Hello you savages. Watch the full episode with Scott here - ruclips.net/video/gZ5K4iReUnE/видео.html Get a Free Sample Pack of all LMNT Flavours with your first box at www.drinklmnt.com/modernwisdom
Scott was given a free education, he uses it to write books and sell speeches. He gets on corpo boards and shakes them down for DEI cred, basically he is a HACK.
The stock market is a very good way to make passive income. I have heard of several investors who were making more than $40k a month from the market. I'm ready to go into the market now, but I'm careful to not make a mistake. Or are there are safe bets?
Agreed, despite my rookie knowledge of investing, I have a financial advisor who did the trick in a bit more than 6 months after a lump sum capital of $500k, and I've so far made a fortune. I'm now buying real estates, gold and silver as advised by my FA.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
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
I got out of the real estate investing market about a year ago. I think it's time to get into the stock market, What's the best strategy to do so with around 200K?
Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future
Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future
This is why I entrusted a fiduciary with my investmnt decisions. Many underestimate advisors until emotions lead to losses. My advisor crafted a tailored strategy aligning with my long-term goals, guiding entry and exit points for the equities I focus on. This has grown my portfolio to over $850k. My personal best so far
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.
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
Some individuals minimize the importance of counsel until they make regrettable mistakes. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
How can I participate in this? I sincerely aspire to establish a secure financlal future and i'm eager to participate. Who is the driving force behind your success?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Rebecca Nassar Dunne” and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Creating wealth entails establishing positive routines, I had only $78k to my name at 42 when I first woke up to this reality. I chose the stock market as a medium of growth, got an excellent financial advisor, Financial management is a vital subject that many avoid, often leading to future regrets.
Indeed, currently I'm managing my finances wisely and being frugal. In the last 19 months, my investments grew by 43%, adding over $500K in profits. However, I've had losses in the past month, making me anxious. I'm unsure whether to sell everything or wait.
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Diversification is the secret to optimal performance. This is why I have my interests set on market sectors based on performance and projected growth, such as the EV sector, renewable energy, Tech, and Health. Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE
Safest approach 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. its important to seek the guidance of an expert
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.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfoIlo allocation
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.
1. Definition of Wealth: Scott Galloway defines being "rich" as having passive income that exceeds your expenses. This concept emphasizes financial security and the ability to live without financial stress. 2. Focus on Main Hustle: Galloway advises against prolonged side hustles, suggesting that dedicating extra effort to a primary job can yield greater returns. Importance of Time: He highlights the power of compound interest and urges young people to invest early, emphasizing that time is a significant advantage. 3. Control Spending: Galloway stresses the importance of controlling spending and being disciplined about saving and investing in low-cost ETFs and index funds. 4. Diversification: He underscores the necessity of diversification to protect against market dynamics and reduce financial and emotional risks, recommending not to invest more than 3% of net worth in any single investment. Thanks for the amazing video. I've been collecting wisdom like this in my channel as well!
So basically get a job, which most people do anyway out of necessity - and control your spending? Wow, genius level amazing advice man. Thanks for providing this summary, I won't watch this useless video with a hyperbolic title
@@nKarje Just because you supposedly understand all of this already that doesn't mean everyone else does. Keep acting superior if that makes you feel good, but don't feel the need to bitch about other people explaining it in a way that teaches others. To be clear, the investment tips is by no means something EVERYONE knows already. You just had a half-decent education on the topic.
@@nKarje There’s a saying that goes something like “All the most important financial advice can fit on the back of a post card”. Nevertheless everybody needs a bit of financial advisory at least sometimes.
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.
i'm blown away! mind sharing more info please? i am a young adult living in Miami where i've encountered several millionaires, and my goal is to become one as well.
NICOLE ANASTASIA PLUMLEE' is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.
It all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro.Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
The recession is here, where do investors look at for wealth gains now? mortgage rates still on the rise with higher imports and lower exports, yet the Fed is to lessen cost. Something will eventually break if they keep raising interests and quantitative tightening.....
if you want to hold on to cash, put it in a safe deposit box, if you want assets, buy things people need in a shtf society, food, ammo, wood, water filters, tools, have a skill at building and fixing
Agreed, I've always delegated my excesses to a pro, ever since suffering portfolio steep-down amid covid-19 outbreak. As of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments, and only work 7.5 hours a week.6
My CFA Julianne Iwersen-Niemann 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..
I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders
"Rebecca Noblett Roberts" is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look her up.
Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money or you could hire a financial expert.
I totally agree; I am 66 years old, recently retired, with approximately $1.2 million in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, I didn't do all this alone, but with the help of a financial advisor. Having one is currently the best way to trade in the stock market, especially for people nearing retirement.
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
'Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
1. Focus 2. Find what you are good at 3. Double down on it 4. Diversification 5. Stoicism 6. Save more than you spend and less than you make 7. Save and appreciate how powerful time and compound interest is I know how to make you rich, that's the good news, the bad news is... Slowly
I’ve been diligently working, saving and contributing towards financial freedom and early retirement, but the economy so far since the pandemic has eaten away most of my portfolio, what I want to know is this: Do I keep contributing to my portfolio in these unstable markets or do I look into alternative sectors.
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.
Finding financial advisors like Carol Vivian Constable who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
My 40 year old self wishes I had this 10 years ago. The full is gold. There are many ways to achieve financial freedom but if u focus on the big rocks he outlines you’ll be happy when u get there. I am killing it now in all areas of life.
The truest thing Scott said, "The majority of self-made people are good people. The reason why is, if you want to be wealthy, you have to collect allies along the way. People want to have to put you in a room of opportunities... The only way it's going to happen is if you show generosity and character from an early age."
@jumboshrimps4498 because they exist in a space divorced from accountability and community. They can fail and fail and fail and still get bailed out. They mistake their privilege for competence and expertise, and their families' political connections allow them to inherit power without any sense of responsibility to stakeholders.
@@The27thS What does that have to do with you? If my kids want to waste the millions I give them, it's none of your business. Where does your sense of entitlement come from?
The fact is we all had heard something in these lines years ago when we were in our 20s but we weren't equipped with a fully formed brain which could fathom such words and we decided to take what we wanted to hear at that point in life.
I invest 20% of my income in dividen paying stocks. I am a security guard at a hospital. I have a side hustle that I'm hoping I can take full time when I retire.
@@carlyndolphin This. Invest into a bit more risky funds since time allows you to go through some losses at the beginning and then when you're close to retiring transition into dividend stocks or just have a good lump sum from the other method and withdraw from it periodically. Not financial advise, solely my opinion and you should either go to a qualified financial advisor since you situation would be different from mine and or do your own research on the topic.
@@carlyndolphinthe risk of investing in no dividend stocks is that if they go under due to poor management you've got nothing. At least with dividends you'll have been paid something.
