The Missing Piece in 99% of Financial Advice | Scott Galloway

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#81 Why is Stoicism so important for building your wealth? Scott Galloway, a professor and prominent figure in the field of business and wealth management, brings a unique and practical approach to achieving financial success. With a background rich in entrepreneurial success and academic insight, Galloway's formula for wealth combines focus, diversification, time and Stoicism.
Timestamps:
00:00 - Intro
05:14 - How do I get wealthy quickly
15:42 - Stoicism to describe the formula
23:25 - Scott’s realization to take things seriously
29:47 - Scott’s advice without having to learn it the hard way
38:41 - Are women better investors?
42:29 - Financial literacy and investing strategies for young people
51:44 - The criticism that had the biggest impact on Scott’s thinking
55:14 - Scott Taught Me
Get Professor Scott Galloway’s New Book: The Algebra of Wealth here: erika.com/the-algebra-of-wealth
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Опубликовано:

11 июн 2024

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Комментарии : 175

@Erika2 Месяц назад

Learn how to turn $10 into $10,000 using the “Passive Investing Method”: I’ll be teaching you in my free 5 Day Investing Challenge. Go to erika.com/start to grab your spot!

@texaslovelylady Месяц назад

How long for $10 to become $10k? Thank you 😊

@chychychibuezeh1853 Месяц назад

The URL not working for me... click submit and it doesn't get to the next page

@tradespx9055 Месяц назад

@@chychychibuezeh1853 the link is working now

@adamweah8037 День назад

I’m 63 from southeastern Ohio but worked overseas all my life. I have savings of $800,000 and I'm ready for retirement, only concerned about the soaring inflation. Is this enough to retire comfortably, or do I need some sort of money management?

@michellemorales401 Месяц назад

I love how humble Scott is. The most important thing truly IS how we treat other people. For me, personal financial stability allows me to take care of myself and be able to help my family, and give back to my community.

@mysticaltyger2009 Месяц назад

Yeah, he's brutally honest.

@ghggp1 Месяц назад

These types of videos need to be shown in high schools in all high schools ! Financial literacy missing from our educational system! Scott is so profound and resonates with so many of us who care to listen. His humble demeanor and profound financial instructions are worth sharing! He is so disarming and admits to his mistakes. We have all been there! I wish I had heard this advice years ago. Young people need to take their financial futures seriously! Thanks for a great interview!

@PeterParker-wj3cr Месяц назад

I don't disagree! Financial literacy should be taught in school. However at the same time finance is also a personal journey. It's not the responsibility of schools to make us rich. We live in a competitive world. Which means we have to gain our own competitive advantage. Most people are lazy. So the way i look at it. If you learn on your own by reading, taking online courses about finance/capital markets..etc. That will give you an asymmetrical knowledge base advantage over the average person. Everyone can't be rich. School just teaches the basics. So we must go above and beyond to seek out our own financial success!

@lisajane4330 Месяц назад

Wish they did, I'm only getting financially literate now in my early 40's.

@PeterParker-wj3cr Месяц назад

@@lisajane4330 Well i'm 46 now. I started to get serious when i was around 33. I use to blame school as well. But i took ownership and decided that i wasn't going to blame school anymore. I take full responsibility for my life and my failures. But then i said to myself. Even if they did teach financial literacy in school. Would we have appreciated it? I remember i hated my accounting class. Which is funny because i had to re learn accounting to help me navigate company balance sheets now, when i'm reaching a company to invest in. I think its only in hindsight that we can look back and question why school didn't teach us certain things.

@carolannstevens5814 Месяц назад

I love the end what he said … high character, generous, loving, forgiving person ♥️ relationships. Be around people who want you to win.

@nathalienguyen6860 Месяц назад

I love that. Real wealth comes from real relationships and being a generous loving person.

@jiobodega2358 Месяц назад

just sent this kind of message to my best friend just a while ago before watching this video

@yanikq Месяц назад

Social Capital is illiquid but it's the only form of risk free leverage that I know of...

