Hello you savages. Get access to every episode 10 hours before TH-cam 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.
I am a little worried about growth projections of funds i kept in a HYSA north of $80k, I aim to avoid FOMO and look at buying at the dips. Am I better off investing into Gold as it seems stocks are a little too unstable right now?
Overall, most traders or investors still think this year would favor stocks, and other equity-based investments over cash-like investments. Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.
Accurate! asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
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.
@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
One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $200k of my savings in stocks this year, and I hope I make profits.
You are right. The best approach I feel is to diversify investments- by spreading investments across different asset classes like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.
I really want to get in with a financial advisor this year, especially as all markets are hitting highs. I don't want to be too optimistic and end up losing everything.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
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.
@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.
You are the first educated person I have listened to that has compared private school to invested money instead. I say this all the time and don’t understand why more parents don’t view it this way. Love this episode, just found your channel. Great perspective and mindset.
I'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.
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.
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...
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.
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.
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”.
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.
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
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 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)
Really grateful for this guy, teaching finance to young people that otherwise wouldn't get it....i had wished i watched this when i was in college-wasnt available. Don't waste the advice guys! No one will respond to this. No thumbs up no thumbs up because i have been banned. None of you are reading this but if you are. Thumbs up thumbs down either or PLEASE!
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.
Realising the should bucket never needed to exist, has pushed me into a trajectory I cpuld never have found. Ive done that without financial security and it has even given me a better financial outlook. Not disagreeing with you Scott, just commenting
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.
It's a matter of being in the right time and place. There more time/places you are at while you are young, the greater the chances you'll hit a home run while you are still young!
Scott makes some interesting points, but a lot of his advice runs smack dab into the fact that most people in the so-called 1% have pathways to the 1% that aren't directly replicatable. In fine detail, his path can't be repeated by anybody else. So, there's a bit of wish-selling happening, any time someone in Scott's position hands out life coach advice.
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 .
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
Outstanding information,with world crisis,rising inflation and economic instability due to poor governance, consider digital assets as a means to attain financial freedom.
I don't know who this guy is but i loved the interview. he's not a glazed eye IT millionaire unaware of human reality, this guy shows great experience and understanding of wealth while retaining a human factor / understanding.
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.
The Avatar comment resonated with me. My daughter ( 6 at the time) and I waited 3 hours in line for that ride. Lets get to the money so that we can have the option to splurge a little. Scott is a true gem.
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.
We're learning to become self sufficient to bring down our costs of living. And focusing on what we can do to make our own local business out of what we're already doing.
I've been reading his book and been listening to some of his podcast. Fantastic insights I haven't heard anywhere else. Love his quips. Very smart and practical about how to approach money. Then he talks politics. 💩 It still boggles my mind how he can say inflation is killing us and Nancy Pelosi is out of touch in one sentence, and then say we should pay more taxes and Biden is a saint in the next. Chew the hay, spit out the sticks, I guess? 🐴
I got introduced to Scott through Chris's podcast, and I highly recommend you give the Prof G Pod a listen. I've genuinely learned a great deal from him lately. I sincerely believe that staying within your echo chamber will stunt your growth. Just because you aren't left-leaning and he is doesn't mean you should ignore his insights-I find such a notion horrendous. Listen with an open mind, pick what works for you, discard what doesn't, and remember that there's a lot we don't know. God Bless You.
Agreed. I also find it interesting when people (like him) seem to agree with the general "megapack" of opinions associated with one side or the other, but then throw you a curveball in who they vote for...it's like, what's going on there? It always makes me more interested in a person when they don't fall neatly into a predefined pack of opinions.
@@HJ-jy7fw That's crazy - I listened to him on a CNN podcast - and he said that during covid he lived "the best years of his life". Netflixing, spending time with his family, working online ... So it's so crazy for me to hear that he advocated for mandatory vaxx. Makes me lose respect a bit.
@@Rayna-sg8zj That's his CNN rap I guess. He became very involved with his children's schools "safety" committee advocating for school closures and shots for kids..
