Boost Your Retirement Savings with Kevin O'Leary's 90-Day Number

Kevin O'Leary's "90-Day Number" strategy can help boost retirement savings by focusing on a short-term approach to money management. Individuals should calculate their total earnings over a three-month window, subtract expenses, and allocate excess funds towards their 401(k) or IRA. If the result is negative, re-evaluate spending and create a budget to get finances back on track. By using this method, individuals can establish a stable retirement plan and increase their savings.

Kevin O'Leary, a well-known entrepreneur and TV personality, has introduced a unique strategy called the "90-Day Number" to help individuals manage their finances and boost retirement savings. This approach involves calculating total earnings over a three-month period, subtracting expenses, and allocating any excess funds towards retirement accounts such as 401(k)s or IRAs. If the result is negative, it suggests a need to re-evaluate spending and create a budget.

O'Leary's strategy is particularly appealing for those seeking a short-term, actionable approach to financial planning. By focusing on a three-month window, individuals can quickly assess their financial situation and make necessary adjustments. This method can be especially effective for those who struggle with long-term financial planning or have fluctuating incomes.

The "90-Day Number" strategy is not without its challenges. For instance, it requires a high degree of discipline and consistent tracking of income and expenses. Additionally, it may not be suitable for everyone, particularly those with irregular incomes or significant financial commitments.

To implement this strategy effectively, individuals should consider the following steps:

1. Calculate Total Earnings: Determine the total income received over a three-month period.
2. Subtract Expenses: List all expenses incurred during the same period.
3. Allocate Excess Funds: If there is a surplus, allocate it towards retirement savings. If the result is negative, re-evaluate spending and create a budget.
4. Re-evaluate Regularly: This process should be repeated regularly to ensure continuous financial health.

For those considering the "90-Day Number" strategy, it's essential to remember that it is just one tool among many for financial planning. It is crucial to consult with a financial advisor to develop a comprehensive retirement plan tailored to individual needs and circumstances.

References:
[1] https://www.aol.com/finance/kevin-oleary-explained-live-off-113300201.html
[2] https://www.fidelity.com/learning-center/smart-money/roth-ira-vs-401k