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Kevin O’ Leary says investing $100 a week will make you a millionaire by retirement

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From the article:

MarketWatch: A lot of people in their 20s and 30s might not want to retire too early but they have a savings number in mind that would give them financial independence. How important is it to achieve financial independence and what does that mean for you?

O’Leary: It means that at the back-end of your life, you have the freedom to pursue the things that matter to you, whether that’s family, children, travel or hobbies that are important to you. The whole idea of wealth is happiness. I try to tell people, look, if you don’t want tremendous stress in life, because a lot of stress can be unhealthy, you have to have a plan that allows you to have a lifestyle you want to have when you’re past 60 years old.

MarketWatch: Was there a time you can remember when you felt you had achieved financial independence?

O’Leary: I was very fortunate. One of my companies was a huge success. It started in a garage and we sold the Learning Company for $4.2 billion. All the founders overnight had this big liquidity event.

Just another perfect example of peddling the Slowlane while getting rich in the Fastlane....
 

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BellaPippin

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andrea532

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From the article:

MarketWatch: A lot of people in their 20s and 30s might not want to retire too early but they have a savings number in mind that would give them financial independence. How important is it to achieve financial independence and what does that mean for you?

O’Leary: It means that at the back-end of your life, you have the freedom to pursue the things that matter to you, whether that’s family, children, travel or hobbies that are important to you. The whole idea of wealth is happiness. I try to tell people, look, if you don’t want tremendous stress in life, because a lot of stress can be unhealthy, you have to have a plan that allows you to have a lifestyle you want to have when you’re past 60 years old.

MarketWatch: Was there a time you can remember when you felt you had achieved financial independence?

O’Leary: I was very fortunate. One of my companies was a huge success. It started in a garage and we sold the Learning Company for $4.2 billion. All the founders overnight had this big liquidity event.

Just another perfect example of peddling the Slowlane while getting rich in the Fastlane....
Fastline forever :)
 

Edd--19

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The hypocrasy is ridiculous.

I'll be happy to sell him my build your business Ebook for $497. I gurantee this is all based on my experience of watching everyone else build a business.
 

MJ DeMarco

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Actually Kevin is right for the most part. But he forgets to mention, like most of the financial punditry, that your $1M won't be worth shit. You'll still be mediocre, or worse, poor. And you wasted fifty years of life for it. In fifty years, $1M will be equivalent to $50K in today's money. Your "millionaire" title will be as worthless as a Zimbabwe or an Indian Rupee millionaire.

It's classic fodder for the slavery class, which at this point, is everyone who helps people like OLeary get rich, and stay rich.
 

sparechange

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Canada would be great again if he got in as PM..
 

MJ DeMarco

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Don’t forget to not buy Starbucks, not go to dinner, to the bar, concerts, vacations, and live in squalor, all for the hope of being rich one day. Maybe. Probably not. Your local stock broker thanks you.

Live poor, die rich. What a great idea!
 

SteveO

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Keep in mind that a very small portion of the population thinks like we do. Kevin is not addressing us... he is talking to people that don't have it in themselves to build businesses.
 

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SEOguy

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From the article:

MarketWatch: A lot of people in their 20s and 30s might not want to retire too early but they have a savings number in mind that would give them financial independence. How important is it to achieve financial independence and what does that mean for you?

O’Leary: It means that at the back-end of your life, you have the freedom to pursue the things that matter to you, whether that’s family, children, travel or hobbies that are important to you. The whole idea of wealth is happiness. I try to tell people, look, if you don’t want tremendous stress in life, because a lot of stress can be unhealthy, you have to have a plan that allows you to have a lifestyle you want to have when you’re past 60 years old.

MarketWatch: Was there a time you can remember when you felt you had achieved financial independence?

O’Leary: I was very fortunate. One of my companies was a huge success. It started in a garage and we sold the Learning Company for $4.2 billion. All the founders overnight had this big liquidity event.

Just another perfect example of peddling the Slowlane while getting rich in the Fastlane....