A lot of the folks in the comments aren't feeling this one, but I loved it!! Took away a lot, juat gotta have an open mind and not take every word so serious.
LMAO! love the last bit with the tomahawk missle thing. also 100% agree. Case in point, i live in Pennsylvania and they have a school tax that we see on our paychecks. To be completely honest, i havent been in school in years but i appreciate the transparency as to WHERE my taxes are actually going and it does in fact make me feel good about it . I can say "yes, my salary is helping contribute to the school system here".
Scott doesn't have the demeanor or affect of a happy and at peace person, and several times throughout the conversation he seems to tacitly admit that he struggles with being happy or satisfied. When your schtick is "listen to me, I have life all figured out," that kind of undercuts your message a bit.
not really, because the ones that pretend to be on top of everything and never have had a bout of depression are quacks. you are looking for purity, and I am telling you, the ones that sell purity are the most impure.
I am a BIG Galloway fan. Which is how large my disappointment is at hearing him say 'passive income'. There are no shortcuts in nature, which is what that is. On who's 'active' back, professore?
Scott makes some great points, but the dirty is that one needs a strong education foundation in the K-12 years in order to build the professional skills that WILL MAKE GOOD MONEY. Getting a right foundation in the US is a dime a dozen.
Not true, I have a friend who is a Locksmith, he dropped out as a Sophomore in HS, is starting his own locksmith company, due to him learning the craft on the job, They can average more than $200k yearly easy depending on the location. I also have known people who dropped out of high school who took to certificates such as the "Salesforce" ones, and are making $150k / year being a Salesforce Admin for a company. I myself graduated from high school with the 7th lowest scores in the school and make more than $100k /year , I simply enjoyed fixing computers and tinkering...I worked support and job hopped and here I am lol. My dad did have his education, however did not attend college. He started a business of selling jewelry back in Peru as a risk, and it paid off, he was earning about $300k just in the Christmas season back in the early 1990s as he built it to scale (having multiple small stands in different malls etc) -- he got the original money to start it up by going to NY and working at a pizza place for a year and not spending any money (not taking my mom out to the movies or buying clothes or cars etc) . He bought and paid off his house in 3 months once the business was running stable, that house is worth $2mil today lol (it was worth $350k back in the 90s). My grandpa also came from a poor family, he did not have any school education though, he learned to make rugs, went door to door to sell rugs, grew his business, then shrunk his business and sold the rugs for a lot more once word of the good quality of them got out. He got to buy a house in one of the fancier places in Peru and made enough savings in his lifetime (he died early of stomach cancer.) to have my grandmother retire by her 40s, it even paid for her elder care etc when she moved to Sweden with their kids (my mom stayed in Peru with my dad) . So, honestly, you can do anything if you put your mind to it. Don't be limited to just the US, maybe your product or talent would be a hit in Japan, or South America, money is money, so go get it!
Man great episode. Love the amount of hate in the comments. Comments are affirming of everything he says as most writing negative comments are the ones he speaks of.
"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?
Galloway provides some great advice, but might fail to realize that some if not most people never find their talent or are frankly just not that talented at anything. So for them, almost no amount of hard work will provide much of anything. This is most people, sadly. And they should still have the right to work hard for a living and have a good amount of wealth. Labor unions and sensible tax policy used to be more just for the average person, but now everything is more punishing. Stagnant wages, cost of living, etc. The wealth divide gets worse by the day and it’s disgusting.
IIRc he mentioned unions in another interview and according to his opinion, unions are failing the workers. I dont think he would dispute what else you're saying, however, what's the solution. he is trying to give everyone an at'ta boy and to lower your goals: Dont try to be in the 1% of anything, do what you're good at (which is very relative) and stay with it, cause once you hit your annual nut, you're good (ie can pay the bills which takes away most people's daily worrying). If you are an average plumber and can make a living: You are good at it, doesnt matter whether you win the plumber Olympics. You're good enough.
