Hello you savages. Get access to every episode 10 hours before RUclips by subscribing for free on Spotify - spoti.fi/2LSimPn or Apple Podcasts - apple.co/2MNqIgw Here's the timestamps: 00:00 Stop Following Your Passion 04:32 Do What You’re Great At 13:59 How to Achieve Financial Security 28:00 Skills for Becoming Better at Networking 37:06 Link Between Fitness & Financial Health 43:12 Forgiving Yourself When You Fall Short 52:32 What Is & Isn’t Worth Spending Money On 59:28 A Different Way to View Taxes 1:06:23 Where to Find Scott
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Inflation has not always been around there was a 15 year period of deflation. Yes as prices went down income went up. Once you go to Fiat currencies with no tangible backing then inflation is an intentional factor. Patience, Cash on hand & Short Term Investments are key
True. I first came across investing in the market in 2019. Already stashed about $480k in savings then, and the free money from the Government was pouring in, increasing inflation rate. I just got an advisor and kept the money there, just because I didn't want to keep the value of the money depreciating in the bank. Tbh, it's the best investment decision I've made since then.
I think this is something I should do, but I've been stalling for a long time now. Mind if I ask you to recommend this particular coach you using their service?
“Rebecca Nassar Dunne” has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
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 real estate to achieve this goal?
Varied sources of income is wise and especially living within your means. My net worth is $2M and I can pay my bills with no stress, but I don't live like I have that. I have no complaints.
Money advice is subjective, what works for you may not work for someone else, but it's always better to plan. I'm quite lucky exposed to personal finance at an early age, started job 19, bought first home 28, got laid-off work 36 amid covid-outbreak, and at once I consulted an advisor to handle growing my finance. As of today, I'm only 25% short of my $1m goal after subsequent investments.
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
"Melissa Terri Swayne" serves as my advisor, bringing extensive qualifications and experience in the financial market. Her deep understanding of portfolio diversity positions her as an industry expert. I suggest delving into her credentials for further insight. With her considerable experience, she offers valuable guidance to anyone seeking to navigate the complexities of the financial market
I appreciate this. After curiously searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.
These uncertainties will always be there. Thing is, every once in a while, the market does something so stupid it takes your breath away. If youre not ready for it, you shouldnt be in the market business. or get you a skilled practitioner.
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors' and hear-says, it got the best of me in the year 2022 and had me holding worthless positions in the market. I had to revamp my entire portfolio through the aid of my financial advisr, before I started seeing any significant results happens in my portfolio. Been using the same advisor since then and I’ve scaled up almost a million within 2 years. Whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
Vivian Jean Wilhelm is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich.
I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts with experience since the 08' crash
The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
It's the sociopathy that turns me off. He touched on it when he talked about deleting the "Should Bucket" from your life. "Best friend's son is getting married and you're invited? I'm too rich to care about consequences so I'm not going." He's the kind of guy who--if he were a surgeon and some kid he was operating on died--would just shrug his shoulders and say, "So?" I get that it's all part of the ethic of getting into the $100 million club, but to me it's no way to live.
@@joshfagan7947it’s probably a feature of him not being able to afford the healthcare of his mom when he was young. Now he’s purely driven by money at all costs. Makes sense considering the story with his mom.
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
Scott was a person I started liatening to a couple of weeks ago. While he makes some decent points about finding talent over passion, it gets old when you hear him literally recite the same speech for every YT interview.
Yes, people are interviewing him on his views, they are not going to change every day. Ever seen a couple of an actor being interviewed about their new film? Same answers every time as the movie doesn't change.
@@colemanandersonChoose the right industry and become a top ten percent performer in that industry. Be disciplined and consistently save and invest in a diversified portfolio. That’s basically it.
Tends to be the case when you’re getting asked the same question over and over. Reciting the same speech over and over has got him into a 9 figure net worth bracket anyhow, maybe you should start doing it
I didn’t give this podcast a chance. Ignored it when it came out. It happened to play via auto play. Impressed with the intelligence of this person. Great speaker!
You are the first educated person I have listened to that has compared private school to invested money instead. I say this all the time and don’t understand why more parents don’t view it this way. Love this episode, just found your channel. Great perspective and mindset.
@namaste758 don't be ridiculous. He has to pay for an elite service, and he can do the exact same thing with a limo/ town car high level service for an automobile
What's the problem with that? One knows his life better than anyone else's. We should all talk about our own lives so people can choose what to learn from it.
It's hard for a Narcissist not to talk about themselves, they are (to them) the most important person in the room. While he has some solid info, he could talk less about himself & how his information can help others. He fails to grasp that not everyone wants to have a 5 Star experience in life.
I think he is humble about it though. Its hard to give financial advice to struggling younger people without first acknowledging your own success (and failures)
He is also very honest about how unremarkable he was in his formative years. Maybe the "I'm rich and my life is great" doesn't make him relatable. "I'm rich and I wasn't anything special when I started" is very relatable.
The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?
Just get a financial planner straight up! personally, I would invest in etf and also love investing in individual stocks. yes it’s riskier but I'm comfortable in my financial environment.
I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
@ChrisWillx First time I have every been to your page... And I just find Scott Galloway so amazing. BUT! YOU SIR, are one of the best hosts/interviewers I have every come across. Not interrupting guest with your own stories... Not saying "uh huh, uh Huh, ok, that's right, I agree....." Shut up and let the guest speak! YOU get it! I just cannot stand any longer the interviewers (so many) who try and impress their guests with their stories and just hope for affirmation. You are an amazing interviewer. Thank you. New fan.
This is the most Gen-X guy of all time. Materialism, sarcasm, cynicism, atheism, depression, angry at his parents, loves Bill Maher. He's got the whole package.
Man, that thing about normalizing affection in the household is so true. My parents didnt do it because their parents didnt do it them, now it is super awkward to have an intimate familial connection with them. If you ever have kids please have them learn that being loving and caring in the household is normal and shouldnt be something you should be ashamed of.
Yeah, I’ve seen a lot from this guy before he magically blew up from some state media segment where he said some stuff that’s obvious and well known by most men. So saying something “duh” made him popular but he’s got major TDS and is a major part of the problem he’s describing.
He would get wrecked in a proper debate. This is the sort of boomer who lived a such a privileged life and is completely disconnected from the ordinary person.
yeah first red flag was Sam Harris think there is something about leftism and atheism not that I am trying to say any religion is better than others but it leaves you open to government taking the place of god. The danger is the deification of government. Doesn't discredit his advice it just colors it. I would say there is a competitive advantage of being "athiest" when it comes to moral qualms but it does leave you open to feeding your narcissisms by embracing B$ morality. Nietzsche was right to philosophize about the death of god because it requires engagement with what morality you choose and think critically about it.
The problem is for me, is Scott seems like a similar guy in personality to me. However, a quick read of his early life section on wikipedia demonstrates he comes from a universe of opportunity that doesn't exist anymore
29:00 That part about rejection is quite enlightening. Instead of doing rejection therapy by being a promoter or cold calling, I went out today and tried to approach and couldn't. Approaching women is a fantastic way to get over your approach anxiety and be every comfortable taking rejection, especially sober.
