- ๐ Invest 10% of Your Savings in High-Risk Ventures
Cuban suggests allocating up to 10% of your savings to high-risk investments like Bitcoin, Ethereum, or startup capital.
- โ ๏ธ The "Hail Mary" Approach
Treat these investments as if the money is already gone. Itโs a risky gamble with the potential for high rewards, similar to collecting art or rare items.
- ๐ฏ Why Take the Risk?
For those with a solid financial base, these ventures offer a chance for big returns. But always keep your financial stability intact.
- ๐ Explore Other High-Risk Investments:
- Startup Capital: Invest in new businesses or side hustles.
- Riskier Stocks: Small or micro-cap stocks with potential high returns.
- Real Estate Crowdfunding: Invest in real estate projects via online platforms.
- Venture Capital Funds: Back startups or early-stage companies.
- ๐ Cuban's Complete 9 Rules to Get Rich:
1. Live Like a Student.
2. Donโt Use Credit Cards.
3. Save Six Monthsโ Worth of Income.
4. Put Savings Into SPX Mutual Funds.
5. Invest up to 10% in High-Risk Investments.
6. Buy Consumables in Bulk and on Sale.
7. Negotiate Using Cash.
8. Read Books.
- ๐ก Final Thought:
High-risk investments can spice up your portfolio, but Cuban advises to keep your financial foundation strong. Consult a financial advisor if you're unsure how to proceed.