Great Interview! This guest was informative, funny, spiritually confused in his atheistic stance, very witty, rich and accomplished, fairly contradictory, yet an overall pleasure to hear from! Thanks for participating Scott.
The idea of telling your kids that sometimes you need more cuddles, is just amazing. That just hit me, and I love the focus on not being so stoic all the time.
Because he's rich and is not affected by the astronomical costs of groceries, gas, rent/mortgage payments, and everything else the middle class and poor are having to deal with. So he doesn't care if everyone below his wealth level and social class struggle everyday. That's pretty typical. I don't like Biden or Trump, but it would be great if someone would step up to make changes to take care of fellow Americans.
I would love for Scott to explain why -as a rich man - he would be that enthusiastically supportive of a president who shits his pants, has Kamala Harris as VP, and leans into pro-hamas supporters... Oh yeah cos non of this shit will impact him or his family.
I’m surprised with a lot of the negative tone here. I think there’s a lot of good advice to be taken from what he’s said. As he said, he’s talking about how things are, not how they should be, and I think his advise fits fairly well in that frame. Clearly a lot of people don’t agree.
There are a lot of people who dislike being told to live within your means and be financially disciplined. Doesn’t help that Scott is truthful and talks about how much he has. Most people think luck is the primary ingredient to getting rich. It isn’t. You need luck if you want to be rich in 30s and 40s which is where most people screw up. They try to get rich and spend like it in their 20s 30s and 40s and financially screw themselves in their 50s.
His first time on the podcast I really liked. This one is so strange how selfish it is, projected as anything but most of the time. His political philosophy is also strange how controlling it is, again projected as something like philanthropy.
He makes some great point; pursue your talent, view your family as an economic unit and construct your life accordingly but his inability to reckon with being at the top of a broken system is troublesome and illustrative of the West. Is life really so great for you to afford the finest when the proportion of people struggling is growing by the day? What kind of a society is that? Some people want a simple life and aren’t motivated by $6000 VIP tickets to cut the line at Disney. They just want to be able to afford a basic life with dignity but can’t anymore. Can we really say that we are successful against that backdrop? You’re just reinforcing a terrible pattern. The lack of altruism and his adherence to atheism makes his prescription less credible. Flex the Pareto principle instead of looking to tinker with it to make a better future. Uninspiring.
What the heck does atheism have to do with his credibility? It’s better than when the religious claim that you’ll only be a success if you follow their particular religion, and that unsuccessful people are clearly being punished by God. Or that if you want to be successful, you’ll have to tithe any money you have even though you’re broke already. The worst cope is the “No matter what happens, God will provide” schtick. It keeps people delude, poor, and blunts any rightful action to fix a broken system. Being an atheist isn’t a moral detriment and being religious doesn’t give someone a moral edge either. Step down off your high horse.
Well said. This guy sells a depressing albeit ‘realistic’ outlook for young people. I get that specialisation in an economy is important but most people can’t specialise to a degree where they fast track themselves into the upper echelon of society, so that just means becoming more and more entrenched into an underclass, which will eventually just create a two tier society worse than the one we already have.
He has good advice and good perspective on real economics and what it means for young people, but i cannot understand nor support anyone thinking a second biden term would be anything other than a disaster
Nah canvassing asking for a vote at the house of SOME people who support another candidate who have a pitbull with them & don’t want you to be there.. .. can be a good test of character. C’mon man, don’t pretend you don’t get his point.
I mean, Kid Rock shot at Bud light cans with an AR 15 because of a failed attempt of Bud to find new alcoholics. So yeah! Some people who open the door will be very unpleasant when you advertise to vote for Biden.
Hello you savages. Get access to every episode 10 hours before TH-cam 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
Iiooiiiiioooiiooooooòiioij😊
I’m too in op in j nin oin nj
O
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.
I am a little worried about growth projections of funds i kept in a HYSA north of $80k, I aim to avoid FOMO and look at buying at the dips. Am I better off investing into Gold as it seems stocks are a little too unstable right now?
Overall, most traders or investors still think this year would favor stocks, and other equity-based investments over cash-like investments. Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.
