Do you want to know the financial secrets of the stars of the hit reality show ‘Shark Tank’? Well, you’re in luck, because in an exclusive interview with Us Weekly, Kevin O’Leary, Mark Cuban, Barbara Corcoran, and Robert Herjavec spilled their best financial advice to help you retire as a multimillionaire.
First up, we have Kevin O’Leary, who became a multimillionaire at the age of 45. He has a simple formula for retiring as a multimillionaire – take 15 percent of your salary each week or every two weeks when you get paid, and put it into an investment account. Then, never touch it until you turn 65. According to O’Leary, this is the key to retiring a multimillionaire and he should know, with an estimated net worth of $400 million.
For those just starting out, Mark Cuban has some wisdom to share. He advises those in their 20s who may not be sure of their path to not worry about having all the answers. It’s okay to go get a job that’s not perfect, because you just want to experience new things. Cuban himself did everything from selling garbage bags to working at a deli before becoming a billionaire in 1999.
Barbara Corcoran, who made her fortune by launching her own successful real estate firm, became a millionaire in 2001 with the $66 million sale of her business. Her best advice is to start a business and work for yourself. If you’re so inclined, why do you want to work for somebody else? You don’t have to get it right, you just have to get it going, says Corcoran.
Robert Herjavec, who founded his own internet security software company from his basement, echoed Corcoran’s advice about starting a business. Start something that you can invest in, that you can grow, and start your own business. It’s the only path to wealth, according to Herjavec.
Cuban specifically emphasized the importance of adjusting financial strategies with age. For those in their 30s and 40s, it’s more about saving for things like your children’s school and supporting your family. Then, by the time a person hits their 50s, you really gotta be careful with your investments. You probably have to be a little bit less adventurous when it comes to investing and start preparing for retirement.
So, there you have it – the financial advice straight from the sharks themselves. If you want to hear more, you can watch the exclusive video on Us Weekly.
Do you like reality TV? Well, it turns out that stars are just like us – they can’t get enough of reality TV either. From Keeping Up With the Kardashians to The Bachelor, stars like Rihanna can’t help but indulge in the drama.
Now, are you ready to take the financial world by storm with the advice from the stars of ‘Shark Tank’? Whether you’re just starting out or looking to adjust your financial strategy, there’s something for everyone in the advice shared by these millionaire moguls. So, take the advice to heart, and who knows – you could be the next multimillionaire to retire early!