Hello you savages. Get access to every episode 10 hours before RU-vid by subscribing for free on Spotify - spoti.fi/2LSimPn or Apple Podcasts - apple.co/2MNqIgw Here's the timestamps: 00:00 Stop Following Your Passion 04:32 Do What You’re Great At 13:59 How to Achieve Financial Security 28:00 Skills for Becoming Better at Networking 37:06 Link Between Fitness & Financial Health 43:12 Forgiving Yourself When You Fall Short 52:32 What Is & Isn’t Worth Spending Money On 59:28 A Different Way to View Taxes 1:06:23 Where to Find Scott
Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities.
Impressive insights! For beginners like me, managing and staying updated can be overwhelming. Are you an experienced investor or do you have a strategic approach for staying informed?
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the name of the advisor who has been assisting you in navigating these financial challenges?
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
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.
Inflation has not always been around there was a 15 year period of deflation. Yes as prices went down income went up. Once you go to Fiat currencies with no tangible backing then inflation is an intentional factor. Patience, Cash on hand & Short Term Investments are key
True. I first came across investing in the market in 2019. Already stashed about $480k in savings then, and the free money from the Government was pouring in, increasing inflation rate. I just got an advisor and kept the money there, just because I didn't want to keep the value of the money depreciating in the bank. Tbh, it's the best investment decision I've made since then.
I think this is something I should do, but I've been stalling for a long time now. Mind if I ask you to recommend this particular coach you using their service?
“Rebecca Nassar Dunne” has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.
These uncertainties will always be there. Thing is, every once in a while, the market does something so stupid it takes your breath away. If youre not ready for it, you shouldnt be in the market business. or get you a skilled practitioner.
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors' and hear-says, it got the best of me in the year 2022 and had me holding worthless positions in the market. I had to revamp my entire portfolio through the aid of my financial advisr, before I started seeing any significant results happens in my portfolio. Been using the same advisor since then and I’ve scaled up almost a million within 2 years. Whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
Vivian Jean Wilhelm is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
My CFA Lucinda Margaret Crist a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?
Just get a financial planner straight up! personally, I would invest in etf and also love investing in individual stocks. yes it’s riskier but I'm comfortable in my financial environment.
I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
‘’Vivian Jean Wilhelmy’’ is the licensed advisor I use. Just search the name. You’d find her webpage and necessary details to work with to set up an appointment.
Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich.
I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts with experience since the 08' crash
The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
It surprises me why everybody gets really worked up about recession and inflation data. Inflation has always existed, and people have been using investments to beat the inflation. The stock market return, for example, always beats inflation. I heard of someone who invested $121k last October, and has grown the portfolio by more than $400k. I need recommendations that can give me similar return.
Not offering any particular advice, but I can assure you that most stocks still have growth potential. Re-distributing is not as hard as many people think it is. Ordinary investors lack the requisite level of diligence, so having a financial advisor on board is usually highly beneficial. In the market, this is how people generate enormous profits.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
Scott was a person I started liatening to a couple of weeks ago. While he makes some decent points about finding talent over passion, it gets old when you hear him literally recite the same speech for every YT interview.
Yes, people are interviewing him on his views, they are not going to change every day. Ever seen a couple of an actor being interviewed about their new film? Same answers every time as the movie doesn't change.
@@colemanandersonChoose the right industry and become a top ten percent performer in that industry. Be disciplined and consistently save and invest in a diversified portfolio. That’s basically it.
@namaste758 don't be ridiculous. He has to pay for an elite service, and he can do the exact same thing with a limo/ town car high level service for an automobile
You are the first educated person I have listened to that has compared private school to invested money instead. I say this all the time and don’t understand why more parents don’t view it this way. Love this episode, just found your channel. Great perspective and mindset.
I didn’t give this podcast a chance. Ignored it when it came out. It happened to play via auto play. Impressed with the intelligence of this person. Great speaker!