Accurate! asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
@@SlowrideHome91 That's incredible. Could you recommend who you work with? I really could use some help at this moment.
That's incredible. Could you recommend who you work with? I really could use some help at this moment.
Victoria Louisa Saylor is the NY-based advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
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
*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.
He doesn't have to manage a plane
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
I like Scott - don't agree with all of his ideas, but he is a positive contribution to society.
One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $200k of my savings in stocks this year, and I hope I make profits.
You are right. The best approach I feel is to diversify investments- by spreading investments across different asset classes like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.
I really want to get in with a financial advisor this year, especially as all markets are hitting highs. I don't want to be too optimistic and end up losing everything.
Vivian Carol Gioia is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
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.
@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.
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.
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.
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.
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.
He is the definition of eating the meat and spitting out the bones. Great interview.
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.
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.
Scott's true talent is his ability to tell a good story: parables and allagories in particular.
"Find your talent, not your passion." Brilliant advice.
I love Scott for keeping in real and telling it like it is. No bullshit.
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...
love this conversation Scott seems like very down to earth and genuine guy and obviously has alot of value to offer
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
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.
Might disagree with him on the Palestine topic, but other than that, this dude is a gem. Keep it up, Scott!
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!
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.💯
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.
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!
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
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.
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!
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.
Really grateful for this guy, teaching finance to young people that otherwise wouldn't get it....i had wished i watched this when i was in college-wasnt available. Don't waste the advice guys! No one will respond to this. No thumbs up no thumbs up because i have been banned. None of you are reading this but if you are. Thumbs up thumbs down either or PLEASE!
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.
When you make enough, flying is more profitable because flying private saves time
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.
Realising the should bucket never needed to exist, has pushed me into a trajectory I cpuld never have found. Ive done that without financial security and it has even given me a better financial outlook. Not disagreeing with you Scott, just commenting
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.
It's a matter of being in the right time and place. There more time/places you are at while you are young, the greater the chances you'll hit a home run while you are still young!
Scott makes some interesting points, but a lot of his advice runs smack dab into the fact that most people in the so-called 1% have pathways to the 1% that aren't directly replicatable. In fine detail, his path can't be repeated by anybody else. So, there's a bit of wish-selling happening, any time someone in Scott's position hands out life coach advice.
I dont think he was born into the 1%. His dad owns 9 washing machines at the age of 94, doesnt sound like they vacationed at Martha's vineyard.
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 .
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 😂
I’m Christian but this was a legit talk on many topics.
Outstanding information,with world crisis,rising inflation and economic instability due to poor governance, consider digital assets as a means to attain financial freedom.
Thank so much for the advice been seeking means of being successful in the digital market,do you recommend any professional ?
I don’t really do but luckily Angela grace boots is the best I can recommend so far..
Please how do I reach out to her? I’m in need of her assistance.
+1689
1689
I don't know who this guy is but i loved the interview. he's not a glazed eye IT millionaire unaware of human reality, this guy shows great experience and understanding of wealth while retaining a human factor / understanding.
I appreciate you and thanks for sharing your knowledge and wisdom with us. May Allaah guide you, bless you and reward you abundantly 🙏
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.
The Avatar comment resonated with me. My daughter ( 6 at the time) and I waited 3 hours in line for that ride. Lets get to the money so that we can have the option to splurge a little. Scott is a true gem.
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.
Chris smiling while Scott talks about how non-affectionate his British and Scottish parents were was special.
Best life advice ever. I’ve been asleep.
We're learning to become self sufficient to bring down our costs of living. And focusing on what we can do to make our own local business out of what we're already doing.
I've been reading his book and been listening to some of his podcast. Fantastic insights I haven't heard anywhere else. Love his quips. Very smart and practical about how to approach money.
Then he talks politics. 💩
It still boggles my mind how he can say inflation is killing us and Nancy Pelosi is out of touch in one sentence, and then say we should pay more taxes and Biden is a saint in the next.
