The Missing Piece in 99% of Financial Advice | Scott Galloway
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- เผยแพร่เมื่อ 27 พ.ค. 2024
- #81 Why is Stoicism so important for building your wealth? Scott Galloway, a professor and prominent figure in the field of business and wealth management, brings a unique and practical approach to achieving financial success. With a background rich in entrepreneurial success and academic insight, Galloway's formula for wealth combines focus, diversification, time and Stoicism.
Timestamps:
00:00 - Intro
05:14 - How do I get wealthy quickly
15:42 - Stoicism to describe the formula
23:25 - Scott’s realization to take things seriously
29:47 - Scott’s advice without having to learn it the hard way
38:41 - Are women better investors?
42:29 - Financial literacy and investing strategies for young people
51:44 - The criticism that had the biggest impact on Scott’s thinking
55:14 - Scott Taught Me
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How long for $10 to become $10k?
Thank you 😊
The URL not working for me... click submit and it doesn't get to the next page
@@chychychibuezeh1853 the link is working now
I love how humble Scott is. The most important thing truly IS how we treat other people. For me, personal financial stability allows me to take care of myself and be able to help my family, and give back to my community.
Yeah, he's brutally honest.
These types of videos need to be shown in high schools in all high schools ! Financial literacy missing from our educational system!
Scott is so profound and resonates with so many of us who care to listen. His humble demeanor and profound financial instructions are worth sharing! He is so disarming and admits to his mistakes. We have all been there! I wish I had heard this advice years ago. Young people need to take their financial futures seriously!
Thanks for a great interview!
I don't disagree! Financial literacy should be taught in school. However at the same time finance is also a personal journey. It's not the responsibility of schools to make us rich. We live in a competitive world. Which means we have to gain our own competitive advantage. Most people are lazy. So the way i look at it. If you learn on your own by reading, taking online courses about finance/capital markets..etc. That will give you an asymmetrical knowledge base advantage over the average person. Everyone can't be rich. School just teaches the basics. So we must go above and beyond to seek out our own financial success!
Wish they did, I'm only getting financially literate now in my early 40's.
@@lisajane4330 Well i'm 46 now. I started to get serious when i was around 33. I use to blame school as well. But i took ownership and decided that i wasn't going to blame school anymore. I take full responsibility for my life and my failures. But then i said to myself. Even if they did teach financial literacy in school. Would we have appreciated it? I remember i hated my accounting class. Which is funny because i had to re learn accounting to help me navigate company balance sheets now, when i'm reaching a company to invest in. I think its only in hindsight that we can look back and question why school didn't teach us certain things.
I love the end what he said … high character, generous, loving, forgiving person ♥️ relationships. Be around people who want you to win.
I love that. Real wealth comes from real relationships and being a generous loving person.
just sent this kind of message to my best friend just a while ago before watching this video
Social Capital is illiquid but it's the only form of risk free leverage that I know of...
You sound like you don’t have fiat wealth… but I do agree.
Pretty-make-you-feel-good string of words. What is "real wealth" from "real relationships", in reality most if not all get tired, irritated, and annoyed by our real relationships, there is no blissful prerfect real relationship. Being generous loving person hmmm if you are living on bananas and raman then abusing the 4.99 all you can eat at the end of the week its hard tobe generous, whatever that means.
@@fitnesspoint2006In reality, people just get tired of the young man's game, so they try to reinvent the narrative in favor of their moral and ethical responsibilities. Oh, I was a crap dad, but at least I have a bunch of money to make up for it now that my kid can hold me accountable for being a crap dad. If you have enough money you can sound moral without playing by the blue collar mindset.
Compound interest is amazing, but it presents a conundrum for young adults. Putting aside $50 when you're 20 is EXPENSIVE, putting aside $50 when you're 40 is almost nothing. The reason young adults don't take advantage of time with compound interest is because the value of that dollar when you are young is incredibly high! Technically, it's the same dollar, but how important that dollar is to you can vary wildly throughout your lifetime.
That is totally not true. Putting side $50 is easy for anyone. It’s a matter of sacrificing a few things in order to get it done. That’s not even as much as some peoples cell phone bill, which didn’t exist when I was a kid.
And just FYI saving just $50 won’t get the job done either, you’re going to have to save way more than that per month, and increase the amount over time due to inflation.