The MarketWatch audience aren't entrepreneurs...
 

thechosen1

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Keep in mind that a very small portion of the population thinks like we do. Kevin is not addressing us... he is talking to people that don't have it in themselves to build businesses.

this for sure. I think the reality is that people like Kevin just don’t think others are as smart or clever or lucky or whatever as he is... so he doesn’t give them the “real” advice they are looking for. That’s where the scripted dogma comes in: the line always begins with “for most people...”

We are not trying to be “most people.”
So that advice sucks, Kevin!
 

Koenz

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A 100 a week, 5200 a year.. Quite a nice amount of money. Put it in business and make it grow a lot faster while learning new skills and things along the way :)
 

thechosen1

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this for sure. I think the reality is that people like Kevin just don’t think others are as smart or clever or lucky or whatever as he is... so he doesn’t give them the “real” advice they are looking for. That’s where the scripted dogma comes in: the line always begins with “for most people...”

We are not trying to be “most people.”
So that advice sucks, Kevin!

I do have a question about this, though. Money systems are a good thing to work towards. $100/week (or month) is obviously the slowlane and is pretty ineffective (especially after horrible inflation).

But, let's say I flipped a house and made $50k profit and immediately invested all of it. Is that still scripted dogma because it's not big enough, or is that a good start to a real money system?

I'm torn because I do have a lot of my NW in the market, but my NW is still too low for a true "money system." So maybe I'm doing it wrong.

Edit: no comments. Any thoughts on this?
 
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MJ DeMarco

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The MarketWatch audience aren't entrepreneurs...

I deleted Marketwatch from my bookmarks, it has turned into a propaganda shitshow, just like most of the media in this country.

If you want raw financial news without the socialist narrative and narrativized into propaganda, Investors.com and CityFalcon. In fact, CNBC is far better than Marketwatch.

Marketwatch is dogshit and for the plebs which is why they practically have a "FIRE" article weekly. Look at Johnny Save Every Dollar! He saved a million dollars and now he's retired and standing on this mountaintop with a shit-eating grin! Visit his blog and see how you can do it too! (But don't forget to click on his affiliate links to all those great financial firms!)

LOL.
 

socaldude

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It just seems like everything in life is designed to try to make you mediocre. Academia, government, media, parents and teachers. I always ponder that. Why is so much effort put into that. The right thinking for success is there. It’s just hidden behind a thick smokescreen of haters.

But yeah I think Kevin has his own ETF or something like that. I’m sure that makes some pretty good money.
 

thechosen1

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It just seems like everything in life is designed to try to make you mediocre. Academia, government, media, parents and teachers. I always ponder that. Why is so much effort put into that. The right thinking for success is there. It’s just hidden behind a thick smokescreen of haters.

But yeah I think Kevin has his own ETF or something like that. I’m sure that makes some pretty good money.

Kevin started his own mutual fund. I agree, all advice is basically "how to be average." Defeats the point of getting advice.
 

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I deleted Marketwatch from my bookmarks, it has turned into a propaganda shitshow, just like most of the media in this country.

If you want raw financial news without the socialist narrative and narrativized into propaganda, Investors.com and CityFalcon. In fact, CNBC is far better than Marketwatch.

Marketwatch is dogshit and for the plebs which is why they practically have a "FIRE" article weekly. Look at Johnny Save Every Dollar! He saved a million dollars and now he's retired and standing on this mountaintop with a shit-eating grin! Visit his blog and see how you can do it too! (But don't forget to click on his affiliate links to all those great financial firms!)

LOL.
Downloaded the Reuters app. I’ll take my news unfiltered. Will check out city falcon.

Bloomberg seems like a decent choice but I don’t know enough.
 

The Patriot Way

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If you want to have Kevin O'Leary's success, ignore Kevin O'Leary's advice! I learned that from MJ.
 

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Keep in mind that a very small portion of the population thinks like we do. Kevin is not addressing us... he is talking to people that don't have it in themselves to build businesses.
exactly.

help them get the discipline to put $5k aside ...... THEN get to them BEFORE they hand it to the gambling tables / brokers / etc.

i start a lot of people i help that way ...... find a business to buy for $4k while putting $4k aside. then come see me before you do anything.
 

