How to Get Wealthy in an Economy Broken for Young People | Scott Galloway

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Intergenerational theft and the cramming of prosperity into seniors’ pockets is creating a flawed economy that is weaponized by rich people and broken for young people, says NYU Professor and serial entrepreneur Scott Galloway. Galloway spoke with Kyla Scanlon about worrisome trends he sees for young Americans, the formula for becoming wealthy, and how to win in a capitalist society.
His new book, ⁠The Algebra of Wealth: A Simple Formula for Financial Security⁠, is available for pre-order.
The content of the video is for general and informational purposes only. All views presented in this show reflect the opinions of the guest and the host. You should not take a mention of any asset, be it cryptocurrency or a publicly traded security as a recommendation to buy, sell or hold that cryptocurrency or security.
Guests and hosts are not affiliated with or endorsed by Public Holdings or its subsidiaries. You should make your own financial and investment decisions or consult respective professionals. Full disclosures are in the channel description. Learn more at Public.com/disclosures.
Past performance is not a guarantee of future results. There is a possibility of loss with any investment. Historical or hypothetical performance results, if mentioned, are presented for illustrative purposes only. Do not infer or assume that any securities, sectors or markets described in the videos were or will be profitable.
Any statements of future expectations and other forward-looking statements are strictly based on the current views, opinion, or assumptions of the person presenting them, and should not be taken as an indicator of performance nor should be relied upon as an investment advice.

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10 апр 2024

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Комментарии : 1,3 тыс.

@Mr-sweeny 10 дней назад

My aunt passed and I inherited some of her portfolio and cash savings, I’m 28 with about 400k cash in savings and as usual everybody’s preaching invest, so what stocks are a good long term buy, only major purchase I intend to make is buying a home in 5years from my returns

@Dannyholt33 10 дней назад

Lucky you, I’d buy a lot of tech stocks and Dividend portfolios with that.

@mikeroper353 10 дней назад

Don’t come to RU-vid looking for RU-vid advise, instead contact a fiduciary for proper guidance.

@PhilipDunk 10 дней назад

Same, I just use RU-vid for research purposes, I run all my major investment through an investment adviser, the market is just too unstable to handle things on your own.

@PatrickLloyd- 10 дней назад

How do I reach out to a financial advisor, my portfolio has been struggling since 2022 and I’ve been holding on by the skin of my teeth.

@PhilipDunk 10 дней назад

Amber Dawn Brummit is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

@shellylofgren 6 дней назад

For boomers and senior citizens, the current market and economy are unnecessarily harder. I'm used to simply purchasing and holding assets, which doesn't seem applicable to the current volatile market, and inflation is catching up with my portfolio. My biggest concern is whether I'll survive after retirement.

@shellyhayn 6 дней назад

Just buy and invest in Gold or other reliable stock , the government has failed us and we cant keep living like this.

@Walter_hill_ 6 дней назад

Yes, gold is a great investment and a good bet against the devaluating dollar, been holding some for awhile now, I’m grateful my adviser’s moment by moment changes in the market are lightening quick, cos who know how much losses I would’ve had by now.

@Trevor_Morrow_LTD 6 дней назад

that’s some interesting numbers, mind revealing this person guding you ? he/she must be a seasoned advisor

@Walter_hill_ 6 дней назад

Vivian Jean Wilhelm is the licensed advisor I use. Just google the name. You’d find necessary details to work with and set up an appointment.

@Trevor_Morrow_LTD 6 дней назад

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

@austinbar 21 день назад

Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.

@rogerwheelers4322 21 день назад

Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.

@joshbarney114 21 день назад

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.

@FabioOdelega876 21 день назад

I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?

@joshbarney114 21 день назад

Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

@FabioOdelega876 21 день назад

I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look Marisa Breton Dollard up and send her a message. You've truly motivated me. God's blessings on you.

@Riggsnic_co 11 дней назад

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

@Ashley186fre2 11 дней назад

right now, the US dollar is losing value because prices are going up, and other strong countries are starting to use their own money more. Many people still like the Dollar because they feel it's safe. I'm concerned that my retirement savings of around $420,000 might lose value because of these things and more. Where else can we put our money to keep it safe?

@Jamessmith-12 11 дней назад

Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $3million in that time frame.

@kevinmarten 11 дней назад

How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings

@Jamessmith-12 11 дней назад

Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

@kevinmarten 11 дней назад

She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.

@Libroerina Месяц назад

Can this guy run for president?

@JeffreyGillespie 28 дней назад

Truly moral, competent people don’t run for President.

@SignificantOther11 28 дней назад

@@JeffreyGillespie This is why he would be perfect! He covers really important social/cultural issues as a podcast guest, yet he directly contradicts himself and his values by teaching marketing to kids that will then go on and perpetuate exactly what he explains is problematic under capitalism. Hypocrite through and through.

@LOLBTLOLBT 28 дней назад

There was already a guy, bernie, nobody voted for him

@EffectiveMuscle 28 дней назад

He can't change the game; all he can do is teach you how to play it. Do you think it's possible for any one person to change the capitalist system?

@noobmaster5434 28 дней назад

This is exactly what I want to ask

@prettyprincess8187 21 день назад

Came from his ted talk. As a 26 year old professional, this man GETS IT. This country was not built for us. All of my age cohorts are struggling to fight an uphill battle if their parents weren't already well-to-do.

@vincentolivieri4468 14 дней назад

The people in power are our parents generation. They wont take a step back for us.. im just seconds in this video so wondering what he is gonna say but i know that these guys have our money. How can we take it back? Maybe elderly care etc? They almost all unhealthy too so opportunities there. Money is where pain is. Greedy Bastards fucked up the whole economy. If i make double what my parents make now. I can buy the same house. But im not 55 with 35 years experience and up in wage scales. Im even higher education etc. Revolution is needed

@Curtis1900 5 дней назад

This makes me feel like a bit less of a loser and have to remind myself. We were put in a battle we weren’t ready to fight. Not saying it’s not impossible to claw your way up to the top. The average cost of homes our parents and there’s paid for are what we pay for a new car now. I’m gonna hold onto as much money as I can and live quietly

@sethsorensen6431 27 дней назад

Gen Z? Want to own a home? Want to have a retirement? Want to have a chance at life? Become a sociopath. That’s the highest paying skill in America right now.

@Bai_Su_Zhen 27 дней назад

There won't be retirement for gen Z at this point whatever you do.

@Someone-ji6ni 26 дней назад

@@Bai_Su_Zhen Retirement isn't even a thing for most middle-aged people right now. Nobody can imagine actually retiring and living off their savings for like 10+ years unless they were in a government service job.

@Iquey 14 дней назад

Landlording, house flipping, prison janitor? Nursing home administration?

@ZeikCallaway 7 дней назад

I wish this was a joke but there's a reason most of the highest paid jobs in corporate America are occupied by actual psychopaths.

@Curtis1900 5 дней назад

Gen z millennials have too we’re just quiet about it. The elder millennials had a shot at that but my gen 90’s kids can’t. Me and my wife are in our early 30’s and we both said I guess we gotta try to be content creators if we want to live comfortably or add to our 2 side hustles

@mikes2974 Месяц назад

I’m in my late 30s and Im seeing all of these issues that’s he talking about with friends, family, and myself. He recognizes what’s going on and is calling it out for what it is. Great Interview.

@NuanceOverDogma Месяц назад

This guy shills for the establishment and is part of the problem

@milesnason6308 24 дня назад

Hhbh h .