@Oprizzle1 Месяц назад

You sound like you don’t have fiat wealth… but I do agree.

@fitnesspoint2006 Месяц назад

Pretty-make-you-feel-good string of words. What is "real wealth" from "real relationships", in reality most if not all get tired, irritated, and annoyed by our real relationships, there is no blissful prerfect real relationship. Being generous loving person hmmm if you are living on bananas and raman then abusing the 4.99 all you can eat at the end of the week its hard tobe generous, whatever that means.

@martinboyd447 24 дня назад

@@fitnesspoint2006In reality, people just get tired of the young man's game, so they try to reinvent the narrative in favor of their moral and ethical responsibilities. Oh, I was a crap dad, but at least I have a bunch of money to make up for it now that my kid can hold me accountable for being a crap dad. If you have enough money you can sound moral without playing by the blue collar mindset.

@hansanaik3835 Месяц назад

The advice that I like the most is to live an amazing life and not even think about the person that has wronged you.

@TheLovely990 Месяц назад

Starting early is the key, but some of us don't have that time. Just live the best life you can. It's not how much money you make, it's what you do with the money you make.🤔 Save, save, save!!!!!

@JB-by8tw Месяц назад

Growing wealth for most = time, consistency, and making solid investments. In other words, growing wealth = investing young + secure above avg paying job + index funds (S&P 500). This is the blueprint. Scott says a lot of things that are valuable. I’m 54 yrs old and my wife is 53…we basically followed this blueprint and have become multi-millionaires (not including our paid off CA home). We’ve been together since high school.

@tradespx9055 Месяц назад

Good for you guys, you came up with a plan and you followed it. I think having the discipline to follow your plan is the hardest thing. I was up and down over the years, not being consistent. Now I’ve had to bust my butt for the last 10 years to catch up. I wish I had the foresight you did to just be consistent, would’ve been a lot easier on us.

@sothearyouk373 Месяц назад

This so important for everyone to listen to. Especially young people. Sending this video to my nieces. Thank you Erika!

@eschiedler Месяц назад

What Scott says about Eastern Europe is true. I went to East Berlin in the summer of '88 when the Wall still divided the city and we found a hidden restaurant near the main plaza with incredible food and it was basically 'free' it was so inexpensive. However, everything else was empty and gray. There was no resources at all even for color, let alone products.

@fdrodreeguez20 26 дней назад

Great episode. Love Scott Galloway's presentations, interviews, podcast, etc. Thank you Erika for sharing!

@davidleong6606 Месяц назад

Erika you are a terrific interviewer and listener. Scotty G is a Greaaaat guest!!! I LOVE how Scott is NOT afraid to speak his views on male/female differences in brain behavior and tendencies especially in our hyper PC society… So refreshing!!! Erika, You are Excellent & skillful how to allow your guest to finish his thoughts and you are always quick to ask for explanation and clarification so that your financially novice listeners will learn and understand more completely… much appreciated! 🙏🏽 And for us more financially mature, WE LIKE hearing definitions over and over again for reassurance… Keep up the great work!!! 👍 👍 👍

@FilmedByRayBrown Месяц назад

Scott is my favorite character ever in 2024, holy shit I’m 19 And I’m working out and listening to this as I workout and this is absolute gold

@clemfarley7257 26 дней назад

He’s very good and this isn’t a criticism, but only in America can we mix decency, generosity, friendship, niceness with getting ahead. True friendship is separate from personal career success. Facts.

@travsmac Месяц назад

Compound interest is amazing, but it presents a conundrum for young adults. Putting aside $50 when you're 20 is EXPENSIVE, putting aside $50 when you're 40 is almost nothing. The reason young adults don't take advantage of time with compound interest is because the value of that dollar when you are young is incredibly high! Technically, it's the same dollar, but how important that dollar is to you can vary wildly throughout your lifetime.

