"Make that your goal" — When Shark Tank mentor Kevin O'Leary opened up about hitting the savings milestone by 33

Shark Tank mentor Kevin O'Leary posted on LinkedIn to share his perspective on financial planning for young adults in August 2024. He talked about a key savings milestone he believes individuals should aim for by the age of 33.

"I tell young people all the time, by the time you hit 33 years old you should have at least $100,000 saved somewhere. Make that your goal," he wrote.

Kevin O Leary's advice talked about the importance of disciplined saving habits and early financial planning. He further added that to be in a "good place," by the time we reached the age of 65, it was important to start planning now.

His suggestion aligned with broader discussions about savings and financial security, particularly in terms of current economic issues such as rising living costs, student loan debt, and inflation.

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Shark Tank mentor Kevin O'Leary's reasoning behind the savings milestone

Shark Tank mentor Kevin O'Leary's advice talked about the power of early investments and long-term financial planning. He suggested that a savings balance of $100,000 by age 33 could significantly impact an individual’s future financial security.

"That's the age when it's really time to start getting FOCUSED on saving. You want to be in a good place when you're 65, but it starts now!" he shared.

For instance, if we put an amount of $100,000 into a savings account that earns 8% a year on average, it could grow to almost $1.2 million by the time you are 65, even without further contribution. This prediction displays how early investments and profits that grow over time are important for long-term financial growth.

Beyond retirement savings, Kevin O’Leary pointed out that having $100,000 set aside provides a financial cushion in case of emergencies. Personal finance experts have long recommended emergency funds covering three to six months of expenses, but more recent guidance suggests saving up to a year’s worth.

According to O’Leary, reaching this milestone early in life sets individuals up for greater financial independence and stability.

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Challenges of reaching the milestone and expert perspectives

While Shark Tank star Kevin O’Leary’s recommendation presents an ideal financial target, reaching $100,000 in savings by age 33 may be difficult for many people due to economic factors. High living expenses, student loan debt, and increasing housing costs make saving a significant percentage of income a challenge.

A 2025 Yahoo Finance/Marist Poll reported that 36% of Gen Z and 44% of millennials were dissatisfied with their savings, reflecting broader economic struggles faced by young adults.

According to Federal Reserve data from 2022, the most recent year available, Americans under 35 had an average transaction account balance of $20,540.

According to TheStreet magazine article published on February 28, 2025, an average American under the age of 30 owes upto $23,795 in student loans. Although O'Leary's milestone is valuable, experts advise that financial planning should be suited to each person's specific situation.

Instead of focusing on a fixed amount, some financial advisors suggest going for a steady savings rate, like 20% of income.

Others highlight the value of diversifying investments and lowering debt rather than focusing only on one savings goal. Despite these challenges, Shark Tank mentor O’Leary's message advises about the importance of financial discipline.

Whether individuals can meet the $100,000 goal or not, prioritizing saving and investing from an early age remains a good strategy for financial growth.

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