Scott Galloway - “The Algebra of Wealth” | The Daily Show

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NYU Professor, entrepreneur, podcast host, and bestselling author Scott Galloway talks to Ronny Chieng about his latest book, “The Algebra of Wealth.” He touches on tips for young people wishing to build a nest egg for themselves, but also points to a larger system run by senior politicians that repeatedly funnels wealth toward boomers at the expense of younger generations. He stresses the importance of electing officials who represent the average age of the electorate and can actually relate to the issues faced by today’s young middle class. #DailyShow #RonnyChieng #RNC
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Опубликовано:

14 окт 2024

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Комментарии : 941

@calvinl2149 2 месяца назад

Props to Ronny for keeping this serious information still fun to listen through.

@louisvalentino6685 2 месяца назад

That’s what makes the daily show so great

@Axeom 2 месяца назад

I know Galloway well and I'm pretty sure he was miserable throughout this interview lol. He was betting on Jon being there and didn't get the slot is my guess. Not to say I don't love Ronny.

@kmk2525 2 месяца назад

Props? He’s beyond annoying and this conversation was clearly over his head. This guy is simply awful at this, not to mention entirely unfunny

@GarrettMunro 2 месяца назад

@@kmk2525 yeah really wasn't the best interview, Galloway kept getting cutoff and Ronny had a card time following

@enochporch 20 дней назад

no this was terrible and annoying

@debbeleigh1930 2 месяца назад

That was a interesting interview! Non-wealthy Boomer here! I lived paycheck to paycheck most of my life working 2-3 jobs. I ended up working for a large very profitable infrastructure company for 13 years (accounts payable admin) starting at $17 an hour. Only just a few years ago was I able to save for retirement. Each year I got a 3% cost of living increase which I was thankful for. In January I got fired because I made to much money! Corporations only care about profits!

@sophieoshaughnessy9469 2 месяца назад

I know Galloway does a disservice with these sweeping generalizations.

@debbeleigh1930 2 месяца назад

@@sophieoshaughnessy9469 and TDS brings him on to promote his book!

@eddyr1041 2 месяца назад

Must have own company or career

@debbeleigh1930 2 месяца назад

@@eddyr1041 I agree 💯%!

@piccalillipit9211 2 месяца назад

My friend just got fired after 36 years with a company - he was IT manager, the entire team was fired the same day. She was on vacation and got an SMS. THIRTY SIX YEARS...!!!

@lootnscoot50 2 месяца назад

I love this guy. Mad respect for Prof G. Been following him for years, when he speaks, we really need to listen.

@super8mate 2 месяца назад

Agree but this is worst interview I’ve seen of his. I’ve watched dozens. Something was off. I love Ronny too but bad interview this one.

@justinrill2483 2 месяца назад

@@super8mate didn't really work as comedy, because the reality is so depressing. they both tried their best to make it work though

@eugenebrumley 2 месяца назад

This is the most refreshing political discussion I've heard in many years.

@HeadCannonPrime 2 месяца назад

"Old people have figured out they can just vote themselves more money!" This is literally it right here.

@williestyle35 2 месяца назад

And the boomers sure did. Then doubled down and "borrowed" against that extra money they gave themselves.

@marquisgrissom9129 2 месяца назад

Thats the "man" right there vut yall wouldn't listen why, beacuse your patents and relatives taught you fear of the next person through foxy news

@iankellymorris 2 месяца назад

@@marquisgrissom9129you okay?

@doctorf7501 2 месяца назад

Absolutely right

@williestyle35 2 месяца назад

@@HeadCannonPrime as I had commented previously - the boomers not only voted themselves more money - they promptly borrowed against that money and billed us.

@richardblock2458 2 месяца назад

Scott is one of the NYU public intellectuals, along with Jonathan Haidt. Great, unafraid brilliance.

@sergehychko3659 2 месяца назад

"the golden girls and the walking dead", almost made me choke.

@lornafw 2 месяца назад

😂😂😂

@ethangender 2 месяца назад

im still laughing my walking golding dead girls off!

@michaelquellier7502 11 дней назад

You should see his TED TALK. It's funny and insanely smart. He shows an image of who he means by 'The Golden Girls and Walking Dead" ... just about fell off my chair laughing.

