A new financial guide on just how to stop money mistakes at every stage of life, indigenous bestselling author and TV superstar Kevin O’Leary—“a totally unique personality. That is able come say things that room sharp and funny but ultimately meaningful” (Los Angeles Times).Don’t invest too much. Mostly save. Constantly invest. This is simple advice, however it’s often the straightforward advice that’s straightforward to swallow and also hard come follow. Kevin O’Leary understands that getting a handle on your personal finances can be difficult at any age. Even if it is you’re a parent struggling to describe savings to her children, a college student contemplating a big loan come pay for school, a newly engaged couple considering joint financial institution accounts, or a baby boomer beginning retirement, Kevin uses solid, handy advice to assist you make—and keep—more money. As a star on ABC’s Shark Tank, Kevin’s success through money management and also in company is legendary. But he’s made mistakes along the way, too, and he’s created this publication so others can benefit from his experiences. Each chapter is geared to a certain age or phase in life and also focuses on straightforward changes you can make to stop debt, conserve money, and also invest because that a brighter future. You’ll find real-life instances of common money mistakes and also strategies for staying clear of them, “Cold difficult Truth” quizzes and also charts aimed at raising your gaue won wisdom, and tips and tricks for making more money and growing it quicker to accomplish financial freedom. The Cold Hard reality on Men, Women, and also Money provides an invaluable opportunity to to walk through some of life’s best decisions with one of the sharpest financial minds today.

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Kevin O’Leary is just one of North America’s most successful business entrepreneurs, and a star the ABC’s Shark Tank. Kevin founded and also built SoftKey (later referred to as The finding out Company), a global leader in educational kids’ software, and also negotiated its revenue to Mattel for $4.2 exchange rate in 1999. Since then, that has successfully cofounded, funded and also sold plenty of companies in a range of industries, consisting of storage, entertainment, and also finance. Today, Kevin is the chairman of O’Leary Funds and also O’Leary Mortgages, and the founder that O’Leary good Wines. That is likewise an avid guitarist and also photographer.

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Cold Hard reality On Men, ladies & Money In the same means that our connection to food is shaped by lessons learned during childhood, so, too, is our connection with money. It is often our parents, for much better or for worse, that teach united state our very first money lessons. Mine mother, Georgette, was a grasp with money. She to be born in Montreal to parental of Lebanese descent. And while she didn’t have actually a an intricate business degree, she to be thrust into the family members clothing organization at a really young age, after the sudden fatality of her father. In the Lebanese culture, businesses space usually passed under to the boys, however her brother, Norman, was also young to take it over. For this reason in the beginning, it was as much as my mother and her sister to keep the organization running until Norman was old sufficient to take it over. Turns out, my mom was a organic at balancing the books. She met mine father, Terry, with the household business. He was a charismatic guy and one the the company’s most talented salesmen—until his an individual problems expected he lost every coin he earned. Many marriages crash against the unforgiving shores of bad money management, and also too often children bear the brunt of your parents’ financial decisions. My parental shielded mine brother, Shane, and also me native the worst of their marital woes, yet my mother’s marital relationship to my father damaged down mostly over money matters. The was good to Shane and also me, however he to be a fun-loving Irishman who chosen to buy rounds at the bar and gamble v his friends. I was 6 years old once my mother was granted single custody of Shane and me. She acquired remarried, to a guy named George Kanawaty, who came to be a father figure to Shane and also me—something my very own father couldn’t be due to the fact that of his addictions. ~ the wedding, we all moved to Illinois so the my brand-new stepfather can pursue a Ph.D. In business. One day, fed up v the custody arrangement, my birth father endangered to pertained to Champaign-Urbana and also bring Shane and me back with him. Mine mother had actually heard he’d fallen in through a unstable crowd, so she didn’t want us going there. The plan was for my mom and both of us kids to fly to Europe for as long as it take it George to factor with mine dad in Illinois. However the trip forced cashing in a large part the George and my mother’s emergency savings, i m sorry weren’t far-reaching to begin with. As soon as my mother married George, he was a student through $36 to his name. Wherein there’s a will, there’s a way—and I have actually never met a mrs with much more will 보다 my mother. The three of united state flew come Lausanne, Switzerland, wherein my brother and also I would certainly be safe. After waiting it out for main in a foreign hotel room with two small children, and despite she determination and also cool resolve, my mother finally burst right into tears. She to be at the finish of she rope, in terms of both stress and also finances. The money that was keeping her kids safe indigenous a man she didn’t to trust to take care of them was to run out. And also both George and also my mother had used up almost every one of their resources. There was nowhere else come turn. Kids pick up every nuance of parental strife and also store that in a location so deep in your subconscious the it affects them for the rest of your lives. I knew George and also my mother didn’t have the money to rental