@tradespx9055 Месяц назад

That is totally not true. Putting side $50 is easy for anyone. It’s a matter of sacrificing a few things in order to get it done. That’s not even as much as some peoples cell phone bill, which didn’t exist when I was a kid. And just FYI saving just $50 won’t get the job done either, you’re going to have to save way more than that per month, and increase the amount over time due to inflation. I do agree with your point that a dollar has a different “value” as you get older. Point well taken there.

@stocksxbondage Месяц назад

@@tradespx9055Yeah $50 is expensive until it’s time to go to the bar/club. It’s expensive until they want to buy the newest shoes or clothes. It’s expensive until they want a Mustang or Wrangler. It’s expensive until they want a tattoo. Young people just do the dumbest things with money. I was buying the newest Nikes, bought my dream car (Mercedes SL500), and got a full leg sleeve tattoo in my 20s before even opening a retirement account… it’s all excuses. Thank goodness I got it in gear by age 28.

@tombowman4489 29 дней назад

I 100% agree that 50 dollars has a different value when your younger and I think added to this point is when your younger you have less trust and less comprehension of what the stock market is and what an index fund is! Why the hell would you put your money into something that has zero instant/ short term gratification that you didn't even understand? You wouldnt and that's what we don't and didn't. When we are young we want skinny things we can touch and feel and go fast. not numbers in an account that we are told have the risk of going down in value. This next generation will do well because RU-vid is full of people like Scott tell them to invest in low cost index fund. My youth had nobody saying this 😭 😂

@ThePurpleSnork 21 день назад

I think you're absolutely right, but there's middle ground. $50 a month is a lot for a person with very little money, so the way they can set themselves up for success isn't outright saving, but making sure they make good choices in other areas. Avoid debt, make good career choices, and work on improving themselves - pretty simple right? But people don't do that. They keep up with the Joneses. They get themselves into credit card debt, and student loan debt (think philosophy major, not chemical engineer), and they treat themselves to travel and a lifestyle that they quite frankly can't afford. So that means when they do start making some money and $50 isn't unrealistic anymore they aren't starting from zero, they're actually starting negative - they're in a hole. Avoid the hole. Don't worry about saving when you're 18 years old. Start when you're 30 and you've set yourself up for success, instead of spending the next 40 years with bad habits and acting as your own worst enemy.

@TheyRiseBand 9 дней назад

It's not the same dollar when you're 40. I'm 45, when I was 20, I could afford an apartment, car payment, food, etc. on $15 an hour, in Colorado. Couldn't even dream of doing that, today.

@yootoobur101 Месяц назад

Another outstanding performance by Ryan Reynolds

@swanbaby62 Месяц назад

People in their 60’s and 70’s who don’t have money…likely never had sufficient money. Those people planned on finding jobs with pensions but the pension system changed to 401k’s. Also good jobs, middle management, started to disappear. These are tail end boomers. If wages have been stagnant since the 70’s, this is the generation impacted by this. Now they are single and the fastest group of homeless. Homes were not bought because they were always in low wage jobs. Some think that the economy just started to tank. It has always been bad-for many.

@avayu2289 Месяц назад

I have no debt and am my own boss. More than anything, financial success and independence mean self respect and tangible high net worth. Unlimited freedom, truth and happiness!

@brianthacker6926 День назад

Great stuff here. Erika, you always have quality people and content.

@ThePatriotPirate Месяц назад

If they made 80,000 back in the 90s they were basically a millionaire because I know ZERO people that made that much then

@EcomCarl Месяц назад

Scott's approach to decoupling self-worth from spending is enlightening and crucial for fostering a healthier financial mindset. Emphasizing the power of compounding interest and living below one's means can significantly accelerate financial independence. 💡

@islandhopper100 Месяц назад

Never too late to start...I started in my 50s. Better late than never.

@tradespx9055 Месяц назад

💯

@stevewhite791 20 дней назад

Great video

@donaldlee6760 Месяц назад

This was a great interview, I wished I was exposed to this knowledge in my early 20s, but I am able to help teach my 3 kids so they can get a head start.

@chriswebb4797 21 день назад

Excellent point on the high wealth individual, they are kind to extremes. They love to share their process and are excited to learn how it can be improved on (which is usually done by younger people!).

