Kevin O’Leary says if you earn $68,000 a year and follow this rule, you’ll retire a millionaire |
Kevin O’Leary says if you earn $68,000 a year and follow this rule, you’ll retire a millionaire
As Americans are barely getting by because of inflation, tariffs, and a cost-of-living crisis, saving for retirement can feel like the priority lowest on the totem pole.
But multimillionaire serial investor and entrepreneur Kevin O’Leary says saving is more important than ever before.
“What piece of advice do I give my kids over and over and over again about money?” the Shark Tank star questioned in a recent Instagram video. “Don’t spend it. Save it. Invest it. Let it compound. That’s the gift the market gives you.
O’Leary’s golden rule of investing is straightforward. He says to take 15% of every dollar you earn, whether it’s from your paychecks, side hustles, or birthday money from grandma, and put it directly into the market.
“Just let it compound,” he said.
View this post on Instagram A post shared by Kevin O'Leary (@kevinolearytv)
A post shared by Kevin O'Leary (@kevinolearytv)
For the average American worker who makes $68,000 per year, that simple rule will pay off in the end, he argued.
“If you make $68,000 a year, the average salary, and you do this your entire life, just 15% of your paycheck, you’ll end up a millionaire at retirement at 65,” O’Leary said.
Does Kevin O’Leary’s math check out?
Most national estimates place the average American salary at roughly $66,000 to........