Retirement Retirement Planning

Barbara Corcoran’s 401(k) Advice Isn’t What Most People Want to Hear

Her blunt money advice might actually save you.

By Catherine Collins

Edited by Laura Hohenstein

Updated Jan. 15, 2026

Barbara Corcoran is a well-known personality in business, TV, and real estate. She often offers direct advice about building successful companies, thinking outside the box, and pursuing your goals even if you're the only one who believes in them. As a multi-millionaire who sold her first company for $66 million and has since invested in numerous other businesses as a Shark Tank investor, many people often ask Corcoran for her advice when it comes to managing money and making the right moves.

However, her advice on spending, saving, and building a retirement plan isn't typical. Here are some of her views on money and her financial advice for younger generations, drawn from several interviews and public comments.

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Don't even look at your 401(k)

In a recent clip from her interview on the Elvis Duran show, Barbara Corcoran advised listeners not to even look at their 401(k)s. She was specifically referring to not looking at a 401(k) balance during economic uncertainty. She says that leads people to worry and panic-sell, and she doesn't advise doing so because of the penalties for people under age 59.5.

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Fear will hold you back

Corcoran says that sometimes, fearing failure holds people back. If you apply this advice to investing in a 401(k), it means that even if you're unsure about investing, make sure to learn as much as you can about your 401(k), the right funds for you, and the fees associated with it. That way, you can be more informed. If you need help, ask a financial advisor for their opinion.

So, while Corcoran didn't talk about fear of failure with respect to 401(k)s, she has a history of asking questions, staying curious, and taking risks when investing in other businesses.

Don't dwell on failure

It's common for people to make 401(k) mistakes, whether they forget to invest their cash or don't take advantage of their employer's match. However, if you follow Corcoran's advice, she tells people to learn from mistakes and then move on.

She said that whenever she made a mistake, she didn't waste any time feeling sorry for herself. This can be applied to 401(k) management, too. If you wish you had done something differently, like invested earlier, don't spend time worrying about the regrets. Instead, start saving now and get back on track as quickly as possible.

Stop waiting for the perfect time

Corcoran says that many people miss opportunities because they're waiting for the perfect time. She says that when people only take action when things feel safe or confident, they miss out on growth. While she's usually referring to real estate or business, this advice can also apply to 401(k)s.

For example, investing consistently over time is typically preferable to trying to time the market when investing in a 401(k). Additionally, even if cash flow is tight, it's still beneficial to invest a small portion of your income in a 401(k), especially if you're in the early stages of your career.

Procrastination is the enemy

Corcoran posted on LinkedIn that procrastination is the enemy of success. She is well known for making long to-do lists and recommends that people wake up and do the task they've been procrastinating on for too long.

This advice can be easily applied to 401(k) investing. If you've been procrastinating on setting up your 401(k), learning about it, updating your contribution percentages, or anything else, take Corcoran's advice and do something about it.

Know your numbers

Corcoran emphasizes the importance of knowing your numbers. That means to be familiar with your income, your debt, your savings, and how much you invest. When you know your numbers and you're familiar with them, you're better able to plan for your future.

A good way to start is to familiarize yourself with your account balances, net worth, and any expenses you pay each month.

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Discipline is better than motivation

Finally, Corcoran often praises financial discipline and gives every company she invests in a report card every six months.

Discipline is also important for retirement investing. Consistent investing over time, preferably on an automated basis, is a good way to achieve your retirement goals. Checking in on your account balance every six months can also give you a good sense of where your retirement balance stands.

Bottom line

Barbara Corcoran isn't known for giving specific advice on managing a 401(k). Instead, she's best known for providing unconventional money advice and encouraging people to take risks and believe in their own abilities. However, her advice applies to managing a 401(k), especially when it comes to avoiding money mistakes. While many financial experts will disagree with Corcoran's advice, it's hard to argue with her incredible success in her personal and professional life.

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