Retirement Retirement Planning

Mark Cuban Says Near Retirees Should Always Do These 7 Things With Money

These financial tips could help you retire successfully.

By Catherine Collins , Edited by Laura Hohenstein

Updated Oct. 6, 2026

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Mark Cuban knows a thing or two about managing money. The billionaire investor and co-owner of the Dallas Mavericks has also invested in 85 companies as one of the stars of the hit TV show Shark Tank. He frequently gives financial advice through interviews and the media, helping people learn how to better manage their money.

Cuban has several pieces of advice for near retirees specifically. Those who want to retire soon with a solid nest egg need to have more than just a 401(k) retirement plan. Cuban says they also need a strategy and financial discipline. Here are a few top tips Cuban gives people nearing retirement age who want to know what to do with their money.

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Pay off high-interest debt first

Cuban says one of the best investments you can make is paying off high-interest debt. He explains that because credit card interest rates are so high, paying them off is an instant 20% (or more) return.

Paying off credit cards and avoiding high-interest debt can help people allocate more cash toward their retirement funds. Additionally, heading into retirement without any debt payments can bring great peace of mind.

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Build a six-month emergency fund to protect your investments

Cuban is also a major proponent of having an emergency fund. While some financial experts might recommend a 3-month emergency fund, Cuban recommends that people build a 6-month emergency fund. This is especially important for those nearing retirement because having an emergency fund can prevent you from withdrawing from your 401(k) during a market downturn.

He also says that having cash on hand gives people the chance to take advantage of opportunities, whether business or otherwise.

Put savings into low-cost diversified index funds

Putting money in a savings account often doesn't give people a solid return on their money. However, investing in the stock market can, as long as people understand that investment returns often come after years of discipline and time for compound interest to work.

Cuban recommends investing in low-cost diversified index funds instead of individual stocks. Index funds can spread out the risk since they contain a basket of different companies, unlike an individual stock, which represents only one company.

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Be mindful of high fees that can reduce returns

In addition to steering clear of individual stocks, Cuban also encourages people to be aware of high fees, like 401(k) fees and management fees.

Sticking with low-cost index funds helps people keep more of their hard-earned money. Often, information about the fees you pay can be buried underneath 401(k) paperwork, and it can be hard to see just how much of your money is going towards management fees.

If you can't understand the fees you pay each year, you can request more information from your human resources department or 401(k) management company.

Never invest in anything you can't clearly explain

Another money tip that Cuban repeats often is to avoid investing in companies or ideas that you don't fully understand. For example, he tells people not to invest in restaurants, clothing labels, liquor companies, or music, especially if someone recently came into significant money. Though some concepts may sound good, some investments can be incredibly risky, which can put your retirement years in jeopardy.

Live below your means and resist lifestyle inflation

Another tip that Cuban shares often is to live below your means and resist lifestyle inflation. Despite his billions, Mark Cuban isn't flashy. He says that he isn't interested in fancy watches and does not want a chauffeur.

He encourages people to live like students for as long as they can. He credits his frugal habits, such as driving old cars, buying food in bulk, and living simply, to being able to build his businesses early in his career.

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Stay disciplined and protect what you've built

Ultimately, Cuban reminds people that achieving a secure retirement one day is possible if you learn financial discipline.

For many people, the path to get there can be straightforward by investing in what you understand and not inflating your lifestyle.

Chasing bigger returns and not managing spending can derail your retirement goals. However, using your higher-earning years to invest in low-cost index funds and keeping your lifestyle expenses low can help you retire on time.

Bottom line

Those near retirement have less time to recover from financial mistakes. That's why Cuban's tips may be helpful to those who plan to retire in a few years.

Above all, Cuban encourages people to stay disciplined and to think for themselves. Try not to be swayed by hot stock tips or flashy investments. Rather, keeping your finances and your lifestyle simple can help you achieve your goals.

If you have any questions about your personal finances, you can always get a second opinion by making an appointment with a financial advisor.

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