Advice From a Shark If You Win The Powerball
Dallas Mavericks owner Mark Cuban has offered his advice to the person who wins the $1.4 billion Powerball jackpot this week.
Mark knows what it is like to become incredible wealthy and I found his tips for you (cause I know you plan to win) on the Dallas Morning News which aren't completely in line with advice found on CNBC here are his tips in a nutshell:
-Hire a tax attorney first.
-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 dollars for anything.
-Don’t make investments. Put it in the bank and live comfortably. Forever.
My advice is, either way just have some kind of a plan and look closely to the things they both agree on. Just so you know...The one or ones with lucky tickets won’t be billionaire rich; an upfront payout and taxes would cuts that down to only $651 million or maybe a little less.