Mark Cuban's 9 rules for getting rich, and why three of them are bullshit.
++ THREAD ++
++ THREAD ++
Rule 1: Live like a student (✅)
Students are forced to live frugally.
- no *new* cars
- no pricey vacations
- no yearly phone upgrades
Live like every dollar counts.
Students are forced to live frugally.
- no *new* cars
- no pricey vacations
- no yearly phone upgrades
Live like every dollar counts.
Rule 2: You shouldn't use credit cards (❌)
Hard disagree.
Yes, irresponsible spending on credit WILL create debt.
But, using credit cards in a smart way is one of the *best money hacks* in existence.
Hard disagree.
Yes, irresponsible spending on credit WILL create debt.
But, using credit cards in a smart way is one of the *best money hacks* in existence.
https://twitter.com/SteveOnSpeed/status/1269841894865088513
Rule 3: Save 6-months income (✅)
A 6-month emergency fund is critical, if:
▫ you get fired
▫ you need to move
▫ your roof springs a leak
Emergency funds will keep you out of debt.
They also make you more risk-tolerant.
A 6-month emergency fund is critical, if:
▫ you get fired
▫ you need to move
▫ your roof springs a leak
Emergency funds will keep you out of debt.
They also make you more risk-tolerant.
Rule 4: Put savings into SPX (S&P 500) mutual fund (❌)
Somewhat disagree.
This is a good solution if you are more risk-tolerant.
You would hate to lose your emergency savings in a down market.
Keep your e-fund SAFE.
Somewhat disagree.
This is a good solution if you are more risk-tolerant.
You would hate to lose your emergency savings in a down market.
Keep your e-fund SAFE.
Rule 5: Invest up to 10% in high-risk investments, like Bitcoin, art, etc (❌)
10% is too high.
I don't care what crypto bros think, Bitcoin is high risk.
Keep it LESS than 10%.
We have 1% of our net worth in Bitcoin. If we lose it, WE DON'T CARE.
10% is too high.
I don't care what crypto bros think, Bitcoin is high risk.
Keep it LESS than 10%.
We have 1% of our net worth in Bitcoin. If we lose it, WE DON'T CARE.
Rule 6: Buy consumables in bulk & on sale (✅)
Buy things like toothpaste, toilet paper, cleaners, canned goods, etc in bulk when they are on sale.
Buy two year's worth during a 50% off sale.
Money in your pocket.
Buy things like toothpaste, toilet paper, cleaners, canned goods, etc in bulk when they are on sale.
Buy two year's worth during a 50% off sale.
Money in your pocket.
Rule 7: Negotiate using cash (✅)
You're more likely to get a deal when you offer cold hard cash.
After all, cash is something that's hard to say no to.
Negotiate by offering less. In cash.
You're more likely to get a deal when you offer cold hard cash.
After all, cash is something that's hard to say no to.
Negotiate by offering less. In cash.
Rule 8: Read books (✅)
Books give you ideas. Turn that idea into a profitable side hustle or to help your business.
Spending $30 to get just a single money-making idea is a bargain.
Books give you ideas. Turn that idea into a profitable side hustle or to help your business.
Spending $30 to get just a single money-making idea is a bargain.
Rule 9: Be nice (✅)
People want to associate with nice people. People who are empathetic. Those who care.
So, be nice. Smile often.
Money is attracted to those who smile. I've seen this throughout my career.
People want to associate with nice people. People who are empathetic. Those who care.
So, be nice. Smile often.
Money is attracted to those who smile. I've seen this throughout my career.
If you like this thread, help me out by retweeting the first tweet.
You won't get rich by retweeting, but the karma you'll feel will be amazing.
You won't get rich by retweeting, but the karma you'll feel will be amazing.
Join thousands of people in my 5-week Bootcamp that will teach you everything school *should have taught* about money and success.
steveadcock.us/relearn/
steveadcock.us/relearn/
• • •
Missing some Tweet in this thread? You can try to
force a refresh