@senthilnayagam1734 Месяц назад

Generous and forgiving person

@EMan-cu5zo Месяц назад

I am amazed how many people don’t even take advantage of the fact that you can actually make money you have saved even if it’s small aren’t putting their money in a MMF or high yield savings account. Every month I get paid on my savings. It’s not enough to live on but it definitely makes a difference.

@rickyc6463 Месяц назад

Thanks for introducing me to Scott such a class act…. I’m definitely going to implement many of the ideas discussed. Great interview ❤❤❤❤

@eunicef1 Месяц назад

Great interview. You interview well. Thanks, Scott.

@kaligirl1980 Месяц назад

Good interview Erika. Also, I never get tired of hearing Scott Galloway.

@nancydudenhoefer430 Месяц назад

I found this guy to be fascinating and his wisdom especially to those of you who have "time" most insightful.

@rafalrocks Месяц назад

The formula for success he proposes is a good one. I have an issue with the basic assumption though. He says that most people he meets have some talent that puts them in the top 10% or maybe even top 1%. I think there's considerable selection bias at play here because of who he is and the circles he frequents. MOST people will never be in the top 10% of ANYTHING, especially something that pays well. Pareto distribution and the bell curve are a real thing. I think most people come to that realization sometime in their 20s and have to make the most of the rest of their lives somewhere toward the middle of said bell curve. Unfortunately - and kudos to him for addressing this - the majority of people in the middle are being squeezed because of ever-increasing wealth inequality. We don't need influencers and experts telling us to focus on our talents - whatever they may be - we need to tax the sh*t out of the uber wealthy rentier class so that the rest of us working stiffs don't feel like total failures

@SLYCKRYK Месяц назад

I wonder why Erika didn't like your comment?

@backcountyrpilot Месяц назад

How can someone be “squeezed out by wealth inequality”? Are you prevented from building muscle because Arnold Schwarzenegger has more than you? The economy is not a zero-sum game!

@tradespx9055 Месяц назад

Anybody can be in the 10%, there are millions of people that have achieved that and most of them started with nothing. I was homeless in my 20s after getting discharged from the military, so don’t tell me it’s not possible for anyone to do it. I didn’t get any help from any friends, parents, siblings, nobody. I did it all myself, with God’s help and a lot of hard work and elbow grease. I could’ve given up and been living in my car. Who knows I might be dead by now. Please don’t tell anyone that they can’t do it, you never know who that person might be. Try and lift them up instead for a change. Maybe you could be the reason that it happens for them. No one knows the one small thing that could change someone’s life for the better.

@Aortadetroit Месяц назад

The formula he is proposing is the only formula for average or below average earners. Financial success is relative. Galloway has always based his conclusions on the current reality which is super ugly right now for many if not a majority of people. He's in the moment and realistic. He regularly points out his advantages in life as a white male. That doesn't negate his philosophies here. It reinforces them...ie. young and of color? female?...well, it's the best it's ever been for you (100% True!). But this is what smart white guys do and you can too. The numbers might be much smaller for a Starbucks worker but the theory stands. It's AmeriKa. No affordable health care, eduction, housing, etc. Until that changes you better bet on living a long time and plan accordingly. That might mean no big wedding, no fancy cars or vacations. Just a good happy life focused on the real wealth of life, fun, natural activities, family and friends and the whole time your investments are on autopilot and in the same investments as Warren Buffet.$

@sparklemotion86 Месяц назад

Amen @rafalrocks

@kasomeno Месяц назад

I love the S & P 500

@julieinfante22 Месяц назад

Great talk! Helped a lot.

@ASMRMoneyMentor Месяц назад

I love this❤ So tue from my personal experience building wealth. Thanks for posting this video!

@cristinelpricop 25 дней назад

Thank you!

@jafrasar1 Месяц назад

What a rockstar Scott Galloway is.

@delayedgratification581 29 дней назад

Lots of quality advice in this one!

