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Kevin O’Leary has no downside with romance—however he has an enormous downside with joint financial institution accounts.
In an interview with Moneywise final month, the “Shark Tank” investor was requested what he thought of monetary gurus who encourage married {couples} to mix the whole lot—financial savings, bank cards, investments, even monetary identification. His response was blunt.
“That is the stupidest thought I ever heard. It is moronic. It is a very silly factor to do to your self,” O’Leary mentioned. “Anybody who does that’s loopy. Do not try this.”
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Whereas he did not title names, the recommendation was clearly at odds with monetary personalities like Dave Ramsey, who has lengthy insisted that monetary unity is a part of marital unity. In a clip shared on X, Ramsey advised a caller, “You mix the whole lot. There isn’t a center. The preacher did not say, ‘And now you are a three way partnership.’ He mentioned, ‘And now you are one.'”
O’Leary’s view is the alternative—particularly in the case of defending ladies’s monetary independence.
“A girl ought to by no means, ever surrender her monetary independence,” he mentioned. “By no means merge it in with their husband’s.”
As an alternative, he encourages {couples} to maintain some monetary separation—even when they share fundamental bills.
“It is OK to share a bank card and every put 2,500 bucks into it a month,” he mentioned. “However your total financial savings, your credit standing, your individual bank card, your individual investments, your individual financial savings account, no matter it’s, it has to remain in your title.”
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And that mindset is clearly catching on—particularly with youthful {couples}. O’Leary is an investor in HelloPrenup, a platform serving to trendy fiancés create prenups on-line. In line with a 2024 HelloPrenup report, 75% of {couples} utilizing the platform select to maintain their premarital property separate going into marriage. And whereas 79% nonetheless plan to share a joint checking account, the development is obvious: {couples} wish to defend their particular person wealth whereas additionally contributing to shared bills on their very own phrases.
The platform additionally stories that 52% of ladies provoke the prenup course of, and most have lower than $500,000 in liquid property—dispelling the concept that prenups are only for the wealthy. The median web value of HelloPrenup prospects is simply $78,000, and the common monetary disparity between companions is about $250,000, suggesting that on a regular basis {couples}—not simply billionaires—are pondering forward.
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