Here's Unusual Advice From Billionaires Mark Cuban, Donald Trump And Others To Aspiring Lottery Winners
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Mark Cuban's advice to lottery winners was straight to the point.
How would you react to winning a lottery fortune? Most people would say they could cope easily enough.
After all, what's so hard about spending a large sum of money?
Billionaire and Shark Tank investor Mark Cuban gives advice to lottery winners.
Billionaire Mark Cuban recently gave potential lottery winners some financial advice. He was joined onscreen with some of the investors starring in the reality tv series 'Shark Tank.' Watch the video below.
Robert Herjavec says "buy a Ferrari."
Kevin O'Leary told winners to diversify and not put it all in one basket.
Barbara Corcoran says everyone is going to come out of the woodwork...
Daymond John: Don't tell anybody for a long time.
Lori Greiner advised to stay calm and reflect on the win.
This video shows all the investor's full comments and sometimes wacky advice to lottery winners:
For another angle, here's a Business Insider interview where an anonymous winner had some wise advice:
"Try playing this game: "What would you do differently tomorrow if you suddenly had $X million?" for different values of X. I've played it with friends, and it's fascinating. Some people have all sorts of fantasies which aren't usually feasible for most values of X (and certainly not $5 million).
"After thinking about it a bit and playing a few rounds, many, including myself, eventually decide "not much". I'd still get up, eat the same breakfast, go to work, hang out with friends afterwards.
"The reality is, that in the US today (and most Western countries), $5 million is both an enormous thing, but also not very much at all. It puts you way (way) above the mean and median per capita income. But, it doesn't suddenly enter you into the high life portrayed in movies, TV, or celebrity magazines.
"...it's freedom from having to work and some nice vacations, but it's not a yacht, private jet, or mansion in every country.
#Beware of ennui. My 87-year-old, still-active dad likes to say: You have to have a reason to get up in the morning. Unless/until you have "a callling", keep a job you enjoy. Work is an important social outlet.
#Live below your means and be generous with those around you. It will make you happier than upgrading your lifestyle to match those with your net worth.
#Also be waryof 'just trying things once'since 'I can afford it now'. Some doors don't need to be opened."
There was more advice for winners from CBS legal analyst Jack Ford. And even Donald Trump had words to say to lottery winners.
Donald Trump gave advice to three groups of lottery winners as part of the TV show "It Could Happen To You." The Donald told them the best way to handle their wins. Watch. VIDEO: nbc news
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