I do agree with your point that a dollar has a different “value” as you get older. Point well taken there.
@@tradespx9055Yeah $50 is expensive until it’s time to go to the bar/club. It’s expensive until they want to buy the newest shoes or clothes. It’s expensive until they want a Mustang or Wrangler. It’s expensive until they want a tattoo. Young people just do the dumbest things with money. I was buying the newest Nikes, bought my dream car (Mercedes SL500), and got a full leg sleeve tattoo in my 20s before even opening a retirement account… it’s all excuses. Thank goodness I got it in gear by age 28.
I 100% agree that 50 dollars has a different value when your younger and I think added to this point is when your younger you have less trust and less comprehension of what the stock market is and what an index fund is! Why the hell would you put your money into something that has zero instant/
short term gratification that you didn't even understand? You wouldnt and that's what we don't and didn't. When we are young we want skinny things we can touch and feel and go fast. not numbers in an account that we are told have the risk of going down in value.
This next generation will do well because TH-cam is full of people like Scott tell them to invest in low cost index fund. My youth had nobody saying this 😭 😂
I think you're absolutely right, but there's middle ground. $50 a month is a lot for a person with very little money, so the way they can set themselves up for success isn't outright saving, but making sure they make good choices in other areas. Avoid debt, make good career choices, and work on improving themselves - pretty simple right? But people don't do that. They keep up with the Joneses. They get themselves into credit card debt, and student loan debt (think philosophy major, not chemical engineer), and they treat themselves to travel and a lifestyle that they quite frankly can't afford.
So that means when they do start making some money and $50 isn't unrealistic anymore they aren't starting from zero, they're actually starting negative - they're in a hole.
Avoid the hole. Don't worry about saving when you're 18 years old. Start when you're 30 and you've set yourself up for success, instead of spending the next 40 years with bad habits and acting as your own worst enemy.
Starting early is the key, but some of us don't have that time. Just live the best life you can. It's not how much money you make, it's what you do with the money you make.🤔 Save, save, save!!!!!
What Scott says about Eastern Europe is true. I went to East Berlin in the summer of '88 when the Wall still divided the city and we found a hidden restaurant near the main plaza with incredible food and it was basically 'free' it was so inexpensive. However, everything else was empty and gray. There was no resources at all even for color, let alone products.
Growing wealth for most = time, consistency, and making solid investments. In other words, growing wealth = investing young + secure above avg paying job + index funds (S&P 500). This is the blueprint. Scott says a lot of things that are valuable. I’m 54 yrs old and my wife is 53…we basically followed this blueprint and have become multi-millionaires (not including our paid off CA home). We’ve been together since high school.
Good for you guys, you came up with a plan and you followed it. I think having the discipline to follow your plan is the hardest thing. I was up and down over the years, not being consistent. Now I’ve had to bust my butt for the last 10 years to catch up. I wish I had the foresight you did to just be consistent, would’ve been a lot easier on us.
Erika you are a terrific interviewer and listener. Scotty G is a Greaaaat guest!!! I LOVE how Scott is NOT afraid to speak his views on male/female differences in brain behavior and tendencies especially in our hyper PC society… So refreshing!!! Erika, You are Excellent & skillful how to allow your guest to finish his thoughts and you are always quick to ask for explanation and clarification so that your financially novice listeners will learn and understand more completely… much appreciated! 🙏🏽 And for us more financially mature, WE LIKE hearing definitions over and over again for reassurance… Keep up the great work!!! 👍 👍 👍
The advice that I like the most is to live an amazing life and not even think about the person that has wronged you.
This so important for everyone to listen to. Especially young people. Sending this video to my nieces. Thank you Erika!
Scott is my favorite character ever in 2024, holy shit I’m 19
And I’m working out and listening to this as I workout and this is absolute gold
He’s very good and this isn’t a criticism, but only in America can we mix decency, generosity, friendship, niceness with getting ahead.
True friendship is separate from personal career success. Facts.
Great episode. Love Scott Galloway's presentations, interviews, podcast, etc. Thank you Erika for sharing!