PapaGang

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exactly.

help them get the discipline to put $5k aside ...... THEN get to them BEFORE they hand it to the gambling tables / brokers / etc.

i start a lot of people i help that way ...... find a business to buy for $4k while putting $4k aside. then come see me before you do anything.
Great advice. Baby steps.
 

Dogmeat

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From the article:

MarketWatch: A lot of people in their 20s and 30s might not want to retire too early but they have a savings number in mind that would give them financial independence. How important is it to achieve financial independence and what does that mean for you?

O’Leary: It means that at the back-end of your life, you have the freedom to pursue the things that matter to you, whether that’s family, children, travel or hobbies that are important to you. The whole idea of wealth is happiness. I try to tell people, look, if you don’t want tremendous stress in life, because a lot of stress can be unhealthy, you have to have a plan that allows you to have a lifestyle you want to have when you’re past 60 years old.

MarketWatch: Was there a time you can remember when you felt you had achieved financial independence?

O’Leary: I was very fortunate. One of my companies was a huge success. It started in a garage and we sold the Learning Company for $4.2 billion. All the founders overnight had this big liquidity event.

Just another perfect example of peddling the Slowlane while getting rich in the Fastlane....
 

thechosen1

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I deleted Marketwatch from my bookmarks, it has turned into a propaganda shitshow, just like most of the media in this country.

If you want raw financial news without the socialist narrative and narrativized into propaganda, Investors.com and CityFalcon. In fact, CNBC is far better than Marketwatch.

Marketwatch is dogshit and for the plebs which is why they practically have a "FIRE" article weekly. Look at Johnny Save Every Dollar! He saved a million dollars and now he's retired and standing on this mountaintop with a shit-eating grin! Visit his blog and see how you can do it too! (But don't forget to click on his affiliate links to all those great financial firms!)

LOL.

i agree wholeheartedly with the criticism, but the goal is a money system right?

So how much do you need to contribute for it to be worth it?

I’m young but let’s say I have $100,000 invested in a money system. It’s not enough to actually be a complete system, but it’s a good start. Is that dogmatic, or is that smart?

There’s gotta be some gray areas.

Then there are real estate rentals - a money system that is also something of a fastlane rental system. Still requires some serious frugality and investing.

Of course, selling the main business would be much more satisfying and rewarding.
 

socaldude

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I think it’s also helpful to think about WHY so much BS is pushed through financial headlines. One of those reasons in my opinion is that of the central banking corporate partnership. Almost all media companies are private and it’s in their interest to push dumb headlines like: “Click here to read how this couple retired off credit card airline points!”

You wanna build wealth, copy the modus operandi of the institutions that push this stuff. And that’s to own and control infrastructure. You wanna participate in the infrastructure of any economy to build massive income. It can be digital or physical.

The funny thing is most central banks don’t give a crap about the money they loan out because it’s created out of nothing lol. Well they do, but they care more about the asset or infrastructure. That’s why they love long-term-asset-backed securities.
 
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AidenRafi

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A millionaire by retirement wont be much if you are in our 20s-30s, when considering inflation.
 

Kevin88660

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From the article:

MarketWatch: A lot of people in their 20s and 30s might not want to retire too early but they have a savings number in mind that would give them financial independence. How important is it to achieve financial independence and what does that mean for you?

O’Leary: It means that at the back-end of your life, you have the freedom to pursue the things that matter to you, whether that’s family, children, travel or hobbies that are important to you. The whole idea of wealth is happiness. I try to tell people, look, if you don’t want tremendous stress in life, because a lot of stress can be unhealthy, you have to have a plan that allows you to have a lifestyle you want to have when you’re past 60 years old.

MarketWatch: Was there a time you can remember when you felt you had achieved financial independence?

O’Leary: I was very fortunate. One of my companies was a huge success. It started in a garage and we sold the Learning Company for $4.2 billion. All the founders overnight had this big liquidity event.

Just another perfect example of peddling the Slowlane while getting rich in the Fastlane....
To be fair to Mr Wonderful...
View: https://youtu.be/vqvv0zJdba8
 

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