Smart investing advice from ‘Shark Tank’ star Mark Cuban.
Mark Cuban once drove around a real hunk of junk — seriously. The billionaire Dallas Mavericks owner says the best pieces of investing advice he got when young was to be as poor as possible first.
The “Shark Tank” star these days doles out a lot of advice to young entrepreneurs on CNBC CMCSA, -0.27% but he says it doesn’t take a million-dollar idea to become rich.
In fact, Cuban argues, anyone can be a millionaire if they have the right mind-set. It just takes time and frugality.
“When I was getting started, I used to read this book, ‘How to Retire at 35’,” Cuban told Money magazine.
The 1988 tome advised readers to save aggressively in order to gain financial independence.
“The whole premise of the book was that if you could save up $1 million and live like a student, you could retire,” Cuban said.