Chew the hay, spit out the sticks, I guess? 🐴
I got introduced to Scott through Chris's podcast, and I highly recommend you give the Prof G Pod a listen. I've genuinely learned a great deal from him lately. I sincerely believe that staying within your echo chamber will stunt your growth. Just because you aren't left-leaning and he is doesn't mean you should ignore his insights-I find such a notion horrendous.
Listen with an open mind, pick what works for you, discard what doesn't, and remember that there's a lot we don't know. God Bless You.
Agreed. I also find it interesting when people (like him) seem to agree with the general "megapack" of opinions associated with one side or the other, but then throw you a curveball in who they vote for...it's like, what's going on there? It always makes me more interested in a person when they don't fall neatly into a predefined pack of opinions.
The comments are pretty negative one this one but I personally enjoyed quite a bit, thank you !
Scott Galloway is like Chris Cuomo.
If- there is another "lockdown" I hope Scott and "men" like him stay in their lanes..
Did he push for mandatory injections?
@@Rayna-sg8zj Oh yeah- and school closures. He now says he wished he had more info at the time..
@@HJ-jy7fw That's crazy - I listened to him on a CNN podcast - and he said that during covid he lived "the best years of his life". Netflixing, spending time with his family, working online ...
So it's so crazy for me to hear that he advocated for mandatory vaxx. Makes me lose respect a bit.
@@Rayna-sg8zj That's his CNN rap I guess.
He became very involved with his children's schools "safety" committee advocating for school closures and shots for kids..
get over it.
A lot of the folks in the comments aren't feeling this one, but I loved it!! Took away a lot, juat gotta have an open mind and not take every word so serious.
I love Scott for keeping in real and telling it like it is
LMAO! love the last bit with the tomahawk missle thing. also 100% agree. Case in point, i live in Pennsylvania and they have a school tax that we see on our paychecks. To be completely honest, i havent been in school in years but i appreciate the transparency as to WHERE my taxes are actually going and it does in fact make me feel good about it . I can say "yes, my salary is helping contribute to the school system here".
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%
Scott doesn't have the demeanor or affect of a happy and at peace person, and several times throughout the conversation he seems to tacitly admit that he struggles with being happy or satisfied. When your schtick is "listen to me, I have life all figured out," that kind of undercuts your message a bit.
🎯
Him describing his kids as "awful and demanding" is pretty telling also
not really, because the ones that pretend to be on top of everything and never have had a bout of depression are quacks. you are looking for purity, and I am telling you, the ones that sell purity are the most impure.
@@maxmeier532exactly
Thanks for this interview. Very insightful...
Greatness and wealth is in the agency of others. Scott G. So powerfull.
Great podcast to fall asleep to
Learned a lot from this episode and enjoyed the guest. I just wish he didnt have TDS.
I am a huge Scott Galloway fan. Thank you for having him on.
Something to learn for myself: re: living in the past, mistakes, regrets.
I am a BIG Galloway fan. Which is how large my disappointment is at hearing him say 'passive income'. There are no shortcuts in nature, which is what that is. On who's 'active' back, professore?
Scott makes some great points, but the dirty is that one needs a strong education foundation in the K-12 years in order to build the professional skills that WILL MAKE GOOD MONEY. Getting a right foundation in the US is a dime a dozen.
Not true, I have a friend who is a Locksmith, he dropped out as a Sophomore in HS, is starting his own locksmith company, due to him learning the craft on the job, They can average more than $200k yearly easy depending on the location.
I also have known people who dropped out of high school who took to certificates such as the "Salesforce" ones, and are making $150k / year being a Salesforce Admin for a company.
I myself graduated from high school with the 7th lowest scores in the school and make more than $100k /year , I simply enjoyed fixing computers and tinkering...I worked support and job hopped and here I am lol.
My dad did have his education, however did not attend college. He started a business of selling jewelry back in Peru as a risk, and it paid off, he was earning about $300k just in the Christmas season back in the early 1990s as he built it to scale (having multiple small stands in different malls etc) -- he got the original money to start it up by going to NY and working at a pizza place for a year and not spending any money (not taking my mom out to the movies or buying clothes or cars etc) . He bought and paid off his house in 3 months once the business was running stable, that house is worth $2mil today lol (it was worth $350k back in the 90s).
