governments are going broke...They are stopping Cost of Living increases on Social Security......you think they won't hit you with an IOU or a SOL, when SHTF

right tell that to the motherfukkers in iowa or whatever who cant collect

worst advice ever

 

[the cac mamba]

He's stupid you can always just put the lump sum in the bank and chill the fukk out...

absolutely insane to me to let some other entity string you along for 20 years

 

[The_Sheff]

my family wouldn't even know i won that shyt. would probably just put the shyt in the bank and live off of 40k or less per year after buying a couple of things.

Bruh its 2016, everyone will know who won. In a lot of states that run powerball the winners name and location becomes public record, the trust loophole doesnt work. They know when and where the winning ticket was sold so all anyone with enough time has to do is run the camera back at the place you bought the ticket to find you. Then if that doesnt work, who is gonna collect the money for you? The lawyer you deal with will know, and whats stopping him or his assistant from leaking your name somewhere on the internet?

Or even easier, you dont think someone will notice you no longer work, have a new car or house, and just do random shyt during the day...........every day?

 

[the artist known az]

Bruh its 2016, everyone will know who won. In a lot of states that run powerball the winners name and location becomes public record, the trust loophole doesnt work. They know when and where the winning ticket was sold so all anyone with enough time has to do is run the camera back at the place you bought the ticket to find you. Then if that doesnt work, who is gonna collect the money for you? The lawyer you deal with will know, and whats stopping him or his assistant from leaking your name somewhere on the internet?

Or even easier, you dont think someone will notice you no longer work, have a new car or house, and just do random shyt during the day...........every day?

Confidentiality agreement when you hire him as your agent

 

[ORDER_66]

You shouldnt. You should have multiple accounts in multiple banks. I say in increments of 10-20 million. Don't put all your eggs on one basket

Of course, I would split the money up in different ways. why let it sit in one bank???

 

[GunRanger]

I heard you take the lump sum because if death happens they stop paying you.

First, while people associate the term “annuity” with payment streams that end when you die, the Powerball prize is actually what actuaries call an annuity certain: a stream of annual payments, every year from now until 2045, regardless of what happens to you. If you die before 2045, the future payments become part of your estate, like any other asset.

http://www.nytimes.com/2016/01/13/u...ake-our-advice-and-take-the-annuity.html?_r=0