@chris williamson I want to clarify something scott is talking about around 1:04:12 in the video, concerning investment banking income. I normally don't hear Scott say anything that I instantly disagree with, or know to be wrong. He is quite an intelligent orator and a careful with his rheotoric. However, he is not correct, when he talks about his friend making $10 million USD as an investment banker, in saying he is paying 52% in income tax. Furthermore, that investment banker, if being paid in excess of $10 million USD, will not be paid in cash or "base salary". There are two options here, an investment banker making $10 million USD either works for himself or works at a large bank (we call these banks the "big 5"). This friend of scotts will only be paid 250-600k in "base salary", the rest will be bonuses- compensation that is NEVER paid out in cash. To elucidate further, the compensation model is purposefully paid in common stock, or similar methods, to AVOID paying taxes like scott is mentioning. Other than that, I love hearing scott talk. He is a terrific and positive voice in the online space at this moment.
No one calls the largest banks the big 5. They’re called bulge bracket banks. And only part of bonuses are kept as rsus, generally most of them are given out as cash. Generally most is cash. Your claim is really weird.
I'm so confused. He advocates an "extremely progressive" tax system, but then also says "every citizen has an obligation to pay as little taxes as possible"? I honestly cannot follow the logic of people like this. I've listened to him before, seen his talks, and he has some great insight but I just think the lessons he's "learned" or his own life experiences just do not translate well to reality (due to his luck or whatever).
But those 2 things aren't logically opposed? Within a progressive tax system, anyone from any bracket can attempt to pay the LEAST they are legally able to. Everyone should be aware of the legal deductions/expenses they are entitled to claim. Progressive taxation is the best for the entire society, and attempting to pay as little as you're legally allowed is best for each individual taxpayer. The 2 actions do not oppose each other.
He said himself that he's a narcissist, and narcissism is deeply rooted in irrationally. Which leads to envy and resentment, and wanting to take other people down. So his MO distills to, "how to be better off than everyone else" while feigning compassion for the disenfranchised.
Most of his points are either glaringly obvious or complete nonsense. You cannot simultaneously be pro high taxes and think everyone should pay as little as possible. The only way he can justify that to himself is to blame everyone else for not memorizing the tax code or not being able to afford a competent CPA.
So it took this clown an hour of telling us how disciplined he is about working out, how much money he has, how good of a dad he is, how kind him and his rich friends are, how good he is at dealing with rejection, what a good athlete he was in highschool, how he gets special treatment at Disney, all the important senators and business people he knows, how hot and accomplished his wife is.... Just to tell us not to work as an actor, and invest in an index fund when we turn 18.. 🙄
It's a model of how to make money. His financial advice is very high quality. Prof g markets is also one of the funniest podcasts out there, if your humor is as dry as it gets like mine. But it's important to surround yourself with rich thinking not poor thinking. I didn't have it all figured out but this kind of stuff got me into a house with 11 rooms and enough money to absorb just about any problem that can come my way at age 34. The key is to listen and accept while improving, not refute and ignore while regressing. If you don't, the money printing business will devalue your money every single year by at least 2 percent, and likely closer to 5 or 10 in times of 'crisis' especially with the high debt. But see if your position right It doesn't matter. I love when they print money. All it does is bring down the cost of my mortgage. Print, print, print. All of my real money is in equities. But this requires creativity, 50-hour weeks sometimes or 60 when all your buddies want to go out. Mastering my craft when everyone else wants to watch TV etc.
Not sure why there’s so much hate in the comments about this guy. As a 47 year old i agree with much of what he says. My father built a business from the ground up. Nothing glamorous but he provided a good life for me and all of my siblings. He told me I must do the same and provide for my family. I like what he said about choosing career path. Forget about his political views
Just read The Algebra of Wealth and whilst alot of the ideas and topics where quite familiar to me, it was still a great read. Very well written, easy to understand and i think a great book for anyone looking to further pursue financial literacy. Thanks Scott.
As a Christian who's conversion was a gateway to an incredible sense of freedom and joy, I cannot for the life of me comprehend why people see atheism as the route to really living for the moment. It's more fun playing the game when you can't die.
So you adopted a personal belief which unlocked an incredible sense of freedom and joy... Yet, you can't understand how someone else can do that with a different belief? Reads like someone having trouble understanding why their favourite workout music doesn't get everyone equally as pumped...
@@kris3451 Well music is a matter of taste but I think it's fair to question why someone's worldview has led to a particular mindset which doesn't follow logically. Atheism seems more rationally to lead to nihilism.
I can see his logic. I came to believe in god solely because I feel we can never know for a fact whether god exists or not, but I find my life works better when I live with faith that there is a god. I however do NOT believe in heaven or hell. I believe that god empowers me to live the best life now, contributing the most to the good of others according to god's will and with god's support. He finds that it is the belief that there is no god and it's up to him how to incentivize himself to life the most fulfilling life, and for him he uses his narcissism to guide him. So not only does he do better not believing in god, his approach actually depends on it. He's the god of this worldview, and has decided to be a benevolent god. I'm not enough of a narcissist for that to work for me, but good for him. The world is better with him playing the game he's playing than the ones some supposed religious people are playing, meanwhile steady either harming others or simply failing to help when they could.
Ever think that maybe the goal should not be to "get rich in a broken economy?" Isn't that exactly why we keep ending up here? The economy will still be broken, our money will still not be backed by tangible wealth, and the few people who benefit will become our new masters. No, we need a meaningful overhaul, rather than to keep kicking this same can down the same road. Edit: While I understand this video speaks more about what is, rather than what it should be, the people who are able to hack the game and be comfortable living in a very broken society are also going to be very unlikely to want to change it.
its absurd that the only good advice is "be in the top 1% of something" oh yea? what if I'm NOT, what about the REST of us, why is it like this NOW when it wasn't 50 years ago when everyone could eke out a good life without being the best "whatever", and we who are just PRETTY GOOD at things are getting really really fucking pissed.
While I agree with both of you, I think the broader message could be: get to a position where you no longer have to worry about these things holding you back and allows you the freedom to aquire the skills and knowledge to make meaningful changes that would allow future generations to do the same thing but with new systems you helped put in place. Leaving the world a better place than you found it, even though you 'profited' from current systems. Easier said than done ofc but it comes down to the individual what they choose to do with their newfound freedom/wealth. If you look at things with this larger perspective and hold onto it, you can make changes you want to see. And while changes like this don't happen overnight, we have to start somewhere.
Our "broken economy," as you call it, is the best economy the world has ever seen so far. It has its issues, but we have raised the floor for the bottom to levels it's never been.