@gagnepaingilly 13 дней назад

I began working at 18, strived and grew my portfolio to 600k by 33. Recently, lost over 30% and want to mitigate risks. Also, planning to buy a home soon and want my portfolio to grow to a 7-figure ball park so i can retire in 9 years.. What should I do?

@84gaynor 13 дней назад

I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor like Azul to ensure appropriate retirement planning.

@Shultz4334 13 дней назад

IMO, Adding JEPI and JEPQ is smart for retirement. As for staying committed to low-risk investments, it's all about balancing your risk tolerance with your long-term goals.

@velayuthman 13 дней назад

De-risk your portfolio, shore up your core holdings, and take some profits while balancing your portfolio allocations. I’d also suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I. We've made over 80% capital growth minus dividends.

@kashkat987 13 дней назад

@velayuthman I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation??

@efwfew 12 дней назад

she sucks dont go to her

@Patriciabanks5 11 дней назад

These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.

@ritalorrigan 11 дней назад

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $500k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.

@KevinClarke9 11 дней назад

Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2020, and I return at least $30k ROI, and this does not include capital gain.

@ScottArmstrong12 11 дней назад

Would you mind telling me how to contact this specific coach using their service? You seem to have the solution, as opposed to the rest of us.

@KevinClarke9 11 дней назад

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’CAROL VIVIAN CONSTABLE” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

@ScottArmstrong12 11 дней назад

Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.

@dallenpowell2745 Месяц назад

I turn 30 next month and I'm the poorest I've even been. To say I'm angry is an understatement. The scariest things is that there are people far angrier than me with far less political intuition and economic understanding. There will soon be riots in every pocket of America caused by insane inequality. Greed has turned this country into a monopoly board nearing it's end.

@happyappy19931 25 дней назад

Do you vote for Democrats?

@elro5899 24 дня назад

its not really greed in the upper levels of this conspiracy ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-EfNMtWN2lCc.html

@DanielRodriguez-gm1ih 23 дня назад

I am in a similar situation. Turning 30 and the poorest I have ever been.

@happyappy19931 23 дня назад

@@DanielRodriguez-gm1ih Everyone is poorer under Biden.

@mactireliath2356 21 день назад

With all due respect, none of the macro actually matters to your personal truth. Spend too much attention on what everyone else is doing, and that’s time you lost; time you could have spent bettering yourself. Turn off that social media faucet, put some blinders on, and put that energy into bettering yourself and your situation to the exclusion of everything else that won’t be with you up until the moment that your life is over.

@KatoTheKing 24 дня назад

I’m 31 (a millennial) and I make 37K a year. I have no kids. I’m living proof of what he’s talking about. I can’t afford an apartment that’s not income based and those are few and far between. And when I find some, the waitlist is over year long. I’m going back to school in the fall but a lot of the time I feel like I’m so far behind in life, it feels like it won’t even matter by the time I’m finished. Anyway, it’s nice to see someone from an older generation acknowledge the hardships going on and not just saying “young people don’t want to work.” I started my first job when I was 18 and I’ve been working and getting underpaid ever since. It’s scary. Especially once you hit 30. I’m praying for all my generation and the generations after experiencing the same thing.

@Blood5kull 23 дня назад

I am in this boat too. I'm 25, will be 26 in a few months, and I'm sick of working at a gas station while all the people I love moved on. Still live parents, but saved a lot of money where even if i have this as a lifeboat, I am still afraid of something going a rye. Even when there are jobs that pay slightly better, its almost harder to get due to the restrictive requirements to apply for these jobs, where I almost crave to have extreme hardship jobs, easy to get in, where it would cost my life for an affordable living. I don't want to work for the rest of my life to a job I don't enjoy and still have to pay to live just to get by. It feels like this shame is just overflowing me because I am unable to do the things I desire, and it frightens me.

@guyfromdubai 23 дня назад

I was making about that much at 29 but couldnt take it anymore, thankfully had parents I could move back in with for a couple years to figure something out. Ended up going to a web dev bootcamp and my first job started at the same amount as before. Now after about 3 years in the industry and moving jobs a few times im on double that. Still not where I want to be but theres always something else you can work towards that have better returns in the future

@rhythmandacoustics 22 дня назад

Do not go to school. Go become an apprentice.

@GChuk 22 дня назад

Brutal! I think one of the biggest "life hacks" is having people in your corner cheering you on and helping to identify your value. School may help! A mentor in a field you're interested would be amazing if you can find one! I'm rooting for you!

@thegreat9481 20 дней назад

Wishing things go well for you. Don’t give up

@ElprinciLouisXIII 29 дней назад

"Try to be really promiscuous with your positive emotion" is a life changing mantra I live by and cannot recomend enough for anyone reading this! It works!

@jascha9033 27 дней назад

Awesome! Do you remember the rough timestamp of this quote? :D

@jonathanhardy8683 27 дней назад

@@jascha9033 27:34

@amitbanerjee9218 26 дней назад

@@jascha9033 27:35

@amitbanerjee9218 26 дней назад

@@jascha9033 27:35

@renchesandsords 26 дней назад

@@jascha9033 27:35

@mikebrown-ic3ge Месяц назад

First time I really listened to Galloway. I'm a Boomer and ashamed what my peers as leaders have done to our society and economy. I wish the good gentleman Galloway would run for President. All he would have to do is use this presentation as is campaign stump speech, he'd win.

@jercasgav Месяц назад

If you listen to the long form interviews and podcasts by RFK Jr, he totally talks about these same exact issues. The mainstream media just smears RFK Jr and doesn't let him speak these ideas, because he isn't down for the establishment like Galloway. Galloway and RFK Jr see things the same way, and RFK Jr is also really wanting to slow the spending in govt and stop us going into major unsustainable debt like drunken sailors too. This is important, because our inflation right now is just a "hidden tax" from govt printing largely, combined with corps not slowing down their greediness they have had for decades one bit when the consumer is drowning in govt inflation at the same time.

@Pens4Life85 Месяц назад

You're not really THAT ashamed. I mean, come on. You've got it good and it's painfully clear Boomers aren't about to give up their fortunes for the sustainability of the nation

@mikebrown-ic3ge Месяц назад

@Pens4Life85 This is a fine example of how the generations who've grown up with social media quickly --judge-- without critical thinking or further quering. I have spent over 33 years aiding the poorest people on earth, less than $2/day in income, in Pacific Asia, Africa, Central Am. and Southeast Asia leading development projects.. And, as a Black American, I take pride being a unicorn breaking into the US food industry, lifting Black farmers into once prohibitive markets beyond the bigotry of centuries old systems. What might have you done to uplift the lives of the marginalized? You should not so quickly denounce those who are older who are allies to the cause; you're going to need all the help you can get.

@Pens4Life85 Месяц назад

@@mikebrown-ic3ge I had a whole response typed out, but when I kept thinking about you capitalizing 'black' I knew I had zero interest getting wrapped up into a dialogue. I'm just simply not your audience for it.

@blindbubba Месяц назад

@@Pens4Life85nah, you were a random doucher. L

@yourimprovement908 Месяц назад

1. Workshop in your 20's to find something you could be the top 10% in. 2. Find an industry with a 90% + employment rate. 3. Diversify your investments - such as index funds. (Don't buy the needle, buy the haystack). 4. Make a savings vessel (But also have fun, especially if you're in your 20's, just have a savings plan). 5. Recognise how fast time will pass. Invest your money into safe options and let time do its thing (Compounding interest). 6. The top 5 people you spend the most time with are important. 7. Build the discipline to work hard. 7. Wealthy people are (on average) good people. Develop a good character and build allies along the way. > Don't talk badly on other people, try to say good things behind people's backs. > Articulate your good thoughts about other people and tell them.

