Kevin O’Leary, often called Mr. Called Wonderful, he is known for giving honest and candid advice, especially in the areas of relationships and money.
During a recent appearance on The View with his Shark Tank co-stars Mark Cuban and Daniel Lubetzky, O’Leary made it clear that women need to aggressively take charge of their financial independence. In other words, they should never hand over control of their financial future to a man.
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He pointed out that 50% of marriages fail – often due to financial problems – and emphasized that losing control of your finances risks losing your independence.
“If you divorce your husband, you’re no one in the system anymore,” O’Leary said. He emphasized that women must maintain their credit scores and financial identities. Women can become financially vulnerable without a credit card or a solid credit score.
His solution? Each partner must have their own credit card, plus a shared card for common expenses. He also underlined the importance of an individual investment account to ensure that every woman has her own financial safety net.
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According to O’Leary, the right partner will support your financial independence, not one who will take it away. He advises women to limit how much control anyone, including their husband, has over their money. He wants women to prioritize their financial identity and ensure their assets are in their names.
“Never let a man control your financial destiny,” O’Leary urged. His advice may sound harsh to some, but it is rooted in a pragmatic view of what happens when financial independence is threatened. O’Leary believes that maintaining your own financial identity is the key to personal freedom.
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This isn’t the first time O’Leary has spoken about financial independence. In another recent interview, he talked about a young entrepreneur who had to choose between his fiancée and his successful business. O’Leary’s advice was brutally simple: keep the company. For him, a partner who doesn’t support your ambition and financial journey may not be the right choice.
O’Leary also said his investments in women-owned businesses represent 70% of his total investment income. He attributes their success to work-life balance, perseverance and prudent risk management.
Women make excellent leaders in business because they are generally adept at juggling multiple tasks. “If you want something done, give it to a busy mom,” O’Leary joked.
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This article warns Kevin O’Leary: ‘Never let a man control your financial destiny.’ He Says Divorce Your Husband and ‘You’re a Nobody in the System’ originally appeared on Benzinga.com
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