Kevin O'Leary says: Is it reliable to save $100,000 by the age of 33?

His plan is very simple: starting from the age of 23, save 20% of his salary every month and invest in products with an annual return of 6-7%. After 10 years of compound interest, saving 617 dollars a month can grow to 102,000 dollars.

Data validation: Based on the median income of $37,000 for Gen Z, 20% would be a monthly savings of $617. If invested in a fund with an annualized return of 6%, it can indeed grow to $102,000 in 10 years. Should we continue investing? By age 43, it could increase to $287,000, and by age 63, you'd definitely be a millionaire ($1,235,000).

But there is a prerequisite: you really need to stick to saving for 20 years. Moreover, with promotions and salary increases, if you continue to save 20%, the growth rate will be even faster. If your starting salary is above the median, you can reach the target earlier.

Key point: You don't have to invest in stocks; the employer match can help you halve your investment, and you can still reach a million in 10 years.