Advice on what to do with all that $ from a Cuban

[irratebass]

http://www.cnbc.com/2016/01/12/dallas-mavericks-owner-mark-cuban-has-advice-for-14b-powerball-jackpot-winner.html

[NSXCIGAR]

Good advice for the average Joe. For someone a little more savvy maybe not so much. But you can't go wrong with that advice.

[irratebass]

I have to agree, except the lump sum.....doubt I'll live another 30yrs, so can't bank on that.....get the cash and put it in savings.

[NSXCIGAR]

I have to agree, except the lump sum.....doubt I'll live another 30yrs, so can't bank on that.....get the cash and put it in savings.

I agree but remember, I think Cuban's advice was intended for the average Joe. Average Joe is much more likely to go MC Hammer and blow it or make foolish decisions/bad investments. The annuity basically serves as a self-destruct prevention device.

Then again, you can always get a early payout or sell the interest to the annuity to a company that buys them. I wonder if the early payout of the annuity would be more than the lump sum payout? Never considered that. Maybe it's better to take the annuity and sell it rather than take the lump sum from the lottery. Well, when I win I'll call my attorney and let you guys know.

[Fuzz]

Apparently, we Aussies can now join in on the fun and steal your mega jackpot.

[cigcars]

"Don't take the lump sum payment"? Yeah, right. Decide to collect for 30 years and then croak 7 months afterwards! No thanks, I'll take the lump sum. And I'd hope that I've matured enough through the years to not blow 89% on two or three high priced items. I'd tithe it first. Then help out family and close friends. And stick to buying REASONABLE priced items - an $89,000 to at most $120,000 home. I don't need a $35 million dollar house, doggone it! Or a million dollar Bughatti Veygron instead of just a regular - oh, Lexus or something. Look at me - spending that money and I'm not even playing it!!!

[irratebass]

Apparently, we Aussies can now join in on the fun and steal your mega jackpot.

Bastids!!!

[Lotusguy]

"Don't take the lump sum payment"? Yeah, right. Decide to collect for 30 years and then croak 7 months afterwards! No thanks, I'll take the lump sum. And I'd hope that I've matured enough through the years to not blow 89% on two or three high priced items. I'd tithe it first. Then help out family and close friends. And stick to buying REASONABLE priced items - an $89,000 to at most $120,000 home. I don't need a $35 million dollar house, doggone it! Or a million dollar Bughatti Veygron instead of just a regular - oh, Lexus or something. Look at me - spending that money and I'm not even playing it!!!

Where can you get a house for $100k???

[irratebass]

Where can you get a house for $100k???

[cigcars]

Where can you get a house for $100k???

This is the gateway to the South, and homes here in the nicer parts of town are between $89,000 to $120,000. If one really wants to splurge they'll go into "fancy" areas where the homes are above $220,000. My needs are not for a 30 room, 20 bath, etc., etc., etc. size house, thank you.

[Lotusguy]

This is the gateway to the South, and homes here in the nicer parts of town are between $89,000 to $120,000. If one really wants to splurge they'll go into "fancy" areas where the homes are above $220,000. My needs are not for a 30 room, 20 bath, etc., etc., etc. size house, thank you.

Thanks - it was a genuine question. Even in other areas of the US that I have traveled to, $100k didn't get you much. In my home area that's two years worth of rent