Tags: mark cuban | lottery | winners | invest | bank

Mark Cuban to Lottery Winners: Don't Invest the Money

man holding five big white bags with dollar sign on them
(Dennis Thompson/Dreamstime)

By    |   Tuesday, 30 October 2018 07:54 AM

With all of the recent jaw-dropping lottery jackpots, your mind wanders when you dream about that you may do with such a huge pile of instant cash.

Mark Cuban, self-made billionaire and star of ABC's "Shark Tank," offers some advice that, to some, may go against conventional wisdom: Put the money in the bank and don’t invest your instant fortune.

"You don't become a smart investor when you win the lottery," CNBC cited Cuban as saying.

"Don't make investments. You can put it in the bank and live comfortably. Forever," Cuban told the Dallas Morning News.

While it might be tempting to try and multiply your earnings, "you will sleep a lot better knowing you won't lose money," Cuban says.

And while you could double your fortune with the right investment, you also could lose it all by sinking your cash into the wrong bad idea.

Cuban also advises to take the annuity plan instead of the lump sum: "You don't want to blow it all in one spot."

Meanwhile, two winning tickets were sold in Saturday night's Powerball drawing to win a $688 million jackpot, which marks the fourth-largest lottery grand prize ever in U.S. history.

© 2019 Newsmax Finance. All rights reserved.

   
1Like our page
2Share
StreetTalk
With all of the recent jaw-dropping lottery jackpots, your mind wanders when you dream about that you may do with such a huge pile of instant cash.
mark cuban, lottery, winners, invest, bank
197
2018-54-30
Tuesday, 30 October 2018 07:54 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved