The bold, brash reality TV star and millionaire Kevin O’Leary was at Kobo HQ today, giving us the lowdown on his new book, The Cold Hard Truth on Men, Women and Money.

O’Leary, who appears on CTV’s Shark Tank and CBC’s Dragon’s Den as a venture capitalist being pitched new business ideas, spoke with Ellen Roseman the personal finance columnist at the Toronto Star and author of several books of her own. O’Leary had harsh words and stern advice to ensure your retirement plan doesn’t include “move back in with mom and dad.”

“Money is beautiful because it’s binary – you have it or you don’t,” he said.

And having it beats not having it, “Anyone who is in debt is making themselves hugely vulnerable. If you’re in your 40’s and carrying debt….” O’Leary shook his head in dismay.

O’Leary’s book is a wake-up-call that offers practical – at  times harsh –   advice peppered with anecdotes and his own hard-won experience, for every stage of life.

For the boomerang generation, adult children who want to move back into their parents’ home? “Change the locks,” he says. Parents should teach their kids the value of money with an  importance on saving and the good sense it makes to invest long before such things as “moving back in” are even possible.

And credit cards? Simply put, they’re the devil’s tools. “I invest in credit card companies,” he says. And he makes big money off poor suckers (like us), or anyone who doesn’t or can’t pay off the balance every month.

Full of advice, O’Leary had much more to say which we’ll share soon in our upcoming video from our author series Kobo in Conversation.