@Pangaea83 2 месяца назад

Fantastic! I did an AmeriCorps ViSTa program on a native charter reservation school and I learned so much! I think it’s a fantastic idea for national service. I lived a new city, learned to live frugally, made new friends including an invitation to a sweat lodge, learned some Native Puget Sound language and got a scholarship for completing that year of service. More than anything, We need to start caring about one another again.

@glennwhitney1494 2 месяца назад

An excellent appearance by Prof Galloway - one of his best. Clear, concise, compelling. And a touch of humor. Nice!

@tatianak.-p.554 2 месяца назад

For some reason he really didn't like it (said so on his Pivot podcast with Kara Swisher), but I think it was great, too!

@scarletryane8842 2 месяца назад

Yes, Scott's compelling message on behalf of corporations (his clients) who are hoarding billions paid to them by the American consumer and keeping it from reentering the economy by paying wages that barely allow their employees to cover basic expenses. But sure - blame government policy. Given his client list, too much of a conflict of interest for him to tell the truth.

@JRock4572001 2 месяца назад

I have always said that if young people, by which I mean anyone under 30, voted in the same numbers as the boomers, this would be an entirely different country.

@mr.johnchimpo 2 месяца назад

Problem is, younger people don't have the same numbers as Boomers and half of Boomers haven't worked in 50 years. They literally sit around and wait for election days

@scarletryane8842 2 месяца назад

But if they listen to Prof G and Bernie they will be misdirected away from the real problem though. Like they did voting out people who did real work in Congress and ushered in younger people who so far have not accomplished anything. Prof G and Bernie are always protecting their interests and the corporations that pay them when they speak so no one really learns anything.

@macole4958 2 месяца назад

true

@elainehewitt6813 2 месяца назад

I'm a liberal, always have been and I'm 74. Thanks for the generalization.

@Jkub101 2 месяца назад

how so?

@vincentseidle954 2 месяца назад

i like this guy. i watched a lot of his youtube videos a few years ago. always have to listen to what he says!

@stevechance150 2 месяца назад

He has a weekly show uploaded to RU-vid called "The Prof G Show". You should check it out.

@stevechance150 2 месяца назад

He has a weekly show uploaded here called "The Prof G Show" with his ward Ed Elson. I look forward to it every week. Scott's advice is changing my life.

@jerseymetalmike5111 Месяц назад

He has a great Tedx talk on you tube as well!

@radiumtheatre 2 месяца назад

3:54 "Besides being civically engaged and caring about the world, what can a young person do to make money?". Ronny's a genius

@WanderingExistence 2 месяца назад

He's a terrible interviewer.

@radiumtheatre 2 месяца назад

@@WanderingExistence couldn't disagree more. He's doing a character, like Colbert used to, where you make the questions jokes to keep the interview engaging

@WanderingExistence 2 месяца назад

@@radiumtheatre Ok, maybe the problem is that I'm already engaged into the intellectual capacity of the guest and don't need to be distracted with cheap humor- because that what it was due to making Scott lose his flow right as he was getting into the meaty parts.

@radiumtheatre 2 месяца назад

@@WanderingExistence there's a really boring, non antagonistic version of that interview. If you watch it, Ronny very adeptly moves through the main points of the book, whilst coming across as somebody who hasn't read it and doesn't care. Which is the majority of the audience

@jamesgillespie5057 2 месяца назад

Learn a trade

@benlockspeiser2112 2 месяца назад

Scott Galloway's podcast the prof g show may be one the best out there right now

@makaheng 2 месяца назад

Young ppl, go vote ! Vote yourself into your own better future !

@emmanuel0030 2 месяца назад

For who?

@nurseliz-561 2 месяца назад

@@emmanuel0030Id say the guy who actually has a plan to invest in the middle class by taxing the wealthy and corporations so they pay their fair share.

@wyomii 2 месяца назад

@@nurseliz-561Cornel West then, got it.😉

@nurseliz-561 2 месяца назад

@@wyomiinot familiar with them, but in a quick review of their website I’d say their platform is sound, but do they have the polling and/or backing required to win over roughly half the population? Idk

@wyomii 2 месяца назад

@@nurseliz-561 Getting to 5% of the popular vote gets a party access to public campaign funds. Think of where the green party could go with that. That's more of their goal right now, but they usually only get 2-3%. A little more for libertarians.