Yeah, I’ve seen a lot from this guy before he magically blew up from some state media segment where he said some stuff that’s obvious and well known by most men. So saying something “duh” made him popular but he’s got major TDS and is a major part of the problem he’s describing.
He would get wrecked in a proper debate. This is the sort of boomer who lived a such a privileged life and is completely disconnected from the ordinary person.
yeah first red flag was Sam Harris think there is something about leftism and atheism not that I am trying to say any religion is better than others but it leaves you open to government taking the place of god. The danger is the deification of government. Doesn't discredit his advice it just colors it. I would say there is a competitive advantage of being "athiest" when it comes to moral qualms but it does leave you open to feeding your narcissisms by embracing B$ morality. Nietzsche was right to philosophize about the death of god because it requires engagement with what morality you choose and think critically about it.
What's the problem with that? One knows his life better than anyone else's. We should all talk about our own lives so people can choose what to learn from it.
It's hard for a Narcissist not to talk about themselves, they are (to them) the most important person in the room. While he has some solid info, he could talk less about himself & how his information can help others. He fails to grasp that not everyone wants to have a 5 Star experience in life.
I think he is humble about it though. Its hard to give financial advice to struggling younger people without first acknowledging your own success (and failures)
He is also very honest about how unremarkable he was in his formative years. Maybe the "I'm rich and my life is great" doesn't make him relatable. "I'm rich and I wasn't anything special when I started" is very relatable.
This is the most Gen-X guy of all time. Materialism, sarcasm, cynicism, atheism, depression, angry at his parents, loves Bill Maher. He's got the whole package.
@chris williamson I want to clarify something scott is talking about around 1:04:12 in the video, concerning investment banking income. I normally don't hear Scott say anything that I instantly disagree with, or know to be wrong. He is quite an intelligent orator and a careful with his rheotoric. However, he is not correct, when he talks about his friend making $10 million USD as an investment banker, in saying he is paying 52% in income tax. Furthermore, that investment banker, if being paid in excess of $10 million USD, will not be paid in cash or "base salary". There are two options here, an investment banker making $10 million USD either works for himself or works at a large bank (we call these banks the "big 5"). This friend of scotts will only be paid 250-600k in "base salary", the rest will be bonuses- compensation that is NEVER paid out in cash. To elucidate further, the compensation model is purposefully paid in common stock, or similar methods, to AVOID paying taxes like scott is mentioning. Other than that, I love hearing scott talk. He is a terrific and positive voice in the online space at this moment.
No one calls the largest banks the big 5. They’re called bulge bracket banks. And only part of bonuses are kept as rsus, generally most of them are given out as cash. Generally most is cash. Your claim is really weird.
Not sure why there’s so much hate in the comments about this guy. As a 47 year old i agree with much of what he says. My father built a business from the ground up. Nothing glamorous but he provided a good life for me and all of my siblings. He told me I must do the same and provide for my family. I like what he said about choosing career path. Forget about his political views
Man, that thing about normalizing affection in the household is so true. My parents didnt do it because their parents didnt do it them, now it is super awkward to have an intimate familial connection with them. If you ever have kids please have them learn that being loving and caring in the household is normal and shouldnt be something you should be ashamed of.
After hearing about his parents and upbringing, I completely understand why his demeanor is so serious and stoic. But I love Dr. G; so grateful for his insight
I'm so confused. He advocates an "extremely progressive" tax system, but then also says "every citizen has an obligation to pay as little taxes as possible"? I honestly cannot follow the logic of people like this. I've listened to him before, seen his talks, and he has some great insight but I just think the lessons he's "learned" or his own life experiences just do not translate well to reality (due to his luck or whatever).
But those 2 things aren't logically opposed? Within a progressive tax system, anyone from any bracket can attempt to pay the LEAST they are legally able to. Everyone should be aware of the legal deductions/expenses they are entitled to claim. Progressive taxation is the best for the entire society, and attempting to pay as little as you're legally allowed is best for each individual taxpayer. The 2 actions do not oppose each other.