@matthewcaldwell8100 20 дней назад

But you see how half of these are motivational cliches that don't promise anything specifically, right? "Build the discipline to work hard." Well, no shtt. Most of the people he presumes to advise did that in school. Tell me how it worked out for them. They walked into a job market fucked by his generational cohort.

@nicolle_2944 20 дней назад

@@matthewcaldwell8100you were screwed over by bankers, corporations and government. The same people who tell you to blame your grandparents

@yourimprovement908 20 дней назад

@@matthewcaldwell8100 not reading that essay. Congrats, or sorry to hear that.

@Nightmaretyrant 4 дня назад

@@matthewcaldwell8100It's most likely a bot, ironically doing exactly what Scott is advising against, takeing advantage of ill educated and non critical thinkers for profit which eventually leads to societal collapse.

@DaGenius86 Месяц назад

I love this guy. He's intelligent, witty, funny, wise, sincere, humble and honest. 😂 hard when he just so casually said "i had my fairshare of alcohol and drugs" thats the kind of honesty and display of imperfection that we need more of in all of humanity. We are all people and we all have and had problems. Its not all sunshine and rainbows all the time.

@user-ql4ud9zr7m Месяц назад

He is ignorant and arrogant and out of touch

@CamEats123 Месяц назад

@@user-ql4ud9zr7mI’m curious what gave you that impression?

@Ethan-bu2zy Месяц назад

@@user-ql4ud9zr7mI agree. His statement about not paying enough taxes is just stupid. Nothing prevents him from writing a larger check to the government anytime he wants. Also, his statement about young women are “killing it” because they are all going to college and getting the best jobs. Fast forward 20 years and we are going to have an epidemic of unhappy crazy cat ladies upset at the world because they were sold the bill of goods than feminism would solve all their problems. Young men really do have it the worst. Society has basically shit on them for the past 20 years or so and told them they were unnecessary. Here’s my advice to you young men- instead of spending your 20s doing drugs or alcohol or being depressed, go work on yourself- get a job, learn a trade/ new skills, get in the gym regularly. Live beneath your means. When you start earning more money start a Roth IRA and contribute every month (time is your friend here). The key is to work on becoming the best possible version of yourself. Surround yourself with other goal-oriented individuals. Remember- Comparing yourself to others is worthless as we are all on a different journey. If you do this you will be surprised at how many positive changes happen in your life. There is no short-cut to success. One must do the hard work to get it. Stop whining about how life isn’t fair (it isn’t), embrace the suck and get on with creating a life you will love and be proud of.

@BiffJohnsonIII Месяц назад

@@CamEats123 because the boomer pushed the clot-shot and "global warming" narrative on young people

@Wellwtfallthenamesaretooken Месяц назад

@@CamEats123his skin color. 🧌

@dackerman123 27 дней назад

The most appealing part of Scott Galloway is how much humility he has. Fellow men, please take notes

@Thewillpowereffect 26 дней назад

I’m sure that’s taken a lot of time.

@stocksxbondage 26 дней назад

It’s refreshing hearing a successful person list their failures. He’s not convinced he’s this higher being!

@guy12327 26 дней назад

You can´t rush time and experience. Young men need to be bold or they are too timid. Noone wants a wuss at that age.

@Macheako 20 дней назад

Dude I don’t even know you and you over here telling me to take notes??? 📝 😂

@AMcGrath82 Месяц назад

I was not prepared for this much real talk all in one place, holy shit. I definitely need to hear more from you and Scott. Thank you.

@tyranmcgrath6871 26 дней назад

My last name is McGrath too. What's up, Uncle.

@LIGHTandPEACE 7 дней назад

😂@@tyranmcgrath6871

@terrapinflyer273 3 дня назад

He has a TED Talk that's quite good too.

@robbielanoue2690 Месяц назад

I came from poverty, being raised by a single dad. I became religious at 15 and church culture helped me learn to not gossip and be generous, etc. The strict rules around being loving and caring and at least outwardly pleasant has served me well. I've since left religion behind but I have benefited so much in my life by being encouraging and kind and helpful to others. Some of that is personality - it is natural to be kind and not speak badly about others. I think this, more than my intelligence or work ethic, has contributed to opportunities I've had more than anything else. Being the kind of person people feel safe with is an incredibly helpful asset because people are willing to share their ideas and resources to help you. People want to see a nice person win and some people will even help you along your way.

@patriciamoore51 Месяц назад

I have found this to be so true. I agree 300% with you.

@patriciamoore51 Месяц назад

Few ever write this. It’s a book in itself that good start an incredible movement. Thank you.

@Pens4Life85 Месяц назад

Cool story bro

@robbielanoue2690 Месяц назад

@@Pens4Life85thanks

@robbielanoue2690 Месяц назад

@@Pens4Life85 thanks

@tyul Месяц назад

That rant was the best economic state summation I’ve heard to date

@ptwon7136 27 дней назад

Seriously. I can't describe the relief I feel hearing somebody with the means to preach the truth reciprocating how I feel. We've been getting gaslighted by talking figureheads for far too long so this is very refreshing.

@moons_mind Месяц назад

As far as building character for success I think the most important things I've found are: 1. Creating value for the people I meet (There is always a way to create value) 2. Then I tend to that relationship like a garden where the relationship starts as a seed but eventually blossoms when I need help later 3. The fuel to help that garden grow is by creating positive emotion like Scott said, so that every time someone thinks of you they remember how you made them feel (I avoid negative emotion at all costs) It's not about what you know, but much more about who you know nowadays. I literally have job hopped to larger and more successful companies just by networking. That networking is only possible by building and tending to relationships. Also just throwing as much money as I can into the S&P 500

@NateDohDoubleGee Месяц назад

This is interesting - can you expand on creating value on people you meet?

@moons_mind Месяц назад

@@NateDohDoubleGee that's a great question and I had the same one when my mentor first taught me this haha. Basically look at it like this: Every single person whether they're young, old, rich, poor, black, white, (you name it) has day to day issues they're struggling with. To put it simply, everyone has problems. Where you come in is you can offer to help those problems even if it's doing something really small. For example, a friend of mine I met at my last job was laid off. I, by chance, had also been looking for a new job and had a list of resources I already compiled for myself. I asked her if she had any interest in seeing my list and sure enough she did. Costs me nothing and I know I get to make her day better. Maybe even one day when I'm in need she will return the favor. Does that help?

@ligma543 28 дней назад

@@moons_mindthank you

@RR-et6zp 28 дней назад

nah, just build something that is value-able for others. You're way over thinking it

@RR-et6zp 28 дней назад

@@NateDohDoubleGee nah, just build something that is value-able for others. You're way over thinking it

@kevley26 Месяц назад

I think Scott misses the point about "Billionaires shouldn't exist"'. Its not that they are terrible people and don't deserve their wealth, the problem is that concentrating that much power in one individual, no matter their personal qualities is disastrous for society and undermines democracy. Many of the problems Scott is concerned about have their origins in us having a system that concentrates power in so few hands.

@Pens4Life85 Месяц назад

I have to say I fundamentally disagree with you. Respectfully. Billionaires don't "deserve" wealth if it comes at the expense and exploitation of like 140,000,000 people. Come on. We need to have a moral middle ground economically that's sustainable for everyone.