@cherray50 2 месяца назад

"Entitled to be enraged." THANK YOU

@Jackolantirn 2 месяца назад

Being emotionally invested in an issue is important. ... The next step is actually doing something about it. A lot of people get upset, but fewer people actually go out and try to implement change. Especially now, with social media, which we can use as an emotional outlet as an alternative to investing effort into changing our lifestyles and habits.

@quineloe 2 месяца назад

@@Jackolantirn but what can you do about it in a bipartisan system where both the major parties together hold 100% of the power - literally 100% of it - and they both vote themselves more money, as Scott says it so well.

@cherray50 2 месяца назад

@@Jackolantirn Totally agree

@pjlevine7010 2 месяца назад

YES. Mandatory service requirement for young people would be a HUGE character boost for the entire country.

@MuradSamadov-n6i 2 месяца назад

I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?

@LarsBergstrom-uh2eu 2 месяца назад

keep contributing! I'd suggest you consider financial advisory at this point in time, remember you are in for the long haul

@LivaHolst 2 месяца назад

I'm in line with having an advisor oversee my day-to-day investing cos, my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio has tripled in barely one year and half, summing up nearly $1m after subsequent investments to date.

@Alejandracamacho357 2 месяца назад

This is superb! I appreciate the implementation of ideas and strategies that result to immeasurable progress. This now leads me to the search for a reputable advisor, mind sharing info of this person guiding you please?

@LivaHolst 2 месяца назад

She's ‘Kathleen Cheryl Constantz’ I suggest you look her up online. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did

@Alejandracamacho357 2 месяца назад

Thank you for putting this out, it has rekindled the fire in my goal. Was able to find Kathleen on the web and sent an email hoping it gets attended to.

@Washougalite1 2 месяца назад

My loan for my daughter's education was forgiven. Thank you so much Biden. I honestly couldn't afford it. My daughter's other loans were forgiven the week before. 😊

@DebNKY 2 месяца назад

Congratulations! ❤

@KK-pm7ud 2 месяца назад

@@DebNKYTheir comment was sarcasm.

@robbwhite13 2 месяца назад

finally some are getting relief. the student loan debt system was a scam, a grift like all the other trickle down nonsense.

@loverofsong9830 2 месяца назад

@@KK-pm7ud It’s not sarcasm. On May 21.2024 THE U.S. Department of Education released this news: “Today's announcement brings the total loan forgiveness approved by the Biden-Harris Administration to $167 billion for 4.75 million Americans. Thanks to this Administration's efforts more than one out of every 10 federal student loan borrowers has now been approved for some debt relief.”

@independent-ts6ys 2 месяца назад

My daughters was too. She has an autistic son and was unable to work because she has him. ❤❤. Now she has a little money re money and her depression is clearing up slowly. 🙏👍✅

@daniellarusso8012 2 месяца назад

Properly quantified domestic socioeconomic data is always so enlightening. :)

@williamhornabrook8081 2 месяца назад

Ronny does a great job hosting the show!

@stephaniewalsh67 2 месяца назад

I have 3 kids in their 20s. They live at home. Everything you said is true.

@treyjohnson1277 2 месяца назад

Always a refresher to hear Prof G talk about these issues. Seems to be one of the few ppl who really get it.

@rosemarywessel1294 2 месяца назад

Thank you a) Scott Galloway for the clear perspective and b) Ronny Chieng for blunt humor that ALL of us born after a certain time can relate to. Very well handled discussion.

@scarletryane8842 2 месяца назад

Yes Thank You Scott Galloway for promoting Walmart's message "we want to pay you more of our billions in cash but the government won't raise the minimum wage so we just can't pay people a fair wage! Alas, it will have to just go into our pockets, thanks to government policies! Yes you all should be so mad at them! And by the way, you should be saving 3-6% of your poverty wages or you have no hope of retiring well. Blame the government!"

@KazKcatta 2 месяца назад

It would be super interesting to have Scott and Jon talk.

@ThinkGenius 2 месяца назад

Same

@marcusgruber4085 2 месяца назад

yeah, or Klepper

@nickwallette6201 2 месяца назад

Definitely. This guy (host) is funny in small doses, but his "angry ADHD" style is a bit much for me. Jon would've set up a game of verbal chess with Mr. G, and that would have been fascinating to watch.

