Mark Cuban’s Six Pieces of Advice If You Win the Powerball
The Powerball drawing is tonight at 9:59pm. The prize is now up to $1.5 billion and it'll probably jump even higher over the course of the day. That means the lump sum should also cross the $1 billion mark, which is crazy.
So what do you do if you win? I mean, when you win. Here are six pieces of advice from Mark Cuban. After all, he became a billionaire the old fashioned way. You know, by tricking the suckers at Yahoo into giving him a fortune.
- Hire a tax attorney first.
- Don't take the lump sum, so you don't blow it all.
- If you weren't happy yesterday, winning won't make you happy tomorrow.
- If you were happy yesterday, winning will make you very happy tomorrow. You'll enjoy a life where you don't have to worry about bills.
- Tell all of your friends and family "no" when they ask for money. No exceptions. If you help someone, it should be someone you're close enough to that you knew about their financial issues before you won. And no one needs $1 million for anything.
- Winning the lottery doesn't make you a smart investor, so don't make investments. Just put the money in the bank and live comfortably forever.
Read more at The Dallas Morning News.