Money: Mark Cuban advice for whoever wins the $1.4 billion Powerball lottery

[mrbillcollecta]

Cuban can talk that shit because he's already rich. Im about to make 15 new millionaires off top. After my people are cool then I'll start to secure the next 8 generations of my family. Solid advice though. Ill take the lump sum. Only a fool wouldn't.

 

[Owes]

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.

this

 

[DirtyCake]

Don't take the lump sum???? Foh

I stopped reading right there.

 

[BitchI'llKillYa]

One way to look at it..................

That's Oprah Money

On the same level

3.1 billion

 

[nibbs]

Don't take the lump sum???? Foh

Most individuals who have no experience in business or a familiarity with wealth, receive this windfall of money and with no relative sense for the value of money or how quickly purchases and helping others can burn through your assets, and find themselves on the wrong end of a Chap 11 filing.

An annuity gives the winner sensible spending control limits while allowing them not blow the entire stack for at least 20 years - as is the case with many lottery winners and athletes.

 

[kes1111]

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• 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.​
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[playahaitian]

preach

 

[letsshoot]

Im gonna rent Maliah pussy and phat ass for a month everything goes!!!!

 

[keone]

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.

This is the most important. I hear people talk about opening businesses when they win the lottery. That's one of the most stupid things you can ever do, unless you win very little money and you still need to make a living.

was about to say this. i never understood that you have to invest. shit dont get me wrong i would personally invest a lil bit just to have something to do. but i will damn sure keep around FUCK YOU MONEY

 

[TooTrilla]

I could use some of dude's advice. But someone that earned their billions over the years in business and grinding up can't tell someone who got it all in one day what to do. I'm sorry.
And to each his own. But I would try to start some super business just to see if I could turn that shit into billions. Why the fuck not?????? Burn like 10 mil and see what I could get going with it.
Nothing to loose

 

[ScottyPiffen745]

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.

Big co-sign on this. Because everybody swears they got all kinds of million dollar ideas, and that all they need is a million dollars.

Take that lump sum and invest in a bunch of bullshit if you want to. Fuck around and find out that you'll never see that money again.

Take the damn annuity. Over 30 mil a year, each year for 30 years? If you're spending more than 30 mil a year, you fucking up anyway.

 

[Philli]

Maybe I am an idiot but if I won the Cash value at $935 Million... I am literally giving $100 million away. I am making at least my responsible friends and family millionaires. I am giving back to my school. I am setting up scholarships... there is so much I can do with that give away money and still have over $800 Million sitting. That is more money than I could spend in about 10 lifetimes.

 

[D-TOWN REP]

Fuck Mark Cuban

And fuck anyone who says money ain't happiness bitch it would be for me cuz I'm quitting my job on the spot and would never have to do shit ever again but what I wanted to do

That's happiness

 

[Llano]

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.

This is the most important. I hear people talk about opening businesses when they win the lottery. That's one of the most stupid things you can ever do, unless you win very little money and you still need to make a living.

You're right, with that much money you can sit on your ass for the rest of your life and not have to do anything.... But the hustler in me would be itching to do something with that money. I would probably take 15 percent (and only 15%) of that money and buy up some land and commercial properties. I'd use some of that money towards creating a technology firm too. If I lose all that 15 percent in those investments, I'll throw in the towel. I'll still have over 700 million under my pillow..

 

[godofwine]

Don't take the lump sum???? Foh

Exactly. I'm taking the lump sum. I can live off the interest and I'm wise enough not to let it burn a hole in my pocket

 

[godofwine]

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.

This is the most important. I hear people talk about opening businesses when they win the lottery. That's one of the most stupid things you can ever do, unless you win very little money and you still need to make a living.

I'm opening businesses in the black community, and the poor community. I'm running out the Arabs and maybe the Asians too. I'm hoping that these businesses will be self-sustaining. I'm not trying to get rich off the community, I'm trying to help the community

 

[DaAssWatcher]

Yall niggaz reaching with those annuity numbers.You not getting 30 or 40 million a year for 29 years. It starts in increments like 15 mill 1st year
20 mill 5th year
30 mill 13th year
40 mill 19th year
And so on.
You get a check every year but not 30 or 40 mill off top.The closer to 30 year final payment the bigger the check.