@Colleen-pr3qh 2 месяца назад

@@nickwallette6201i like Ronny’s style because remember the demo is young people they want to hear things in plain English not verbal chess etc

@Q5992vvr 2 месяца назад

Comparison is the thief of joy. I'm glad the interview was kept light and easygoing due to it being on a boring topic - finance.

@psykolikwid 2 месяца назад

Excellent interview. Proud to consider myself a positive contributor to that much needed change. Let’s defend this democracy!

@kokohead333 2 месяца назад

Love and always listen to Scott Galloway!

@joshuawatson1604 2 месяца назад

Love Prof G, great to see him getting more recognition for his work!

@xpanurmind 2 месяца назад

I'm just curious as to where the constant tax cuts for the ultra-wealthy & already rich corporations over the last 40 years fits into this equation of income inequality. It seems like this plan for a ruling-class owned & operated society was setup back in the early 80s beginning with Reaganomics, which is where those tax cuts began

@sarge4455 2 месяца назад

Truth

@ruthslone2992 2 месяца назад

🎯🎯🎯🎯🎯

@kurmit-ih1yn 2 месяца назад

YEP!!!!

@calebgees 2 месяца назад

They want cult leaders with money to be their kings. The Trump "family" is their dynasty.

@janestackhouse8764 2 месяца назад

Agree. When the Boomers were struggling to support a family and not shaping policy.

@akumacode 2 месяца назад

props to Ron Chieng for hosting that interview so well. kept things light, funny, without being too insulting, and also keeping things on topic and featuring Mr. Galloway and his message properly

@j72ashley 2 месяца назад

Always enjoy hearing Scott Galloway

@Lazarus1095 2 месяца назад

I think it's nice that he shows a degree of awareness of what people are facing these days, but the idea of saving money for the future is, frankly, a pipe dream for most of today's young people.

@lorenarodr6794 2 месяца назад

Bet you some of those with the pipe dream of saving money have money for luxuries like iPhones and game consoles. Not to mention nice clothing a new cars. Have you seen the price at Sephora? No cover girl for them.

@muay_khao 2 месяца назад

You can absolutely save and invest 10% of your income.

@bcx1138 2 месяца назад

👆what OP said 👆

@aorihanazari524 2 месяца назад

@@lorenarodr6794 Oh no, the horror...trying to actually enjoy life and have some reprieve from a fudged up world? Not having an iphone or game console or an occasional nice dress or a car you enjoy isn't what is keeping someone poor. Considering also how fast our climate is changing--maybe most of us won't get to his age, might as well YOLO.

@Lazarus1095 2 месяца назад

@@muay_khao Not if your income doesn't even pay your rent.

@harry8201 2 месяца назад

Thanks Ronny for enlightening us

@user-hq4yi4uo5i 2 месяца назад

@harry8201 Thanks *Scott

@scarletryane8842 2 месяца назад

@@user-hq4yi4uo5i Neither Ronny nor Professor Galloway did anything here to enlighten anyone. Jon would have brought up that corporations paid Boomers enough to live on when they got out of school, not like today.

@DGDfan13 2 месяца назад

As a teacher I 100% agree with the forced compulsory service to the country for say 1-3 years (DOES NOT MEAN MILITARY SERVICE) - it would foster care for the nation/future and empathy for fellow citizens despite differences between them

@jakebesaw 2 месяца назад

Scott is an absolute gangster! So glad to see his beautiful mind on display here for people who maybe had not know of his work previously

@Emanon... 2 месяца назад

This is ALL about Reagan and the turn the US took since then.

@ChristyMorris-rh7rq 2 месяца назад

Absolutely!

@qadirbhutta5814 2 месяца назад

What and why reagan did what he did?

@bryanwalsh1107 2 месяца назад

@@qadirbhutta5814 He gutted education for starters, which gave you MAGA and an illiteracy rate ~21%.

@outdoorinwithzach 2 месяца назад

Neoliberalism

@1108bhendren 2 месяца назад

Prof G I listen to you every week on pivot, prof g markets, and most importantly I listen to G Hann read no mercy no malice. You’re an important voice in my life and hopefully the life of the nation.

