STOP Saving Money! Do THIS Every Time You Get Paid

Kevin O'Leary, one of the most recognisable investors on Shark Tank, says the biggest mistake young people make is saving money in a bank account instead of putting it to work. His rule is simple: allocate 15% of every paycheck into two buckets, stocks and bonds, automatically, before you even see the money.

He built an app to do exactly this, but says any platform that lets you buy ETFs tracking the S&P 500 will do the same thing. He starts with the $28 lunch. He says he cannot stand watching someone earning $70,000 a year spending $28 on lunch every day. Not because the food is bad, but because of what that money becomes over 50 years if invested at 8 to 10% annual returns in an index fund. He says people who claim they can pick stocks and beat the S&P 500 are "so full of crap" because over the long term, almost nobody does.

Discover:

• Why saving money in a bank account is the biggest financial mistake

• The 15% rule that automatically builds wealth from every paycheck

• Why people who claim they can beat the S&P 500 are "full of crap"

• How his mother's Chanel jacket strategy turned clothing into an investment

• Why the watches he bought for $200,000 are now worth over $1 million

• The reason crypto is "never going away" and how to participate safely

• What Steve Jobs was really like behind closed doors (from someone who worked with him)

• Why Kevin says he never once saw Steve Jobs laugh or be happy

📺 Watch the full episode here

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