Billionaire entrepreneur Mark Cuban, owner of the Dallas Mavericks basketball franchise, is known for not mincing words.
He recently shared some surprisingly down-to-earth investment advice in an interview with Kitco news, talking about the investment he hates the most (gold) and his secrets to getting rich (pay off debt before investing in real estate or stocks). Here’s his comments:
“The best investment you can make is paying off your credit cards, paying off whatever debt you have,” he says. “If you have a student loan with a 7% interest rate, if you pay off that loan, you’re making 7%, that’s your immediate return, which is a lot safer than picking a stock, or trying to pick real estate, or whatever it may be.”