He said himself that he's a narcissist, and narcissism is deeply rooted in irrationally. Which leads to envy and resentment, and wanting to take other people down. So his MO distills to, "how to be better off than everyone else" while feigning compassion for the disenfranchised.
Most of his points are either glaringly obvious or complete nonsense. You cannot simultaneously be pro high taxes and think everyone should pay as little as possible. The only way he can justify that to himself is to blame everyone else for not memorizing the tax code or not being able to afford a competent CPA.
One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $200k of my savings in stocks this year, and I hope I make profits.
You are right. The best approach I feel is to diversify investments- by spreading investments across different asset classes like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.
I really want to get in with a financial advisor this year, especially as all markets are hitting highs. I don't want to be too optimistic and end up losing everything.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
So it took this clown an hour of telling us how disciplined he is about working out, how much money he has, how good of a dad he is, how kind him and his rich friends are, how good he is at dealing with rejection, what a good athlete he was in highschool, how he gets special treatment at Disney, all the important senators and business people he knows, how hot and accomplished his wife is.... Just to tell us not to work as an actor, and invest in an index fund when we turn 18.. 🙄
It's a model of how to make money. His financial advice is very high quality. Prof g markets is also one of the funniest podcasts out there, if your humor is as dry as it gets like mine. But it's important to surround yourself with rich thinking not poor thinking. I didn't have it all figured out but this kind of stuff got me into a house with 11 rooms and enough money to absorb just about any problem that can come my way at age 34. The key is to listen and accept while improving, not refute and ignore while regressing. If you don't, the money printing business will devalue your money every single year by at least 2 percent, and likely closer to 5 or 10 in times of 'crisis' especially with the high debt. But see if your position right It doesn't matter. I love when they print money. All it does is bring down the cost of my mortgage. Print, print, print. All of my real money is in equities. But this requires creativity, 50-hour weeks sometimes or 60 when all your buddies want to go out. Mastering my craft when everyone else wants to watch TV etc.
Imagine understanding the current economy so well and empathizing with Millennials and Gen Z about their financial plight and then talking about canvassing for Joe Biden as if 4 more years of the current administration is the answer 😂
I would not vote for Biden, I simply would not vote for anyone of that age and mental deterioration but factually the last republican president to lead an economic uptick (reduced unemployment increased job growth) is Raegan in his second term (technically both terms but it was really 5.5 year span). but oddly enough every single Democratic president has done that since after Carter. Historically America does its best by a wide Margin having a Democrat in office with a Republican Congress over the last 50 years. there are beliefs surrounding this that you have a wide eyed, compassionate and hopeful leader (the democrat) who is tempered and restrained by a much older, wiser and stern republican congress. Even by age statistically the best age for someone to enter office is 47 which even this should not be that odd if you consider wisdom experience, cynicism, optimism and energy also makes your 40s the best age to start a business (rather the highest likelihood of success)
The Overton windows has shifted so much that the 3 viable candidates are all democrats. There is no actual conservative party it's just a skin puppet wearing the name. Although I'm pretty sure Trump was doing well economically unit the rona
If you knew your way around in stocks inveestment, you'd understand that broken/bad economies come along with them, equivalent market opportunities. I've seen folks amass wealth in the midst of economic turmoil and even pull it off easily in favorable conditions. Invariably, the collapse is getting somebody somewhere rich
Choose quality stocks and follow them up. If you're not one for such complexities, work with an Adviser to grow your portfolio. You can't go wrong with a sound CFA.
@ChrisWillx First time I have every been to your page... And I just find Scott Galloway so amazing. BUT! YOU SIR, are one of the best hosts/interviewers I have every come across. Not interrupting guest with your own stories... Not saying "uh huh, uh Huh, ok, that's right, I agree....." Shut up and let the guest speak! YOU get it! I just cannot stand any longer the interviewers (so many) who try and impress their guests with their stories and just hope for affirmation. You are an amazing interviewer. Thank you. New fan.
