5 Mark Cuban Quotes Every Retiree Should Live By

Editor's note: This article is part of an ongoing series featuring the best retirement quotes and wisdom from top financial experts, leaders, and public figures. Other articles feature Warren Buffett and Michael Jordan.

Mark Cuban is known for taking risks. After all, he is a billionaire investor, businessman, and Shark Tank alum. But when it comes to his approach to saving, investing and retirement, he’s quite the contrarian.

Cuban has long espoused the benefits of saving aggressively, investing only in things you understand, and keeping costs down.

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Those are just some of the philosophies Cuban lives by, and ones pre-retirees and retirees can benefit from. Read on to learn some more.

5 Mark Cuban Quotes to Live By

1. “The most valuable asset you can ever have is time.”
-Venture Voice Podcast, October 2020

Time is finite. No matter how much money you have, you will ultimately run out of time, which is why Cuban puts so much value on it.

For people nearing retirement, planning how you’ll spend your time should be a top priority. Time comes into play when deciding when you’ll retire and the type of retirement you’ll have.

Will you choose a phased retirement where some of your time is still spent working, or will work end the day you sign off? If the latter, what will you do with your free time?

2. ”Why invest your money in something because a broker told you to? If the broker had a clue, he/she wouldn’t be a broker, they would be on a beach somewhere.”
-Young Money Magazine, April 2004

Cuban is advising that you can’t blindly take the financial advice of someone without understanding what they are saying. Even if it's your trusted financial adviser, don’t be afraid to ask questions before making any financial decisions.

Some financial products designed for retirees can be complex and challenging to understand. Annuities are one example. With an annuity, you receive a guaranteed income; however, it comes with rules, fees, lock-up periods, and penalties associated with it. Additionally, there are various types of annuities, which can make it difficult to choose the right one.

3. “Saving money and putting some into a low-cost mutual fund…and living as inexpensively as you possibly can, will pay off dividends.”
-Money, August 2017

We spend our working years amassing savings for retirement and are told it's ok to be aggressive, after all, we have decades to recoup any losses. But once we get closer to the end goal, preservation is the name of the game.

That doesn’t mean going all cash or getting super conservative (retirement can easily last twenty years or longer), but it does mean you don’t have to chase the latest cryptocurrency or a trending high-growth stock.

It also doesn't mean you can't spend money in retirement. But it does mean you should stick to a budget. If you need help with spending strategies, check out some of our retirement spending rules, including 'Pay Yourself', ‘Me-First’, ‘Retirement Bucket’, and the ‘Permission-to-Spend’ rule.

4. “The greatest rate of return you will earn is on your own personal spending. Being a smart shopper is the first step to getting rich.”
-How to Get Rich Blog, October 2008

What Cuban means in this quote is that the return you get from shopping smart and saving money on your own purchases will typically outperform the returns you get from investing.

If you save $100 shopping, that’s guaranteed to increase your worth by $100. By adopting efficient spending habits, you’ll see a reliable boost to your financial health.

The idea is to use your money intentionally and to get the best price when making purchases, whether a car or an ETF. That’s particularly true for retirees who are on a fixed budget.

5. “I'm just getting started. There's no retirement in my book. I'll go until I drop.”
-CNBC interview, September 2024

Cuban may want to work forever, but that’s not for everyone. The point is, it's his choice, and yours too.

With the right planning and barring unexpected illnesses or layoffs, you can define what retirement looks like. Some people can’t wait to retire and start the next chapter; others don’t ever want to stop doing what they love. Neither is wrong; either way, it's a choice that has to be planned for.

Learning from Cuban

There is no one-size-fits-all retirement plan. Cuban may want to work forever, but you may not. While individual financial goals and timelines for retirement are personal, the underlying principles of sound money management remain universal.

Understanding the value of time, the importance of saving and the power of knowledge are lessons we can all learn.

Donna Fuscaldo is the retirement writer at Kiplinger.com. A writer and editor focused on retirement savings, planning, travel and lifestyle, Donna brings over two decades of experience working with publications including AARP, The Wall Street Journal, Forbes, Investopedia and HerMoney.