@kevley26 Месяц назад

@@Pens4Life85 I also think no one can really "deserve"that much wealth, the point is though its not about whether they are good people or not but rather the impact on the rest of society.

@clayton4336 Месяц назад

@Pens4Life85 wealth doesn't mean exploitation. I would agree with anything that protects against exploitation, but getting into deciding what people deserve is such a gray area and extremely dangerous.

@Pens4Life85 Месяц назад

@@clayton4336 what people "deserve" is certainly nothing to do with fiat currency. People "deserve" human rights, dignity, respect, and certain inalienable freedoms. If I work 8hrs/day and make $85,000/yr, how many hours a day do billionaires work exactly? 1500? 2500? 10,000 hours per day? The current capitalism running and being promoted around the world is entirely immoral and unsustainable. Nobody ever gets wealthy all by their lonesome, that's a load of BS.

@madog2226 Месяц назад

Its the fiat shit show, those closest to the money printers reap the benefits from the monopoly money and then they are incentivized to get closer to policy to keep printing the fake money! If money was backed by gold still thus crap wouldn’t be the same

@markgisborne8482 27 дней назад

As someone who is under 40, and ELECTED to local government. You are 100% correct about the cost of permits and the barriers to housing. There is constant push for us to "preserve our neighborhood character" by embalming it with regulations. Whenever more property restrictions are proposed, it is marketed that "the developer" will pay the costs, rather than the existing taxpayers. So the next generation is burdened with the costs and barriers, and the "grey tsunami" that pushes for it don't have to pay for it? I don't think the solution to this problem (local government permits) is more diverse taxation at the local level, but to reduce the amount of permits that are required to pursue economic development on their own property.

@pervasivedoubt150 26 дней назад

Are there any particular types you take issue with? We should be able to shape our towns and cities to prevent harm to others and support infrastructure that works best for everyone without all this personal greed affecting the process, so I’m curious if your thoughts

@philipdamask2279 25 дней назад

Regulations and fees have added an unnecessary burden to the cost of homes that first time buyers can afford.

@Theaverageazn247 25 дней назад

@@pervasivedoubt150 SFH. Nimby stop building in the game of keeping the character. This stops new people from moving in and make property values go up for existing people

@nicolle_2944 20 дней назад

@@Theaverageazn247would you rather as a young person be able to buy a home with a backyard for yourself to enjoy, future children and maybe a dog, or live in a unit?

@duketogo2616 Месяц назад

"You need to find something you're passionate about that you can be in the top 10 percent of that has a 90 percent employment rate". That's one way to phrase it. Another way is that 90 percent of people who try that will fail to achieve that goal. It shouldn't be that hard for the average Joe to make it. The system is broken. My goal is no longer to spend that much effort marketing myself to prospective employers but rather to focus my efforts on arbitrage opportunities and exploiting market inefficiencies and using that to build my wealth. It provides nothing of actual value to the real world but has a much better ROI than those that do something valuable and essential. Better to be a worthless middleman leech in the current system taking a cut out everything you can than to be the guy making himself valuable to other businesses trading his time for money that gets rugged by being made redundant.

@TheSpecialJ11 Месяц назад

I'm personally trying to do both. Day job is working hard in a well paying field (but no after hours work) and night job is studying up on investing and using the size advantage of being a singular person to find inefficiently priced small cap companies to buy.

@UXtatic Месяц назад

👍🏾.

@Adventure-of-your-Life Месяц назад

This is kind of sad but true... I've kind of known this since I was young that this was almost inevitable with the influence of the internet and coming A.I. It feels like there's no point anymore other than gluttonous consumerism to make you happy unless you're attempting to be the first person to travel to Mars. Then you might be able to afford a house.

@mfhfreq21 Месяц назад

If you took passion out of that equation, the rest becomes a bit more manageable and realistic, but still...😊

@OceanBlueKeys Месяц назад

Such a cynical world view, but so true and rational in the current era of late-stage capitalism.

@Seanpfree Месяц назад

So eloquently and perfectly put. 35 years old 77 bids in middle tn for our first house all outbid by cash investors. We've given up and come to the realization we're unable to afford starting a family.

@kty3727 Месяц назад

Just look at the leadership of the two parties. All in their 70s and 80s. Any wonder why they don't look out for our generation's interests?

@jercasgav Месяц назад

You really NEED to leave the popular areas to live. My hometown was Denver, CO, but it became insane starting around 10yrs ago as people kept moving in droves like they are now in TN. When we sold our teeny 832sqft single family starter home we bought in 2008 in 2017, there were a bunch of offers on the table hours after the house went on the market. We weren't able to stay in Denver because we had the same bid war issues, and it was just too pricey for comfort even with the equity we gained on our first house. All we had to do was move 2hrs away from Denver to an area in Colorao that is a bit less populated that isn't considered "trendy", and we didn't have the bidding war issues, and the cost of housing is quite literally 1/3 of Denver's!! We have the same wages we made in Denver as the wages are state wide for many companies, but our house is much larger, much cheaper, and we pay so much less living here. There are lots of decent little towns all over the USA that are WAY more affordable simply because they aren't "trendy". BTW where I live now is actually nicer than Denver, esp what Denver has become...lol...the irony of it all! Go off the beaten path to find a home!

@tuckerbugeater Месяц назад

@@kty3727 It's way more complex than that. Who says anyone cares about you and your wellbeing?

@nsiebenmor Месяц назад

There's a third party candidate. Maybe it's times to look at other options if you're brave enough.

@stevechance150 Месяц назад

@@tuckerbugeaterI believe we are all in this together. You sound like one of those "every man for himself" kind of guys. In prehistoric times, you would have been banished from the tribe, just like the sociopaths.

@apcinematography5628 29 дней назад

“You don’t need to find the needle in the haystack… just buy the whole haystack” that’s great

@drewbucher4210 23 дня назад

If you liked that one liner -- look into the "Boglehead" method of investing. It's named after Jack Bogle, the inventor of Vanguard, who is also credited with the popularization of the low cost index fund

@Erico9001 22 дня назад

I'd say that point just was not true though, like... statistically or mathematically. It just sounded good. You do need to put some thought into what you're investing in. Yes, don't put all your eggs in one basket, but don't have... a thousand baskets for a thousand eggs?... if that makes sense? Unless you want to get only like 3% back on average

@apcinematography5628 22 дня назад

@@Erico9001 I mean it is true. The VTI (vanguard total market index) beat most traders last year

@SantinoDeluxe 20 дней назад

hes also talking about dollar-cost averaging when he mentioned his buddy at 10:00, so you get an ETF, you feed it monthly, it grows over 30 years... you never have to think about what, when or how to trade. you just need a strong savings muscle outta curiosity i did the math, $2k initial investment, $200/month, 30 years, 14% average annual growth = $1Millon ($75k was from deposits, the rest from interest)

@tedm8492 26 дней назад

Scott I listened to your Ted talk, and now RU-vid wanted me to watch this video and it did not disappoint. Great questions Kyla, and great answers by Scott.

@kevley26 Месяц назад

Scott is definitely right about us having the hard part figured out. The US is exceptionally wealthy and many countries around the world struggle incredibly hard to reach the same level of development. Yet, we are stabbing ourselves in the foot through simply bad policy choices where we already know what would fix the problems. From wealth inequality to healthcare to the housing crisis we already have known solutions to these issues. The problem is that we have a broken political system that is simply not implementing them.