Ever think that maybe the goal should not be to "get rich in a broken economy?" Isn't that exactly why we keep ending up here? The economy will still be broken, our money will still not be backed by tangible wealth, and the few people who benefit will become our new masters. No, we need a meaningful overhaul, rather than to keep kicking this same can down the same road. Edit: While I understand this video speaks more about what is, rather than what it should be, the people who are able to hack the game and be comfortable living in a very broken society are also going to be very unlikely to want to change it.
its absurd that the only good advice is "be in the top 1% of something" oh yea? what if I'm NOT, what about the REST of us, why is it like this NOW when it wasn't 50 years ago when everyone could eke out a good life without being the best "whatever", and we who are just PRETTY GOOD at things are getting really really fucking pissed.
While I agree with both of you, I think the broader message could be: get to a position where you no longer have to worry about these things holding you back and allows you the freedom to aquire the skills and knowledge to make meaningful changes that would allow future generations to do the same thing but with new systems you helped put in place. Leaving the world a better place than you found it, even though you 'profited' from current systems. Easier said than done ofc but it comes down to the individual what they choose to do with their newfound freedom/wealth. If you look at things with this larger perspective and hold onto it, you can make changes you want to see. And while changes like this don't happen overnight, we have to start somewhere.
Our "broken economy," as you call it, is the best economy the world has ever seen so far. It has its issues, but we have raised the floor for the bottom to levels it's never been.
@@tswierczekno, China has raised the floor with their economic system. That’s why we have to put a 100% tariff on their ev. Let me buy the 10k ev at 10k, so that American car companies are forced to make cars at 10k. That’s why the system of broken, the rich will never care about a 10k car, most Americans would love the option to buy a new car at 10k. Best economic system? Only for the rich. Best seen so far? By what metric? We used to have a much better system with a smaller wealth gap in the USA, where homes were affordable. It’s laughable to call what we have today the “best economy so far”.
29:00 That part about rejection is quite enlightening. Instead of doing rejection therapy by being a promoter or cold calling, I went out today and tried to approach and couldn't. Approaching women is a fantastic way to get over your approach anxiety and be every comfortable taking rejection, especially sober.
@ZukoTheShinigami "don't point out why my internet daddy says. Just copy what Andrew says but in a different light." We get it. I can hear how sticky your keyboard is 🤢.
@@ZukoTheShinigami law of averages, only a select small few can, even if I do, the vast majority don't, and now the price for not becoming a select few, is abject poverty, the gulf between extreme excellence and excellence is now insane, economically.
I appreciate Scott as a person of societal success who practices understanding for the economic difficulties most people are facing. Beats the whole “pick yourself up by the bootstraps” nonsense of the Boomers.
@Cptn.Smoker Compassion is important to many people. It goes beyond the metrics of economics. Also, people with money are compassionate. Being poor and having compassion aren’t causal.
@@topdev_tech9156 The issue is that it isn't possible to do so. It's a terrible way to make sense of the modern world. Something more pragmatic such as, "Don't find your passion, find your talent" is much more ideal. I'm in school decorating myself with trade certificates, by the way, don't you worry *bro*
@@topdev_tech9156 I'm aware of what you're conveying, however, it is literally impossible for one to lift themselves up from their bootstraps. Plato mentioned in 'The Republic' the problem with teaching children lies. We need the narrative to be something much more pragmatic. Scott did well with, "Don't find your passion, find your talent" This, for example, is a much better way to position any given individual for success in a free market society versus the condescending undertones of "lift yourself up by your bootstraps" which requires zero consideration of your fellow citizen and zero understanding. Last I checked, one purpose of the Constitution is to *form a more perfect union* We don't move towards that with non-sense ways of making sense of our environment like 'pick yourself up by your bootstraps." Respectfully.
@LotusHart01 lets keep it simple, compassion is important in the interpersonal human experience, but it is not going to give you success in a competitive capitalist world.
@@brianmeen2158 most media People recite and regurgitate the same things all over again ,this one at least doesn't sell you his course every minute or the specific drug/minerals that you're lacking and surely it's the only thing you're lacking. Opposite group of viewpoint is more common, successful success -just believe,follow your passion,law of attraction - that's more toxic, usually those people don't have any real experience outside of selling their courses and books.