I was doing this but realized my investment horizon was way to long for this. I switched to growth (low cost) etfs now. Dividend paying stocks are good closer to retirement but get into growth and contribute for the long term in tax efficient accounts.
I freaking needed this today. Been feeling like a weirdo living like a poor man and investing instead of upgrading the lifestyle while everyone around me is vacationing and squeezing their finances.
Older you get the less you should want....pay all your shit off and enjoy building a bank account and be content with WHAT YOU HAVE. Focus on the congruency and net positive of your physical health, mental health and improving your relationships. Money is a catalyst not the main goal of success.
The simple thing about life is that 1% listen and actually do what those who have lived it and don’t. All these facts he’s spoken will not be done by 99%. And it’s this 99% that will cry and complain until their grave why they never made it.
My opinion for young people is you need to be both .a dividend investor and a growth investor, and you can let the market determine your allocation. i use an FA diane sarah olson. For example if I just got a 1000% gain on Tesla and then pulled 85% of the money out and went into a load of more stable dividend stocks like AT & T. So I would say diversify, but also use those growth opportunities to build the capital to invest in the dividend payers (or in cash flowing real estate)
Thanks for sharing, I just looked her up on the web because this is equally important to me, and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Thanks for the tips. I’m broken maybe, cuz hearing about “selling companies” for millions is just depressing. Messed my life up. Who can invest when cost of a home is like 8x what people make annually? So it’s frustrating watching this video too. But thank you for trying to share how you got success. ❤️
I am certain that the topics in this video are more relevant to me than to the average person, but regardless, I wrote almost 2,000 words of notes on this 15-minute clip alone. The amount of wisdom and good advice shared in this video is unbelievable! We are so lucky to have Scott Galloway.
So much wisdom compressed here. About managing what you need to live, the downside is that I doubt someone could learn this kind of stuff from someone else talking.
Your commitment to educating your audience is truly admirable. We all aspire to attain financial stability and improve our lives. This goal can be achieved through smart investments, mindful spending, and prudent budgeting. I'm thankful for realizing the significance of striving for financial freedom from a young age.
Even though I engage in investing, I feel disheartened by my lack of expertise in assessing the performance of individual companies and determining the optimal timing for stock purchases. The erosion of my financial reserves due to inflation adds to my concerns. At this point, I require precise market trajectory information, but I find myself unsure about the appropriate course of action.
I wholeheartedly concur, which is why I opt to entrust the day-to-day decision-making to an investing coach. With their specialized knowledge and extensive research, it is highly unlikely for them to underperform. Their expertise is centered around harnessing the asymmetrical potential of risks while also employing measures to safeguard against unfavorable outcomes. I have been collaborating with an investment coach for more than two years
i like what he was saying about the side hustle thing. in my experience, i knew nothing about lawn care, but i did it as a side hustle. it failed, although i made a lot of money, i couldn’t focus 100% on it. i know that sounds like an oxymoron. but i learned what not to do in business, and what to do in business. the freedom of working for yourself was sweet for a point. but there’s a lot of costs. i didn’t give up, but i sold all my old equipment, went back to trucking, making enough to take care of my other investments and then some. during this whole process of starting a business first time, i learned a LOT. it is not easy, but it ain’t hard either. we gotta find something we are good at, take risks, but have a back up
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Abby Joseph Cohen. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.
Thanks Mate, the sad truth is that no one has a clue, we all react to what happens as it happens and try to analyse it but can’t predict an iota of what is going to unfold in the markets… content creators are like amplifiers, when times are good they affirm it and try to tell you why it’s good and that it’s looking bullish but then all of a sudden the market turns bearish and everyone affirms it again and try to analyse why… it’s so sad that many are so powerless and it's not about guessing the market's next move; it's about playing it smart and steady during trading...managed to grow a nest egg of around 23k to a decent 119k$ in the space of a few months... I'm especially grateful to Abby Joseph Cohen Service, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
Been debt free for two years thanks to Abby Joseph Cohen Services. So sad to see my friends in their 40s with car loans, mortgages and credit card debt.
None of these productivity folks seems to grasp its 2500 quid to rent an apartment in Dublin or London. We are fucked because the generation before us pulled the ladder up behind them. An Average salary doesnt get you an average house in 2024. You need a great salary to get a shit house.
Exactly - also applies to most of the South East of England, places like Cambridge, Oxford, coastal Cornwall. Diabolical just how bad the housing situation is in the UK and Ireland especially, but also the Western world at large.
I hear you, but as a member of “the generation before”, all I can say is we bought the “things can only get better bullshit” of Blair. Yes we saw house prices spike as the newly arriving demand massively outstripped the supply of houses. Yes we further tipped the balance by buying houses as retirement vehicles after brown wrecked the pension system. And yes all sorts of new and weird family dynamics were encouraged resulting in a flood of broken homes, which further ramped up demand. Suddenly parents with a child needed 2x2 bedroom homes. So sure, blame us if you want… but let’s see if your generation don’t vote for Blair without the flair and green light the continuation of open border, broken family, UK disinvestment welfarism that started the whole ball rolling.
@@thedog5k I work for the government currently and no they did not. I’ve had my car broken into and vandalized a few times though living in low income areas. Sometimes they didn’t even bother to steal anything. Just wanted to break a window for fun. Can’t say that’s ever happened to me in a nice area. Ask any real estate investor if the tenants in their low income homes treat the property the same way as tenants in higher income homes
@@thedog5k Are you implying that people who earn lower incomes are traditionally “good” or “fair?” On a number of occasions I’ve seen poorer tenants skipping rent, payments, childcare costs, etc but they always had money for pot, alcohol, fast food, nice clothes, etc. Doesn’t seem very good or fair to break a contract and neglect your child just for meaningless instant gratification
This is the one thing he said that I disagree with. They may be nice to people in person but most if not all billionaires absolutely got there off the backs of others. Even Warren Buffet scared whole industries and ruined many lives to make a shit ton of money and he is one of the nicest people around. My opinion is you may be able to be very well off but if you are fair on the way up you will never be a billionaire.
Finally someone is on point. I don't care how much someone makes i always say let me see your debt and that separates the rich from the poor. If your married you are poor or going to be poor after the divorce. I remember as a kid I realized why Scrooge Mcduck and Glumgold were rich. They never got married. They should show the poor people were married, kids ec.
Man, I've been saying the "go to a cheap school and invest the difference and you'll be better off" for years! I don't agree with everything Prof G says, but this is so true. I'd love to see the math on community college/trade school vs. mediocre private college and the difference if you invest tuition by the time you are 35.
Don’t conflate wealth with having a lot of money. Financial security is a must but family, friends, a healthy lifestyle and a true joy if living is true wealth.