 

[cnc]

What I know is that my shit has to be in paper currency or coins somewhere ultra secure, enough that I can a) live on it the rest of my life if someone hacks into the worlds banks and raids my loot and b) touch and feel it. We're talking like $10 million cash or so; be swimming in my shit like:

 

[Soufboy]

Sounds good but you can't bet one future earnings with the lotto who's to say they can't make future payments to you anymore?

Take the lump sum you get your money up front and don't have to pay taxes on it ever again and if your really savvy you would take the lions share of it and put the Prinicipal in a family trust where it is to pay you quarterly of the interest it generates.. That shit will last generations for your family

Exactly, I don't trust the lottery to keep their word that long. Financial shit happens and they can't pay you back, have to reduce your payments, etc etc. I want all my money up front and I'll invest it/save it how I want and make the money back I lost knowing I got money in my hand. Cuban was wrong on that. What if somebody told him part of his deal was that he'd get a little bit of his shares/money over time and he'd have to trust the company to keep paying him.... Bet he wouldn't like that.

A bird in the hand is worth two in the bush...

 

[Mixd]

If you're a fool that is apt to lose money then get the annuity.

I don't know how someone thinks that 40m this year has the same value as 40m thirty years from now. Your money is losing value because of inflation and the value of a dollar thirty years later and over the course of the years.

I will be taking all of my lump sum. For my friends and family, I will be having them in solid investments thoroughly reviewed by a financial team. Like why not have a family member own an apartment complex where there is a management company to control it and they oversee and collect checks, paying me back over time.

I plan to do this with many while I partially get the return from profits. Sort of like a low interest rate loan, maybe 3%. I will take the money I get back from all these businesses and help others in their business ventures. Over time they can pay me off and outright own the biz.

That's my plan over time if I get a windfall. I can't do anything with all that money, but if I can help many others lives with it, I'd be content, I don't need a thank you, just ask that those I help to help someone else in need.

Pay It Forward...

 

[dHustla]

I'd be the only smart one to take the annuity. $40 mil a year for 29 years, is plenty to fcuk with and make all kinds of business maneuvers. You should get a good amount of credit to go along so if you need a huge loan on something, that should be no problem too. Lump sum is dumb way out.

This is what people not understanding!

The difference in the standard of living & quality of life between $43MM & $500MM isn't much at all when you think about it.

It becomes a security issue. Not the kind of security like safety, but the trust kind.

People that don't trust anything want to actually physically clutch the money (or get as close to it as possible), but when you don't fear and are able to trust a little...you are willing to forego grabbing all the dollar bills and just trust that it'll be there when you need/want it.

To all the lump sum people, answer me this:
What you gon do with $500MM that you can't do with $43MM?

NOTHING RESPONSIBLE!

 

[dHustla]

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.

This is the most important. I hear people talk about opening businesses when they win the lottery. That's one of the most stupid things you can ever do, unless you win very little money and you still need to make a living.

I would seriously go back to school.

 

[shaddyvillethug]

I would seriously go back to school.

Ima buy Mexico

 

[luukim]

I would seriously go back to school.

what will you study?

 

[Mr.Chuckles]

Ima buy Mexico

Buy El chapo freedom

 

[jack walsh13]

Good advice for some old crakka in Iowa who's gonna win it Wednesday night.

 

[BitchI'llKillYa]

Ima buy Mexico

Richest man in the world is Mexican...
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

Carlos Slim Helú
US$74 billion


Carlos Slim Helú is once again the world's richest person, thanks in large part to a sharp increase in telecom giant América Móvil's share price both in U.S. and Mexican markets. Slim bumped Microsoft (NYSE:MSFT) cofounder Bill Gates from his perch as the world's richest, a post Gates has held since May 2013.