My grandpa also came from a poor family, he did not have any school education though, he learned to make rugs, went door to door to sell rugs, grew his business, then shrunk his business and sold the rugs for a lot more once word of the good quality of them got out. He got to buy a house in one of the fancier places in Peru and made enough savings in his lifetime (he died early of stomach cancer.) to have my grandmother retire by her 40s, it even paid for her elder care etc when she moved to Sweden with their kids (my mom stayed in Peru with my dad) .
So, honestly, you can do anything if you put your mind to it. Don't be limited to just the US, maybe your product or talent would be a hit in Japan, or South America, money is money, so go get it!
Man great episode. Love the amount of hate in the comments. Comments are affirming of everything he says as most writing negative comments are the ones he speaks of.
"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?
27 minutes into this and I’ve learned way more then expected
I guess I'll brace myself to get passionate about collecting a UBI cheque sometime in the next 15 years when jobs hardly exist anymore.
Great, you’re all set for this life! What about your next life?
Galloway provides some great advice, but might fail to realize that some if not most people never find their talent or are frankly just not that talented at anything. So for them, almost no amount of hard work will provide much of anything. This is most people, sadly. And they should still have the right to work hard for a living and have a good amount of wealth. Labor unions and sensible tax policy used to be more just for the average person, but now everything is more punishing. Stagnant wages, cost of living, etc. The wealth divide gets worse by the day and it’s disgusting.
IIRc he mentioned unions in another interview and according to his opinion, unions are failing the workers. I dont think he would dispute what else you're saying, however, what's the solution. he is trying to give everyone an at'ta boy and to lower your goals: Dont try to be in the 1% of anything, do what you're good at (which is very relative) and stay with it, cause once you hit your annual nut, you're good (ie can pay the bills which takes away most people's daily worrying). If you are an average plumber and can make a living: You are good at it, doesnt matter whether you win the plumber Olympics. You're good enough.
Great Interview! This guest was informative, funny, spiritually confused in his atheistic stance, very witty, rich and accomplished, fairly contradictory, yet an overall pleasure to hear from! Thanks for participating Scott.
The idea of telling your kids that sometimes you need more cuddles, is just amazing. That just hit me, and I love the focus on not being so stoic all the time.
This video was interestingly candid and extremely enlightening, thanks a lot!
brilliant podcast and just love who Chris asks amazing questions and just lets it flourish ...
This man is an inspiration, but I really don’t understand how he can support Biden.
Because he's rich and is not affected by the astronomical costs of groceries, gas, rent/mortgage payments, and everything else the middle class and poor are having to deal with. So he doesn't care if everyone below his wealth level and social class struggle everyday. That's pretty typical. I don't like Biden or Trump, but it would be great if someone would step up to make changes to take care of fellow Americans.
As old and bad a candidate and person Biden is, the other guy is worse in every aspect. Plus, there's the whole convicted criminal thing.
It's Elder Abuse plain and simple.
Yeah it's wild
I would love for Scott to explain why -as a rich man - he would be that enthusiastically supportive of a president who shits his pants, has Kamala Harris as VP, and leans into pro-hamas supporters...
Oh yeah cos non of this shit will impact him or his family.
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.
I was all in until he said Biden
You don’t need to be all in.
Take what you can use and forget the rest
I've always thought that giving, to me, seems like a selfish act. Because it makes me feel good to help. I do it anonymously. Such a good feeling.
Promoting to pay more taxes in a system thats already incompetent is scary.
After almost 4 years of this nightmare administration, anyone pulling behind Biden at this point, I just can’t take seriously.
Haha, I almost lost him there too.
In what way are you worse off today than you were 4 years ago. How were you better of in 2020 than in 2016. I'm waiting.
the ending of this podcast is so good... trust in the government is at an all time low... the government needs to win our trust back...