I’m your average Joe, who actually struggled to make it through high school and I retired when I was 55, here’s how I did it. Find a trade that you’re good at. Became a manager, so you make twice as much as the people working under you. You’re going to work your ass off. Buy everything for cash. Put the max in your 401K, so you’re not paying any taxes on that money. Pay as much as you can on your house payment. Drive a basic car, when I was working I had a Honda Civic and rode my bicycle to work. Draw the money from your 401K so you pay no or as little possible in taxes. I’m 65 now, live in CA and my life is awesome 😎 🖖
I hate that on impactful financial videos like this, the comment sections are just filled with bot comments. RUclips has an obligation to be more dilligent removing bot accounts. Scott Galloway is a great financial source to listen to, people shouldn't be allowed to solicit scams in the comments
I understand that income vs. spend is a useful stat, but the quality of life of his friend making $3M-$14M isn't even in the same universe as most. Regardless of stress about not saving money I can't imagine that any aspect of his life falls short. Plus if he decides to start saving at 55...60...65...he'll still be better off than 99% while having spent an ungodly amount of money in his life. Love Scott, but don't understand this comparison.
@@user-ee1fn4vt8b Since it's Scott defining rich as that, there's nothing wrong with it. And if it's solely a "he feels stressed about the spending habits so he's not really rich no matter how much he makes", you're completely right. However, high income just correlates to so many amazing things (e.g. life expectancy, success of children, happiness, etc.), I just feel like it's insincere to say this dude is going to be more "stressed" about debt while sipping on vintage whiskey in the Hamptons than someone who is making more than they spend. Just my two cents.
@@AlexMcDanielsAbsolutely fair. But he can also afford to go on a full spiritual journey to fix that mindset and probably not end up on the street. I'd imagine it's probably a lot more difficult to pull someone out of poverty or into a higher income bracket, but who knows, fixing one's mental state is a journey too.
Wow dudes in this comment thread don’t get it. Yes, Scott’s principle applies regardless of income bracket. If you spend more than you make you are mathematically broke and should be stressed about money. We get it. What the OG commentator is saying is within that principle income brackets are not analogous. Focusing on the balanced book between someone making $75k and 3.5 million misses the difference in lived experience, spending power, quality of life, opportunity, access, leverage, medical care, move-ability, and much much more. Hell, the millionaire also has many outlets through buying power to pay someone else to solve their problems via lawyers, accountants, financial advisors etc while the person making $75k has to solve all those problems themselves and within their family. Don’t don’t get lost in the principle folks. You can learn the lesson without missing the forest from the trees, especially since most of you are probably NOT millionaires.
He is really right about just investing college tuition, put it in a trust where they can't have it for 20 or 30 years and maybe help them with rent for a few years while they find a job or go to community college
Get a job that makes way more money than you need to live (100k+) invest as much as you possibly can in an S&P 500 mutual fund.. and then just wait. There's no realistic 'get rich quick' scheme.. but this is the way to realistically build wealth over time.
If rich people own businesses that depend on other people to make them rich and they don’t handsomely pay their staff and workers that keeps them rich they can not also be “good and high moral’d high character” people. Taking care of the people who make you rich is either written into the business model or not and if share holder annual increases is the bottom line that cannot by definition be a good thing. You seem like you got rich a different way, I don’t think a lot of millionaires do it the way you did but it seems to me a lot of billionaires absolutely need to step on peoples faces on the way up. You are one of my favorite people to listen to on the internet and you’re very honest but you seem to not be 100% honest when speaking on rich peoples characters.
There’s always one off’s here and there but when I look around at the people in their 20’s and 30’s that are killing it, it’s not simply because of “hard work”. Not that those individuals aren’t grinding but they all have one big catalyst included in their story that is propelling them. Whether that be a good chunk of money handed down to them or their parents opening a door in whatever industry they’re in to fast track their careers. I haven’t done everything perfect in my 26 years of life but I’ve worked my ass off and have created a name for myself in my given industry, but when you pay 2,000$ a month on rent and another $500 vehicle payment on top of groceries and everything else just to live your life it’s hard to get going. I’ve always said that it’s really easy in life to make money once you have money but it’s tough to have money in the first place. Especially when you don’t come from money.
There is obviously a compounding effect in the very long term for large capital, but is not "automatic", and with the wrong strategies you can even lose more than you have. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated
There are experts with strategies that generate income 10x than the average or normal investor who is trying to build a portfolio. You just have to dig deeper and find such experts
I stopped listening and taking financial advise from these RUclipsrs, because at the end of the day, I end up with a bunch of confusing stocks without knowing when to take profit, 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.
@@mariaguerrero08This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation
Of course, because SPY always goes up and nothing ever happens to the economy ever, stock must go up. Yes, since S&P500's inception it has only ever gone up when you look at it in terms of years historically. When you look at it on a day to day basis, there's times where it goes down, goes up, stays where it is, etc. So, it depends on how you do it, it's risky and usually more complicated than you think it is, I personally would probably just buy a fund which mimics S&P 500 and invest a % into it each month but I'm not a financial advisor so that's only my opinion.
yeah but options you can lose money even if the direction is correct. You need sharp moves in either direction to make money on options. Otherwise you can be right and still lose, options I don’t recommend. They’re instruments for investors who own shares, they’re not designed to be speculated on.
I am from Miami United State🇺🇸, The difference Mrs Lucy Mary Liam makes in my life is second to none it's definitely a life changing kindness. I really appreciate her effort in my life.
Seeing my broker talked on RUclips, This was exactly how I got the recommendation about her for the past years. Hit $200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with $20k in July 2024
Her good strategies of making large amount weekly profits for her clients are totally outstanding. Investing my $1500 with doubt and withdrawing $12,300 with happiness. I ❤️ you Lucy.
Great video coverage market trends hint at lower prices, but this could also open doors for smart investments. Despite a possible short-term slump, remember the market's long-term potential. Downturns can be entry points for portfolio expansion. Success lies in informed decisions and strategic planning. Thanks to Shea Ardolf’s insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings. Kudos to the journey ahead!
The process of trading can be complicated when you have limited knowledge. However, with the right strategy and setups, you can be successful. That's the whole point of investing.
Bitcoin's role as a store of value and its potential for future growth make it an attractive investment option. BTC trading can be a thrilling way to participate in this digital asset's journey.
I realized that the secret to making a million is making better investment. I bought my 1st home at 21 for 87k sold for 197k, 2nd home 170k and sold for 320k, 3rd 300k and sold for 589k and buyers paid all closing costs expenses etc Not making up to a million before retirement is unfulfilled retirement.!!
I like this guy mostly excellent discussion, but I take exception to that last point. “A majority of wealthy people are really good people.“ From where I sit, most of them vote for tax cuts and vote to enrich themselves at the expense of the rest of society. Unfortunately that’s shortsighted for everyone, including themselves. He might be a good guy, many others might be good, but majority of the wealthy are more concerned about hanging onto their own wealth than anything else.
