How To Embody A MILLIONAIRE'S Lifestyle | Kevin O'Leary

I keep telling everybody every time we talk about investing, the key is diversification. I feel good about the expense, but I also feel good from an investment strategy that it's not just frivolous and stupid; that I needed to get my money back out of it. I could. That's the whole idea. You want to find a place in life regardless of how much money you make. Well, basically, you enjoy what you do.

[Music]

Miami, you know, when we do picnics in Miami, we don't go to the park. We get on a boat and we cruise around, bringing all the goodies with us. So, I want to spend a little time with you today doing what I love to do—hanging out on the boat with my friends and family. It's great! But really, what I want to talk about is what I call millionaire life hacks. You know, there are certain things you can do to really be productive, to really make your life better and easier, and I don't just mean money. It's not just about money; it's lifestyle, it's health, it's how you look, it's how you feel. That's what we're going to spend some time on today, and why not do it on a spectacular boat with the classic stone crab? Oh yeah, baby!

[Music]

So, the party's in full swing; you can hear it out there, but I wanted to take a break and talk a little bit about millionaire hacks. Okay, yeah, we're on the boat, we're having a big picnic, I think that's great! And before things get too crazy, I thought I want to talk about my sponsor this week: Tiege Hanley. Now, one of the things you've got to think about—and I just brought out the dome of desire—is when you go out on a boat, you're outside, and generally speaking, when you're really spending time walking around exercising, you've got to think about skin care.

Because one of the things you have to do is you want to look good as long as you can look good for, and you don't want your skin to get burned and leathery; it ages you. Why do that? You know, yeah, I'm vain—I get it. So, I use Tiege Hanley. These guys' subscription service is fantastic, and any of my subscribers are going to get a free toiletry bag for these. But they send you everything you need because I don't like to read all the instructions.

But basically, washes, you get a fantastic thing for a scrub. Taking, you know, I use a lot of makeup in television; this scrub is great. But the one I use every day is this one, this AM. This is a moisturizer with basically 20 SPF. So, for sun blocking, right? So just a little squirt of it right on the dome—that's how you protect the dome of desire—and then on my face because I really don't want to get burned. And also your neck area.

Anyways, it's a great deal—check it out! And that's like millionaire hack number one: look good, feel good. You want to be healthy in your older age; you got to start at your younger age; take care of yourself. I'm wearing an aura ring now. This is—I’m not a rep for Oura; I don't own the stock. They're not paying me for anything. I'm using it to monitor my sleep. A couple of things I've learned: if you eat too late and you drink too late, you screw up your sleep, and you don't get that really valuable REM sleep. And you want that REM sleep to stay sharp and feel good the next day.

So really, what you want to do is sleep an average minimum of seven hours and 11 minutes. There's a lot of studies I've been reading this stuff, and you want to go to bed at least three and a half hours after you took your last drink. Now, that's hard to do, and I totally get that, but I've been modifying my behavior by shifting my dinner up an hour. So I'm drinking wine at 7:30, 8:30, and then I stop. And believe me, I'm like gnawing at my hand; I'm so unhappy about that because I love the wine business! I'm in the wine business. But I have to stop three and a half hours before I go to sleep, and the productivity or sleep goes through the roof.

Also, another little—call it a body hack, millionaire body hack—I know a lot of people doing this fasting. So if you finish your dinner at 8:30, okay? You basically don't want to eat again. If you can do it for 14 hours, minimum 12 hours, but you want—if you can kind of wean yourself to 14 hours, A, you lose more weight; B, you feel terrific! But this—your body really wants that break in processing food in your stomach. Just a body hack thing—you will love it!

So basically, finish eating at, let's say, nine o'clock; you do not want to eat again until nine in the morning. But better, eat at 11:30 in the morning, or better even still—I'm not telling you what to do if your doctor has different advice—but don't eat breakfast; eat at lunch. That's what I'm kind of getting into these days, and you feel so much better. And you know, everybody's got their own ideas, but that's another hack.

I want to talk about now—let's talk about investing. Investing is tricky because we may have inflation coming into the market. What matters is worrying about inflation so that interest rates on 10-year bonds, for example, go up. That can hurt stocks, but only if it goes over three percent, which it doesn't look like it's going to happen. But I keep telling everybody, every time we talk about investing, the key is diversification.

So number one, no more than five percent in any one stock at any one time of your portfolio. No more than 20 percent of any sector, like energy or like technology or consumer goods, whatever. You know, you don't want more than 20%. You follow those two rules, you get diversification, and it's very good for you when markets go up and down, but you never get wiped out because you own 80% of one stock or something like that. That's a bad idea.

All right, last, when you buy stuff—okay, buy less stuff, but buy good stuff. I've talked about this ad nauseam. Now, I'm wearing a watch. This is kind of a crazy watch; it's a little blinged out. See that blinged-out stuff going on there? That's because it's Miami! And this is a diamond-encrusted Rolex Daytona. Now, how corny is that? Would I wear this somewhere else? No, probably not. In Miami, it's perfect—the kind of stuff they like here. It's kind of, you know, flamboyant, to say the least.

But as far as I'm concerned, yes, it's an expensive watch, but it's an investment! It's appreciated value. It's up about 30% from where I bought it, and so I feel good about the expense, but I also feel good from an investment strategy that it's not just frivolous and stupid; that I needed to get my money back out of it, I could. That's the whole idea!

So investing really matters—the millionaire money hack is basically making sure you don't blow your money. You can spend it on things, but what you really want are things that appreciate in value. So, you don't need another pair of jeans because you don't need them—because you've got five of them already. Well then, do the right thing: invest in things that appreciate over value. They don't have to be over time. I mean, they don't have to be just stocks, guitars, pans, watches, wine collections—they appreciate!

I know the story about wine. You drink your whole stash; how are you going to get a return on it? You don't have to. I have lots of friends that trade their wines, futures trade their high-end ones, and they profit from it because one becomes more valuable over time—at least French wine does.

So these are just some ideas, and lastly, you know the most important hack in life is—you gotta have fun! You gotta have fun! Like, you really don't want to stress yourself out. I work every day, okay? But I do it because I want to, and I pursue the things that are of interest to me, deals I want to do that mean something to me and the people that work with me.

And that way, it doesn't seem like work to me. I want to get up in the morning and work on it. You want to find a place in life regardless of how much money you make? Well, basically, you enjoy what you do. That's number one for me. You only have so many years; you want to enjoy the stuff you do. That's the key to success. I keep saying this all the time—another sip of lemonade.

Anybody can do these things, and that's what I like about it when you start a business. A third of you will want a timeline on what it's going to take to be profitable. My rule is 36 months—that's three years. If you're not profitable after three years, take the whole thing up behind the barn and shoot it! Complete waste of your time. You only have so many years to get a deal done. You can fail a couple of times; I certainly did, but you need one to work, and that sets you free.

It's not about the greed of money! What I'm doing right now is because I want to. The only reason I can do this picnic on a boat today and enjoy our time together is entrepreneurship. Hard to do this when you're working nine to five for somebody else. It's not a bad thing; it's just that if you really want to set yourself free, you gotta spend a period of your life really working hard.

It's not a great balanced lifestyle or anything, but if you're successful, you do this—and this is worth doing. And I wish the success on all of you! If you like that video, wait till you see my next one. Don't forget to click right over here and subscribe.

Who showed you the way? Was it one mentor that pointed left or right and you found your way? I doubt it! No, the life of hard knocks pushed me all over the place, absolutely. So, what he's looking to is someone else for an answer? Bad idea. All your answers have to do with yourself.