@silvertone1 Месяц назад

I'm in Canada and no joke...just due to our healthcare and welfare...life is so easy for everyone. We have nobody truly suffering like i see when i go into the usa. Even the poorest can find a home and eat...and healthcare is always the same deal birth to death.

@RigelOrionBeta 29 дней назад

Thing is, we don't have the hard part figured out. I don't think technological progress is hard. It's actually incredibly easy if you don't care whatsoever about anything else. Which is the situation we find ourselves in. We have an economic system that allows the rich to get richer. We have an economic system that prioritizes rich companies getting richer. That makes technological progress easy. The hard part is making sure the success that comes from that is distributed properly.

@gorkyd7912 2 дня назад

@@RigelOrionBeta This economic system was the hard part. It took 2000+ years to figure out the exact thing you think is the problem. What you're describing is just feudalism. You think the right people are not getting enough money so you would put yourself on the throne and take from those who are rich and give to the people you think deserve it. You take all the technological progress for granted but I assure you it will all disappear when you start shafting makers so that your favorite takers can have an amount of resources that your mind thinks is fair. This is basically a divorce and you are placing yourself in the position of judge to decide who gets a family's money. The family is society. And when you take it all from the working parent and give half to the one you think works harder "at home" without getting paid, the working parent will stop working so hard.

@SamuelBarbour-qc3sz Месяц назад

What I'm taking from this interview is: 1) wealth reflects virtue (and implicitly poverty reflects vice) and 2) government redistribution of income is bad.

@regularbeaneater Месяц назад

I took #1 as well. Yikes!

@merrytunes8697 28 дней назад

Yeah, I don’t know if I can listen to all he said. I agree, you became a billionaire by taking a portion of someone else’s labor value.

@matthewcaldwell8100 20 дней назад

Right, it's business theology larded in with conservative brainrot.

@everythingwave Месяц назад

At 11 minutes. That pause. I have so much deep respect for Professor Galloway. He didn't bullshit her. He is being honest.

@romoore2094 Месяц назад

He's honest but pro big govt. More govt means less freedom. If you open the markets to competition you give the people choices and it'll naturally weed out the bad actors bc ppl won't use those services that are too expensive

@irishScott2 Месяц назад

@@romoore2094 We had that, it's called the beginning of the industrial revolution through the early 20th century, and it categorically sucked. What happens is every industry gets a monopoly, which then suppresses competition and abuses the populace. It's only "more government" that prevents this from happening by breaking up companies when they get too large. Also OSHA for safety regulations so you don't die in an avoidable industrial accident, modern building codes so you don't burn alive, unemployment and retirement benefits so you don't literally starve to death in old age, environmental regulations so your water is safe to drink and food regulation so your food is safe to eat. You would hate the world you describe, and the only reason you yearn for it is because you haven't experienced it and probably avoid studying economic history because it's "boring". Read up on Company Towns in 1800s West Virginia, that's what you're advocating for, and the coal miners literally went to war over it at the Battle of Blair Mountain.

@misterthomas123 Месяц назад

@@irishScott2 Large corporations disproportionately influenced the government in 1900 like they do today. Back then when American workers striked for better conditions, the "job-creators" convinced their government friends to send in military forces to break up strikes. The fight for unionization in America was brutal, and the government had the corporations' backs until Teddy Roosevelt became President. Backdoor government deals for competition-killing laws and subsidies only fuel monopolies. Monopolies seem inevitable in a competitive environment, but breaking them up doesn't change much either. What's the difference between John Rockefeller owning one large oil company worth X dollars, as opposed to him owning 34 small oil companies totaling the same X dollars? I'm personally grateful for things like work safety regulations and building codes, but ultimately it should be recognized that government is the worst kind of monopoly: a monopoly for legalized violence. If we must have a monopoly for legal violence (and I'm not sure that we do), do you want it to be big or small?

@misterthomas123 Месяц назад

@@irishScott2 Large corporations disproportionately influenced the government in 1900 like they do today. When American workers striked for better conditions, the "job-creators" convinced their government friends to send in military forces to crush strikes. The battle for unionization in the US was brutal, and the government had the corporations' backs until Teddy Roosevelt became President. Cigar room-backdoor government deals for competition-killing laws and subsidies only fuel monopolies. Monopolies seem inevitable in a competitive environment, but breaking them up doesn't change much either. What's the difference between John Rockefeller owning one large oil company worth X dollars, as opposed to him owning 34 smaller oil companies worth the same total X dollars? I'm personally grateful for work safety regulations and building codes, but it should recognized that government is the worst kind of monopoly: a monopoly for legalized violence. If we must have a monopoly for legal violence (and I'm not sure that we do), do you want it to be big or small?

@misterthomas123 Месяц назад

@@irishScott2 Large corporations disproportionately influenced the government in 1900 like they do today. When American workers striked for better conditions, the "job-creators" convinced their government friends to send in military forces to break up strikes. The battle for unionization in the US was brutal, and the government had the corporations' backs until Teddy Roosevelt became President. Cigar room-backdoor government deals for competition-killing laws and subsidies only fuel monopolies. Monopolies seem inevitable in a competitive environment, but breaking them up doesn't change much either. What's the difference between John Rockefeller owning one large oil company worth X dollars, as opposed to him owning 34 smaller oil companies worth the same total X dollars? I'm personally grateful for work safety regulations and building codes, but it should recognized that government is the worst kind of monopoly: a monopoly for legalized violence. If we must have a monopoly for legal violence (and I'm not sure that we do), do you want it to be big or small?

@friarnewborg9213 Месяц назад

"WEALTH is a Whole person project" - nice line, that!

@juliorivas7428 Месяц назад

Thank you for this applicable wisdom.

@tylerkronebusch5642 Месяц назад

Thank you for sharing. To be honest, it is genuinely wonderful to hear people recognize problems but then approach some solutions with a focus on positivity and hope. Really hope this gets traction and spreads. Truly a trend the world around us could use right now.

@tesskansas Месяц назад

New faces and voices.

@iquazar Месяц назад

Probably the most eloquent description of the problems of today I’ve ever heard. Bravo.

@bubbabunny4258 27 дней назад

My parents bought a house 30 years ago for $170k in a nice neighborhood. Now the average cost in that neighborhood is $1 million. These houses are built in 1950. I am now 40 and can’t afford any of those houses. I am consider middle class income. I am now saving retirement money for my daughter who isn’t even 2 yet because I worry about what you said for her future,

@ThomasLupton Месяц назад

Very profound truths. Thank you.

@samadrian1128 Месяц назад

The RU-vid algo brought me to this episode. This is the first video interview that I have listened to with you hosting Kyla and I thought this was fantastic. You have brilliant questions and let the interviewee talk about their topic. At such a young age, you have great potential. Keep up the great content.

@aritalkstech 21 день назад

I have never felt so seen. The gaslightung from a lot of older generation encouraging us to just work hard is disheartening. This is extremely helpful as I approach 30 and set my personal goals.

@klauseba 13 часов назад

My grandfather worked as a train conductor all day every day and in his free time sold tomatoes in the capital far away. He was able to buy big apartments (3-4 rooms in the middle of the city) all 3 of his kids and also a villa with 2 garages and a swimming pool in the heart of the city in east EU. Try doing that nowadays... In the past you didn't need experience/degrees. Nowadays I look at programming jobs and every year they raise the bar of requirements for entry level positions. It's obvious we're competing on a global scale against each other, not locally like it was 50+ years ago. Now it's not just you vs your class mates, it's you vs 1.4b indians, 1.4b chinese, 750m europeans competing for a remote job, and sometimes you vs billion dollar companies or older rich as fk people competing for an entry level house. Good luck!