"One thing you should do is like: your coworkers kid is having a wedding I really should go". Imagine thinking a wedding would be impacted by your absence when you don't even know the person being married. A coworkers kid? I doubt they give one fuck if you are there. If you were friends you wouldn't refer to them as a coworker
The only discrepancy in Scott’s thinking: diversification is key, but side-hustles are a waste of time when you could invest that effort into your sole main career.
The difference between each claim is that he is referring to two separate phases of life. The first is making money, the second is keeping the money you made. His claim is that you need to be laser focused on one high value thing that you're really good at. Then diversify that wealth once you've made it, because it's not likely that your skill will remain valuable for your entire lifetime.
Except you'll never know what will take off. I spoke to a guy who did about 5 different things, some just purely out of interest (not a lot of money). Four years later and his top earning activities were completely different from what he started with, and he'd never expected the hobby side-hustle to grow the way it did to become his main earner. Now following the "focus on one big one" method would have seen him at risk when his main earning activity dropped off after a few years. He could have changed lanes when he saw the changing market, but we all know that early players in any game make the lions share when times get good, and late-comers will be lucky to make bank.
Saving money in a bank is for fools because inflation FAR outpaces the interest rate. It must be invested aggressively. For example, putting $15K on Trump to win presidency will win you $10K. THAT'S investing.
"But slowly" but that's fine. He's right. I've got time. I've never thought people got wealthy quickly. Majority of wealthy people are older for a reason.
All good stuff, but I believe wealth definition should be passive income (PI) > (burn rate (BR) plus savings rate (SR) ) - put yourself in position for opportunities AND/OR desire for greater future burn rate
@@kylebroflovsky6015 It's the other way around. In clip form, he sounds like I've been talking for 10 years. I'm rich too, I've done and say all the same things. There is nothing particularly original in Scott's patter. But in the big picture, I'm not rich like he is and I have not had his range of experiences and bigger ups and bigger downs. So, if you listen to him in long form his story arc is actually quite exceptional.
So true. Back in 2019 I started a job in Abu Dhabi. I made $108,000 base annual but spent only $2500. Every year I saved up enough money for the next 4 years.
Im 24 years old, making 60-70k a year with no wife or kids. Thinking of investing 75-80% of my income monthly in to index funds such as S&P 500 VOO. I have a car that's paid off, and i live in a house with my family, and dont pay rent. My only expenses are coffee, gas, and car insurance, and phone bill. I am building a second unit in my house in the basement that will rent out for 2000 monthly. Am i on a good track ?
I removed that "Should Bucket" long time ago even though I'm not financialy independet. If you care what other people think, the Should entity have power over you. But if you don't give Fs, Should is toothless.
I entered the workforce making $25K a year and retired 35 years later making $128K per year. Saved 20% of my salary every year. Despite a divorce 10 years ago, and making almost every investment mistake known, my networth is $2.5 million. My burn rate is much lower than my passive income from my portfolio.
The income vs spend is exactly how I’ve articulated it for years. The average profit per equity partner in my firm is GBP 2.8 million and you’d be surprised how close some of these guys are to everything falling apart. If they stopped working at this level, lives would collapse.
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Hello you savages. Watch the full episode with Scott here - ruclips.net/video/gZ5K4iReUnE/видео.html Get a Free Sample Pack of all LMNT Flavours with your first box at www.drinklmnt.com/modernwisdom
College use to introduce you to a same family level spouse
Scott was given a free education, he uses it to write books and sell speeches. He gets on corpo boards and shakes them down for DEI cred, basically he is a HACK.
The stock market is a very good way to make passive income. I have heard of several investors who were making more than $40k a month from the market. I'm ready to go into the market now, but I'm careful to not make a mistake. Or are there are safe bets?
It's wise to seek expert assistance when beginning your financial portfolio. market is volatile, so professional guidance is so important..
Agreed, despite my rookie knowledge of investing, I have a financial advisor who did the trick in a bit more than 6 months after a lump sum capital of $500k, and I've so far made a fortune. I'm now buying real estates, gold and silver as advised by my FA.
I've been considering but haven't been proactive. Can you recommend your advisor? Could really use some assistance.
*Marissa Lynn Babula* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
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.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.
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
I just googled her now and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
I got out of the real estate investing market about a year ago. I think it's time to get into the stock market, What's the best strategy to do so with around 200K?
I would rather delegate managing my portfolio to a well experienced advisor than watch my portfolio tank!
Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future
Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future
This is why I entrusted a fiduciary with my investmnt decisions. Many underestimate advisors until emotions lead to losses. My advisor crafted a tailored strategy aligning with my long-term goals, guiding entry and exit points for the equities I focus on. This has grown my portfolio to over $850k. My personal best so far
I could really use the expertise of this advsors
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.
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
Some individuals minimize the importance of counsel until they make regrettable mistakes. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
How can I participate in this? I sincerely aspire to establish a secure financlal future and i'm eager to participate. Who is the driving force behind your success?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Rebecca Nassar Dunne” and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Creating wealth entails establishing positive routines, I had only $78k to my name at 42 when I first woke up to this reality. I chose the stock market as a medium of growth, got an excellent financial advisor, Financial management is a vital subject that many avoid, often leading to future regrets.
Indeed, currently I'm managing my finances wisely and being frugal. In the last 19 months, my investments grew by 43%, adding over $500K in profits. However, I've had losses in the past month, making me anxious. I'm unsure whether to sell everything or wait.
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Her name is. 'AMY DESIREE IRISH’. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Diversification is the secret to optimal performance. This is why I have my interests set on market sectors based on performance and projected growth, such as the EV sector, renewable energy, Tech, and Health. Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE
Safest approach 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. its important to seek the guidance of an expert
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.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfoIlo allocation
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.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
1. Definition of Wealth: Scott Galloway defines being "rich" as having passive income that exceeds your expenses. This concept emphasizes financial security and the ability to live without financial stress.
2. Focus on Main Hustle: Galloway advises against prolonged side hustles, suggesting that dedicating extra effort to a primary job can yield greater returns.
Importance of Time: He highlights the power of compound interest and urges young people to invest early, emphasizing that time is a significant advantage.
3. Control Spending: Galloway stresses the importance of controlling spending and being disciplined about saving and investing in low-cost ETFs and index funds.
4. Diversification: He underscores the necessity of diversification to protect against market dynamics and reduce financial and emotional risks, recommending not to invest more than 3% of net worth in any single investment.
Thanks for the amazing video. I've been collecting wisdom like this in my channel as well!
So basically get a job, which most people do anyway out of necessity - and control your spending? Wow, genius level amazing advice man. Thanks for providing this summary, I won't watch this useless video with a hyperbolic title
@@nKarje Just because you supposedly understand all of this already that doesn't mean everyone else does. Keep acting superior if that makes you feel good, but don't feel the need to bitch about other people explaining it in a way that teaches others.
To be clear, the investment tips is by no means something EVERYONE knows already. You just had a half-decent education on the topic.
