We asked these successful business leaders and advisers in The Oracles what they would do if they were almost out of money. Some of their answers may surprise you."We would spend our last few dollars on digital marketing. Instagram is more valuable than any retail shop window on Madison Avenue or Rodeo Drive.
I am saving not just for a 'rainy day,' but for the many sunny days ahead as well. Retirement is not the end — it's just the beginning. It doesn't mean I won't work or continue to be driven by my mission. But my definition of freedom is to work because I want to, not because I have to.Saving over long periods of time lets the magic of compound interest take over; so while I will continue to work for others, my accumulated savings will keep working for me.
—Marla Beck, co-founder and CEO of Bluemercury, which was acquired by Macy's for $210 million; creator of M-61 Skincare and Lune+Aster cosmetics"When I was starting from scratch and became serious about my career, I bought a nice suit. I noticed that when I was well dressed I had immediate credibility with everyone I met — and myself. I felt a new sense of confidence in every appointment.
— Peter Hernandez , president of the Western Region at Douglas Elliman; founder and president of Teles Properties"If I were down to my last few dollars, I would invest in land or property that would provide an income and a way to financial stability. I would choose real estate with a high potential for appreciation. Then I would rent it out, using that income to pay off the financial obligations, and saving the rest or reinvesting it in another business.
—Andres Pira, real estate developer, founder and CEO of Blue Horizon Developments, and author of"Homeless to Billionaire: The 18 Principles of Wealth Attraction and Creating Unlimited Opportunity"; follow Andres on Facebook, Instagram, and YouTube"I would use it to buy my next company. Most people think a business deal is about the amount of cash now and later, so those are the only parameters they consider.
—Jeremy Harbour, investor and mergers and acquisitions expert; founder and CEO of Unity Group and Harbour Club; author of"Go Do!" and"Agglomerate: From Idea to IPO in 12 Months"; follow Jeremy on Twitter and LinkedIn"Over the past five years, no advertising channel has provided a better or more consistent return on investment than Facebook. With their laser-specific targeting, we have earned back $10 to $15 in revenue for every $1 spent.
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