Kevin O'Leary Says Making $1 Million Is 'Almost Impossible'—But Getting To $5 Million Is Surprisingly Easier

If making your first million dollars feels like an uphill battle, you're not imagining it. According to entrepreneur and investor Kevin O'Leary, that first big financial milestone is the hardest to reach. But once you get there? Surprisingly, the next few million come much faster.

"It's almost impossible to make your first million dollars. You work your a off. It's so hard," O'Leary said in a 2023 YouTube video. "What it really takes is having the discipline to not buy sh*t you don't need."

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O'Leary—who built his fortune after selling his software company for $4.2 billion—knows a thing or two about wealth-building. And he's blunt about the biggest roadblock to hitting that first million: people spend too much money on things that don't matter.

He constantly preaches the dangers of unnecessary spending, whether it's a $5.50 coffee or a $15 work lunch when you could bring a sandwich from home for less than a buck. To O'Leary, financial success isn't just about making money—it's about keeping it.

Why Getting to $5 Million Is Easier Than Hitting $1 Million

After finally crossing that million-dollar mark, O'Leary set his next goal at $5 million. At first, he thought it would be just as brutal. But to his surprise, it wasn't.

"It's gonna be impossible," he recalled thinking. "But it wasn't as hard to get to $5 million as it was to get to $1 million."

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The reason? Money makes money. Once you've got a solid amount saved and invested, you're no longer relying just on your job or business. Compound interest, smart investing, and higher-return opportunities start working in your favor.

O'Leary isn't the only wealthy investor to say this. Charlie Munger, Warren Buffett's longtime business partner, famously said the first $100,000 was the hardest to reach. After that, investments start snowballing.

How Fast Can You Really Get to $5 Million?

• Invest $1 million at an 8% return, and you'll earn $80,000 per year—without lifting a finger.
• At $2 million, that return jumps to $160,000 per year.
• At $5 million, it's $400,000 annually.

That's why the first million is the hardest. You're earning from a job or business, making every dollar saved feel like a grind. But once you cross that threshold, your money starts doing the work for you.

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But Is It Really That Fast?

O'Leary makes it sound easy, but the timeline depends on how much you invest along the way:

• No extra contributions = $1 million grows to $5 million in about 21 years.
• Adding $10,000 per year shaves it down to 20 years.
• Investing $25,000 per year speeds it up to 18 years.

Yes, money makes money—but this isn't an overnight success story. If you want to reach $5 million faster, you need to do more than let the market do the work.

So, Is $5 Million Easier Than the First Million?

O'Leary says yes—but only if you're making smart financial moves. If you sit back and rely solely on market growth, you might be waiting two decades to see that kind of wealth.

If you're serious about building wealth, the takeaway is clear: your first million is the hardest, but after that, momentum takes over—if you play it right.

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