"100% Yes" – Shark Tank’s Kevin O'Leary weighs in on the importance of prenups

Kevin O’Leary, best known for his role on Shark Tank, shared his thoughts on prenuptial agreements in a recent Instagram video on February 12. He emphasized that financial planning is crucial in marriage, leaving no room for debate. He said,

“Should I get a prenup before I get married? Yes or no? There's only one answer to that question. 100% yes.”

He explained that while love is important, financial disagreements often lead to separation. He added,

“Half of marriages end in separation, not because of infidelity, because of financial stress. And when the love is gone, what's left? The cash.”

According to him, having a prenup simplifies the process in case a marriage does not work out. O’Leary, known for his straightforward financial advice on Shark Tank, has consistently stressed the importance of financial responsibility.

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Shark Tank investor Kevin O’Leary’s financial advice

Beyond prenuptial agreements, Kevin O’Leary has shared several financial strategies, including how to manage credit and debt. He has used Shark Tank and social media platforms to discuss the importance of financial literacy. One of his key messages is about credit cards. In a recent Instagram post, he warned,

“There is no way to game the system! You have to be SMART when playing with credit cards and debt.”

O’Leary encourages responsible credit card usage, advising individuals to start with a low limit and pay off balances regularly to build a strong credit score. He has also taught his son Trevor to follow the same principle, saying,

“I told my son as soon as you get one, Trevor, put 50 bucks on the card and pay it off.”

The Shark Tank investor O’Leary also has clear preferences regarding credit card rewards. Instead of accumulating affinity points, he advocates for cash-back rewards, stating that points lose value over time due to inflation. He believes that cash-back options provide a more consistent financial benefit.

As an international traveler, O’Leary highlights the importance of avoiding unnecessary fees. By carrying multiple credit cards that cater to different currencies, he minimizes exchange rate costs.

“My whole thing about credit cards is I don’t like fees,” he stated, emphasizing the importance of efficient financial management.

Furthermore, O’Leary has spoken about entrepreneurship and the risks of relying on a steady paycheck.

He believes that financial security can sometimes prevent individuals from reaching their full potential. As per Benzinga, on January 13, Kevin stated,

“A salary is the drug they give you to forget your dreams."

The Shark Tank star argues that while stability is comfortable, it can discourage people from pursuing their ambitions. He believes that fear of failure is a powerful motivator.

Leaving behind a fixed income pushes individuals to work harder, adapt faster, and pursue their goals with greater determination. However, he warns that entrepreneurship requires extreme dedication, describing it as

“working 25 hours a day, eight days a week.”

Despite the challenges, he sees failure as an opportunity to learn and improve. He advises entrepreneurs to be realistic and shut down businesses that do not succeed within three years, stating,

“Don't get romantic about your idea. If it's a dog, it's a dog.”

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Watch Shark Tank on Fridays at 8/7c on ABC or stream full episodes anytime on Hulu.