@TM-yn4iu 2 месяца назад

I'm 68, went through several recessions, lost jobs because of closures - as if walking on melting ice. Several jobs, from up to janitor in a warehouse, cleaning restrooms. First home at 21, economy ruined everything. I was not college educated but I understood/learned and I was not afraid to ask questions. I retired as a Sr manager, I was chosen over highly educated individuals, Masters, PHd, and more. I was very skilled in my position, I interviewed for fun and offered several positions - turned down. But I never forget the challenges and intense worries that i experienced, often smiling and telling all it's ok, knowing i had nothing in my pocket or refrigerator or sharing last dollar, saying I had more. Not rich, but humbled in a home and retirement. Worries for democracy, vote

@kezzt 2 месяца назад

"first home at 21".

@patbeulah6208 2 месяца назад

@@kezzt and then lost it to economic downturn

@kezzt 2 месяца назад

@@patbeulah6208 where does it say that?

@AshraNashal52 2 месяца назад

@@kezzt It kind of seems implied with “economy ruined everything” but the English is ambiguous so… maybe he lost? Maybe not? In either case, no one today is making enough money as a janitor to buy a house at 21 even if they lose it later.

@kezzt 2 месяца назад

@@AshraNashal52 exactly. He bought a house as a janitor at 21, chose not to get a degree and was retired by 68. That's objectively an easy life, in comparison to today's average person.

@davidtromblay9503 2 месяца назад

Ronny is really coming into his own. Love it!

@JD-mm7ur 2 месяца назад

blame reagan for starters

@MrM1729 2 месяца назад

So true! Marginal tax rate was 90% when that bast*rd slashed them to 35%

@scarletryane8842 2 месяца назад

Reagan was all for wages following the CPI. It was the Bush 43 administration that ushered in the new philosophy coming out of Harvard at the time to pay less and people would put up with it. Gore warned of this but no one listened.

@macole4958 2 месяца назад

Trickle-down theory has never worked, and it keeps coming back.

@michaelflores6249 2 месяца назад

started with Nixon's "war on drugs"

@solarlaura3355 2 месяца назад

Reagan started the "Age of Bribery". There has always been some bribery but the Reagan administration passed laws to make it legal.

@LornaT460 Месяц назад

I’m reading this book. This would be great for college age folk trying to find their way.

@Studeb 2 месяца назад

Love Prof G, I watch mostly everything he is in. Him and Gary's Economics are two very successful investors who are still telling the truth, even though they will personally not gain from it directly. Indirectly everybody will benefit from a more equal society, even if people like Elon would rather see it burn to the ground than him not being the wealthiest person on Earth.

@scarletryane8842 2 месяца назад

Prof G is not telling the truth. He's protecting his corporate clients with every word.

@na3rial Месяц назад

Learned about Scott from Pivot and he's never failed to impress me since. He is such a smart man. He WILL profit off of the status quo, but the entire time, he'll be yelling and fighting for change so he stops profiting.

@elizabethperkins5555 2 месяца назад

This guy impresses me every time I hear him speak.

@lovinglight1720 2 месяца назад

Such a great read this will be, The Algebra of Wealth

@dondimon7601 2 месяца назад

Scott Galloway for President please

@MauricioGonzalezFilms 2 месяца назад

Thanks! you sure made ProfG skip his memorized lines and engaged him 😂

@holycrapchris 2 месяца назад

Prof G's talk works better with charts, like in his Ted Talk

@bengaude2189 2 месяца назад

This is so spot on!!!! We need more of this messaging and how can we get these two guys in government !!!!

@NadirToZenith 2 месяца назад

As a person who has been listening to Scott's pod for over a year and half now, I'm proud of him and glad that he's finally getting a platform to spread his thoughts. I have seen him on Bill Maher and TED, but the daily show is certainly more mainstream to spread his ideas to a wider audience. Scott is definitely one of the most important thinkers of our time

@stevechance150 2 месяца назад

The Prof G Show. My weekly addiction.

@aakaankshpothukutchi8526 2 месяца назад

I LOVE SCOTT GALLOWAY. He is my idol. This is the best mashup. My favourite show: the daily show + My favourite professor: Scott Galloway

@benjaminchristensen1674 2 месяца назад

I didn’t know John Malkovich is so versed in business and economics.

