Barbara Corcoran Says These Money Moves Separate the Wealthy From Everyone Else
Written by
Jamie Stone
Edited by
Rebekah Evans
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Barbara Corcoran, real estate mogul and star of “Shark Tank,” has built her fortune by making smart financial decisions. She believes that wealthy individuals follow certain money principles that set them apart from the rest. From strategic investments to leveraging talent, these financial moves can help anyone build long-term wealth.
Here are some of Corcoran’s key money strategies that separate the rich from everyone else.
Invest In Real Estate
“Buying real estate is a slow way to get very rich,” Corcoran said in a Realtor.com article. She is a firm believer in using real estate as a wealth-building tool. She emphasized that buying property is one of the smartest ways to grow wealth because real estate values tend to appreciate over time. Whether it’s purchasing rental properties for passive income or flipping homes for a profit, investing in real estate offers financial stability and long-term growth.
Leverage the Talent of Others
One of Corcoran’s top business philosophies is that successful people don’t try to do everything themselves. Instead, they surround themselves with talented individuals who complement their skills. Hiring the right team, delegating tasks and focusing on strengths allow wealthy individuals to scale their businesses and maximize profits.
“I think being able to spot the gift in someone and build up on it so that they believe it and that your business gets all the benefit of the growth, I think is a great gift to have,” Corcoran said to Erika Kullberg on her “Erika Taught Me” podcast.
Spend Money To Make Money
Wealthy people understand that smart spending can lead to greater financial rewards. Corcoran advised investing in opportunities that generate returns, such as professional development, quality employees and business expansion. While many people fear spending money, the wealthy strategically use their funds to create more wealth over time, Corcoran explained to CNBC Make It.
Take Calculated Risks
Successful people aren’t afraid of taking risks, but they do so with careful planning. Corcoran herself took a leap when she started her real estate empire with a small loan, proving that bold but calculated decisions can lead to significant rewards.
Negotiate Everything
Corcoran stresses that wealthy people don’t accept the first offer, they negotiate for better deals in business, real estate and everyday purchases — as she told CNBC Make It. From lowering interest rates to securing better investment terms, negotiating can lead to substantial financial gains over time.
Think Long-Term, Not Short-Term
The wealthy focus on long-term financial growth rather than immediate gratification. They prioritize investments that build generational wealth, such as stocks, businesses and real estate, Corcoran shared on a WeWork article she wrote, rather than spending money on fleeting luxuries.
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