@@nKarjeexactly the principles of Dave Ramsey baby steps. It seems simple cause… well it is. And it works.
@@nKarje There’s a saying that goes something like “All the most important financial advice can fit on the back of a post card”.
Nevertheless everybody needs a bit of financial advisory at least sometimes.
All made up bullshit designed to hold power and control other people
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.
i'm blown away! mind sharing more info please? i am a young adult living in Miami where i've encountered several millionaires, and my goal is to become one as well.
NICOLE ANASTASIA PLUMLEE' is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.
It all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro.Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
Glad to have stumbled on this comment, Please who is the consultant that assist you and if you don't mind, how do I get in touch with them?
Elisse Laparche Ewing is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
The recession is here, where do investors look at for wealth gains now? mortgage rates still on the rise with higher imports and lower exports, yet the Fed is to lessen cost. Something will eventually break if they keep raising interests and quantitative tightening.....
if you want to hold on to cash, put it in a safe deposit box, if you want assets, buy things people need in a shtf society, food, ammo, wood, water filters, tools, have a skill at building and fixing
Agreed, I've always delegated my excesses to a pro, ever since suffering portfolio steep-down amid covid-19 outbreak. As of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments, and only work 7.5 hours a week.6
I could really use the expertise of this Consultant
My CFA Julianne Iwersen-Niemann 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..
Thank you for this amazing tip. I just looked up Julianne, wrote her explaining my financial market goals and scheduled a call
I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders
Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
"Rebecca Noblett Roberts" is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look her up.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money or you could hire a financial expert.
I totally agree; I am 66 years old, recently retired, with approximately $1.2 million in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, I didn't do all this alone, but with the help of a financial advisor. Having one is currently the best way to trade in the stock market, especially for people nearing retirement.
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
'Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
1. Focus
2. Find what you are good at
3. Double down on it
4. Diversification
5. Stoicism
6. Save more than you spend and less than you make
7. Save and appreciate how powerful time and compound interest is
I know how to make you rich, that's the good news, the bad news is... Slowly
I’ve been diligently working, saving and contributing towards financial freedom and early retirement, but the economy so far since the pandemic has eaten away most of my portfolio, what I want to know is this: Do I keep contributing to my portfolio in these unstable markets or do I look into alternative sectors.
Just try to diversify your portfolio to other market sectors, that way your investment is balanced and you don’t get to make so much losses.
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.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
Finding financial advisors like Carol Vivian Constable who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thanks for sharing, I just liquidated some of my funds to invest in the stock market, I will need every help I can get.
My 40 year old self wishes I had this 10 years ago. The full is gold. There are many ways to achieve financial freedom but if u focus on the big rocks he outlines you’ll be happy when u get there. I am killing it now in all areas of life.
The truest thing Scott said, "The majority of self-made people are good people. The reason why is, if you want to be wealthy, you have to collect allies along the way. People want to have to put you in a room of opportunities... The only way it's going to happen is if you show generosity and character from an early age."
It's not the self made people we have to worry about. It's their children.
I know a few rich people with questionable character and morals.
@@The27thSwhy do you have to "worry" about them?
@jumboshrimps4498 because they exist in a space divorced from accountability and community. They can fail and fail and fail and still get bailed out. They mistake their privilege for competence and expertise, and their families' political connections allow them to inherit power without any sense of responsibility to stakeholders.
@@The27thS What does that have to do with you? If my kids want to waste the millions I give them, it's none of your business. Where does your sense of entitlement come from?
Gotta be the best & most concise encapsulation of what true ‘wealth’ is I’ve come across
This is possibly the best video I’ve seen in a decade. I wish I was taught this wisdom at school 20 years ago. If only I could hit a rewind button….
The fact is we all had heard something in these lines years ago when we were in our 20s but we weren't equipped with a fully formed brain which could fathom such words and we decided to take what we wanted to hear at that point in life.
I invest 20% of my income in dividen paying stocks. I am a security guard at a hospital. I have a side hustle that I'm hoping I can take full time when I retire.
If you’re in wealth building stage it’s better to avoid dividends paying stocks and focus on growth index funds
@@carlyndolphin This. Invest into a bit more risky funds since time allows you to go through some losses at the beginning and then when you're close to retiring transition into dividend stocks or just have a good lump sum from the other method and withdraw from it periodically.
Not financial advise, solely my opinion and you should either go to a qualified financial advisor since you situation would be different from mine and or do your own research on the topic.
@@carlyndolphinthe risk of investing in no dividend stocks is that if they go under due to poor management you've got nothing.
At least with dividends you'll have been paid something.
I was doing this but realized my investment horizon was way to long for this. I switched to growth (low cost) etfs now. Dividend paying stocks are good closer to retirement but get into growth and contribute for the long term in tax efficient accounts.
Jack Bogle. You're welcome.
I freaking needed this today. Been feeling like a weirdo living like a poor man and investing instead of upgrading the lifestyle while everyone around me is vacationing and squeezing their finances.
I’m fine with living far below my means.
Older you get the less you should want....pay all your shit off and enjoy building a bank account and be content with WHAT YOU HAVE. Focus on the congruency and net positive of your physical health, mental health and improving your relationships. Money is a catalyst not the main goal of success.
The simple thing about life is that 1% listen and actually do what those who have lived it and don’t. All these facts he’s spoken will not be done by 99%. And it’s this 99% that will cry and complain until their grave why they never made it.
Your likelihood to be one of the 99% is 99%
Galloway is seriously such a refreshing and self aware person to listen
My opinion for young people is you need to be both .a dividend investor and a growth investor, and you can let the market determine your allocation. i use an FA diane sarah olson. For example if I just got a 1000% gain on Tesla and then pulled 85% of the money out and went into a load of more stable dividend stocks like AT & T. So I would say diversify, but also use those growth opportunities to build the capital to invest in the dividend payers (or in cash flowing real estate)
The real money is made from holding stocks, not from trying to predict the tops and bottoms of market cycles.
Thanks for sharing, I just looked her up on the web because this is equally important to me, and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I’d choose expertise any day because finding the right balance between investing and living is very important to me..
Thanks for the tips.
I’m broken maybe, cuz hearing about “selling companies” for millions is just depressing. Messed my life up.
Who can invest when cost of a home is like 8x what people make annually? So it’s frustrating watching this video too. But thank you for trying to share how you got success. ❤️
I am certain that the topics in this video are more relevant to me than to the average person, but regardless, I wrote almost 2,000 words of notes on this 15-minute clip alone. The amount of wisdom and good advice shared in this video is unbelievable! We are so lucky to have Scott Galloway.
So what makes you different to the average person?
@@michaelholmes8848His ability to extract 2000 words from 15 minute clip, I guess
So much wisdom compressed here. About managing what you need to live, the downside is that I doubt someone could learn this kind of stuff from someone else talking.