@taylorhills9521 2 месяца назад

Scotts podcasts are amazing listen to them weekly and you will become a smarter & wealthier person.

@nathanbeven6037 2 месяца назад

Scott Galloway for President!!!

@nathanbeven6037 2 месяца назад

2024!!!

@kab2599 2 месяца назад

Right? All the people we need in politics don’t want to do it 😑

@fouchi3203 2 месяца назад

@@kab2599 THIS. I'm 33 now and i've noticed most of the smart and honest people who could make a change for the better either don't believe in themself or just don't want to get mixed in a toxic place like politics

@nicksideris2600 2 месяца назад

Scott is a national treasure, ty sir!

@ThunderClapish 2 месяца назад

"Our elected officials are a cross between the Golden Girls & The Walking Dead..." *Preach!*

@lavenderdragonx 2 месяца назад

If y'all have never heard of Scott Galloway, I highly recommend checking out his TEDtalk, it's succinct, it's informative, it's what people need to hear.

@chandleredwards 2 месяца назад

Fellow Boomer Man knows what he is talking about.

@zizendorf 2 месяца назад

@chandleredwards No he doesn't! He's myopic and neglects a large proportion of older Americans. See other comments and show some compassion.

@TheNorthP 2 месяца назад

He is gen x btw

@Mtn603 2 месяца назад

Well said by Scott, internalize that advice, young folks! And vote!

@ROLtheWolf 2 месяца назад

Billionaires are to blame, Ronny! It's that simple.

@regularbeaneater 2 месяца назад

Wowww, Ronnie nailed it on the content and the vibe here. His questions were actually calling out some of the important assumptions that Scott isn't talking about, and he was funny.

@Q5992vvr 2 месяца назад

What a great, smart, mature, informative guest and interview. This was monumentally better than that other guest, Eben Moss-ButtCrac.

@Shadoweclipse1386 2 месяца назад

FANTASTIC interview. This guy was great. Thank you for having him on!!

@Rebel_AF 2 месяца назад

I would give $$$ money to see these two playing drinking games 😂😂😂❤

@williestyle35 2 месяца назад

I didn't know that I needed this till you said it - now I want to see Mr Chen and Mr Galloway play drinking games with economic facts!

@briansounalath 2 месяца назад

I was wondering who this random guy was but I’m glad I clicked and happy DS picked him as a guest, thank you.

@1LadyChat1 2 месяца назад

Great set. Ronnie!

@kooale 2 месяца назад

I know boomers who'll take a big drink of Galloway 24/7. THANKS Chiengo!

@hellion7514 2 месяца назад

The “me” generation has been hoarding all the wealth and decision-making power for decades! Hopefully future generations will not be so selfish and greedy.

@go2cloudbase 2 месяца назад

Wow, Ronny could host the show full time no problem. Seems like the modern day Jon Steward in this clip. Love it! So much talent in the cast of this show.

@scarletryane8842 2 месяца назад

Jon would have asked better questions, and would have addressed the fact that Prof Galloway makes a ton of money as a corporate consultant and coincidentally he did not place any of the blame on the low wages they are paying which don't keep up with consumer prices so that young people, never mind saving 3%-6% (which he tossed off like it was a given) don't have enough money to simply pay rent and eat nutritious food nowadays. At least when Boomers got out of school they made a high enough wage to meet these basic expenses.

@Colleen-pr3qh 2 месяца назад

@@scarletryane8842look. The demo base is young people you have to speak in the TikTok generation terms. I like Ronny’s plain and simple yet englightening style.

@FDR_progressive_liberal 2 месяца назад

Remember old people were young once and contributed to their parents and grandparents well being.

@johnnynephrite6147 2 месяца назад

I think he meant if you save 3-6% of HIS salary cuz Ive been saving 6% of my salary for 30 years already and Its still a knee high pile of scrap copper, not a pyramid of gold.

@cncmillman 2 месяца назад

You need to be investing it not saving. Compound interest is what makes it work. If you put $160 every month in an S&P500 index fund for 30years you would have ~$324,000 dollars. After 45 years it would be 1.4 million after 50years 2.2 million. As you make more try to invest a bit more.