@@Cruiser203 what are you looking for? Since the youtube algo led you here, chances are, you are looking for fast success with an inside scoop. Now you're mad Scott is telling you, you need to work hard, accept streaks of rejection and failure as part of your journey to success. Of course that has been said a thousand times before. So what. There is very little that hasnt been realized by some smart guy 2000 years ago. But he's dead so someone else is saying it.
Just read The Algebra of Wealth and whilst alot of the ideas and topics where quite familiar to me, it was still a great read. Very well written, easy to understand and i think a great book for anyone looking to further pursue financial literacy. Thanks Scott.
It's unbelievable how so many very intelligent people like this gentleman live in a bubble and are so fooled by the most obvious things. This poor man has figured everything out except what truly matters, this is what explains his incoherence.
So, what truly matters that he's missing in his message? Just trying to understand your statement here. Scott brings up good points but I do think a few things are missing in his equation to life.
@@enigma5627 that would be living for something greater than yourself... Our time in this life is incredibly brief, everyday is an opportunity and a blessing, his perspective is so cold, so empty...
@@petermangano6206 His perspective is realistic. Perhaps not idealistic, but realistic. The man fought to get what he wanted and succeeded. Created businesses, workflows, and ways in which he could live a life greater than most. He pointed out a very obvious fact in the world -- that the experience is extremely different from those who have money and those who do not-- even when going for the same services. Get money as soon as possible, because time is not a friend and the allotted time in which you can get the funds to make others happy is limited by that person's amount of life left. By the time you can get the funds to make others happy, have exciting experiences (which now cost money) , whether it is getting them out of debt, helping kids with college etc etc is very short and limited as you mention.
@@petermangano6206 you're still dodging what exactly you are referring to. Truly matters, greater than yourself...What are you talking about? Believing in a higher power? That doesnt work for everyone, a lot of people cant have faith in something that is most likely completely made up by man some thousand years ago. Anyhow, I think you missed that point of his, because he only mentions it but doesnt dwell on it: He enjoys being able to create financial security for his children and his father on a level that you cant if you made average money your whole life. And providing for your loved ones and spending your money to create memorable moments with friends, can be something that's greater then yourself.
@@maxmeier532 I never made a lot of money and yet I retired from the rat race at 35... Free your mind, none of us are trapped in a false box of two choices...
I'm an atheist and always have been. I have never found what Scott says it is "emboldening, liberating, and an unlocked joy" I actually can see it would be nice to believe in a great afterlife. 51:30 He literally said "I can't wait when I'm at the end, I want to make a lot of money so I basically you know die at home with people I love surrounding me and I am going to do a sht ton of heroin and I am just going to play those apple "AI photos" and live his life again. Scott, no need to wait, you could easily do this now.
Idk, I mean I get where he’s coming from. There is a lot to be found there in the acceptance that this is it. I like what he said “this isn’t a dress rehearsal”. Brings a lot of meaning to the present. Sam Harris said that same quote, which is I think where Scott got it from. It’s there if you are open to it.
Love Scott's self awareness discovery on profanity. I find profanity in the right context can really drive home the point, but when you overuse it then it's not really nice to listen to!
As a Christian who's conversion was a gateway to an incredible sense of freedom and joy, I cannot for the life of me comprehend why people see atheism as the route to really living for the moment. It's more fun playing the game when you can't die.
So you adopted a personal belief which unlocked an incredible sense of freedom and joy... Yet, you can't understand how someone else can do that with a different belief? Reads like someone having trouble understanding why their favourite workout music doesn't get everyone equally as pumped...
@@kris3451 Well music is a matter of taste but I think it's fair to question why someone's worldview has led to a particular mindset which doesn't follow logically. Atheism seems more rationally to lead to nihilism.