@lisajane4330 Месяц назад

Great interview, so much great advise, thanks Erika. Totally agree with modelling behaviour for your children, this is a great reminder for me to be aware of for my children.

@getfinfab Месяц назад

Brilliant advice love that you’re doing a challenge to get people started

@hellothere2744 Месяц назад

Very humble and calming voice. It was super nice to listen to Scott, but I do have some personal critique of my own. Doesn't this lead to the typical stereotype of having a stable income and making good money, but living so humbly that you end up with a lot of savings at a very old age? Sure, if you are trying to secure generational wealth then that's perfect, but I would enjoy a nice and somewhat expensive vacation, educating myself further (usually using financial means to pursue my interests), planning a nice wedding etc.

@AlanaBertozzi Месяц назад

I was so moved by this interview!!!!!!! I really enjoyed it

@NeonNightmares1 Месяц назад

your videos are so great, thank you, always really great content 🥰🥰🥰

@dianncotterell5531 Месяц назад

I love the idea of gamifing saving

@yvonnehyatt8353 17 часов назад

If possible-print it out on the video -The wealth formula thanks.

@foreignermakingmoney-phili1458 14 дней назад

great vid

@DoctorChadd Месяц назад

Awesome wisdom in this video

@canrightc Месяц назад

Scott provides excellent advice.

@cyclingphilosopher8798 Месяц назад

Another Scott who would be interesting to try to get on your podcast is professor Scott Cederburg.

@greenwallscapes Месяц назад

This is worth the time. This guy has such an interesting perspective!

@darealsgf468 23 дня назад

Been investing since last year i’m currently 21 and I’m still early but this works so imagine doing this for years to come 🔥💯

@Susanhartman. 7 дней назад

The whole point of wealth for me is freedom. My magic number in my mind is 5 million needed at 65 to not worry about anything. Am i better off investing a good portion of my income into stocks or saving my earnings to achieve this goal?

@Ochocientos477 28 дней назад

This was massively good holllyyy foookkkk lfgggggg!!

@winnetou9706 9 дней назад

Good podcast overall, the one thing that I disagree with is the discussion on index funds which I believe is a lot more subtle. If the world was made only of index funds and had no active managers/investors, there would be no way to know what the prices of companies should be, other than through self-reinforcing algorithms. The reason index funds do well is that there are too many active managers who decide where the prices of companies are with a lot of active work! While index funds take those prices as given, i.e. they use the work by the active managers implicitly and freely. But in a world where index funds take over there would be no such active pricing guidance. In such a world index funds create their own macro inefficiencies and their own macro-instability and active managers would start outperforming again. There is probably a limit point of market share where passive index funds no longer continue to be a good/efficient investments. I would suggest that people should have their own financial literacy and that takes time and effort.

@ScottLarrry Месяц назад

It seems like a solid way to generate extra income, but I wonder how it would affect one's portfolio in the long run.

@OliverLiam-px3vx Месяц назад

I've dabbled in covered call trading before. It can be lucrative, but if not planned well, it could lead to significant losses, especially in a volatile market.

@MelissaHobbs-qm8wi Месяц назад

Plus, considering the current global economy, it's essential to be cautious. Economic downturns or geopolitical events can greatly impact the effectiveness of this strategy.

@ChloeCarter-kd7gz Месяц назад

The problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.

@joeyparra3937 Месяц назад

Scott Galloway 💯🥃

@user-wv8zz1iv5v Месяц назад

Beautiful humain been this man ❤

@tomv7986 Месяц назад

The only people I know that are ahead are people who got support from family. People who need to do everything on their own in 2024 are constantly behind the curve.

@lisajane4330 Месяц назад

Same, even my Dad got help by his Dad with getting into the housing market in the late 70's. Not playing victim but my husband & I haven't had that luxury from any relative.

@tmbara Месяц назад

THIS IS GOOD CONTENT

@Brayness Месяц назад

Ironically, he mentioned SPY, which is not a low cost index fund (comparatively)

@CC-wu6hq 25 дней назад

It's sad that I taught for 36+ years--a passion--which proved to be a huge financial mistake. Who is going to go into these jobs if it is all about money?

