"Do not move in together"— Shark Tank's Kevin O'Leary shares insight about living together

Kevin O'Leary, known as Mr. Wonderful from Shark Tank, has shared his perspective on relationships, particularly focusing on the idea of moving in together before marriage. In a YouTube Shorts video posted on December 14, 2024, O'Leary advised couples to avoid the option of simply living together.

"Do not move in together. That's too easy. Go through the whole deal, get married. You’ve got to really build something together, make a commitment, and then fight to keep it," he stated.

He noted that marriage strengthens the bond since it makes it harder to walk away, and hence couples would be willing to face all challenges together.

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Shark Tank investor Kevin O'Leary's marriage insights on commitment and finances

Marriage: A stronger commitment

Kevin O'Leary underscored the importance of marriage as a more substantial commitment, than simply cohabiting. He explained that moving in together without the formal commitment of marriage allows for an easier exit when problems arise, making it more likely for couples to separate when facing difficulties. In his YouTube video, O'Leary stated,

"Of course, you're going to have tough times. And it's easy if you've just moved in together to just walk away. But if you're married, that's much tougher."

The Shark Tank investor pointed out that marriage has legal and emotional commitment— therefore, it is not easy to separate, hence encouraging the couples to solve their issues instead of taking the chance of ending the relationship.

As O'Leary indicated, the institution of marriage makes people more attached to their relationship.

"That's why marriage works all around the world. Not so easy to get out of, and it makes you fight to stay together," he noted.

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Financial independence in marriage

Businessman Kevin O'Leary Testifies In House Hearing On Capital Access (Image via Getty)

Another significant aspect of O'Leary's advice relates to maintaining financial independence within a relationship. In an interview with Fox News, posted to his Instagram on September 11, 2024, O'Leary explained the importance of separating finances in a marriage.

The Shark Tank investor underscored the need for individuals to have their financial accounts and not merge their finances, even when they are in a committed relationship.

"What I tell everybody to do in a relationship is have your own account, your own credit card. Never merge your finances together," O'Leary stated.

He highlighted that merging finances can lead to financial stress, which is a major contributor to the breakdown of many marriages. O'Leary further explained that financial problems, rather than infidelity, are often the cause of marital dissolution.

"So many marriages dissolve, not because of infidelity, because of financial stress," he stated.

His remarks point to the idea that financial independence can help avoid conflicts related to money that may arise in a marriage. He also noted that merging finances could lead to complications if the relationship ends, as it may leave individuals without financial independence. The Shark Tank investor emphasized,

"You have to have your own identity. After you get divorced if you have been merged in with your significant other, you're a nobody in our system."

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Love and financial decisions

Kevin O'Leary at Emerge Americas 2022 at the Miami Beach Convention Center (Image via Getty)

In addition to maintaining financial independence, Kevin O'Leary also emphasized the importance of making sound financial decisions, regardless of emotional factors. He explained that while love is central to relationships, it should not interfere with practical financial planning. In the Fox News interview, O'Leary stated,

"You have to have your own credit track record. Don’t let emotions get in the way of that."

He highlighted that keeping separate financial accounts helps ensure that both partners maintain their financial independence and retain control over their financial futures, even if the relationship ends.

Shark Tank's O'Leary’s advice indicates that while emotional connections are important, they should not override practical financial considerations, underscoring the importance of safeguarding personal financial security.

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New episodes of Shark Tank air on ABC every Friday at 8 PM ET and are available to stream anytime on Hulu.