Trading disclosure
The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Learn moreWhen it comes to retirement security, Shark Tank's Kevin O'Leary, Barbara Corcoran and Robert Herjavec have it made, amassing multiples of the $1.46 million nest egg many Americans believe they need to retire comfortably.
According to The Street, real-estate maven Corcoran, 77, is worth an estimated $100 million. O'Leary, 72, who became a millionaire when he sold his software company Softkey to Mattel for $4.2 billion in 1999, is worth $400 million. Tech security pro Herjavec, 63, is worth north of $300 million.
Must Read
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake. Here's what it is and 3 simple steps to fix it ASAP
The tax breaks in Trump's 'big beautiful bill' expire after 2028. Here are 4 moves to make before the window closes
Notably, none of them have retired, even though they have the money to do so. They keep on investing, building both their wealth and their brands as celebrity millionaires — followed by millions of people of all ages, including older Americans.
But all three Sharks have advice that retirees in particular would do well to heed: avoid mixing money and family.
"Money complicates relationships, relationships with your friends, family … so when you don't have a lot of money, things run smoother," Corcoran told CNBC Make It.
Here's what these sharks do to prevent money conflicts with family, and why that's especially important for retirees who may not have the level of wealth that they've achieved.
Sharks don't loan money to family members
Herjavec made his position on money and family clear in a social post, saying he keeps business and family separate. All his adult children have successful careers, but he hasn't hired any of them or partnered with them on business ventures.
"I will never lend money to family and I won't invest with family," he said. "I will give money to family if they need it and there's a good reason."
O'Leary follows the same playbook and applies the strategy with immediate and extended family members who come to him for cash.
"I don't want to loan anybody money. I don't want anyone to owe me or to drive a wedge in my family," he told Business Insider. "So, instead, I'll agree to a one-time gift."
He makes it a generous gift and does so happily, not expecting repayment. Then he shakes on it and tells the recipient they are never to talk about the gift — or ask for more money — ever again.
Story Continues