@pwatom22 Месяц назад

Yes absolutely, however... When everyone starts doing the same thing then the yield comes down, like competition in business. We have the greatest wealth divide ever, debt as a percentage of GDP getting out of control. Real estate really became a commodity over the last 15+ years. Getting cash positive return renting out property becoming harder. Absolutely you have to understand how the game is played ! And watch out, the rules will change over time.

@tharpeaddy Месяц назад

Anyone else thinks he looks like Dave Ramsey? I thought it was him He still looks like Dave Ramsey after watching for 5 mins😂

@kasmstamps1897 Месяц назад

First off 5:34 slowly. Before July 29 2024 buy 10 TSLA. About 2k now (April). Then forget you have them for at least 10 years (and don't even think of it as an asset - your holding it trust for your future self - to yourself always be true). Meanwhile, if situation allows; appreciate home cooking, wear outfits 30 or more times a year, choose to live smokefree, only one subscription at a time, ... Just being able to watch YT you are more fortunate than most in the world.

@sutats 21 день назад

25:10 lol

@dalepetersen1166 Месяц назад

The recipe is to have a goal of a 100k in stock before 27 years old and keep putting 20% of income in stock

@realdeal139 26 дней назад

Love Erika’s video, but for some reason RU-vid keeps unsubscribing me to her channel

@thdurgdhg3329 Месяц назад

What's the best approach to get started? and how long do I wait before the lnvēstment can y!eld profits?

@showbizz3607 Месяц назад

It doesn't matter how long you wait, for this markêt? Opportunities must come. Invest for the long haul. Don't get too greedy and don't get too scared. It's important to make informed choices rather than relying on luck or impulse. it's best to partnēr with an advisor. I personally make a steady income of 25-60k through hardcore ln√esting and save 20-30%, and guess what? I'm already partnered with one

@thdurgdhg3329 Месяц назад

I get it! I know the amazing perks of having a pro by your side, but I haven't found one for myself yet either.

@showbizz3607 Месяц назад

I actually discovêred *Olivia Charlotte Oswald* on a CNBC interview, checked her out, and we started our partnership. You should definitely look her up, she could be a great partnêr for you too.

@ameliaemerson2250 Месяц назад

Thank you for offering your advice. Definitely grabbing this opportunity. Just found the webpage

@danielwright4931 Месяц назад

I'm happy to come across these recommendations. I work with her and I am impressed with the thoroughness and professionalism of the investment diligence packages she provides.

@BarnabyBarry Месяц назад

An average CALPERS pension is over $100K USD w COLA work 30 years and live until 90-make over 4 million guaranteed for life! Then you feel financially comfortable and you help people financially for the rest of your life!

@chriswebb4797 21 день назад

I can see some of his points, but I would argue two things. Diversity in the market will raise allow for wealth security, but it does not build it. As for stoicism, this is not realistic for many young men who are under 6' who have to make an impression to find a partner. I would even add, that a guy who spends some cash on their clothing and appearance could find a relationship which will inspire them for decades, which will raise their income and their wealth level.

@chriswebb4797 21 день назад

Ok, later in the video he addresses some of this which is good.

@chrislastnam6822 Месяц назад

If no one went on trips, bought nice clothes, went to fancy restaurants who would get rich?

@chrislastnam6822 Месяц назад

Cars go down in value but houses go up.

@jessewerner2119 12 дней назад

This dude is hilarious. If you can tap into his humor its wild.

@mobdroitchmobdrovitch9633 Месяц назад

Taking advice from broken ones Seriously !!!!!

@zacharyfair6738 Месяц назад

25:00 did he say his son walk away with his girlfriend ?

@Mrshawnizm Месяц назад

thats what im tryna figure out lol bahaha but we must stay focused.

@anuajed4 Месяц назад

No, he said his oldest son came marching out his girlfriend, ie they had a baby and he wasn't as financially prepared for this moment as he wanted to be.