I can see his logic. I came to believe in god solely because I feel we can never know for a fact whether god exists or not, but I find my life works better when I live with faith that there is a god. I however do NOT believe in heaven or hell. I believe that god empowers me to live the best life now, contributing the most to the good of others according to god's will and with god's support. He finds that it is the belief that there is no god and it's up to him how to incentivize himself to life the most fulfilling life, and for him he uses his narcissism to guide him. So not only does he do better not believing in god, his approach actually depends on it. He's the god of this worldview, and has decided to be a benevolent god. I'm not enough of a narcissist for that to work for me, but good for him. The world is better with him playing the game he's playing than the ones some supposed religious people are playing, meanwhile steady either harming others or simply failing to help when they could.
Scott is profoundly obsessed with envy, and having VIP experiences. He has now repositioned himself as talking nonsense to millennials to offer them hope, while is really selling doom and gloom.
I have seen interviews with him and he is not giving anyone any hope, quite the contrary. Another recent interview ith Simon Sinek he basically listed all the reasons why young people effed by society, short summary: Living is x more expensive, education is x more expensive, all adjusted for inflation, so in other words, youth today gets paid less and can afford even less with it. When he says things like dont follow your dream, do what you're good at, strive for financial independence, he is just stating what most parents would say and adds an atta boy. You dont have to agree with him.
Currently 26 listening to you just hit the follow button this was a great video . A little bit behind the ball but as a trucker I been trying to save money and turn to efts & stocks I understand I won’t have money now but in the next 30 years when am 50 I’ll have millions which I’ll hand of to my kids to change their life’s . Learning the long game around my friends that have already bought homes is really heard even do I want too I have said no too my wife .
Scott makes some interesting points, but a lot of his advice runs smack dab into the fact that most people in the so-called 1% have pathways to the 1% that aren't directly replicatable. In fine detail, his path can't be repeated by anybody else. So, there's a bit of wish-selling happening, any time someone in Scott's position hands out life coach advice.
A lot of the folks in the comments aren't feeling this one, but I loved it!! Took away a lot, juat gotta have an open mind and not take every word so serious.
Really grateful for this guy, teaching finance to young people that otherwise wouldn't get it....i had wished i watched this when i was in college-wasnt available. Don't waste the advice guys! No one will respond to this. No thumbs up no thumbs up because i have been banned. None of you are reading this but if you are. Thumbs up thumbs down either or PLEASE!
He made a salient point about how when he was a kid his father's boss had a slightly larger home in the same neighborhood, and how now if you are wealthy you have a different zip code and doctors. This is an example of our shrunk and shrinking middle class. A healthy vital democracy has a stable middle class, and we as citizens should strive for that balance.
I don't know who this guy is but i loved the interview. he's not a glazed eye IT millionaire unaware of human reality, this guy shows great experience and understanding of wealth while retaining a human factor / understanding.
I discovered him through reading his book Adrift, which I liked because there and in his Ted talk he talks about all the real problems with the US. And at least he’s better than Jordan Peterson? 😅 (super low bar, I know)
When I was a teenager I knocked thousands of doors and faced tons of rejection. But I had men in my community that I knew supported me and had my back. There have been other times in my life when I was totally unable to face rejection, those were also times when I didn't have that same dynamic of friendship. The key to life is making friends.
If he travels far a LOT for work, the plane makes sense. The car may not be necessary because he lives in London, one of the most walkable cities in the world.
I got introduced to Scott through Chris's podcast, and I highly recommend you give the Prof G Pod a listen. I've genuinely learned a great deal from him lately. I sincerely believe that staying within your echo chamber will stunt your growth. Just because you aren't left-leaning and he is doesn't mean you should ignore his insights-I find such a notion horrendous. Listen with an open mind, pick what works for you, discard what doesn't, and remember that there's a lot we don't know. God Bless You.
Agreed. I also find it interesting when people (like him) seem to agree with the general "megapack" of opinions associated with one side or the other, but then throw you a curveball in who they vote for...it's like, what's going on there? It always makes me more interested in a person when they don't fall neatly into a predefined pack of opinions.