I’m surprised with a lot of the negative tone here. I think there’s a lot of good advice to be taken from what he’s said. As he said, he’s talking about how things are, not how they should be, and I think his advise fits fairly well in that frame. Clearly a lot of people don’t agree.
There are a lot of people who dislike being told to live within your means and be financially disciplined. Doesn’t help that Scott is truthful and talks about how much he has. Most people think luck is the primary ingredient to getting rich. It isn’t. You need luck if you want to be rich in 30s and 40s which is where most people screw up. They try to get rich and spend like it in their 20s 30s and 40s and financially screw themselves in their 50s.
Id recommend Scott look deeply at the policies of the ruling party(sep 2024) and consider how they help the economy in any way shape or form.
How about "How to help other people whilst helping yourself in a broken economy" instead. Why has everything got to be so narcissistic?
His first time on the podcast I really liked. This one is so strange how selfish it is, projected as anything but most of the time. His political philosophy is also strange how controlling it is, again projected as something like philanthropy.
You lost me at broken economy
Did you even watch the video? He literally talks about generousity and character and says "greatness and wealth is in the agency of others"...
As said above, you must not of watched or listened yet as he mentions this exact situation.
Maybe don't comment on something you don't know about.
Helping yourself can help you help your family and friends.
I love Galloway. No no nonsense advice from a guy who has been through it all and come out wealthy in the end. Seriously Awesome
Wonderful advice ❤
What an honest conversation. He is very honest and real I like him!
He makes some great point; pursue your talent, view your family as an economic unit and construct your life accordingly but his inability to reckon with being at the top of a broken system is troublesome and illustrative of the West. Is life really so great for you to afford the finest when the proportion of people struggling is growing by the day? What kind of a society is that? Some people want a simple life and aren’t motivated by $6000 VIP tickets to cut the line at Disney. They just want to be able to afford a basic life with dignity but can’t anymore. Can we really say that we are successful against that backdrop? You’re just reinforcing a terrible pattern. The lack of altruism and his adherence to atheism makes his prescription less credible. Flex the Pareto principle instead of looking to tinker with it to make a better future. Uninspiring.
What the heck does atheism have to do with his credibility? It’s better than when the religious claim that you’ll only be a success if you follow their particular religion, and that unsuccessful people are clearly being punished by God. Or that if you want to be successful, you’ll have to tithe any money you have even though you’re broke already. The worst cope is the “No matter what happens, God will provide” schtick. It keeps people delude, poor, and blunts any rightful action to fix a broken system.
Being an atheist isn’t a moral detriment and being religious doesn’t give someone a moral edge either. Step down off your high horse.
Well said. This guy sells a depressing albeit ‘realistic’ outlook for young people. I get that specialisation in an economy is important but most people can’t specialise to a degree where they fast track themselves into the upper echelon of society, so that just means becoming more and more entrenched into an underclass, which will eventually just create a two tier society worse than the one we already have.
Thank you.
Big fan of Galloway
High profile guests. Love it.
😂😂😂😂😂😂 sorry Joe Biden, bye-bye we are with Trump❤❤❤❤❤❤
Stopped listening after he said that
He has good advice and good perspective on real economics and what it means for young people, but i cannot understand nor support anyone thinking a second biden term would be anything other than a disaster
34:54 Meeting people who aren't Biden supporters is traumatizing? Really?
Nah canvassing asking for a vote at the house of SOME people who support another candidate who have a pitbull with them & don’t want you to be there..
.. can be a good test of character. C’mon man, don’t pretend you don’t get his point.
I mean, Kid Rock shot at Bud light cans with an AR 15 because of a failed attempt of Bud to find new alcoholics. So yeah! Some people who open the door will be very unpleasant when you advertise to vote for Biden.
Thanks! This was much needed, particularly today
“Baller” i try listening but damn it’s tough to listen to this person
Yes. Cringe hustle boomer talk.
Chris always excellent interviews. Enjoyed this until the end when Scott told on himself. I now feel bad for him lol