People in their 60’s and 70’s who don’t have money…likely never had sufficient money. Those people planned on finding jobs with pensions but the pension system changed to 401k’s. Also good jobs, middle management, started to disappear. These are tail end boomers. If wages have been stagnant since the 70’s, this is the generation impacted by this. Now they are single and the fastest group of homeless. Homes were not bought because they were always in low wage jobs. Some think that the economy just started to tank. It has always been bad-for many.
I have no debt and am my own boss. More than anything, financial success and independence mean self respect and tangible high net worth. Unlimited freedom, truth and happiness!
Scott's approach to decoupling self-worth from spending is enlightening and crucial for fostering a healthier financial mindset. Emphasizing the power of compounding interest and living below one's means can significantly accelerate financial independence. 💡
This is not a financial advice and I never give financial advice: DONT LEAVE DURING THE BEAR. If you don’t want to invest…learn. If you don’t want to learn…build. If you don’t want to build observe. DO SOMETHING…other than leave. There is so much opportunity here. Take advantage!
Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
@@maryHenokNftI actually subscribed for a few training courses but it didn't help much, been getting suggestions to use a proper financial advisor, how did you go about touching base with your coach?
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with *Gertrude Margaret Quinto* for the last five years or so, and her returns have been pretty much amazing.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I am amazed how many people don’t even take advantage of the fact that you can actually make money you have saved even if it’s small aren’t putting their money in a MMF or high yield savings account. Every month I get paid on my savings. It’s not enough to live on but it definitely makes a difference.
Never too late to start...I started in my 50s. Better late than never.
💯
Excellent point on the high wealth individual, they are kind to extremes. They love to share their process and are excited to learn how it can be improved on (which is usually done by younger people!).
The formula for success he proposes is a good one. I have an issue with the basic assumption though. He says that most people he meets have some talent that puts them in the top 10% or maybe even top 1%. I think there's considerable selection bias at play here because of who he is and the circles he frequents. MOST people will never be in the top 10% of ANYTHING, especially something that pays well. Pareto distribution and the bell curve are a real thing. I think most people come to that realization sometime in their 20s and have to make the most of the rest of their lives somewhere toward the middle of said bell curve. Unfortunately - and kudos to him for addressing this - the majority of people in the middle are being squeezed because of ever-increasing wealth inequality. We don't need influencers and experts telling us to focus on our talents - whatever they may be - we need to tax the sh*t out of the uber wealthy rentier class so that the rest of us working stiffs don't feel like total failures
I wonder why Erika didn't like your comment?
How can someone be “squeezed out by wealth inequality”?
Are you prevented from building muscle because Arnold Schwarzenegger has more than you?
The economy is not a zero-sum game!
Anybody can be in the 10%, there are millions of people that have achieved that and most of them started with nothing. I was homeless in my 20s after getting discharged from the military, so don’t tell me it’s not possible for anyone to do it. I didn’t get any help from any friends, parents, siblings, nobody. I did it all myself, with God’s help and a lot of hard work and elbow grease. I could’ve given up and been living in my car. Who knows I might be dead by now.
Please don’t tell anyone that they can’t do it, you never know who that person might be. Try and lift them up instead for a change. Maybe you could be the reason that it happens for them. No one knows the one small thing that could change someone’s life for the better.
The formula he is proposing is the only formula for average or below average earners. Financial success is relative. Galloway has always based his conclusions on the current reality which is super ugly right now for many if not a majority of people. He's in the moment and realistic. He regularly points out his advantages in life as a white male. That doesn't negate his philosophies here. It reinforces them...ie. young and of color? female?...well, it's the best it's ever been for you (100% True!). But this is what smart white guys do and you can too. The numbers might be much smaller for a Starbucks worker but the theory stands. It's AmeriKa. No affordable health care, eduction, housing, etc. Until that changes you better bet on living a long time and plan accordingly. That might mean no big wedding, no fancy cars or vacations. Just a good happy life focused on the real wealth of life, fun, natural activities, family and friends and the whole time your investments are on autopilot and in the same investments as Warren Buffet.$
Amen @rafalrocks
Another outstanding performance by Ryan Reynolds
Very humble and calming voice. It was super nice to listen to Scott, but I do have some personal critique of my own.
Doesn't this lead to the typical stereotype of having a stable income and making good money, but living so humbly that you end up with a lot of savings at a very old age? Sure, if you are trying to secure generational wealth then that's perfect, but I would enjoy a nice and somewhat expensive vacation, educating myself further (usually using financial means to pursue my interests), planning a nice wedding etc.