expensive lawyers come fight this in court, and they absolutely couldn’t afford to store us covert in Europe forever. I will never forget my mother’s fear, the look at on her confront when she realized that at some point the money would certainly run out and she can lose her children. Less than eight weeks right into our exile, sadly, tragically, my father passed away of a heart strike at the age of thirty-seven. The custody struggle was over. Still, ours precarious gaue won situation, and also my mother’s panic about it, moved through mine bloodstream in that one moment, and also I think it changed my really DNA. I remember thinking, I never want to feel this frightened and also powerless again. I never ever want mine own kids to experience financial terror. Early-childhood trauma is an dreadful thing, however in this case, it might have to be an odd blessing for me. Looking back, ns think that’s as soon as the seeds of mine own need to accomplish financial defense were sown. Probably you’re wonder why I’m telling you this story. The fact is that as soon as I provide tough-minded jae won advice, I want you to understand where it comes from. I’m a wealthy guy now, but at miscellaneous points in mine life, I’ve knowledgeable the terror of financial insecurity firsthand. I’ve common this personal story with you to show that periodically in life, civilization may it is in able to aid you the end of challenging situations. But there are other times once the just thing that can assist you is money. Yet for money to conserve you, first, you have to save it. Past saving money in situation of catastrophe, my mommy was additionally a savvy spender. Here’s the distinction: She was careful with her money, however she wasn’t cheap. Ns remember admiring a Chanel jacket she as soon as wore to Christmas dinner in ~ our ar in Boston. “Great jacket, Mom. Have to have expense you a fortune.” “Not this year,” she said. “What perform you mean?” ns asked. “Kevin, dear. This coat is old. I’ve had it forever.” This surprised me since the jacket to be so stylish and also beautiful, a black classic box cut. That looked choose she’d simply picked it up turn off the rack from that season’s new line, however she then told me she’d bought it in the so late sixties, twenty years earlier! She spent, at the time, a small fortune—about $500—for that jacket. Us didn’t discuss this further, yet knowing mine mother, she would have saved and also thought around this acquisition for a lengthy time prior to actually complying with through. She would have tried that on a couple of times, v George there to give her feedback. However the thing is, she wore the jacket because that decades. She didn’t dry-clean her apparel every time she wore them. She steam them now and also again, to maintain their shape and also color. She never ever flung her clothes on the earlier of chairs. She constantly hung them up on hangers. No everyone have the right to afford Chanel, that must be said, but this instance begs some serious math. Let’s to speak you to buy a bargain black blazer at the space for $100. It’ll most likely stay in format for a season and also pill and fade after dried cleaning it five to ten times. So in the course of twenty years of expert use, you’ll purchase a new black blazer every 2 years, say, for a total of $1,000—assuming the price never goes higher than $100. Using the mathematics above, you can say mine mother’s jacket, purchased for $500 much more than twenty years earlier, conserved her $500. Yet here’s the genuine value: The perpetually fashionable Chanel blazer would certainly fetch about $1,000 today, according to vintage clothing collectors I’ve consulted. So that saved much more money? You, through your $100 blazer purchased every 2 years because that twenty years, at the price of $1,000? Or my mother, that bought one jacket, once, at a price the $500, wore it for twenty years, then sold it because that $1,000? I want you to understand this is comes from a male who balks in ~ a designer price tag. Ns can’t believe how much good-quality garments cost. And also I also want come be an extremely clear that I’m no advocating the you walk out and buy Chanel if friend can’t purchased it. However I am asking you, with every little thing you buy, to take into consideration value over impulse. Ns am asking you to study all her purchases and also begin come treat whatever you buy as an investment. Everything. Also a blazer. I desire you to start thinking around quality and also the potential resale worth of every single purchase girlfriend make. It’s a good discipline the will reduced down on a most impulse and redundant spending. That’s what Georgette did. Incidentally, that’s what my wife, Linda, does, too. We checked out a black-tie role recently, and also she pulled out a dress she’s had for an ext than ten years. It’s a classic cut, beautifully made, the kind of silhouette that never goes the end of style. She’s acquired a most use the end of it. And also while my mom bought some of the many beautiful and expensive apparel I’ve ever before seen, almost none of what she bought shed much of its value or stylishness over time. She closet was well curated. She never bought too lot or overspent. She was a clever shopper. Incidentally, mine daughter, Savannah, has come to be a vintage clothing hound. She buys a lot of of great pieces secondhand. I favor to think she inherited her distinct style from her mother and her frugality from her grandmother. In 2008, my beloved mommy passed away. It was devastating and also unexpected: a heart attack followed by a hit on the operating table. Days later, i was told the she had actually made me the executor of she estate. ~ years working for the united Nations, she and George had took pleasure in a textured life, wealthy in experiences, travel, friends, and also fine food, yet their way of living was through no way overly lavish. They largely lived ~ above George’s heavy UN income, so mine mother’s money was hair to invest and spend. She never merged it