@johnnynephrite6147 2 месяца назад

@@cncmillman What world are you living in? $324,000 is knee high money dude. Now change the number from $160 a month to $1600. Like I said, HIS salary not mine.

@cncmillman 2 месяца назад

@@johnnynephrite6147 point is in 10 years it will be a million. This is investing 6% on a 16 $/hr job. I would say that’s a pyramid of gold if you are only making 16$/hr your whole life.

@cncmillman 2 месяца назад

@@johnnynephrite6147 $160 a month is 6% with a $16/hr job. If you have $320k invested you make the same in investments as the job you work. In 10 years it will be 1 million in investments. I would say that’s a pyramid of gold.

@___beyondhorizon4664 2 месяца назад

Simply put, only spent what you have, even saving $20/week is never too little. I don't go to Starbucks, i made mt coffee at home I go to movies before 4pm, it's cheaper. I rarely go to restaurants, i still did lot's of activity. I volunteer at my local museums to stay busy, i can put it on my resume and briefly talked about it during job interview. When I take a vacation,bi stayed in hostels and met so many interesting international travelers.

@jeffmurphy6021 2 месяца назад

Scott Galloway is the GOAT

@lololllololololol 2 месяца назад

I agree with the guy, but save what money from where?

@factsoverfiction7826 2 месяца назад

He said "3% to 6%starting in your 20s" and you'll be wealthy at his age. Easiest way, have 10% auto-transferred into savings each pay period. Don't worry, it's still yours. Make a game of living on the rest: Can I do without it or get it cheaper? Lots of RU-vid channels on thrift. And you might be under-paid at your current job. Negotiating raises; strategically changing jobs; getting certification, training & education that bumps up your pay level are survival necessities now.

@TheDilkshake 2 месяца назад

It doesn't work on its own, it's dependent on his other advice working out. It's a broad statement. You will never be rich saving even 10% of your salary at McDonalds unless you get incredibly lucky with bets on the market which is not advisable or sustainable. His advice about saving is largely targeted at people working jobs above the median pay. I wouldn't castigate him for that either. There isn't one answer to any of these problems. You'd have to make a lot of changes which have the potential to lead to a better future and even then it isn't guaranteed.

@vtheb1299 2 месяца назад

@@TheDilkshakeyou don't need to be lucky just put it in a low cost index fund tried and safe but people need to be educated about it. As Mr Boggle said, why bet in the casino when you can buy the casino 😎

@tormdk5879 2 месяца назад

Is it tougher for the ones at the bottom of the income hierarchy to be able to put aside money for their retirement? Certainly - however it is not impossible, and every single one of us needs to understand that compounding interest and time in the market are our friends. The median household have a real shot at having over a million dollars saved up if they can put forward 10% of the households income into savings per year across a lifetime (40 years), and if you have an average income instead of the median, that number dramatically increases. That's not to say it's not tough at the bottom - it is, and while I am not American, I would hope you guys are able to help those in that situation. However the median McD worker would be able to retire with about $250,000 saved up if they were able to put up that 10% you noted. I don't know if that is enough to retire with in the US, but from what I can see, they would still be able to beat the current median savings for that age, even though they have been below median income levels their whole life.

@rb-pk8ds 2 месяца назад

@@TheDilkshake... thank you. This is exactly what he was missing.

@audreyb9736 2 месяца назад

He needs to run for president

@winonahdrake6931 2 месяца назад

He just pointed out that minimum wage is $7.25/hr, now he's assuming people have money to save.

@nanoflower1 2 месяца назад

I agree with what one person said about the sweeping generalizations. That 15% Capital Gains Tax was something I noticed early on in my adult life and took advantage of. It might not be possible for someone working 2 jobs with a family, but if at all possible get some portion of your income invested early in stocks or real estate. As both tend to pay off over the long run and that reduced tax rate makes it much better.

@sorryitookthisname2 2 месяца назад

Great interviewer and interviewee.

@GarrettMunro 2 месяца назад

LOVE SCOTT GALLOWAY!

@NewMessage 2 месяца назад

Fun Fact: All rich people taste the same.

@er... 2 месяца назад

yum

@AngelusaNobilis 2 месяца назад

I loves the Soylent Green 💚

@johnl6176 2 месяца назад

And their children are less stringy.