@@tswierczekno, China has raised the floor with their economic system. That’s why we have to put a 100% tariff on their ev. Let me buy the 10k ev at 10k, so that American car companies are forced to make cars at 10k. That’s why the system of broken, the rich will never care about a 10k car, most Americans would love the option to buy a new car at 10k. Best economic system? Only for the rich. Best seen so far? By what metric? We used to have a much better system with a smaller wealth gap in the USA, where homes were affordable. It’s laughable to call what we have today the “best economy so far”.
I'm an atheist and always have been. I have never found what Scott says it is "emboldening, liberating, and an unlocked joy" I actually can see it would be nice to believe in a great afterlife. 51:30 He literally said "I can't wait when I'm at the end, I want to make a lot of money so I basically you know die at home with people I love surrounding me and I am going to do a sht ton of heroin and I am just going to play those apple "AI photos" and live his life again. Scott, no need to wait, you could easily do this now.
Idk, I mean I get where he’s coming from. There is a lot to be found there in the acceptance that this is it. I like what he said “this isn’t a dress rehearsal”. Brings a lot of meaning to the present. Sam Harris said that same quote, which is I think where Scott got it from. It’s there if you are open to it.
@@brianmeen2158 most media People recite and regurgitate the same things all over again ,this one at least doesn't sell you his course every minute or the specific drug/minerals that you're lacking and surely it's the only thing you're lacking. Opposite group of viewpoint is more common, successful success -just believe,follow your passion,law of attraction - that's more toxic, usually those people don't have any real experience outside of selling their courses and books.
@@Cruiser203 what are you looking for? Since the youtube algo led you here, chances are, you are looking for fast success with an inside scoop. Now you're mad Scott is telling you, you need to work hard, accept streaks of rejection and failure as part of your journey to success. Of course that has been said a thousand times before. So what. There is very little that hasnt been realized by some smart guy 2000 years ago. But he's dead so someone else is saying it.
@ZukoTheShinigami "don't point out why my internet daddy says. Just copy what Andrew says but in a different light." We get it. I can hear how sticky your keyboard is 🤢.
@@ZukoTheShinigami law of averages, only a select small few can, even if I do, the vast majority don't, and now the price for not becoming a select few, is abject poverty, the gulf between extreme excellence and excellence is now insane, economically.
It's unbelievable how so many very intelligent people like this gentleman live in a bubble and are so fooled by the most obvious things. This poor man has figured everything out except what truly matters, this is what explains his incoherence.
So, what truly matters that he's missing in his message? Just trying to understand your statement here. Scott brings up good points but I do think a few things are missing in his equation to life.
@@enigma5627 that would be living for something greater than yourself... Our time in this life is incredibly brief, everyday is an opportunity and a blessing, his perspective is so cold, so empty...
@@petermangano6206 His perspective is realistic. Perhaps not idealistic, but realistic. The man fought to get what he wanted and succeeded. Created businesses, workflows, and ways in which he could live a life greater than most. He pointed out a very obvious fact in the world -- that the experience is extremely different from those who have money and those who do not-- even when going for the same services. Get money as soon as possible, because time is not a friend and the allotted time in which you can get the funds to make others happy is limited by that person's amount of life left. By the time you can get the funds to make others happy, have exciting experiences (which now cost money) , whether it is getting them out of debt, helping kids with college etc etc is very short and limited as you mention.
@@petermangano6206 you're still dodging what exactly you are referring to. Truly matters, greater than yourself...What are you talking about? Believing in a higher power? That doesnt work for everyone, a lot of people cant have faith in something that is most likely completely made up by man some thousand years ago. Anyhow, I think you missed that point of his, because he only mentions it but doesnt dwell on it: He enjoys being able to create financial security for his children and his father on a level that you cant if you made average money your whole life. And providing for your loved ones and spending your money to create memorable moments with friends, can be something that's greater then yourself.
@@maxmeier532 I never made a lot of money and yet I retired from the rat race at 35... Free your mind, none of us are trapped in a false box of two choices...
If you knew your way around in stocks inveestment, you'd understand that broken/bad economies come along with them, equivalent market opportunities. I've seen folks amass wealth in the midst of economic turmoil and even pull it off easily in favorable conditions. Invariably, the collapse is getting somebody somewhere rich
Choose quality stocks and follow them up. If you're not one for such complexities, work with an Adviser to grow your portfolio. You can't go wrong with a sound CFA.
After hearing about his parents and upbringing, I completely understand why his demeanor is so serious and stoic. But I love Dr. G; so grateful for his insight
He made a salient point about how when he was a kid his father's boss had a slightly larger home in the same neighborhood, and how now if you are wealthy you have a different zip code and doctors. This is an example of our shrunk and shrinking middle class. A healthy vital democracy has a stable middle class, and we as citizens should strive for that balance.
If he travels far a LOT for work, the plane makes sense. The car may not be necessary because he lives in London, one of the most walkable cities in the world.
Such an incredibly honest conversation! Thank you both for this. If such successful people feel all this, are so harsh on them, then its all right for us, simple people, to be this way, too. Thank you, really.
49:18 - always cracks me up when people call earth an "unremarkable planet" like they've seen so many planets earth is just boring now. Almost as crazy as saying you canvassed for Harris
Scott is profoundly obsessed with envy, and having VIP experiences. He has now repositioned himself as talking nonsense to millennials to offer them hope, while is really selling doom and gloom.
I have seen interviews with him and he is not giving anyone any hope, quite the contrary. Another recent interview ith Simon Sinek he basically listed all the reasons why young people effed by society, short summary: Living is x more expensive, education is x more expensive, all adjusted for inflation, so in other words, youth today gets paid less and can afford even less with it. When he says things like dont follow your dream, do what you're good at, strive for financial independence, he is just stating what most parents would say and adds an atta boy. You dont have to agree with him.
When I was a teenager I knocked thousands of doors and faced tons of rejection. But I had men in my community that I knew supported me and had my back. There have been other times in my life when I was totally unable to face rejection, those were also times when I didn't have that same dynamic of friendship. The key to life is making friends.
Currently 26 listening to you just hit the follow button this was a great video . A little bit behind the ball but as a trucker I been trying to save money and turn to efts & stocks I understand I won’t have money now but in the next 30 years when am 50 I’ll have millions which I’ll hand of to my kids to change their life’s . Learning the long game around my friends that have already bought homes is really heard even do I want too I have said no too my wife .
"The power of compound interest" 20 min later "above a certain point, wealth has diminishing returns" This is probably the most difficult balance to strike in life
what? one statement is purely financial, the other is about the fact that the more you have the less even more will have an effect on your life. You think Jeff Bezos has a vastly different life whether he has 5 billion or 50 billion dollars?
I appreciate Scott as a person of societal success who practices understanding for the economic difficulties most people are facing. Beats the whole “pick yourself up by the bootstraps” nonsense of the Boomers.
@Cptn.Smoker Compassion is important to many people. It goes beyond the metrics of economics. Also, people with money are compassionate. Being poor and having compassion aren’t causal.
