Kevin O'Leary's mother hid an investment account from both her husbands — and died a wealthy woman
Kevin O'Leary discovered his mother, Georgette Bookalam, was a wealthy woman after her death. She had managed to keep an investment account secret from both of her husbands for her entire life. O'Leary, a Shark Tank entrepreneur, credits his mother's investment philosophy for shaping his own approach to investing. Bookalam put away 20% of her salary from a job at a children's clothing company and diversified her savings between large cap stocks and telecom bonds.
While O'Leary doesn't follow her exact strategy, he emphasizes the importance of regular saving and diversification. At the time, financial independence for women was limited, as they couldn't open bank accounts without their husband's signature until 1964. This made it crucial for women to have some form of financial independence, such as keeping money in a personal account.
Written by urgent.news from Yahoo Finance's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
