Kevin O'Leary's Money Advice for his Kids to Amass a Million Dollars Even With Low Annual Income

Kevin O'Leary has been investing in diverse businesses on Shark Tank, cryptocurrencies, and even data centres. However, for his kids, he has very simple money advice on how to become a millionaire, even if you make $68,000 annually.

'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,' he stated.

For O'Leary, building wealth is about investing, mindset, and discipline over the long term. The Shark Tank star has an estimated net worth of $400 million, but he doesn't plan to leave it to his kids. O'Leary believes in teaching his kid the value of hard work early on. 'The dead bird under the nest never learns to fly,' he had stated earlier.

O'Leary's money advice for kids appears to be working out as his son Trevor studied engineering and now works at Tesla.

O'Leary Says 'Just Let it Compound'

O'Leary believes one should put money into the market and 'just let it compound,' drawing parallels with Warren Buffett's time-tested value-investing principles.

'Best piece of advice I can give anybody. Don't buy stuff you don't need — invest it instead,' he had mentioned.

Meanwhile, Buffett had stated a few years ago that for most people, 'the best thing to do is own the S&P 500 index fund,' for exposure to America's 500 largest companies across industries, for adequate diversification without the need for constant management of portfolio allocations.

Leveraging compounding returns requires disciplined saving and investing for the long term, regardless of market downturns. Reaching a millionaire status also depends on when you start investing and portfolio returns.

According to CNBC analysis, if you begin saving 15% of your income at age 25 and earn a 4% annual return on your investment, you'd only need to make $67,459 annually to reach the $1 million mark by age 65.

Those who start at 40 must earn more than double or $155,086 per year, to reach the same goal with a 4% return. However, if your annual returns are 8%, the required annual income falls to $83,563.

In general, US stocks have delivered strong long-term returns. The benchmark S&P 500 has delivered an average annual return of 10.56% since 1957. Overall, O'Leary's advice hinges on the fact that the earlier you begin investing, the better your chances of growth.

However, saving 15% of every paycheck could be difficult for everyone, given that the US personal savings rate stood at 4.5% as of January 2026, according to the Federal Reserve Bank of St. Louis. High oil prices amid the Middle East conflict are also raising living costs amid high unemployment and recession risks, driving wild market swings and mounting financial pressure on already strained US households.

However, O'Leary believes a permanent multinational policing coalition will seize control of the Strait of Hormuz once the ongoing conflict subsides, effectively ending Iran's unilateral grip on the crucial waterway.

Disclaimer: Our digital media content is for informational purposes only and not investment advice. Please conduct your own analysis or seek professional advice before investing. Remember, investments are subject to market risks and past performance doesn't indicate future returns.