@@topdev_tech9156 The issue is that it isn't possible to do so. It's a terrible way to make sense of the modern world. Something more pragmatic such as, "Don't find your passion, find your talent" is much more ideal. I'm in school decorating myself with trade certificates, by the way, don't you worry *bro*
@@topdev_tech9156 I'm aware of what you're conveying, however, it is literally impossible for one to lift themselves up from their bootstraps. Plato mentioned in 'The Republic' the problem with teaching children lies. We need the narrative to be something much more pragmatic. Scott did well with, "Don't find your passion, find your talent" This, for example, is a much better way to position any given individual for success in a free market society versus the condescending undertones of "lift yourself up by your bootstraps" which requires zero consideration of your fellow citizen and zero understanding. Last I checked, one purpose of the Constitution is to *form a more perfect union* We don't move towards that with non-sense ways of making sense of our environment like 'pick yourself up by your bootstraps." Respectfully.
@LotusHart01 lets keep it simple, compassion is important in the interpersonal human experience, but it is not going to give you success in a competitive capitalist world.
Imagine understanding the current economy so well and empathizing with Millennials and Gen Z about their financial plight and then talking about canvassing for Joe Biden as if 4 more years of the current administration is the answer 😂
I would not vote for Biden, I simply would not vote for anyone of that age and mental deterioration but factually the last republican president to lead an economic uptick (reduced unemployment increased job growth) is Raegan in his second term (technically both terms but it was really 5.5 year span). but oddly enough every single Democratic president has done that since after Carter. Historically America does its best by a wide Margin having a Democrat in office with a Republican Congress over the last 50 years. there are beliefs surrounding this that you have a wide eyed, compassionate and hopeful leader (the democrat) who is tempered and restrained by a much older, wiser and stern republican congress. Even by age statistically the best age for someone to enter office is 47 which even this should not be that odd if you consider wisdom experience, cynicism, optimism and energy also makes your 40s the best age to start a business (rather the highest likelihood of success)
The Overton windows has shifted so much that the 3 viable candidates are all democrats. There is no actual conservative party it's just a skin puppet wearing the name. Although I'm pretty sure Trump was doing well economically unit the rona
everything he says is completely obvious but he takes an eternity to say it and his success is because he was a boomer who came of age during a time and place when there were fewer barriers than at any time in human history
He makes people feel terrible about the decisions they’ve made and people hate a winner who talks about it. He is 100% spot on about wealth. I don’t agree with him on some of his other opinions but he’s a solid guy.
I discovered him through reading his book Adrift, which I liked because there and in his Ted talk he talks about all the real problems with the US. And at least he’s better than Jordan Peterson? 😅 (super low bar, I know)
Hello you savages. Get access to every episode 10 hours before RUclips by subscribing for free on Spotify - spoti.fi/2LSimPn or Apple Podcasts - apple.co/2MNqIgw Here's the timestamps:
00:00 Stop Following Your Passion
04:32 Do What You’re Great At
13:59 How to Achieve Financial Security
28:00 Skills for Becoming Better at Networking
37:06 Link Between Fitness & Financial Health
43:12 Forgiving Yourself When You Fall Short
52:32 What Is & Isn’t Worth Spending Money On
59:28 A Different Way to View Taxes
1:06:23 Where to Find Scott
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Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Inflation has not always been around there was a 15 year period of deflation. Yes as prices went down income went up. Once you go to Fiat currencies with no tangible backing then inflation is an intentional factor. Patience, Cash on hand & Short Term Investments are key
True. I first came across investing in the market in 2019. Already stashed about $480k in savings then, and the free money from the Government was pouring in, increasing inflation rate. I just got an advisor and kept the money there, just because I didn't want to keep the value of the money depreciating in the bank. Tbh, it's the best investment decision I've made since then.
I think this is something I should do, but I've been stalling for a long time now. Mind if I ask you to recommend this particular coach you using their service?
“Rebecca Nassar Dunne” has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Found her webpage, I wrote her an email and scheduled a call. Hopefully she responds. Thank you.
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 real estate to achieve this goal?
Varied sources of income is wise and especially living within your means. My net worth is $2M and I can pay my bills with no stress, but I don't live like I have that. I have no complaints.
Money advice is subjective, what works for you may not work for someone else, but it's always better to plan. I'm quite lucky exposed to personal finance at an early age, started job 19, bought first home 28, got laid-off work 36 amid covid-outbreak, and at once I consulted an advisor to handle growing my finance. As of today, I'm only 25% short of my $1m goal after subsequent investments.
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
"Melissa Terri Swayne" serves as my advisor, bringing extensive qualifications and experience in the financial market. Her deep understanding of portfolio diversity positions her as an industry expert. I suggest delving into her credentials for further insight. With her considerable experience, she offers valuable guidance to anyone seeking to navigate the complexities of the financial market
I appreciate this. After curiously searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.
These uncertainties will always be there. Thing is, every once in a while, the market does something so stupid it takes your breath away. If youre not ready for it, you shouldnt be in the market business. or get you a skilled practitioner.
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors' and hear-says, it got the best of me in the year 2022 and had me holding worthless positions in the market. I had to revamp my entire portfolio through the aid of my financial advisr, before I started seeing any significant results happens in my portfolio. Been using the same advisor since then and I’ve scaled up almost a million within 2 years. Whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help
Vivian Jean Wilhelm is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
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.
Her name is. 'NICOLE ANASTASIA PLUMLEE’. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Scott Galloway is a paradox. I love this guy, but admittedly, there is so much to hate about him. Keep doing your thing Prof G.
Right? I relate to him and agree with him on so many of these points, but I find him extremely unlikable.
He gives such great advice and has a great understanding of the world for someone that support silly politicians
It's the sociopathy that turns me off. He touched on it when he talked about deleting the "Should Bucket" from your life. "Best friend's son is getting married and you're invited? I'm too rich to care about consequences so I'm not going." He's the kind of guy who--if he were a surgeon and some kid he was operating on died--would just shrug his shoulders and say, "So?" I get that it's all part of the ethic of getting into the $100 million club, but to me it's no way to live.
@@joshfagan7947it’s probably a feature of him not being able to afford the healthcare of his mom when he was young. Now he’s purely driven by money at all costs. Makes sense considering the story with his mom.
You two have encountered ‘jealousy’ lmao
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.
Scott was a person I started liatening to a couple of weeks ago. While he makes some decent points about finding talent over passion, it gets old when you hear him literally recite the same speech for every YT interview.
Yes, people are interviewing him on his views, they are not going to change every day. Ever seen a couple of an actor being interviewed about their new film? Same answers every time as the movie doesn't change.
Or he is an NPC 😂
What are the talents he says will make you rich? I'm trying to figure that out but so much in the video to sort through
@@colemanandersonChoose the right industry and become a top ten percent performer in that industry. Be disciplined and consistently save and invest in a diversified portfolio. That’s basically it.
Tends to be the case when you’re getting asked the same question over and over. Reciting the same speech over and over has got him into a 9 figure net worth bracket anyhow, maybe you should start doing it
I didn’t give this podcast a chance. Ignored it when it came out. It happened to play via auto play.