"The power of compound interest" 20 min later "above a certain point, wealth has diminishing returns" This is probably the most difficult balance to strike in life
what? one statement is purely financial, the other is about the fact that the more you have the less even more will have an effect on your life. You think Jeff Bezos has a vastly different life whether he has 5 billion or 50 billion dollars?
We're learning to become self sufficient to bring down our costs of living. And focusing on what we can do to make our own local business out of what we're already doing.
@@HJ-jy7fw That's crazy - I listened to him on a CNN podcast - and he said that during covid he lived "the best years of his life". Netflixing, spending time with his family, working online ... So it's so crazy for me to hear that he advocated for mandatory vaxx. Makes me lose respect a bit.
@@Rayna-sg8zj That's his CNN rap I guess. He became very involved with his children's schools "safety" committee advocating for school closures and shots for kids..
everything he says is completely obvious but he takes an eternity to say it and his success is because he was a boomer who came of age during a time and place when there were fewer barriers than at any time in human history
He makes people feel terrible about the decisions they’ve made and people hate a winner who talks about it. He is 100% spot on about wealth. I don’t agree with him on some of his other opinions but he’s a solid guy.
Scott doesn't have the demeanor or affect of a happy and at peace person, and several times throughout the conversation he seems to tacitly admit that he struggles with being happy or satisfied. When your schtick is "listen to me, I have life all figured out," that kind of undercuts your message a bit.
not really, because the ones that pretend to be on top of everything and never have had a bout of depression are quacks. you are looking for purity, and I am telling you, the ones that sell purity are the most impure.
Really dig this channel, great conversations. What I learned from Bad Take Galloway is that he's been monetarily successful in spite of himself. This is an incredible lesson for everyone watching: habitually wrong, absolute choads with little redeeming value fly private because they focused long enough to build some value. There's more money in the world than you can imagine, and when you solve problems for people it falls from the sky like snow. You can make it if you want to. Also, ignore anyone posturing as an elitist who wears a fukcin panerai.
The Avatar comment resonated with me. My daughter ( 6 at the time) and I waited 3 hours in line for that ride. Lets get to the money so that we can have the option to splurge a little. Scott is a true gem.
Realising the should bucket never needed to exist, has pushed me into a trajectory I cpuld never have found. Ive done that without financial security and it has even given me a better financial outlook. Not disagreeing with you Scott, just commenting
These dudes always go over the tipping point “I don’t own a car I don’t want to be bothered”. Multi millionaire. Just get. Used Toyota Avalon. It’s literally Pennie’s to buy and maintain for someone like you.
It's a matter of being in the right time and place. There more time/places you are at while you are young, the greater the chances you'll hit a home run while you are still young!
I dont know if he is. But if he is, He's prolly voting not because "Biden", but because Democratic, and democratic is the side that "aims" for universal healthcare, education, and housing. It's basically the "lesser of two evils"... even if democratic isn't even really doing that since both political parties are too corrupt... If anything, I'd believe it more if he voted Yang when it comes to democratic (i remember him mentioning yang once). Sanders prolly a close 2nd
He makes some great point; pursue your talent, view your family as an economic unit and construct your life accordingly but his inability to reckon with being at the top of a broken system is troublesome and illustrative of the West. Is life really so great for you to afford the finest when the proportion of people struggling is growing by the day? What kind of a society is that? Some people want a simple life and aren’t motivated by $6000 VIP tickets to cut the line at Disney. They just want to be able to afford a basic life with dignity but can’t anymore. Can we really say that we are successful against that backdrop? You’re just reinforcing a terrible pattern. The lack of altruism and his adherence to atheism makes his prescription less credible. Flex the Pareto principle instead of looking to tinker with it to make a better future. Uninspiring.
Well said. This guy sells a depressing albeit ‘realistic’ outlook for young people. I get that specialisation in an economy is important but most people can’t specialise to a degree where they fast track themselves into the upper echelon of society, so that just means becoming more and more entrenched into an underclass, which will eventually just create a two tier society worse than the one we already have.
