POWERFUL FINANCIAL TIPS FROM THE MOUTH OF MARK CUBAN
5. Invest up to 10% of your savings in high-risk investments: Investing up to 10% of your savings in cryptocurrency or other high-risk ventures is okay. Do not expect a return on this investment, though. It’s better to assume it’s already gone than to expect you’ll strike it big. 6. Buy consumables in bulk and on sale: You are going to use products like toothpaste, toilet paper, and soap daily. Buy as much as you can whenever these items go on sale so you don’t need to buy them at full price in the future. 7. Negotiate using cash: Most people don’t mind selling their products or services for less if they know they’ll get cash immediately. 8. Read books: There’s always something new to learn that can help you become more profitable or financially aware. Read books to inspire yourself.
Mark Cuban is one of the most well-known American businessmen of the past 20 years. He’s one of the stars of “Shark Tank,” owns the Dallas Mavericks, and has his hands in various other profitable ventures. Cuban is not shy about sharing the secrets to his success. Here you’ll find nine of his most valuable pieces of financial advice. 1. Live like a student: When you were a student, you probably wanted to buy a lot of stuff but couldn’t afford it. Now that you’re an adult with money to spend, don’t waste it on things you don’t really need. 2. You shouldn’t use credit cards: Credit cards can be dangerous, as the ill use of one can quickly send you into debt. 3. Save six months’ worth of income: How long could you live off your savings if you lost your job today? The future is unpredictable, so it’s essential to create a safety net if the unexpected were to happen.
4. Put savings into an SPX mutual fund: You want to keep your money where it will grow on its own. Investing in the S&P 500 will keep your money safe while bringing in additional interest. 9. Being nice earns a positive response: People respond better to kindness than anything else. Be friendly to those around you, and you’ll be rewarded. Client Story: Curtis Guinn
Our friend, Curtis Guinn, is someone I’ve admired from the first time we met, nearly 10 years ago. Curtis came to us after his second serious work injury, the first one 19 years before that. Curtis is one of the hardest working men I know, and not one to give up. Working since age 13, Curtis’ family moved from Wilmington to Columbus at age 14. While attending Central High School, he would play sports during the school year and work evenings and during the summer. When he was 18, his summer job was at DCSC in Columbus, working alongside a good friend. Curtis asked his friend if he knew of any nice gals he could introduce Curtis to. His friend smiled and said, “I know someone.” The “someone” was a young lady whose family had moved to Ohio from Marion, AL when she was only 6 years old. The mutual friend was a good judge of character (and an excellent matchmaker!) as Curtis and Edna got along swimmingly. They’ve now been married 48 years. Curtis started in Building Services as a Team Lead at State Teachers Retirement System in 1989. In 1994, he stumbled coming down stairs, twisting
his left leg. Two surgeries were ultimately followed by a total knee replacement, with Curtis returning to work after each procedure. After their kiddos were old enough to move out, and Curtis and Edna became empty nesters, Curtis got bored. So, he took a second full- time job with the city of Columbus in 2006! He worked 80 hours per week until his second injury in 2013 when he hurt his back pushing a dumpster. The first injury, requiring three surgeries, was minor by comparison. With the back injury, Curtis has undergone more than a dozen operative procedures, several involving spinal cord stimulators, and a couple attempts at vocational rehab (the BWC concluded it wasn’t possible). Throughout all this, I’ve never known Curtis to lose his temper. He’s calm, soft-spoken, and measures his words with care. His eyes got wide, though, when we went to his recent permanent total disability hearing as I brought all his files with me (well, all I could carry, I told him) and he said, “Arnold Schwarzenegger would have trouble carrying all that!” (Spoiler alert: I am built more like Santa Claus than I am the Terminator).
Curtis and Edna Guinn
We helped provide some help with Curtis and Edna’s financial peace as the Industrial Commission agreed with us that Curtis’ injuries are work-prohibitive, so he merits ongoing disability. Curtis still keeps on, best he can. He goes to the YMCA faithfully to ride the stationary bike. Fishing also gives him a sense of peace, and his church family and Bible study provide encouragement. I’m inspired by Curtis and Edna and am glad to introduce you to them.
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