Impressed with the intelligence of this person. Great speaker!
You are the first educated person I have listened to that has compared private school to invested money instead. I say this all the time and don’t understand why more parents don’t view it this way. Love this episode, just found your channel. Great perspective and mindset.
Thanks!
*Scott* 52:48 “I don’t own a car,
…I just don’t want to own anything thing to manage”
*Scott* 53:41 “…I own a plane”
😂
How you know someone is spewing bullshit
That’s funny.
Leases a plane 😂
@namaste758 don't be ridiculous. He has to pay for an elite service, and he can do the exact same thing with a limo/ town car high level service for an automobile
To be fair, the context was a time management issue.
Scott Galloway the kind of guy to spend a full 1 hour podcast talking about how rich he is and how great his life is.
What's the problem with that? One knows his life better than anyone else's. We should all talk about our own lives so people can choose what to learn from it.
It's hard for a Narcissist not to talk about themselves, they are (to them) the most important person in the room. While he has some solid info, he could talk less about himself & how his information can help others. He fails to grasp that not everyone wants to have a 5 Star experience in life.
I think he is humble about it though. Its hard to give financial advice to struggling younger people without first acknowledging your own success (and failures)
He is also very honest about how unremarkable he was in his formative years. Maybe the "I'm rich and my life is great" doesn't make him relatable. "I'm rich and I wasn't anything special when I started" is very relatable.
This guy is the most honest person on the Internet. --And it’s not humble bragging if it’s true.
The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?
Just get a financial planner straight up! personally, I would invest in etf and also love investing in individual stocks. yes it’s riskier but I'm comfortable in my financial environment.
I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
Who is your advsor please? if you don't mind me asking
Thank you for the recommendation. I'll send her an email, and I hope I'm able to reach her.
Complaining about a 600k retirement portfolio shows a distinct lack of perspective
I love the dichotomy of commentary here. Y’all really help see different perspectives ❤
@ChrisWillx First time I have every been to your page... And I just find Scott Galloway so amazing. BUT! YOU SIR, are one of the best hosts/interviewers I have every come across. Not interrupting guest with your own stories... Not saying "uh huh, uh Huh, ok, that's right, I agree....." Shut up and let the guest speak! YOU get it! I just cannot stand any longer the interviewers (so many) who try and impress their guests with their stories and just hope for affirmation. You are an amazing interviewer. Thank you. New fan.
I love how genuine Scott is.
This is the most Gen-X guy of all time. Materialism, sarcasm, cynicism, atheism, depression, angry at his parents, loves Bill Maher. He's got the whole package.
To add liberal Capitalist who likes to talk about the less fortunate when it's convenient for cool points.
And can’t stop calling his wife his “partner”. He’s a good boy 🐶
@@Secretarynotsure89 lol I didnt even notice that
@@Secretarynotsure89LMAO
Add narcissism to it - boomer level narcissism
Been following Scott for about 11 years...since his L2 years.....he's quite a thinker and is very successful. He's a good listen for anyone.
I'm 10 minutes in, Scott is generally a good guest wherever he's in, even if he's unrelatable to most of us men in the bottom 99%.
love this conversation Scott seems like very down to earth and genuine guy and obviously has alot of value to offer
Man, that thing about normalizing affection in the household is so true. My parents didnt do it because their parents didnt do it them, now it is super awkward to have an intimate familial connection with them. If you ever have kids please have them learn that being loving and caring in the household is normal and shouldnt be something you should be ashamed of.
Amazing level of honesty in this one guys........
Going in you should know this guy:
1. Is reading Bill Maher who is his role model/hero
2. Listens to Sam Harris a lot
3. Canvassed for Biden
He is "souless", as many here commented
Yeah, I’ve seen a lot from this guy before he magically blew up from some state media segment where he said some stuff that’s obvious and well known by most men.
So saying something “duh” made him popular but he’s got major TDS and is a major part of the problem he’s describing.
@@danielplainview6527 Big covid guy, too..
He would get wrecked in a proper debate. This is the sort of boomer who lived a such a privileged life and is completely disconnected from the ordinary person.
yeah first red flag was Sam Harris think there is something about leftism and atheism not that I am trying to say any religion is better than others but it leaves you open to government taking the place of god. The danger is the deification of government. Doesn't discredit his advice it just colors it. I would say there is a competitive advantage of being "athiest" when it comes to moral qualms but it does leave you open to feeding your narcissisms by embracing B$ morality. Nietzsche was right to philosophize about the death of god because it requires engagement with what morality you choose and think critically about it.
One of the best interview ever!!! Great watch
The problem is for me, is Scott seems like a similar guy in personality to me. However, a quick read of his early life section on wikipedia demonstrates he comes from a universe of opportunity that doesn't exist anymore
29:00 That part about rejection is quite enlightening. Instead of doing rejection therapy by being a promoter or cold calling, I went out today and tried to approach and couldn't. Approaching women is a fantastic way to get over your approach anxiety and be every comfortable taking rejection, especially sober.
You had me until you said Bill M is a roll model for you. A lot of good points up to that
And teaching his kids to canvas for Biden. WTF? Even card carrying democrats aren't canvasing for old yeller at this point.
and what's your achievements to evaluate anything.
Yeah, I have nothing against Maher, but it’s just a very strange person to have as a role model.
Just in the first 15 minutes, what a powerful and incredible message!
I like Scott - don't agree with all of his ideas, but he is a positive contribution to society.
This guy speak real talk.. no BS coming from this guy. I listen to a lot of people just blowing smoke!! Very relatable
@chris williamson
I want to clarify something scott is talking about around 1:04:12 in the video, concerning investment banking income.
I normally don't hear Scott say anything that I instantly disagree with, or know to be wrong. He is quite an intelligent orator and a careful with his rheotoric. However, he is not correct, when he talks about his friend making $10 million USD as an investment banker, in saying he is paying 52% in income tax. Furthermore, that investment banker, if being paid in excess of $10 million USD, will not be paid in cash or "base salary".
There are two options here, an investment banker making $10 million USD either works for himself or works at a large bank (we call these banks the "big 5").
This friend of scotts will only be paid 250-600k in "base salary", the rest will be bonuses- compensation that is NEVER paid out in cash. To elucidate further, the compensation model is purposefully paid in common stock, or similar methods, to AVOID paying taxes like scott is mentioning.
Other than that, I love hearing scott talk. He is a terrific and positive voice in the online space at this moment.
No one calls the largest banks the big 5. They’re called bulge bracket banks. And only part of bonuses are kept as rsus, generally most of them are given out as cash. Generally most is cash. Your claim is really weird.
Gotta respect this man for telling the truth: *money does indeed buy happiness*
I'm so confused. He advocates an "extremely progressive" tax system, but then also says "every citizen has an obligation to pay as little taxes as possible"? I honestly cannot follow the logic of people like this.
