Kevin O'Leary: How Much Money You Should Save By 33

Kevin O'Leary explains just how much money you should have by the time you are 33 years old and why it's important. “By the time you hit 33 years old, you should have $100,000 saved somewhere. Make that your goal. Thirty-three [and] $100,000,” O’Leary tells CNBC Make It.

According to Kevin O'Leary, 33 is the point where you could fall behind if you haven't started saving. While $100,000 might sound "impossible" to many Americas, O'Leary believes it's possible to save this much if you start saving early enough.

For example, if you’re 22 and making a median salary of $48,400 (for new graduates), and you start saving 20% per paycheck, that amounts to $9,680 a year. Even if you keep the same salary and assume no interest, saving that amount for 11 years gets you $106,480 by the age of 33. By investing the same money, and assuming O’Leary’s 5% growth, that gives you $144,397 in the same amount of time. (The S&P 500 Index has averaged annual returns of approximately 10% since its inception in 1926.)

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Kevin O'Leary: Here's How Much Money You Should Save By 33

[OUKEN]

i’m 33 years old it’s already too late for me, so for that reason, i’m out.

[msj]

I'm 31 and have about 51k saved. I don't make that much money but I'm trying my best to save as much as I can.

[brendanmcg]

Me at 34, at about 10k saved and I feel blessed. Managed to stay employed through all of COVID so far.

[MargaretGeoffrey]

I began my investment journey at the age of 27, primarily through hard work and dedication. I'm to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier it is not about achieving quick wealth, but rather ensuring long-term financial prosperity

[nickmeyer]

25. ~88k saved and invested. But a few years ago I was homeless sleeping on park slides and benches. Crashing on couches. Enough was enough. Busted my ass saved every dime. Bought used clothes. Lived out of a backpack and a garbage bag. Didn't go out. It was hard. But not as hard as being homeless. I knew how to live cheap because I'd been broke for so long but once o started making money I never let my mind think I had money.

Quit trying to impress people with clothes, big bar tabs, nice cars. It's all a joke.

[aceeman]

30 years old and about $250k in debt. No savings oh boy I am in trouble

[komalshah]

17 and 2k saved on my own, need more 98k in 16 years....

[enzomonti]

That is the story of my life Mr. Wonderful,

I am 33 and I have saved in 5 years around 100k. By working hard, saving and investing as much as i could.
I still remember when I was 28 and I came to NYC alone and with $550 in my pockets. ..thank you 🇺🇸

[Aziz__]

It really made no sense to me when he said ''It doesn't matter whether I'm right or wrong, whether the market goes up and down. I'm good regardless''. People are really losing a sh*t ton of money out here. I personally have been buying stocks since the beginning of the year and yet nothing's changed, but I've been reading articles of people still in the same market pulling off over 350k in just a couple months. Its tough out here!

[summerrr]

450k at 33 and it’s been a real challenge

[lamplove]

FINALLY started this year at 33 y/o. Now $20k in. $80k to go

[jacobchristian]

33 in a few weeks and have around $350k.

Tossed more money at my student loans than I did my rent for the first 2 years. After those were paid off, took the money that was going to student loans to max out 401k. And every raise I ever got went directly into my retirement fund. Forced myself to be able to live on the same take home pay I had when I first started working.

[chelseamurray]

Just turned 33 😁 started my FIRE journey last year 🙌🏻

[ericg]

Just turned 33 last week and my 401(k) finally hit $100k. Slacked off in my 20s and have really been buckling down these past few years. It can be done!

[morganyoung]

I’m 17 with around 10k saved but I’m planning on diverisifing my income and paying for university with little to no debt

[Profitglutton]

This is my goal. I’m 30 at $60k, turning 31 in a few months and working towards it right now. 2 more years out and I’ll hopefully hit my target.

[DaveLotito]

I'm 27 and got well over 125k saved and invested. Have been fortunate enough to be educated on the value of a dollar and hard work. Worked through high school and college and saved my money and always bought everything in cash and not financed. Definitely can be done, just need some discipline.

[andromedamars]

33 next week and I’ve got $23000! Also $245000 in student loans. I’m a lawyer and didn’t start working until I was 28!! 😭😭😭

[eliking]

I’m 32 and I’ll be a millionaire by the end of 2021 or sooner. Assets pay!

[shivenpatel]

I just turned 25 years old and have a total of 105k saved. Believe me it's possible, watch your spending and the numbers will grow