@doesntmatter5319 Месяц назад

You can't out-save currency debasement.

@tradespx9055 Месяц назад

Totally not true.

@Bulislava Месяц назад

In 2024,don't set new year financial goals without consulting a financial adviser.there expertise ensure a solid plan for success.Building wealth involves developing good habits like regular putting money away in intervals for solid investments.

@cr-iv1el Месяц назад

Thank you for your work, Erika. Just a thought: I love how capitalism has become this universal bad guy. Any financial system is only as good as the person behind it. This is the same logic that blames drugs, guns, etc... and not the people who are using them.

@chrislastnam6822 Месяц назад

Houses , not cars, show wealth in Los Angeles.

@KarlLarsen Месяц назад

At 25:00 does he say his son yelled at his girlfriend? it sounds like he said my son had the poor judgment to “ march out” at my girlfriend. Does that mean they got in a fight or he made a pass at my girlfriend? I think we are all dying to know what he said. Because it’s the Apex the story.

@ryankemp3602 Месяц назад

Marched out of his girlfriend. In other words, he had a kid.

@marsbar5366 Месяц назад

@@ryankemp3602 That is so weird how he says "his son had the poor judgement". His son was born.

@isasant6926 Месяц назад

Very interesting and great advice But these words are hmm “My son had the poor judgement marching out with my girlfriend” It seems he has the bad judgement to date a way younger woman that he should have had that his son and her were attracted to each other? Unless misinterpreting this expression 🤔 Either case even when he seems To have worked so hard to build wealth, try to teach solid moral and character foundations to his kids, it seems some people are born with some traits that are not possible to teach or learn. Hopefully he found a good partner now.

@AustinMathias Месяц назад

SPY is not low cost lol. I pay 1/3 of that expense ratio.

@jacquesfontenot3151 Месяц назад

Not their fault because they weren't taught?? How about was their fault because they didn't seek it out.

@zohcold 9 дней назад

Damn im old - SIZZLERS 😂😂😂

@righteousdivine Месяц назад

❤

@saifzzaman Месяц назад

Well the debasement/inflation of fiat money Vs your snp500 isn't much different 😅, find alpha outperform everything 😊

@805guy Месяц назад

So it’s a bad idea to be all in on alts right now?😂😂

@Progressive.G Месяц назад

Scott Galloway is a nice guy with a lot of really good ideas, but he's COMPLETELY disconnected with reality on his advice to young people. Ask Scott how much was tuition at UCLA when he went, or even how hard was it to get in when he was there? Ask him what the average cost of a home was relative to average income, which is how all these $80,000 government workers were able to build wealth as home prices appreciated from basically peanuts to millions of dollars. He's got Boomer insight and information, and while it's awesome to say "just invest in the S&P" or "start a business" the reality is that the younger generations have been cursed with massive debt and massive inflation...and wealth building is more a figment of who you are related to and not "patience and hard work."

@jeffdavis8811 Месяц назад

Fortunately, you are incorrect. Yes, tuition was lower when he was in school but so was everything else, including income and wages. If I had a negative outlook based on the fact that a loaf a bread cost 20 cents in 1970 and it is now $7, then I have failed before I even started. Costs are all relative to the now, not the then, and those who understand that will always be able to adapt and succeed. Scott did not invent this way of investing, but is basically reiterating what most other wealthy people have done. If you believe they don’t apply to the younger generation then you have already failed. The opportunities to succeed in this country are far, far greater than they ever have been. Stop listening to the gloom and doom of the media, take Scott’s advice, be patient and you will be financially secure. Scott’s ideas are so basic, simple and have been proven over and over. My words of wisdom: If you are chasing the quick dollar, you will lose your dollars quick.

@Progressive.G Месяц назад

@@jeffdavis8811 you're actually very ignorant, and although you think you're intelligent because you can write out simple minded concepts in a run-on/wordy way... you're still just simple minded. The fact is that NO, tuition has gone up exponentially way more than inflation, as have the cost of housing. Basically your entire diatribe essay can be summarized in one word: inflation. And my response: no, you're fundamentally wrong.