I've listened to him before, seen his talks, and he has some great insight but I just think the lessons he's "learned" or his own life experiences just do not translate well to reality (due to his luck or whatever).
But those 2 things aren't logically opposed? Within a progressive tax system, anyone from any bracket can attempt to pay the LEAST they are legally able to. Everyone should be aware of the legal deductions/expenses they are entitled to claim. Progressive taxation is the best for the entire society, and attempting to pay as little as you're legally allowed is best for each individual taxpayer. The 2 actions do not oppose each other.
@@kris3451legally, the Fifth Amendment protects me from having to disclose my income to the government. therefore, i can pay 0 taxes.
He's saying don't be a chump, but yeah, the government should organize this a bit better.
He said himself that he's a narcissist, and narcissism is deeply rooted in irrationally. Which leads to envy and resentment, and wanting to take other people down. So his MO distills to, "how to be better off than everyone else" while feigning compassion for the disenfranchised.
Most of his points are either glaringly obvious or complete nonsense. You cannot simultaneously be pro high taxes and think everyone should pay as little as possible. The only way he can justify that to himself is to blame everyone else for not memorizing the tax code or not being able to afford a competent CPA.
What a great conversation gentlemen, I took a lot out of it and enjoyed it very much.
So it took this clown an hour of telling us how disciplined he is about working out, how much money he has, how good of a dad he is, how kind him and his rich friends are, how good he is at dealing with rejection, what a good athlete he was in highschool, how he gets special treatment at Disney, all the important senators and business people he knows, how hot and accomplished his wife is.... Just to tell us not to work as an actor, and invest in an index fund when we turn 18.. 🙄
Correct. This dude was a major L.
Classic boomer LOL
DB
Pretty much. Oh, and there's probably something about the correlation between going outside and a successful dating life somewhere packed in there.
It's a model of how to make money. His financial advice is very high quality. Prof g markets is also one of the funniest podcasts out there, if your humor is as dry as it gets like mine.
But it's important to surround yourself with rich thinking not poor thinking.
I didn't have it all figured out but this kind of stuff got me into a house with 11 rooms and enough money to absorb just about any problem that can come my way at age 34.
The key is to listen and accept while improving, not refute and ignore while regressing. If you don't, the money printing business will devalue your money every single year by at least 2 percent, and likely closer to 5 or 10 in times of 'crisis' especially with the high debt. But see if your position right It doesn't matter. I love when they print money. All it does is bring down the cost of my mortgage. Print, print, print. All of my real money is in equities.
But this requires creativity, 50-hour weeks sometimes or 60 when all your buddies want to go out. Mastering my craft when everyone else wants to watch TV etc.
I love Scott for keeping in real and telling it like it is
Not sure why there’s so much hate in the comments about this guy. As a 47 year old i agree with much of what he says. My father built a business from the ground up. Nothing glamorous but he provided a good life for me and all of my siblings. He told me I must do the same and provide for my family. I like what he said about choosing career path. Forget about his political views
Just read The Algebra of Wealth and whilst alot of the ideas and topics where quite familiar to me, it was still a great read. Very well written, easy to understand and i think a great book for anyone looking to further pursue financial literacy. Thanks Scott.
I don't think I have ever, ever met a man who didn't understand that money and economic vitality was the linchpin in mating up. I am poor and single!
Scott, you knocked this out of the park. SUPERB.
Best life advice ever. I’ve been asleep.
I love Scott for keeping in real and telling it like it is. No bullshit.
As a Christian who's conversion was a gateway to an incredible sense of freedom and joy, I cannot for the life of me comprehend why people see atheism as the route to really living for the moment. It's more fun playing the game when you can't die.
So you adopted a personal belief which unlocked an incredible sense of freedom and joy... Yet, you can't understand how someone else can do that with a different belief?
Reads like someone having trouble understanding why their favourite workout music doesn't get everyone equally as pumped...
@@kris3451 Well music is a matter of taste but I think it's fair to question why someone's worldview has led to a particular mindset which doesn't follow logically. Atheism seems more rationally to lead to nihilism.
I can see his logic. I came to believe in god solely because I feel we can never know for a fact whether god exists or not, but I find my life works better when I live with faith that there is a god. I however do NOT believe in heaven or hell. I believe that god empowers me to live the best life now, contributing the most to the good of others according to god's will and with god's support. He finds that it is the belief that there is no god and it's up to him how to incentivize himself to life the most fulfilling life, and for him he uses his narcissism to guide him. So not only does he do better not believing in god, his approach actually depends on it. He's the god of this worldview, and has decided to be a benevolent god. I'm not enough of a narcissist for that to work for me, but good for him. The world is better with him playing the game he's playing than the ones some supposed religious people are playing, meanwhile steady either harming others or simply failing to help when they could.
It’s no wonder he struggles with despair
Thanks for sharing I really enjoyed this and learnt a lot Stay blessed
An entire hour of babytalk, that's actually impressive.
I’m curious how you came to that conclusion
He is the definition of eating the meat and spitting out the bones. Great interview.
Ever think that maybe the goal should not be to "get rich in a broken economy?" Isn't that exactly why we keep ending up here? The economy will still be broken, our money will still not be backed by tangible wealth, and the few people who benefit will become our new masters. No, we need a meaningful overhaul, rather than to keep kicking this same can down the same road.
Edit: While I understand this video speaks more about what is, rather than what it should be, the people who are able to hack the game and be comfortable living in a very broken society are also going to be very unlikely to want to change it.
its absurd that the only good advice is "be in the top 1% of something" oh yea? what if I'm NOT, what about the REST of us, why is it like this NOW when it wasn't 50 years ago when everyone could eke out a good life without being the best "whatever", and we who are just PRETTY GOOD at things are getting really really fucking pissed.
While I agree with both of you, I think the broader message could be: get to a position where you no longer have to worry about these things holding you back and allows you the freedom to aquire the skills and knowledge to make meaningful changes that would allow future generations to do the same thing but with new systems you helped put in place. Leaving the world a better place than you found it, even though you 'profited' from current systems. Easier said than done ofc but it comes down to the individual what they choose to do with their newfound freedom/wealth. If you look at things with this larger perspective and hold onto it, you can make changes you want to see. And while changes like this don't happen overnight, we have to start somewhere.
Our "broken economy," as you call it, is the best economy the world has ever seen so far. It has its issues, but we have raised the floor for the bottom to levels it's never been.
@@tswierczekno, China has raised the floor with their economic system. That’s why we have to put a 100% tariff on their ev. Let me buy the 10k ev at 10k, so that American car companies are forced to make cars at 10k. That’s why the system of broken, the rich will never care about a 10k car, most Americans would love the option to buy a new car at 10k. Best economic system? Only for the rich. Best seen so far? By what metric? We used to have a much better system with a smaller wealth gap in the USA, where homes were affordable. It’s laughable to call what we have today the “best economy so far”.
@@keithfilibeck2390 Exactly.💯
Love the honesty and transparency Scott. Keep it up! For those you upset don’t listen, ignorance is bliss for you. For those who do listen, listen!