@g2zeec Месяц назад

The concerns are real. But nobody talks about how much more aware we've become about depression, education and how to develope wealth and how it all ties into the present economic situation. The results are further separation between the wealthy and the lower classes. As it has always been the case, life is about haves and have-nots. Education is still king to a better future.

@Matanumi Месяц назад

Education isn't the answer. Economic opportunity is. And some may be born to have access to neither even in America which is completely fucked

@romoore2094 Месяц назад

Education has become a mind control scheme run by the leaders of our govt thru funding teachers unions. We need to separate those entities

@romoore2094 Месяц назад

@Matanumi so true. That's why so many wealthy ppl are not graduates of university

@Ethan-bu2zy Месяц назад

Life isn’t about haves and have nots, it’s about choices. How are poor Asian immigrants who work hard, save money and prize education and learning for their kids about to rise from the lower to the upper class within a generation? Choices matter folks. More than anything else.

@InnovativeSustainableSolutions Месяц назад

This was your best interview yet. Loved it

@howardcain6122 Месяц назад

This guy is very sound. I like when he said don't talk bad about anyone. Positive emotions.

@Matanumi Месяц назад

Its smart cause you can see how nasty people you think you can trust get when they talk shit about others

@carlholdt1042 Месяц назад

Thanks for all this. Unfortunately I don't see anything changing. Broken governments are trying to fix broken economies by breaking them further

@Bai_Su_Zhen 27 дней назад

They are not trying to fix anything, they are catering to boomers and gen X

@elro5899 24 дня назад

its a takeover ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-EfNMtWN2lCc.html

@Erico9001 22 дня назад

Income disparity is a precursor to all societal collapses so far, so... it'll bite them in the butt one day or another... maybe when they have nobody left to deliver their amazon packages because nobody wants to brave the droughts produced from their carbon emissions

@chipcook5346 29 дней назад

The best part of Scott's message is his emphasis on ending the weaponization of law at local, state, and federal levels against younger people and newer businesses. This means retracting government reach rather than adding programs to supposedly encourage. Unfortunately, for one thing, the young are up against sixty years of treating houses as investments rather than expensive consumer goods. The country has three generations for whom the house is the primary investment. Compound interest is a lovely thing -- unless you are on the other side of it.

@matthewcaldwell8100 20 дней назад

Well it's a good thing entire generations aren't saddled with nondischargeable debt that compounds OH WAIT

@EcomCarl Месяц назад

his emphasis on mastering a skill and developing financial discipline as keys to wealth is both insightful and actionable. It's a timely reminder that true wealth is built through focus, saving, and living within our means, not just earning more. 💡

@OmarTV11 27 дней назад

Kyla, Scott, thank you for this refreshing reminder! Straightforward dialogue of what is going on! “Gamify your savings”, definitely going to give this a shot! ❤

@JackM12345100 Месяц назад

Not sure what I was expecting but this was a great interview. We need more straight, honest conversations like this.

@bendyloco Месяц назад

Great interview, thank you!

@Bradimoose 26 дней назад

I work in high net worth insurance and see the yachts, multiple homes, and lifestyle these people can afford. I'd say the majority are over 60 and have unbelievable wealth.

@DisposableSupervillainHenchman 21 день назад

Imagine the horror of those people having no yacht and only two homes so that others might have a home of their own. What a disgusting concentration of wealth.

@gorkyd7912 2 дня назад

@@DisposableSupervillainHenchman The ultra rich buying yachts are funding many, many people's careers and homes.

@bassjumpaofficial Месяц назад

I love this guy, such a breath of fresh air 👍

@DocTheTrader801 Месяц назад

Loved Scott's older videos, strong points being made we need to solve the housing dilemma

@STELLASCUTENESS Месяц назад

Literally no one wants any development or home construction to take place once THEY have their shopping and housing situation settled. The absence of self-awareness and plain old selfishness is appalling.

@DanniKul Месяц назад

To be successful you need to bring “certain amount of forgiveness, generosity, and love to your relationships”

@that_heretic Месяц назад

The part he left out was ... with your peers. You also need to be willing to exploit people for more than you pay them too. There's not a single seriously successful company (I'm talking the kind that makes a Bezos) in the US not exploiting someone in their direct employ or in their supply chain. Not one.

@merrytunes8697 28 дней назад

If only it were this easy

@DanniKul 28 дней назад

@@merrytunes8697 what makes it so hard?

@jacobmansfield-go9fz 6 дней назад

That has nothing to do with success

@DanniKul 6 дней назад

@@jacobmansfield-go9fz what exactly? The easy part?

@jayd6813 Месяц назад

A few comments - when older people were young: - nearly $1T was not spent on the war industry annually, a complete waste and corrupt transfer of wealth from young and poor taxpayers to war industry execs - the US had not sold out their manufacturing base- the young actually had stable jobs to build a family (writing code for social apps doesn't make stuff) -there were morals and mores and faith - whether true or not, they create stability. Watch a sports add now: alcohol, gambling, and as of late, weed-centered talk show ads (a country with loser mentality).

@ToddMagnussonWasHere Месяц назад

Yeah. By moving industry elsewhere, its a psychology way of saying “we don’t want to be responsible for the future” culture. Two generations later, there are way too many broken ladders from a system where the entire foundation is sinking and cracking.

@mikesteelheart Месяц назад

Yup well said. Also not nearly as large a chunk of their wages went to welfare programs to help others feed their families while you can't even start one. America was pretty much always smoke and mirrors but I distinctly remember everything getting a lot trashier in the late 90's and early 00's (getting worse every year since).

@ToddMagnussonWasHere Месяц назад

Yeah, was in high school in the early 00’s, trashiness did ramp up back then. If it wasn’t Girls Gone Wild ads and MTV Spring Break with Brazilian string bikinis-amongst others Jerry Springer tier television and early “reality TV”, it was Iraq and WMD’s, boners and bombs. It was almost all boners and bombs. Maybe the occasional, “was it really the Middle East that did 9/11?” But for the most part it was all media silenced stuff on anything of truth, at least until Katrina and then the Great Recession. Mid/Old Millennials trying to rationalize being poor by being hipsters thrifting, pretending we weren’t absolutely fucked as a group…

@STELLASCUTENESS Месяц назад

Only someone who didn’t live through the Cold War or any of the previous wars could say we didn’t waste money on the war industry annually. The $1 trillion you quote is inflated, just like the value of your grandparents house.

@katielowen Месяц назад

Morals? Mm do more research about the 60s-80s my friend.. and yet wealth still grew exponentially regardless 😌💯

@DR-br5gb 26 дней назад

The 2 worst mistakes I made were spending too much time getting through university before burning the next 5 years in a failing startup. I made no money during my 20s and sacrificed everything important about my 20s, chasing a dream of financial freedom, ironically enough. Start working as early as possible. Invest as much as possible and spend the rest if your money living life, IMO. Now I'm 35 and finally making 100k but I feel broke, im still single, and generally feel like a loser. I've lost the advantage of compounding interest and hold basically 0 assets during a time when housing is unabtanium. Dont waste your 20s. It's the most important phase of your life.

