"Shark Tank" investor Kevin O'Leary is impressed with how Los Angeles-based millennial Graham Stephan is handling his money. The 30-year-old real estate investor and YouTube star earned more than $1.6 million last year and saved about 99% of it.
O'Leary particularly likes how Stephan, who became a millionaire when he was 26, is aware of his expenses and, despite being such a high-earner, still saves money data-test=”Pullquote”>It's very prudent to put something aside and just buy the overall market, so you get diversification of your net worth.Kevin O'Leary"Shark Tank" investor
Stephan can buy into the overall market by using index funds, which hold every stock in an index such as the S&P 500, including big-name companies like Apple and Amazon. That way, "when real estate slows down, you have other investments that can continue to perform," O'Leary says.
But overall, Stephan is on the right track: "On a scale of one to 10, with one being a horrible saver and 10 being brilliant, I'm going to give him an 8.234. He wasn't a 10 because he didn't diversify enough, but he's really good at staying focused on saving and making money."
Watch O'Leary's full reaction to Stephan's spending and savings habits.