"Find your talent, not your passion." Brilliant advice.
I dont necessarily agree, things u r talented at do make you passionate about it
ik it's cliche, but its been a long time since I listened to a podcast like this, and I really needed it. Loved it!
I'm an atheist and always have been. I have never found what Scott says it is "emboldening, liberating, and an unlocked joy" I actually can see it would be nice to believe in a great afterlife.
51:30 He literally said "I can't wait when I'm at the end, I want to make a lot of money so I basically you know die at home with people I love surrounding me and I am going to do a sht ton of heroin and I am just going to play those apple "AI photos" and live his life again.
Scott, no need to wait, you could easily do this now.
Idk, I mean I get where he’s coming from. There is a lot to be found there in the acceptance that this is it. I like what he said “this isn’t a dress rehearsal”. Brings a lot of meaning to the present. Sam Harris said that same quote, which is I think where Scott got it from. It’s there if you are open to it.
I think this is the best video I've watched regarding many topics.
Great podcast to fall asleep to
I don't agree with everything Scott says, but I learn something new every time he goes on a tangent. Great guest.
This is what a chatgpt interview would look like, this is the most npc dude ever not a single unique point with his monotone voice
@@brianmeen2158 most media People recite and regurgitate the same things all over again ,this one at least doesn't sell you his course every minute or the specific drug/minerals that you're lacking and surely it's the only thing you're lacking. Opposite group of viewpoint is more common, successful success -just believe,follow your passion,law of attraction - that's more toxic, usually those people don't have any real experience outside of selling their courses and books.
How successful are you? Criticizing more successful rich people in comment sections is pretty low-class behavior.
@@krazykkarl defending "successful rich peope" from other peoples opinions in youtube comment section is an even "lower-class" behavior
@@Cruiser203 what are you looking for? Since the youtube algo led you here, chances are, you are looking for fast success with an inside scoop. Now you're mad Scott is telling you, you need to work hard, accept streaks of rejection and failure as part of your journey to success. Of course that has been said a thousand times before. So what. There is very little that hasnt been realized by some smart guy 2000 years ago. But he's dead so someone else is saying it.
@@maxmeier532 its super surface level and boring for someone that gets paid to talk. No one is mad lol
this guy is so truthful
Everything Scott says is bragging concealed as compassion/shame.
this, he's basically humblebraggin that he gets to live outside the garbage heap that 99% of us are stuck in.
@ZukoTheShinigami "don't point out why my internet daddy says. Just copy what Andrew says but in a different light."
We get it. I can hear how sticky your keyboard is 🤢.
@@ZukoTheShinigami law of averages, only a select small few can, even if I do, the vast majority don't, and now the price for not becoming a select few, is abject poverty, the gulf between extreme excellence and excellence is now insane, economically.
Clearly everything he’s talking about went completely over your head.
Hmm, is it a brag, or recognition of the luck and work (combined) that he has put in? And been the fortunate benefactor of?
I so agree with the a analogy of getting rid of the shit bucket being financial liberating...so on point. And this my goal
It's unbelievable how so many very intelligent people like this gentleman live in a bubble and are so fooled by the most obvious things. This poor man has figured everything out except what truly matters, this is what explains his incoherence.
So, what truly matters that he's missing in his message? Just trying to understand your statement here. Scott brings up good points but I do think a few things are missing in his equation to life.
@@enigma5627 that would be living for something greater than yourself... Our time in this life is incredibly brief, everyday is an opportunity and a blessing, his perspective is so cold, so empty...
@@petermangano6206 His perspective is realistic. Perhaps not idealistic, but realistic. The man fought to get what he wanted and succeeded. Created businesses, workflows, and ways in which he could live a life greater than most. He pointed out a very obvious fact in the world -- that the experience is extremely different from those who have money and those who do not-- even when going for the same services. Get money as soon as possible, because time is not a friend and the allotted time in which you can get the funds to make others happy is limited by that person's amount of life left. By the time you can get the funds to make others happy, have exciting experiences (which now cost money) , whether it is getting them out of debt, helping kids with college etc etc is very short and limited as you mention.
@@petermangano6206 you're still dodging what exactly you are referring to. Truly matters, greater than yourself...What are you talking about? Believing in a higher power? That doesnt work for everyone, a lot of people cant have faith in something that is most likely completely made up by man some thousand years ago. Anyhow, I think you missed that point of his, because he only mentions it but doesnt dwell on it: He enjoys being able to create financial security for his children and his father on a level that you cant if you made average money your whole life. And providing for your loved ones and spending your money to create memorable moments with friends, can be something that's greater then yourself.
@@maxmeier532 I never made a lot of money and yet I retired from the rat race at 35... Free your mind, none of us are trapped in a false box of two choices...
Thanks for this interview. Very insightful...
If you knew your way around in stocks inveestment, you'd understand that broken/bad economies come along with them, equivalent market opportunities. I've seen folks amass wealth in the midst of economic turmoil and even pull it off easily in favorable conditions. Invariably, the collapse is getting somebody somewhere rich
Choose quality stocks and follow them up. If you're not one for such complexities, work with an Adviser to grow your portfolio. You can't go wrong with a sound CFA.
After hearing about his parents and upbringing, I completely understand why his demeanor is so serious and stoic. But I love Dr. G; so grateful for his insight
Biden, what a joke. Suddenly this guy has a kid and they both crap their pants.
Really awesome episode. Don’t see anything from Prof G that goes against spirituality. Great advice and nuggets all over.
He made a salient point about how when he was a kid his father's boss had a slightly larger home in the same neighborhood, and how now if you are wealthy you have a different zip code and doctors. This is an example of our shrunk and shrinking middle class. A healthy vital democracy has a stable middle class, and we as citizens should strive for that balance.
Then end globalization, which exists purely to drive down incomes by using cheap foreign labor.
This video was interestingly candid and extremely enlightening, thanks a lot!
Dude doesn't own a car because you must maintain it (costing time) and then says about a minute or two later that he owns a plane. 🙄🙄 GTFO
If it flies, floats or fucks: rent it.
nice to have money and options
He probably doesn't tinker with the plane himself.
If he travels far a LOT for work, the plane makes sense. The car may not be necessary because he lives in London, one of the most walkable cities in the world.
I thought the same thing...
I’m glad I found this video. It resonates with me so well. I’m looking to watching more of this content. Thank You very much for the knowledge.
This is so depressing, that it made my depression feel good
thats depressing and uplifting at the same time
Such an incredibly honest conversation! Thank you both for this. If such successful people feel all this, are so harsh on them, then its all right for us, simple people, to be this way, too. Thank you, really.
This guy has a very emotionless, scientific way of looking at life.
not really. he is actually all about emotions. he is doing things to feel good about himself. not for some abstract purpose.
@@maxmeier532 ok
Greatness and wealth is in the agency of others. Scott G. So powerfull.
