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

[Jplaya2023]

according to this:

Compare the Top Savings Rates



the highest you can look to find on a straight savings account is 1% (1.05)


that's on some, no way possible to lose your money, type shyt


now there are a lot of accounts which will give you more... but you also will throw in the fact that you will lose more.... and the higher the risk, the higher the reward


for the record, 1% of 800 million is 8 million dollars


you could literally stick 800 million in the bank and live off 8 million a year.. that's why cuban said it's dumb to start investing... you got 800 million saved and could make another 8 million a year with no risk.... why would you be out here trying to double and triple your shyt and end up losing it

I would do exactly this then.

8 million a year is plenty!!!!!

In the 1st year, I'd buy my parents, and grand mother a house/car start to setup trust accounts with uncles and aunts, hire security body guards, and relocate.

the years after I would begin to setup cousins, close friends, donations, etc......

Everything I buy I would buy it outright, no renting or leasing or whatever.

 

[Poetical Poltergeist]

Best advice he gave imo, is the family and friends. BECAUSE they would definitely be out of the woodwork asking for tens of thousands if not 100 of thousands of dollars. Pay your loved ones out but fukk the rest. Cuz they will keep coming and coming. It would be hard.

And also, don't invest. I would throw the money in the bank and just live off it. If u can live off 45k a year u can live off 250k a year. And that's on the low end.

 

[lamont614]

Powerball lottery has reached a record high of $1.4 billion.


On Wednesday night, someone might win the jackpot and — even if they don’t actually take home $1.4 billion — become incredibly rich in a matter of moments.

Billionaire Mark Cuban has some idea of what that’s like.

Cuban recounted the moment he became a billionaire on an episode of James Altucher’s podcast: “I was sitting in front of a computer, naked, hitting the refresh because we were close — waiting until my net worth hit that billion when the stock price got to a certain point, and then I kinda screamed and jumped around and then got dressed."

Years later, what would he advise a newly minted multimillionaire or billionaire?

Business Insider reached out to Cuban to ask about his tips for potential lottery winners, and he shared the advice he gave his local paper, the Dallas Morning News:

• [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.

He also shared one last bonus tip with Business Insider: "Be nice. No one likes a mean billionaire. ”


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

Taking notes

 

[BamdaDon]

If I win everybody I fukk with getting a bag.

fukk that greedy only my life matters cac bullshyt.

 

[Kane1]

If I win everybody I fukk with getting a bag.

fukk that greedy only my life matters cac bullshyt.

you won't win .....with your mindset you would be broke with in 5 years.

 

[Shadow King]

according to this:

Compare the Top Savings Rates



the highest you can look to find on a straight savings account is 1% (1.05)


that's on some, no way possible to lose your money, type shyt


now there are a lot of accounts which will give you more... but you also will throw in the fact that you will lose more.... and the higher the risk, the higher the reward


for the record, 1% of 800 million is 8 million dollars


you could literally stick 800 million in the bank and live off 8 million a year.. that's why cuban said it's dumb to start investing... you got 800 million saved and could make another 8 million a year with no risk.... why would you be out here trying to double and triple your shyt and end up losing it

Isn't the point of a savings account to not touch your money for x number of years?

 

[BamdaDon]

you won't win .....with your mindset you would be broke with in 5 years.

nikka I'm not broke now pocket watching cac.

I make money not the other way around nikka.

 

[Originalman]

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

Exactly it is state money. You die the money goes away.

 

[The Devil's Advocate]

Isn't the point of a savings account to not touch your money for x number of years?

Yes and no.

Yes you save your money in there. Because you save and not spend, the limits on what you can do and can't do are different from checking. In exchange you get more back on your money

So you stick 800 in, you make 8 million a year. You take out that 8 to spend. And let the 800 stay to make another 8 for next year

You've got to be out here tripping to spend more than 8 every year. But if you do, that's still all profit and the original 800 is still untouched. In case you wanted to go nuts

Or you could pour a few million into some investment. And lose it. And still need money to spend. And you already touched the 800 and lost more, instead of living off interest.

 

[JLova]

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

Would take the lump sum in a heartbeat. If you are good with money, you should be OK.

I would invest a good chunk of money, stash an even bigger chunk and hook my friends and family up.

I'm not blowing 1 Billy. I'm good.

 

[Emoryal]

Put that shyt in the bank and live off interest. I might invest a cool milly from the first year.

 

[Shadow King]

Would take the lump sum in a heartbeat. If you are good with money, you should be OK.

I would invest a good chunk of money, stash an even bigger chunk and hook my friends and family up.

I'm not blowing 1 Billy. I'm good.

If the prize is a billion one could do that off the payments also.

 

[King Frost]

Savings accounts are a joke Average Savings Account Interest Rates for 2017: Compared Across Banks. You're actually losing money due to inflation. You should consult multiple law firms to discuss & implement asset protection, both onshore (usa) & off shore (Switzerland, Seychelles, Lichtenstein, Bahamas, Cyprus etc.)

 

[Kane1]

nikka I'm not broke now pocket watching cac.

I make money not the other way around nikka.

I hear ya tough guy


Jump all in your feelings over a few words breh

 

[Theyeboah]

Yall acting like its 10 or even a 100 million. fukk that I'm going on a year long spending spree of at least 100 million then worry about shyt. YOLO. Then worry about how I'm suppose to even spend 700+million dollars.