with her husband’s. That money was every her own, and also George didn’t also know just how much she had. Maintaining some money separate for you and also only you is one of the ideal financial great I have the right to impart come you. (I’ll talk more about that and also what I call your “Secret 10” in thing 6.) but at the time of mine mother’s death, ns hadn’t given this idea much thought. Mostly, I never ever imagined that Georgette’s savings price to much. However when I opened up the books and studied her long-term investment portfolio, I gained a big surprise. She’d amassed the kind of swarm egg with which most human being could gain a worry-free, amazing retirement. Through the look at of her portfolio activity, she mainly invested and rarely spent. She didn’t collection aside substantial chunks that cash, just a secure amount every month, and only in share or securities the paid her a dividend or a yield. When people talked around investing favor this, I always thought they were talking around another era. Yet do friend have any idea what wake up to a portfolio over forty years that consists of only bonds through interest and stocks v dividends? You have to see that to think it. Mine mother’s portfolio was a sweeping, arcing heat tracing worth over time—it only went up—and she balance steadily grew and also multiplied in ~ an tremendous rate. As soon as I analyzed mine mother’s secret cache, as soon as I studied she slow and also steady investment style and the healthy nest egg she’d tucked away because that herself, here’s what i learned: with very little money and a bit of expertise, anyone can flourish his or her money. My mom did it. So deserve to you. I received this Warhol-like canvas together a gift native a friend who stated I was “obsessed through money.” i took it as a compliment! This now hangs top top the wall surface at O’Leary ventures Corporation. (Artman Agency/Cyrille Margarit) To change your fortunes, abide by mine mother’s three straightforward rules: Don’t spend too much. Mostly save. Always invest. Before we embark on this financial trip together, the most important tool you’ll require is information—about yourself, her goals, and your ability to accomplish them. You need to know where you’re at before you head whereby you’re going. To test your self-knowledge around your own spending, saving, and also investing habits, shot the quiz below. There room no not correct answers, only moral ones. 1. At any given time, perform you know precisely how lot money is in her wallet, your checking/investments/savings accounts? Y/N 2. Do you walk shopping v a specific list, buying only what’s top top it v rare exceptions? Y/N 3. Do you refrain from putting customer goods or groceries ~ above a credit card, paying only in cash or through debit card unless absolutely necessary? Y/N 4. Do you withstand last-minute to buy (such as magazines, cacao bars, or gum) in the checkout aisle? Y/N 5. Do you study prices and also comparatively shop before you hit the stores? Y/N 6. Do girlfriend skip or block the purchase channel at residence to stop making unnecessary purchase from your couch? Y/N 7. Do girlfriend pay turn off your credit transaction cards in ~ the finish of the month, making use of them just for convenience or to gather reward points? Y/N 8. Do you save your receipts very closely filed and also promptly return item if you’re less than satisfied through them or find you don’t need them? Y/N 9. Are you mindful of all accessible discounts, rebates, and also coupons before making any purchases? Y/N 10. Are girlfriend able to stop shopping as soon as you’re stressed, bored, worried, or tired? Y/N 1. Do you collection aside a certain amount every month because that savings, never veering from this commitments unless it’s one emergency? Y/N 2. Do you conserve money in the highest-interest to save account you deserve to find? Y/N 3. Do you store minimum balances to stop paying bank fees? Y/N 4. Do friend understand how much you’re payment in banking fees? Y/N 5. Do you live within her means? Y/N 6. Do you make debt repayment a priority? Y/N 7. If you have children, perform you have a plan in place to conserve for their education? Y/N 8. If you’re planning to buy a house, are you conserving for a enough down payment (at least 20 percent)? Y/N 9. Do you cultivate an excellent habits—such as bringing lunch to work and using libraries—with the express purpose of conserving money? Y/N 10. Do you have money collection aside in instance of emergencies? Y/N 1. Are you prepared to invest? Y/N 2. Do you have a clear knowledge of her retirement goals? Y/N 3. Do you understand your appetite for risk? Y/N 4. Do you have working knowledge of the various financial products accessible to you, from stocks to bonds come treasuries to common funds, and also the difference in between yield, nonyield, dividend- and non-dividend-paying products? Y/N 5. Do you have actually a pension plan? Y/N 6. Do you know retirement vehicles—IRAs, 401(k)s—and your attendant taxation benefits? Y/N 7. Do you job-related with a trusted financial advisor who helps friend navigate facility investing vehicles? Y/N 8. Do girlfriend pay attention to financial news on a continuous basis? Y/N 9. Do girlfriend invest only in things you understand? Y/N? 10. Do you reaction to volatile industries with moderation and patience? Y/N If girlfriend answered correctly to most of these questions, kudos to you. Ns hope this publication reinforces several of your an excellent spending, saving, and also investment habits and also helps you avoid forming bad ones. If you’ve reply roughly fifty percent yes, fifty percent no, then these pages offer valuable advice to help you guideline the scales earlier in donate of jae won health. If you answered no to many of these questions, climate you room heading because that financial trouble.

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However it’s not as well late come change; in fact, when it comes to money, it’s never ever too so late to change. Store reading.