Billionaire Mark Cuban discusses his wealth

[INTERVIEWER: C-SPAN'S BRIAN] LAMB: What does it mean, for those of us who can’t comprehend what, you know, that kind of wealth is like, what’s it mean?

[BILLIONAIRE BUSINESSMAN MARK] CUBAN: Two things probably. It means security, you know. I don’t have – I mean I’ve woken up days and not known if I could pay my light bill. I’ve come home from work or come home at times and the lights have been turned off. And, you know, it’s embarrassing and it’s, you know – it’s motivating. You know I’ve slept on the floor for six months in buddies’ apartments when I first got to Dallas.

So, you know, I’ve been on both sides and not having to worry about those things anymore that’s part.

And when I was single I would have told you there’s nothing even remotely bad. But now I have a two-and-a-half-year-old daughter and it scares me. It scares me in how she’s going to be raised because I grew up completely middle class and I think, you know, there’s a lot of accountability involved in growing up where you are responsible for yourself. And you know, she’ll figure it out at some point in time that there’s a little cushion back there and that’s what scares me. But other than that, you know, it’s a beautiful thing.

You know it really is being able to wake up with a smile on my face and say, OK, what do I want to do today.

3/26/06 C-SPAN interview transcript

Ben Stein's Cruel Truth About Retirement

For most of us, by far our biggest financial liability is going to be our retirement. Living without working is not easy, and it's getting more difficult as defined-benefit corporate pension plans go the way of the do-do bird. To live comfortably off your capital requires a very large amount of capital relative to our earnings....

There are several points here. One is that the amount of saving the pre-retiree has to do even with a fairly good head start is fantastic.... So, prepare to save a lot....

Second, you must remember that inflation will still be eating away at your savings after you retire. Many people forget that, and it hurts them dearly.

http://finance.yahoo.com/columnist/article/yourlife/3679