Not true, I've had no real life role models for my FIRE journey. Learned from YT, podcasts and books.
"Greatness and wealth is in the agency of others". So true
Incredible. I ignored this video in my feed for months. Glad I took the decision to watch in full.
Your commitment to educating your audience is truly admirable. We all aspire to attain financial stability and improve our lives. This goal can be achieved through smart investments, mindful spending, and prudent budgeting. I'm thankful for realizing the significance of striving for financial freedom from a young age.
Even though I engage in investing, I feel disheartened by my lack of expertise in assessing the performance of individual companies and determining the optimal timing for stock purchases. The erosion of my financial reserves due to inflation adds to my concerns. At this point, I require precise market trajectory information, but I find myself unsure about the appropriate course of action.
I wholeheartedly concur, which is why I opt to entrust the day-to-day decision-making to an investing coach. With their specialized knowledge and extensive research, it is highly unlikely for them to underperform. Their expertise is centered around harnessing the asymmetrical potential of risks while also employing measures to safeguard against unfavorable outcomes. I have been collaborating with an investment coach for more than two years
How do I reach out to a financial advisor, my portfolio has been struggling since 2022 and I’ve been holding on by the skin of my teeth.
Rebecca Nassar Dunne is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Scott Galloway, provides excellent advice. I hope he continues to do this for a long long long time. Thank you again.
I like this guy. Makes a ton of a sense and very humble and authentic.
i like what he was saying about the side hustle thing. in my experience, i knew nothing about lawn care, but i did it as a side hustle. it failed, although i made a lot of money, i couldn’t focus 100% on it. i know that sounds like an oxymoron. but i learned what not to do in business, and what to do in business. the freedom of working for yourself was sweet for a point. but there’s a lot of costs. i didn’t give up, but i sold all my old equipment, went back to trucking, making enough to take care of my other investments and then some. during this whole process of starting a business first time, i learned a LOT. it is not easy, but it ain’t hard either. we gotta find something we are good at, take risks, but have a back up
Get jacked and get money. Thanks Scott. Apparently he did both and he’s STILL talking.
I love Scott the way he breaks down wealth in the beginning is perfect!
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Abby Joseph Cohen. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.
Thanks Mate, the sad truth is that no one has a clue, we all react to what happens as it happens and try to analyse it but can’t predict an iota of what is going to unfold in the markets… content creators are like amplifiers, when times are good they affirm it and try to tell you why it’s good and that it’s looking bullish but then all of a sudden the market turns bearish and everyone affirms it again and try to analyse why… it’s so sad that many are so powerless and it's not about guessing the market's next move; it's about playing it smart and steady during trading...managed to grow a nest egg of around 23k to a decent 119k$ in the space of a few months... I'm especially grateful to Abby Joseph Cohen Service, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
How do I reach out to her, if you don't mind me asking?
Been debt free for two years thanks to Abby Joseph Cohen Services. So sad to see my friends in their 40s with car loans, mortgages and credit card debt.
Wtf is this, advertising?
@@chrisr326 i think so, mad world
I love that definition: my passive income is greater than my burn (my expenses). I will write this down
None of these productivity folks seems to grasp its 2500 quid to rent an apartment in Dublin or London. We are fucked because the generation before us pulled the ladder up behind them. An Average salary doesnt get you an average house in 2024. You need a great salary to get a shit house.
Start small, live healthier improve your mindset and remove victim mentality ❤👊🏾
Exactly - also applies to most of the South East of England, places like Cambridge, Oxford, coastal Cornwall. Diabolical just how bad the housing situation is in the UK and Ireland especially, but also the Western world at large.
@@StartledNewt i am too young to even understand roughly what it takes to own a property let alone in a high income city
@@mizzo_1 hahahah. get up out of that.
I hear you, but as a member of “the generation before”, all I can say is we bought the “things can only get better bullshit” of Blair. Yes we saw house prices spike as the newly arriving demand massively outstripped the supply of houses. Yes we further tipped the balance by buying houses as retirement vehicles after brown wrecked the pension system. And yes all sorts of new and weird family dynamics were encouraged resulting in a flood of broken homes, which further ramped up demand. Suddenly parents with a child needed 2x2 bedroom homes.
So sure, blame us if you want… but let’s see if your generation don’t vote for Blair without the flair and green light the continuation of open border, broken family, UK disinvestment welfarism that started the whole ball rolling.
I love what he said at 13:05. The wealthiest people I’ve come across historically have been kindest to me
Are they kind when they refuse to match your check with inflation?
@@thedog5k I work for the government currently and no they did not. I’ve had my car broken into and vandalized a few times though living in low income areas. Sometimes they didn’t even bother to steal anything. Just wanted to break a window for fun. Can’t say that’s ever happened to me in a nice area. Ask any real estate investor if the tenants in their low income homes treat the property the same way as tenants in higher income homes
@@christians131 Rich people not being ooga booga's doesn't mean they are good or even fair. Big difference.
@@thedog5k Are you implying that people who earn lower incomes are traditionally “good” or “fair?” On a number of occasions I’ve seen poorer tenants skipping rent, payments, childcare costs, etc but they always had money for pot, alcohol, fast food, nice clothes, etc. Doesn’t seem very good or fair to break a contract and neglect your child just for meaningless instant gratification
This is the one thing he said that I disagree with. They may be nice to people in person but most if not all billionaires absolutely got there off the backs of others. Even Warren Buffet scared whole industries and ruined many lives to make a shit ton of money and he is one of the nicest people around. My opinion is you may be able to be very well off but if you are fair on the way up you will never be a billionaire.
Finally someone is on point. I don't care how much someone makes i always say let me see your debt and that separates the rich from the poor. If your married you are poor or going to be poor after the divorce. I remember as a kid I realized why Scrooge Mcduck and Glumgold were rich. They never got married. They should show the poor people were married, kids ec.
Man, I've been saying the "go to a cheap school and invest the difference and you'll be better off" for years! I don't agree with everything Prof G says, but this is so true. I'd love to see the math on community college/trade school vs. mediocre private college and the difference if you invest tuition by the time you are 35.
This was a GREAT PRESENTATION. I took a whole bunch of notes.
Don’t conflate wealth with having a lot of money. Financial security is a must but family, friends, a healthy lifestyle and a true joy if living is true wealth.
Another awesome talks, guys, keep it up. I love Scott Galloway, he is so pragmatic and real.
hes a typical boomer....hes full of himself. dont be fooled.
Greatness & wealth is in the agency of others
I’m your average Joe, who actually struggled to make it through high school and I retired when I was 55, here’s how I did it.
Find a trade that you’re good at.
Became a manager, so you make twice as much as the people working under you.
You’re going to work your ass off.
Buy everything for cash.
Put the max in your 401K, so you’re not paying any taxes on that money.
Pay as much as you can on your house payment.
Drive a basic car, when I was working I had a Honda Civic and rode my bicycle to work.