@herrickkimball Месяц назад

This man speaks wisdom. I’m getting his book. 👍

@stevechance150 Месяц назад

I watch all his videos on his channel. You should also check out Peter Zeihan's videos. Zeihan is less about stocks than Scott is. Zeihan is about demographics, global trade, and the Russia-Ukraine war.

@Mr_Fairdale Месяц назад

@@stevechance150Zeihan makes some good observations on demographics but he face-palms a lot. Watch Sal Mercogliano debunk Zeihan's Jones Act video if you want proof.

@kerplops3966 Месяц назад

I hope this reaches someone that's smarter than I am that can look into this, but you can see this exact extreme where I used to live. In Tyler TX its is almost a retiree city, where all the wealth is sequestered by 50-80 year olds who have old money, a time when inflation was Lower, and have moved to from places like California to TX because of low taxes. So the out of state elderly raise taxes for young people born in the state to a raised cost of living (Let alone buying a house or renting a apartment just to feel some sense of freedom). Since young people have no money they have to get loans, going into dept, then after they have a degree there are no high paying opportunities in Low tax Tyler. Making them have to go high tax states to find jobs that will technically be paying, the young person with the degree, less. I not that smart, so there might a huge mistake with everything i just said so please let me know but, this is just how I feel from living it. I feel hopeless that "HardWork" even matters, in my experience its always been, "Oh, you know Joe?! When can you start?" idk this may sound bleak but I feel like it would take a new war, to create a new of generation of baby boomers because I feel like having kids would be a financial suicide for me and my child.

@ThomasLupton Месяц назад

Yes I’m 62 and have felt the impact of what he talks about here for most of my life. Only began figuring some things out in the past 10 years

@tuckerbugeater Месяц назад

your life was easy mode

@Matanumi Месяц назад

Try being a 20 or 30 year old today. You had it easy bud

@SoloSyndicate Месяц назад

I love these two humans individually and am so happy to see them in a discussion together

@norriswilliamsofficial Месяц назад

This young lady is amazing....sending this to my nieces and nephew's immediately

@matthewsfan41 Месяц назад

One of the most informative and to the point dudes I’ve seen lately. I’ll buy the book 👍 Thank you. Great interview

@Yourmission9 Месяц назад

What Scott said about helping youth (paraphrasing) to become economically successful and how we’re not doing that is not only true it’s an epidemic. I’m on the oldest end of Millennials. I have kids in private school not because I’m rich, but because I’m doing my utmost to invest in their future because as parents we want our kids to be both better than us, and more financially sound than us. If we’re not doing that then you’re looking at the “Four Evils Campaign” where (in this case) wealth is eradicated for the youth, and it goes on to cause severe strain for the rest of the population.

@RonWolfHowl 26 дней назад

Crazy that I haven’t heard anyone say all this in one place, and with compassion more so than with anger. Great stuff.

@jimmymena5536 Месяц назад

I love this guy......he speaks the truth

@frequentlycynical642 Месяц назад

I'm in the front of the wave Boomer. I couldn't agree more about the straits our young people are in. My several post-high school grandchildren are doing O, but not super. The wealthy own the K Street lobbyists and Congress. Every attempt to tax some of that wealth has gone nowhere for decades.

@gorkyd7912 2 дня назад

As a non-boomer, I have absolutely no interest in taxing the rich or any more of these brainless ideas coming from people with no understanding. The amount they pay is irrelevant. It so happens they pay more than everyone else but who cares about this? The federal government, one of MANY, MANY governments in the US, spends 6.5 trillion in one year. That's $20k for every person in the country. Taxing the rich more will do nothing but accelerate the destruction of our economy. The rich do a better job funding and helping the poor than the government does. The rich pay people who work a real wage, the government pays people who don't work just enough to survive. It's the WORK of poor people that drives wealth creation, the builds the infrastructure and property that poor people use to live. Funding people who don't work just multiplies poverty. The government funds the poor non-working people who rob the poor working people.

@MichaelChengSanJose 29 дней назад

Surprisingly deep dive into building a good life with wealth as a nice side effect. I’m a few years younger than Scott, but I do see a lot of the issues we’re contributing to.

@millionmichael3779 Месяц назад

What wisdom and a much needed reality check. Eloquently and honestly put. Thank you Scott Galloway. - from a 23 year old

@mr_0n10n5 Месяц назад

I'm one of the young people who did everything he was told to do in order to succeed and did those things and by all the metrics of society, I should be successful. But I'm struggling This is mad scary 😂

@gorkyd7912 2 дня назад

If you want above-average results don't do what everyone else is doing which would be by nature average.

@mr_0n10n5 2 дня назад

@@gorkyd7912 on paper, I'm doing about as well as my parents did when they were 30. I'm 21.

@thomasemmet2177 Месяц назад

Can’t get enough of listening to Scott. His wisdom acquired over a lifetime is masterful.

@ryanpatrickmcmullin6620 Месяц назад

Speaking of giving a compliment, this was an excellent convo and going to share with my siblings who have preteens

@NewTXRealty 27 дней назад

Thank God I figured this out in my last 2 years of high school! No one cares about what you want to do. It only matters what can allow you to take care of yourself and your family!

@beckybnyc322 28 дней назад

I appreciate the focus on SOLUTIONS 👏🏼

@talisikid1618 Месяц назад

That’s the problem. Wanting to get wealthy at everyone else’s expense. This needs to be restricted, regulated, and punished. Instead, cooperation, community and accountability need to be pushed and rewarded.

@martinlutherkingjr.5582 Месяц назад

Less government will get you most of the way rather than trying to further restrict markets.

@that_heretic Месяц назад

Our economic system rewards psychopathy and sociopathy. If you want to change these incentives you need to replace the people currently setting them.

@Rob-me8vp Месяц назад

I agree with him to a point: -young people are making poor college choices and going to colleges that are way too expensive but they are buying a big name, plush facilities and sports teams instead of just an education. -young people don’t have a bunch of roommates like in the past. I lived with 5 guys. It was cheap and fun as hell. -buying outlandish cars instead of a beater. -homes that are big and have a lot of amenities. Since the 1950s houses have gone from 1500 sq ft to 2500 sq ft. -additional services that weren’t there before ie phone cable etc yes many of these are necessary today but Netflix isn’t. -getting married later or not at all. Now you are paying for housing by yourself instead of splitting it with a spouse. Plus you’re getting taxed at a higher rate. These factors need to be included as well.

@silvertone1 Месяц назад

@@martinlutherkingjr.5582 You are always talking our of your ass parroting the dumbest conservative talking points.

@HelenSinger 15 дней назад

I feel the same thing about young people whose best option is to earn a living off YT...they sell a lot of junk and line the pockets of Amazon. Id rather see people rely less on tech to support themselves.

@brettreilly3005 Месяц назад

He's deep. Good shit.

@adriansaw8329 Месяц назад

And straight to the point.

@michaelkarajan Месяц назад

language!

@user-ql4ud9zr7m Месяц назад

He is completely out of touch

@Matanumi Месяц назад

@@user-ql4ud9zr7m maybe only a little bit but what he says has merit

@cantmakeaname11 Месяц назад

@@user-ql4ud9zr7mbot

@Miliblock Месяц назад

Enjoyed this!

@ericklunalpz 20 дней назад

I’ve been recently weaning myself off social media and screen time in general and I feel my attention span improving. I struggled to watch anything past 10-15 mins without losing focus but I enjoyed watching and digesting this video!

@Paul-dorsetuk Месяц назад

From the UK, what an excellent interview, thank you both!