@gardenia8085 Месяц назад

@@jeffdavis8811 ...agree with you. I remember when I was in my late 20s asking a coworker who was late 50s about his first home purchase. It cost something in the $20,000-30,000 range back in the late 1960s in Southern California. I asked so what % was the mortgage of your monthly salary? So even though to my ears it sounded very cheap, it was still 35-40% of his pay.

@Progressive.G Месяц назад

@@jeffdavis8811 I wonder why my reply to you keeps getting deleted? 🤔 I'll just sum it up: your response is basically an essay of complete ignorance. But let me help you out: instead of writing a word salad, try to be concise because it'll make you sound smarter. I'll sum up your reply for you and give you a brief response. Your argument: *INFLATION* ‼️‼️‼️ My response: *NO, it has very little to do with inflation and a lot more to do with price gouging, decades of de-regulation, and a tax system that overburdens the middle & working classes.* House prices have been exponentially (and artificially) inflated due to private corporations buying millions of homes across the country and we have a lack of new and affordable homes being built, hence an unprecedented housing crisis that has had a severe impact on rents across the country. So please, keep the simple-minded arguments to a minimum of 120 characters next time. 👍

@ProgressiveG. Месяц назад

@@jeffdavis8811 I'll just sum it up @jeffdavis8811 response: an essay of complete ignorance. My advice, instead of writing a word salad, try to be concise because it'll make you sound smarter. Here's a concise summary of your argument, and then give you a brief response to it. Your argument: *INFLATION* ‼️‼️‼️ My response: *NO, it has very little to do with inflation and a lot more to do with price gouging, decades of de-regulation, and a tax system that overburdens the middle & working classes.* House prices have been exponentially (and artificially) inflated due to private corporations buying millions of homes across the country and we have a lack of new and affordable homes being built, hence an unprecedented housing crisis that has had a severe impact on rents across the country. So please, keep the simple-minded arguments to a minimum of 120 characters next time. 👍

@johnbrown1851 Месяц назад

Remember, it's cheaper to keep her!😂

@gardenia8085 Месяц назад

Sometimes "her" don't want to be kept...and leaves on her own 🤣

@mississippiapple1078 Месяц назад

What did his son do?

@DM0619 Месяц назад

Ericka people did not invest there money properly The people who are working at 60 and 70 did not invest Have to now while the interest is high have to chase the 5.0 % Rates and even higher at 5.25% I just got in CD . I even put into annuity 5.45 % for 4 years The high rates are not going to be around to much longer

@kevinwelsh7490 Месяц назад

money, money, money. this guy lives for being among the 1% is that what life is for?

@davidleong6606 Месяц назад

Scott dude, i liked and appreciated your opinions and insights but dude, Jesus Christ is not a filler cuss word, to me and maybe some listeners in Erika’s audience, He is The Son of God, their Savior. Please be mindful and respectful and disciplined and gracious and generous as you said… same goes for if you used Muhammed or Buddha in such a manner. 🙏🏽 thx.

@kazz1986 Месяц назад

You can't expect others to speak how you prefer them to.

@markbernhardt6281 Месяц назад

Women investors are like women golfers. The dudes hit as hard as they can and end up in the trees, in the water, over the clubhouse. The women just take their time and put it down the fairway. Not as far but right down the center.

@cJ-ms1hd Месяц назад

Hello Erika, I sent you an email

@friarnewborg9213 Месяц назад

Well. NO. The system is FREE ENTERPRIZE, not Consumer Capitalism. That is a stagnant pond

@jimsummers487 28 дней назад

Step 1: Figure out what the government will subsidize ( it’s Wall Street ) Step 2: Divert some of your labor units to wall street

@WatermelonLoverx Месяц назад

TOOO EARLY TO BE TRUE-

@jimywealth4628 Месяц назад

yes everyone has a freaking podcast and polluting the "internet" so decades from now there will be no plumbers or electricians.. I like all these people acting like helping world. Take away monetization and see how all these "wonderful" people still post..