This is the age when you should have at least $100,000 saved, according to KevinOLearyTV. (via CNBCMakeIt)
Although "Shark Tank" star Kevin O'Leary says he doesn't like to "peg a number" to certain financial milestones, he does believe there is a point in one's life where they should have at least six figures saved.
"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 tellsWhy 33? O'Leary says it's the "tipping point" in a person's life when they have to focus on saving money and if they don't, they fall "behind the eight-ball."has shown that a majority don't even have $1,000 saved — he says anyone can do it if you start saving early enough.
"I'll tell you how: You save 20% of your paycheck and you let the market grow at 5% to 7% a year [and] you can get to a $100,000," O'Leary says., 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.
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