@CrapKerouac 2 месяца назад

@@johnl6176 A lot less fat, since they eat so well.

@JohnYoung-js1bl 2 месяца назад

With some fava beans and a nice Chianti.

@zerocoolcat 2 месяца назад

Didn't really have a favourite host in the last month, but I gotta give it to Ronny now! Smart, funny, irreverent!

@KK-pm7ud 2 месяца назад

I came here for comedy and got an information firehose.

@kathrynekent5718 2 месяца назад

I should read Scott's book although it's almost too late! No savings or retirement and I'm pretty old -

@macberry4048 2 месяца назад

Scott is probably more gen x than Boomer

@Eveonthehill 2 месяца назад

so excellent!!

@user-pm7ck6ij9s 2 месяца назад

Ronny - Scott Galloway is a Gen X not a Baby Boomer - he was just too polite to correct you on this.

@dkenneally8951 2 месяца назад

Gen X - always forgotten and overlooked 😉

@lynnholtz2982 2 месяца назад

Boomer here. I worked 39 years. Started with $1.20 an hour as a secretary. Became an RN and made $20 an hour in 1996. Got a Masters degree and was fired in 2019 making $23 an hour. A financial advisor told me that I would have enough for retirement if I saved $300 a month in a 401k. That would be $150,000. Did that but 5 years ago I heard you actually need a million. Where's this gigantic wealth he's talking about?

@duncankowable 2 месяца назад

Ronny Chieng (Money) best person to interview Galloway

@cosmictogaparty 2 месяца назад

I love this guy!! ❤ l think humans will get it together and treat everyone with the respect and kindness everyone deserves. I'm hoping for my lifetime, but you know, humans.

@megmoore335 2 месяца назад

I agree with a lot of what he has to say, but as a mom of teenage boys, I am not pro- mandatory service, especially with the MAGA/America First movements making enemies and allies with the wrong sides( denouncing NATO/Pro-Putin)

@muay_khao 2 месяца назад

You have to listen to his whole pitch. He recommends non military type service, food kitchen, building housing, etc...

@AngelusaNobilis 2 месяца назад

Is a mother of a teenage son, I too am afraid.

@daniellarusso8012 2 месяца назад

Mandatory service doesn't necessarily mean "military service". :)

@francoutah 2 месяца назад

When I was a teenager I needed to get out and see the world to find out who I was and where I fit in. I really needed some sort of a "rite of passage" into becoming a man. My mother, still to this day will tell you that letting her boys go was the hardest thing she's done. I was the thrill seeker in my family and my lifestyle used to worry her a lot. We, my three brothers and I each did our own thing. We are still alive and very close to our mom. I actually bought a house five minutes away from her so I can take care of her. She's in her late 70's ... I wouldn't be here if it wasn't for her. She showed me what unconditional love is and I will always cherish that. Nothing's more powerful than a mother's love.

@racool911 2 месяца назад

I don't think he meant military service only, probably more volunteering and stuff

@goasu151 2 месяца назад

Love Prof G!

@nigelgreen9369 2 месяца назад

Gen X - sigh - represent - hands up

@andydufresne8034 2 месяца назад

They always say it's millennials and zoomers feeling the pain, but boomers perfected it on xrs. We've been struggling with it the longest.

@rosemarywessel1294 2 месяца назад

we were the first ones to scream when the roller coaster started curving downward ... Still, as bad as we had it, I can't imagine starting out as an adult now. We had slim chances. Folks now have none.

@samanjj 2 месяца назад

Right here buddy🙋🏻‍♂️ I feel you

@bobpurcell7175 2 месяца назад

1:00 Poverty is the default position of mankind, and there are those who would keep it that way, for others.

@Brandon-ml2zw 2 месяца назад

90% of what’s being suggested presupposes the individual is making an actual livable income already.

@Keji839 2 месяца назад

BINGO! barristas saving 2% of their income aren't making a sizeable change to their retirement funds

@mgkeleher 2 месяца назад

Prof G for President!

@piccalillipit9211 2 месяца назад

*DO YOU WANT TO KNOW HOW BAD IT IS...???* In 54 - if a genie offered me to be 20 years old now, I would NOT take the deal...!!! That is how hard life is for young people - I would NOT be young today, id rather be 54 with health issues...!!!