@catface875 Месяц назад

"How to get wealthy" is exactly not the question to ask. "How to build a comfortable life" is a better question. We are partially in this position because of greed to begin with. People wanting to be "wealthy" has always been synonymous with them taking advantage of others. And that is why we are where we are today. War. Crime. Hate. Because nobody wants fairness. They just want selfishness.

@patriciamoore51 Месяц назад

Exactly. I ask myself what things work for me, get quality, don’t need more. Good air, water, home-25k mobile, quality food (not processed), good people & Nature.

@carmel3613 Месяц назад

My thoughts too. Tuned out of this after first few mins. Just more of the same soulless approach to life.

@toddstiers3814 20 дней назад

micro-economics always trumps macro-economics - this is why we have Taxes, use them to fix the individual, selfish focus.

@brandonnull Месяц назад

So articulately explained the current crisis

@eschiedler Месяц назад

I started with $0 at 27 and retired at 38 using Galloway's plan in the 90's-2000's well before Galloway wrote this... it works. But for many it is boring, no smoking, no drinking, no car, nothing fancy, living between rental properties, no furniture, no cars. Etc.

@hadtosaythis Месяц назад

you also had more disposable income at the time. wages adjusted for inflation have gone down consistently since 1981. and that rate is growing faster. that being said... stocks are amazing and im also doing that and im doing way better than most people in my demographic... but in the 80s it would get you a yacht, in the 2000s it would help pay off your mortgage, and today... saving like crazy will get you a 5 digit lump of cash you cant do much with besides buy a depreciating BMW

@198746779838 Месяц назад

How much did you retire on?

@c.f.okonta8815 24 дня назад

How did you go from 27 to 38 and retire within the space of 11 years. That’s nuts

@DisposableSupervillainHenchman 21 день назад

I simply don’t believe that you started with absolutely nothing and in just a decade had the ability to retire. You’re leaving out some key information here.

@Whatthellisthisthing 2 дня назад

You retired in a tent?

@MJ-xk8iu Месяц назад

Very articulate

@SMALLBALLMANAGEMENT Месяц назад

Love this Scott. Keep it up. I wish this could change. Thanks Kyla.

@Slide61 Месяц назад

Great observations on our younger generations and the challenges the boomers (myself) have placed on our youth. Thank you. It does not bode well for our future.

@guy12327 26 дней назад

Scott Galloway is the greatest academic of our time. Actually speaks out on how we are ruining our youth, future and society for no good reason except for greed and narcicisssm. He shows how dishonest a big part of the higher generation ist.

@andrewhart6200 Месяц назад

We are really shitty at cutting up the pie - because the rich cut up the pie! Please keep preaching - we need an advocate!

@silvertone1 Месяц назад

Your comment is very ironic as I bought a pie last night, ate too much..and feel sick this morning.

@lezzulee 28 дней назад

Great Organic moral talk at the end❤..well said

@LizaPierceMauiHawaii Месяц назад

This is a great interview and discussion - thank you

@cyclingphilosopher8798 Месяц назад

An interview that truly tickles the mind. Thanks! Still wondering what Jennifer Connelly is doing in finance all of a sudden.

@nathancourtney94 Месяц назад

Being nice and speaking positively, functionally, inevitably means not externalizing a problem which might require cooperation to prevent or correct. You're effectively saying "shut up about your problems. You attract more bees with honey" which isn't false but it's not righteous and is largely the cause of our problems in the system YOU can't manage to figure out. Sure it's right for YOU individually but collectively or even in your local municipality acting in your own interests cause inner alignment errors in policy and communication. A great deal of statements interpreted as criticism, are listeners projecting their involvement with something as negative or as blame. Just because you're part of the solution proposed, or were complicit in the problem described, doesn't mean the provoking party has any negative sentiment towards you. Never the less, people will consistently and constantly take it that way. It's just a matter of fact, as Scott even points out in the video, people get defensive. Before anyone comments, "you can communicate problems while being positive with tact" You'll need to actually try fixing these cooperative or institutional problems yourself not just delegating or commanding other people to. Coercion isn't consensus. Confidence isn't competence. Bribery isn't personality.

@spartakos3178 23 дня назад

You are not responsible for "fixing" institutions, you are accountable to fix yourself.... which absolutely will be made much easier by not whining about external circumstances and being an optimist.

@nathancourtney94 23 дня назад

@@spartakos3178 I have no trouble doing anything myself. It’s easy to think your outlook and discipline are the solution when you’re short sighted and narrow minded.

@spartakos3178 23 дня назад

@@nathancourtney94 in the most repressive regime imaginable.... your outlook and discipline matter more to your future than systems. In the most equitable of systems.... a shitty outlook and poor discipline will keep you down. No matter what hand you are dealt it always matters more how you play it.

@nathancourtney94 23 дня назад

@@spartakos3178 duh. Are you going to keep complaining about peoples attitudes because it’s throwing off your vibe or are you going to engage in constructive dialogue? If you’re only positive in action while positive in countenance, you’re useless when it matters. This isn’t license or excuse to be needlessly negative but rather, if you ACTUALLY intend on correcting things you need to get used to dirty language. You’re not going to correct this while forcing people to stay positive. Engage with the negativity as exhausting as it may be. If you cannot do that, then be quiet and get out of the way.

@Slattimirputin 26 дней назад

I love being able to learn from this and hear the older generation speak on it. Now how the hell to we bring this into action. seriously. It’s about time.

@LESSERFEW 20 дней назад

This was a much-needed conversation and Scott needs to be on the biggest platform possible to amplify his reach. Very intelligent, and I constantly walk away with more food for thought. Next up on the Joe Rogan podcast 🤞

@mikemcglauflin8985 Месяц назад

There is no "we". I hear this continuously in conversation but this is the problem. Understand that individuals make choices.

@avivrazon4252 Месяц назад

Some extremely wealthy people are huge assholes.

@DisposableSupervillainHenchman 21 день назад

Yup. Direct correlation with sociopathy and wealth.

@Ryan-ud8tx Месяц назад

Lots of wisdom here, thanks so much!

@frontier6937 Месяц назад

great points - agreed - when one is young, one has the energy and health to produce, and those are years to do it - to set yourself up for your later years, because as you get older, it gets much harder.

@bighoss8793 Месяц назад

This guy is all over the place.

@first001 Месяц назад

People are too beaten down and anxious to challenge him since he can speaker confidently since he can live on passive income and wishful thinking

@macd7743 Месяц назад

This man, Professor Galloway, fucking gets it. He gets everything from the big picture to the little one. This is the quality of person America needs running things, spearheading the making of policy.

@schwerpunkt7687 Месяц назад

Slurp

@playreach360 3 дня назад

I started working about 8 years ago and I am about to turn 30 in a couple months. Its hard for me to look at my future in a positive light so I dont. I just live day by day regretting moments from my past and being afraid of my future. Im pretty sure I'll figure out my life eventually but right now the things I want just feel unreachable.

@youtubepadre Месяц назад

14:36 the way I almost threw my phone at that sobering anecdote

@MrCashParanormal Месяц назад

Glad I’m not the only one

@Libroerina Месяц назад

Holy f****n s**t

@WheelerRickRambles Месяц назад

Your retirement number is based on ‘when ya gonna die?’. As a former financial advisor…I was asked all the time ‘How much do i need in order to retire?’ I would ask the above or rephrase ‘How long ya ginna live?’ Money ya have + money coming each yr divided by the years ya got left = how much ya can spend each year!