49:18 - always cracks me up when people call earth an "unremarkable planet" like they've seen so many planets earth is just boring now. Almost as crazy as saying you canvassed for Harris
High profile guests. Love it.
Drinking game: take a sip every time this guy says "I"
I dunno. I think when someone asks you on a podcast and asks questions about yourself then that’s kind of unavoidable
He is literally being interviewed?
Love this episode, great stuff
Bro is a doctor in yapoligy
typical biz bro
😂😭😭
true, but he did pay his dues to get to a position where he earned that degree in yapology.
He is a Hebrew afterall.
I appreciate you and thanks for sharing your knowledge and wisdom with us. May Allaah guide you, bless you and reward you abundantly 🙏
Scott is profoundly obsessed with envy, and having VIP experiences. He has now repositioned himself as talking nonsense to millennials to offer them hope, while is really selling doom and gloom.
He is like many who portray themselves to be wise and "all-knowing" - so he can get famous.
How do you think he's selling doom and gloom?
And yet, he'd be the first to criticize Trump for being self centered and wealth focused.
I have seen interviews with him and he is not giving anyone any hope, quite the contrary. Another recent interview ith Simon Sinek he basically listed all the reasons why young people effed by society, short summary: Living is x more expensive, education is x more expensive, all adjusted for inflation, so in other words, youth today gets paid less and can afford even less with it. When he says things like dont follow your dream, do what you're good at, strive for financial independence, he is just stating what most parents would say and adds an atta boy. You dont have to agree with him.
Thank you.
When I was a teenager I knocked thousands of doors and faced tons of rejection. But I had men in my community that I knew supported me and had my back. There have been other times in my life when I was totally unable to face rejection, those were also times when I didn't have that same dynamic of friendship. The key to life is making friends.
Currently 26 listening to you just hit the follow button this was a great video . A little bit behind the ball but as a trucker I been trying to save money and turn to efts & stocks I understand I won’t have money now but in the next 30 years when am 50 I’ll have millions which I’ll hand of to my kids to change their life’s . Learning the long game around my friends that have already bought homes is really heard even do I want too I have said no too my wife .
"The power of compound interest"
20 min later
"above a certain point, wealth has diminishing returns"
This is probably the most difficult balance to strike in life
what? one statement is purely financial, the other is about the fact that the more you have the less even more will have an effect on your life. You think Jeff Bezos has a vastly different life whether he has 5 billion or 50 billion dollars?
Great info. Thanks so very much for sharing! HooYah!
I appreciate Scott as a person of societal success who practices understanding for the economic difficulties most people are facing.
Beats the whole “pick yourself up by the bootstraps” nonsense of the Boomers.
@Cptn.Smoker I hope you have gold, bitcoin, and land for your kids otherwise they'll have a blast being poor.
@Cptn.Smoker
Compassion is important to many people. It goes beyond the metrics of economics.
Also, people with money are compassionate. Being poor and having compassion aren’t causal.
@@topdev_tech9156
The issue is that it isn't possible to do so.
It's a terrible way to make sense of the modern world.
Something more pragmatic such as, "Don't find your passion, find your talent" is much more ideal.
I'm in school decorating myself with trade certificates, by the way, don't you worry *bro*
@@topdev_tech9156
I'm aware of what you're conveying, however, it is literally impossible for one to lift themselves up from their bootstraps.
Plato mentioned in 'The Republic' the problem with teaching children lies.
We need the narrative to be something much more pragmatic.
Scott did well with, "Don't find your passion, find your talent"
This, for example, is a much better way to position any given individual for success in a free market society versus the condescending undertones of "lift yourself up by your bootstraps" which requires zero consideration of your fellow citizen and zero understanding.
Last I checked, one purpose of the Constitution is to *form a more perfect union*
We don't move towards that with non-sense ways of making sense of our environment like 'pick yourself up by your bootstraps."
Respectfully.
@LotusHart01 lets keep it simple, compassion is important in the interpersonal human experience, but it is not going to give you success in a competitive capitalist world.
This dude is switched on. Excellent interview, lots to learn here.
I disagree with some of Scott's politics, but he has some great principals and ideas that are on point.
luv when new money tell us what it’s like on the other side
Imagine understanding the current economy so well and empathizing with Millennials and Gen Z about their financial plight and then talking about canvassing for Joe Biden as if 4 more years of the current administration is the answer 😂
Biden sucks but Trump isn’t any better
Also not a fan of the current admin, however it would be silly to not recognize that the prior administration was the one that kicked all this off.
I would not vote for Biden, I simply would not vote for anyone of that age and mental deterioration
but factually the last republican president to lead an economic uptick (reduced unemployment increased job growth) is Raegan in his second term (technically both terms but it was really 5.5 year span).
but oddly enough every single Democratic president has done that since after Carter.
Historically America does its best by a wide Margin having a Democrat in office with a Republican Congress over the last 50 years.
there are beliefs surrounding this that you have a wide eyed, compassionate and hopeful leader (the democrat) who is tempered
and restrained by a much older, wiser and stern republican congress.
Even by age statistically the best age for someone to enter office is 47 which even this should not be that odd if you consider wisdom
experience, cynicism, optimism and energy also makes your 40s the best age to start a business (rather the highest likelihood of success)
The Overton windows has shifted so much that the 3 viable candidates are all democrats. There is no actual conservative party it's just a skin puppet wearing the name. Although I'm pretty sure Trump was doing well economically unit the rona
Dude exactly what I was thinking 😂
Wonderful advice ❤
This guy is brutally honest about what's real.
Thank you
Love his comment about not being so profane. I’m not religious but I appreciate when people don’t drop f bombs too casually.
I love this guy!
Why so many people hating on Scott? He drops wisdom and his message is worth repeating millions of times. Carefully listen.
Yeah this comment section is pretty bizarre. Not sure about all the hate.
His vids regarding men's wellness and health are pretty accurate.
everything he says is completely obvious but he takes an eternity to say it and his success is because he was a boomer who came of age during a time and place when there were fewer barriers than at any time in human history
He makes people feel terrible about the decisions they’ve made and people hate a winner who talks about it. He is 100% spot on about wealth. I don’t agree with him on some of his other opinions but he’s a solid guy.
I luv this guy, Spot on for “ life” in everything
The gift of life & being your best whatever that is we all have gifts - 90 % are not the 1%
Take your child out to canvas for Biden? LOL
Yeah, I don't understand how he can still be a Biden supporter?
i suspect he meant to expose & test his son to a brutal rejection :)
Awesome interview !
Why is Galloway a person people go to for advice and wisdom? I don't get it.
Because he is rich?
Because a lot of people out there didn't grow up with a father figure 😕
He’s not, the algorithm sells the world a new version of this guy every few months.
I discovered him through reading his book Adrift, which I liked because there and in his Ted talk he talks about all the real problems with the US.
And at least he’s better than Jordan Peterson? 😅 (super low bar, I know)
well you're on youtube, so if you are looking for either, HERE, you do need the advice to look somewhere else.