Barbara Corcoran's Mother Taught Her That 'Money Is Meant To Be Spent'

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"Shark Tank" investor Barbara Corcoran has a simple, albeit unconventional, rule for building wealth, saying on a recent episode of Burnouts that she's "never saved a dime" in her life.

Corcoran, founder of The Corcoran Group, credits her $100 million net worth to a philosophy passed down from her mother, who taught her that "money is meant to be spent."

Corcoran said hoarding or saving money would "take my spirit away." She views capital as a flow — believing that when you have the courage to spend or give money away, it naturally finds its way back to you.

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Corcoran's attitude toward cash isn't just a theory, she said on the podcast. Corcoran has had highs and lows throughout her career:

Spending the windfall: When she sold her business for $66 million in 2001, her first thought was how to spend the money. She eventually gave half of it to family, friends and charities.

The near-bankruptcy pivot: Living without a savings cushion has put Corcoran on the verge of bankruptcy five times. During one crisis, her mother's advice to stop wasting time worrying about money sparked an idea that made her $1 million.

Ditching the business plan: Corcoran avoids traditional business plans because "they only take you so far." Instead, she invests in "happy people" and "personal vision."

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While she doesn't believe in saving, Corcoran is disciplined when it comes to where she puts her money in the real estate market.

Her success is built on a real estate strategy that puts location above all else, she said during an appearance on "Boardroom Talks." She consistently buys properties in the best locations she can find — even if she technically couldn't afford it at the time.

A prime location is the ultimate safety net because, she said, "you can always sell it" regardless of market conditions.

Corcoran's philosophy is a reminder that there's no single "right" way to manage money. What works for one investor—whether it's aggressive reinvestment or prioritizing cash flow—may not make sense for someone else.

That's why having a plan matters. A well-built strategy takes into account your goals, risk tolerance, and how you actually make financial decisions—not just what conventional advice suggests. For many investors, that means working with a financial advisor who can help turn those preferences into a long-term approach that holds up across different market conditions.

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Masterworks enables investors to diversify into blue-chip art, an alternative asset class with historically low correlation to stocks and bonds. Through fractional ownership of museum-quality works by artists like Banksy, Basquiat, and Picasso, investors gain access without the high costs or complexities of owning art outright. With hundreds of offerings and strong historical exits on select works, Masterworks adds a scarce, globally traded asset to portfolios seeking long-term diversification.

Public is a multi-asset investing platform built for long-term investors who want more control, transparency, and innovation in how they grow wealth. Founded in 2019 as the first broker-dealer to offer commission-free, real-time fractional investing, Public now lets users invest in stocks, bonds, options, crypto, and more—all in one place. Its latest feature, Generated Assets, uses AI to turn a single idea into a fully customized, investable index that can be explained and backtested before committing capital. Combined with AI-powered research tools, clear explanations of market moves, and an uncapped 1% match for transferring an existing portfolio, Public positions itself as a modern platform designed to help serious investors make more informed decisions with context.

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This article Barbara Corcoran's Mother Taught Her That 'Money Is Meant To Be Spent' originally appeared on Benzinga.com