Draw the money from your 401K so you pay no or as little possible in taxes.
I’m 65 now, live in CA and my life is awesome 😎 🖖
I hate that on impactful financial videos like this, the comment sections are just filled with bot comments. RUclips has an obligation to be more dilligent removing bot accounts. Scott Galloway is a great financial source to listen to, people shouldn't be allowed to solicit scams in the comments
I understand that income vs. spend is a useful stat, but the quality of life of his friend making $3M-$14M isn't even in the same universe as most. Regardless of stress about not saving money I can't imagine that any aspect of his life falls short. Plus if he decides to start saving at 55...60...65...he'll still be better off than 99% while having spent an ungodly amount of money in his life. Love Scott, but don't understand this comparison.
For sure, but hedonistic adaptation is also real AF so for him it doesn’t necessarily mean a lot.
@@user-ee1fn4vt8b Since it's Scott defining rich as that, there's nothing wrong with it. And if it's solely a "he feels stressed about the spending habits so he's not really rich no matter how much he makes", you're completely right.
However, high income just correlates to so many amazing things (e.g. life expectancy, success of children, happiness, etc.), I just feel like it's insincere to say this dude is going to be more "stressed" about debt while sipping on vintage whiskey in the Hamptons than someone who is making more than they spend. Just my two cents.
@@AlexMcDanielsAbsolutely fair. But he can also afford to go on a full spiritual journey to fix that mindset and probably not end up on the street. I'd imagine it's probably a lot more difficult to pull someone out of poverty or into a higher income bracket, but who knows, fixing one's mental state is a journey too.
Wow dudes in this comment thread don’t get it. Yes, Scott’s principle applies regardless of income bracket. If you spend more than you make you are mathematically broke and should be stressed about money. We get it. What the OG commentator is saying is within that principle income brackets are not analogous.
Focusing on the balanced book between someone making $75k and 3.5 million misses the difference in lived experience, spending power, quality of life, opportunity, access, leverage, medical care, move-ability, and much much more. Hell, the millionaire also has many outlets through buying power to pay someone else to solve their problems via lawyers, accountants, financial advisors etc while the person making $75k has to solve all those problems themselves and within their family.
Don’t don’t get lost in the principle folks. You can learn the lesson without missing the forest from the trees, especially since most of you are probably NOT millionaires.
Same here.
I like this dude, but as soon as someone
Says “passive income” the advice is a joke.
He is really right about just investing college tuition, put it in a trust where they can't have it for 20 or 30 years and maybe help them with rent for a few years while they find a job or go to community college
Get a job that makes way more money than you need to live (100k+) invest as much as you possibly can in an S&P 500 mutual fund.. and then just wait. There's no realistic 'get rich quick' scheme.. but this is the way to realistically build wealth over time.
Ya one minute now and I'll just go to the nearest job center and pick myself up a 100k per year job
Invest in Tesla & Bitcoin.
So out of touch,u dont just get a 100k job like that buddy come back to earth
@@africaninvestor7032no shit sherlock learn the skills
@adi-xk1sv Goodluck buddy.
This is one of the best pieces of advice I heard in a long time better than any finance book on life and investing!
He spouts da truth fo sure
If rich people own businesses that depend on other people to make them rich and they don’t handsomely pay their staff and workers that keeps them rich they can not also be “good and high moral’d high character” people. Taking care of the people who make you rich is either written into the business model or not and if share holder annual increases is the bottom line that cannot by definition be a good thing. You seem like you got rich a different way, I don’t think a lot of millionaires do it the way you did but it seems to me a lot of billionaires absolutely need to step on peoples faces on the way up. You are one of my favorite people to listen to on the internet and you’re very honest but you seem to not be 100% honest when speaking on rich peoples characters.
Absolute gold right here from Scott 2:20
There’s always one off’s here and there but when I look around at the people in their 20’s and 30’s that are killing it, it’s not simply because of “hard work”. Not that those individuals aren’t grinding but they all have one big catalyst included in their story that is propelling them. Whether that be a good chunk of money handed down to them or their parents opening a door in whatever industry they’re in to fast track their careers. I haven’t done everything perfect in my 26 years of life but I’ve worked my ass off and have created a name for myself in my given industry, but when you pay 2,000$ a month on rent and another $500 vehicle payment on top of groceries and everything else just to live your life it’s hard to get going. I’ve always said that it’s really easy in life to make money once you have money but it’s tough to have money in the first place. Especially when you don’t come from money.
Rich people telling us how to make money. Priceless. Most people don't deserve to have wealth.
There is obviously a compounding effect in the very long term for large capital, but is not "automatic", and with the wrong strategies you can even lose more than you have. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies. Any advice on this matter would be greatly appreciated
There are experts with strategies that generate income 10x than the average or normal investor who is trying to build a portfolio. You just have to dig deeper and find such experts
I stopped listening and taking financial advise from these RUclipsrs, because at the end of the day, I end up with a bunch of confusing stocks without knowing when to take profit, 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.
@@mariaguerrero08This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation
@@mariaguerrero08who is your advisor please, if you don't mind me asking?
Her name is ' Izella Annette Anderson ' Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
This is brilliant
Bitcoin is gearing up for a monumental leap to new all- time highs.🚨
this is definitely superb! think you could suggest any professional/advisors i can get on the phone with??
Meet grahamconsults
i'm in my fifth trade with him and it has been super.
On telegra..?
Yes! Gained massively from him
Getting rich is easy. Just buy call options on SPY as long the government keeps deficit spending
Of course, because SPY always goes up and nothing ever happens to the economy ever, stock must go up.
Yes, since S&P500's inception it has only ever gone up when you look at it in terms of years historically. When you look at it on a day to day basis, there's times where it goes down, goes up, stays where it is, etc.
So, it depends on how you do it, it's risky and usually more complicated than you think it is, I personally would probably just buy a fund which mimics S&P 500 and invest a % into it each month but I'm not a financial advisor so that's only my opinion.
@@shroomer3867 as long as the government keeps up this insane deficit spending, the economy will keep booming and SPY will keep going up.
yeah but options you can lose money even if the direction is correct. You need sharp moves in either direction to make money on options. Otherwise you can be right and still lose, options I don’t recommend. They’re instruments for investors who own shares, they’re not designed to be speculated on.
I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market I'm grateful to Mrs Liam🙏
I am from Miami United State🇺🇸, The difference Mrs Lucy Mary Liam makes in my life is second to none it's definitely a life changing kindness. I really appreciate her effort in my life.
I invested $2,000 and the trade in one month making close to $20,000. I wonder where she got her analysis.
Seeing my broker talked on RUclips, This was exactly how I got the recommendation about her for the past years. Hit $200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with $20k in July 2024
I'm from Brazil 🇧🇷 I and two other of my friends tried her immediately we testified her performing wonders.