 

[kwazdog]

Yeah, I'm living off the interest of the lump..

 

[BrownTurd]

I could use some of dude's advice. But someone that earned their billions over the years in business and grinding up can't tell someone who got it all in one day what to do. I'm sorry.
And to each his own. But I would try to start some super business just to see if I could turn that shit into billions. Why the fuck not?????? Burn like 10 mil and see what I could get going with it.
Nothing to loose

Nothing to lose? You would have just lost 10 million

 

[PDQ21]

Great advice but could go either way whether to take the lump sum or not

 

[PDQ21]

Fuck Mark Cuban

And fuck anyone who says money ain't happiness bitch it would be for me cuz I'm quitting my job on the spot and would never have to do shit ever again but what I wanted to do

That's happiness

Alot of ppl found out that's but the case

 

[BrownTurd]

If you're a fool that is apt to lose money then get the annuity.

I don't know how someone thinks that 40m this year has the same value as 40m thirty years from now. Your money is losing value because of inflation and the value of a dollar thirty years later and over the course of the years.

I will be taking all of my lump sum. For my friends and family, I will be having them in solid investments thoroughly reviewed by a financial team. Like why not have a family member own an apartment complex where there is a management company to control it and they oversee and collect checks, paying me back over time.

I plan to do this with many while I partially get the return from profits. Sort of like a low interest rate loan, maybe 3%. I will take the money I get back from all these businesses and help others in their business ventures. Over time they can pay me off and outright own the biz.

That's my plan over time if I get a windfall. I can't do anything with all that money, but if I can help many others lives with it, I'd be content, I don't need a thank you, just ask that those I help to help someone else in need.

Pay It Forward...

Whether you take the lump some or annuity inflation will be the same. When you take the lump sum you are leaving about 400 million on the table.

Also if you were never into investing why would you? There would be no need to buy businesses.

 

[dawilleyone]

I've seen some charts that show the return a basic investment over 30 years vs getting lump sum. Basically it shows that as long as your rate of return is 7% or less the annuity is a better option (i.e more money at the end of 30 years). If you can get a consistent rate of return of 8% or better the lump sum is better option as long as you invest damn near all of it right away.

But of course you gonna want some walking around money so lets say you take a milli out each year on your annuity or 30 million out of your lump sum for spending change. Then the numbers become even more attractive for the annuity because 30 million out of that lump sum slows your growth even more.

The other advantage of the annuity is flexibility. If you take the lump sum and fuck it up within the first 5 years well that's that. On the other hand your risk is limited with the annuity in that even if you lose 5 years worth of payments you still got money coming in. In other words you got time to Learn from your mistakes without losing a significant part of your money. Also, you can always find someone to cash in your annuity after 5,10,15 years after you win if you really feel like you need to buy a castle somewhere. Lump sum is one shot.

I think if you are 45 years or younger and have some sense of money matters the annuity is the way to go.

 

[jagu]

I'm opening businesses in the black community, and the poor community. I'm running out the Arabs and maybe the Asians too. I'm hoping that these businesses will be self-sustaining. I'm not trying to get rich off the community, I'm trying to help the community

If you're not doing everything to do that now, what makes you think you'll have the drive to do so when you're rich and got many more things to do. One thing that you guys fail to realize is that it takes personal attention for businesses to succeed. You just can't pay managers to do it for you and hope all goes well, unless it's a well known franchise.
As a rich man You may run your little start up business for 2 months and then the frustration will make you stop. Understand that, You will have a low tolerance for bullshit , as a rich man.

 

[jagu]

Whether you take the lump some or annuity inflation will be the same. When you take the lump sum you are leaving about 400 million on the table.

Also if you were never into investing why would you? There would be no need to buy businesses.

You're really not " leaving all that money on the table ". All you have to do is put it in a low risk investment account and you will make the money back. Present value of money versus future value of money..
There is also no guaranty that the lottery will continue paying you. It can be outlawed , etc.