Her good strategies of making large amount weekly profits for her clients are totally outstanding. Investing my $1500 with doubt and withdrawing $12,300 with happiness. I ❤️ you Lucy.
Great advice for any human being. Take it in.
Fantastic material and incredibly distilled knowledge.
I’ll have to return to this to stay sharp on the material.
Liberating…makes perfect sense, I couldn’t agree more!
Great video coverage market trends hint at lower prices, but this could also open doors for smart investments. Despite a possible short-term slump, remember the market's long-term potential. Downturns can be entry points for portfolio expansion. Success lies in informed decisions and strategic planning. Thanks to Shea Ardolf’s insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings. Kudos to the journey ahead!
Shea Ardolf program is widely available online..
The process of trading can be complicated when you have limited knowledge. However, with the right strategy and setups, you can be successful. That's the whole point of investing.
Bitcoin's role as a store of value and its potential for future growth make it an attractive investment option. BTC trading can be a thrilling way to participate in this digital asset's journey.
Crypto has opened doors for global financial inclusion. It's time for a more equitable world!
Profits can be made anytime in the market wether bearish or bullish, with the right signal and strategy it’s all good.
I realized that the secret to making a million is making better investment. I bought my 1st home at 21 for 87k sold for 197k, 2nd home 170k and sold for 320k, 3rd 300k and sold for 589k and buyers paid all closing costs expenses etc Not making up to a million before retirement is unfulfilled retirement.!!
Guess I should have bought a home before I was born 😂
I like this guy mostly excellent discussion, but I take exception to that last point. “A majority of wealthy people are really good people.“ From where I sit, most of them vote for tax cuts and vote to enrich themselves at the expense of the rest of society. Unfortunately that’s shortsighted for everyone, including themselves. He might be a good guy, many others might be good, but majority of the wealthy are more concerned about hanging onto their own wealth than anything else.
Yes because they earned it. The people who are taking it or coveting it are not
If your main hustle is working a dead end job put more time and focus into your side hustle. Great talk fellas!
"One thing you should do is like: your coworkers kid is having a wedding I really should go". Imagine thinking a wedding would be impacted by your absence when you don't even know the person being married. A coworkers kid? I doubt they give one fuck if you are there. If you were friends you wouldn't refer to them as a coworker
This was a great episode!! Thank you!!
Thanks for the great information. Everyone needs to step up and be active in wealth building.
Wise words indeed , unfortunately I went all in on vegan stocks and lost my life savings . Starting again with diversification. Good video .
The only discrepancy in Scott’s thinking: diversification is key, but side-hustles are a waste of time when you could invest that effort into your sole main career.
The difference between each claim is that he is referring to two separate phases of life. The first is making money, the second is keeping the money you made. His claim is that you need to be laser focused on one high value thing that you're really good at. Then diversify that wealth once you've made it, because it's not likely that your skill will remain valuable for your entire lifetime.
Except you'll never know what will take off. I spoke to a guy who did about 5 different things, some just purely out of interest (not a lot of money).
Four years later and his top earning activities were completely different from what he started with, and he'd never expected the hobby side-hustle to grow the way it did to become his main earner.
Now following the "focus on one big one" method would have seen him at risk when his main earning activity dropped off after a few years.
He could have changed lanes when he saw the changing market, but we all know that early players in any game make the lions share when times get good, and late-comers will be lucky to make bank.
Keep up the good work Chris, really enjoy and appreciate the content!
This seems like good advice.
Great clip, ive been emphasising the benefits of time to my 16 year old and putting money away young. Ive sent him this clip.
Saving money in a bank is for fools because inflation FAR outpaces the interest rate. It must be invested aggressively. For example, putting $15K on Trump to win presidency will win you $10K. THAT'S investing.
"But slowly" but that's fine. He's right. I've got time. I've never thought people got wealthy quickly. Majority of wealthy people are older for a reason.
🤯🤯….. Heart rate up the entire video ! 🙌
All good stuff, but I believe wealth definition should be passive income (PI) > (burn rate (BR) plus savings rate (SR) ) - put yourself in position for opportunities AND/OR desire for greater future burn rate
Passive income that's greater than your burn. Man, that's good. It's simple, but it's NOT and getting there isn't easy.
Is Akoustis Technologies (AKTS) the worst stock pick ever or the most genius investment of all time ?
That bit about his dad rolling in a bed of quarters is hilarious haha
Outstanding wisdom
So buy the s&p
Thanks … this perspective changed my mindset 😊
This scott guy is everywhere now! Still don't know what makes him stand out tho
Nothing. In clip form his remarks seem ok. But in a long form like this you see him for what he is. Not terribly impressive.
@@kylebroflovsky6015 It's the other way around. In clip form, he sounds like I've been talking for 10 years. I'm rich too, I've done and say all the same things. There is nothing particularly original in Scott's patter. But in the big picture, I'm not rich like he is and I have not had his range of experiences and bigger ups and bigger downs. So, if you listen to him in long form his story arc is actually quite exceptional.
So true. Back in 2019 I started a job in Abu Dhabi. I made $108,000 base annual but spent only $2500.
Every year I saved up enough money for the next 4 years.
Do you have any tips on how to save? I’m 25 and want to start building wealth for my future, but I’m not too sure how to do it
You need to work on increasing your income.
More you earn, more you save.
I took me 8 years to reach six-figure salary.
@@LearnValkey thank you!
Good advice. But the narcissism is a big turn off.
Excellent wise advice
Im 24 years old, making 60-70k a year with no wife or kids. Thinking of investing 75-80% of my income monthly in to index funds such as S&P 500 VOO. I have a car that's paid off, and i live in a house with my family, and dont pay rent. My only expenses are coffee, gas, and car insurance, and phone bill. I am building a second unit in my house in the basement that will rent out for 2000 monthly. Am i on a good track ?
Absolutely excellent advice.
Very simple, young people need to work...thats all
this had a ton of great information, thank you
I removed that "Should Bucket" long time ago even though I'm not financialy independet.
If you care what other people think, the Should entity have power over you. But if you don't give Fs, Should is toothless.
At 9:00 how does he get 5.3 million with 17 years invested (18-35 years old) and 8% interest? His assumptions aren’t mathing
concentration makes you rich, diversification keeps you rich
I entered the workforce making $25K a year and retired 35 years later making $128K per year. Saved 20% of my salary every year. Despite a divorce 10 years ago, and making almost every investment mistake known, my networth is $2.5 million. My burn rate is much lower than my passive income from my portfolio.
The income vs spend is exactly how I’ve articulated it for years. The average profit per equity partner in my firm is GBP 2.8 million and you’d be surprised how close some of these guys are to everything falling apart. If they stopped working at this level, lives would collapse.
Focus and don’t do side hustles, but diversify. A bit conflicting no?
Somewhat agree but i think he means diversify in your passive income. Not your “time = money” income