This was a great interview, I wished I was exposed to this knowledge in my early 20s, but I am able to help teach my 3 kids so they can get a head start.
If they made 80,000 back in the 90s they were basically a millionaire because I know ZERO people that made that much then
Generous and forgiving person
I found this guy to be fascinating and his wisdom especially to those of you who have "time" most insightful.
Good interview Erika. Also, I never get tired of hearing Scott Galloway.
What a rockstar Scott Galloway is.
Thanks for introducing me to Scott such a class act…. I’m definitely going to implement many of the ideas discussed. Great interview ❤❤❤❤
I love the S & P 500
Great interview. You interview well. Thanks, Scott.
Great video
Been investing since last year i’m currently 21 and I’m still early but this works so imagine doing this for years to come 🔥💯
I love this❤ So tue from my personal experience building wealth. Thanks for posting this video!
Great interview, so much great advise, thanks Erika. Totally agree with modelling behaviour for your children, this is a great reminder for me to be aware of for my children.
I was so moved by this interview!!!!!!! I really enjoyed it
Thank you!
I love the idea of gamifing saving
Great talk! Helped a lot.
Lots of quality advice in this one!
Brilliant advice love that you’re doing a challenge to get people started
I learned a lot thanks.
your videos are so great, thank you, always really great content 🥰🥰🥰
It seems like a solid way to generate extra income, but I wonder how it would affect one's portfolio in the long run.
I've dabbled in covered call trading before. It can be lucrative, but if not planned well, it could lead to significant losses, especially in a volatile market.
Plus, considering the current global economy, it's essential to be cautious. Economic downturns or geopolitical events can greatly impact the effectiveness of this strategy.
The problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.
This is worth the time. This guy has such an interesting perspective!
Scott provides excellent advice.
Another Scott who would be interesting to try to get on your podcast is professor Scott Cederburg.
It's sad that I taught for 36+ years--a passion--which proved to be a huge financial mistake. Who is going to go into these jobs if it is all about money?
Awesome wisdom in this video
Scott Galloway 💯🥃
I can see some of his points, but I would argue two things. Diversity in the market will raise allow for wealth security, but it does not build it. As for stoicism, this is not realistic for many young men who are under 6' who have to make an impression to find a partner. I would even add, that a guy who spends some cash on their clothing and appearance could find a relationship which will inspire them for decades, which will raise their income and their wealth level.
Ok, later in the video he addresses some of this which is good.
The only people I know that are ahead are people who got support from family. People who need to do everything on their own in 2024 are constantly behind the curve.
Same, even my Dad got help by his Dad with getting into the housing market in the late 70's. Not playing victim but my husband & I haven't had that luxury from any relative.
First off 5:34 slowly.
Before July 29 2024 buy 10 TSLA.
About 2k now (April). Then forget you have them for at least 10 years (and don't even think of it as an asset - your holding it trust for your future self - to yourself always be true).
Meanwhile, if situation allows; appreciate home cooking, wear outfits 30 or more times a year, choose to live smokefree, only one subscription at a time, ...
Just being able to watch YT you are more fortunate than most in the world.
Beautiful humain been this man ❤
This was massively good holllyyy foookkkk lfgggggg!!
Yes absolutely, however... When everyone starts doing the same thing then the yield comes down, like competition in business. We have the greatest wealth divide ever, debt as a percentage of GDP getting out of control. Real estate really became a commodity over the last 15+ years. Getting cash positive return renting out property becoming harder. Absolutely you have to understand how the game is played ! And watch out, the rules will change over time.
Love Erika’s video, but for some reason TH-cam keeps unsubscribing me to her channel
An average CALPERS pension is over $100K USD w COLA work 30 years and live until 90-make over 4 million guaranteed for life! Then you feel financially comfortable and you help people financially for the rest of your life!
The recipe is to have a goal of a 100k in stock before 27 years old and keep putting 20% of income in stock
THIS IS GOOD CONTENT
25:10 lol
Ironically, he mentioned SPY, which is not a low cost index fund (comparatively)
25:00 did he say his son walk away with his girlfriend ?
thats what im tryna figure out lol bahaha
but we must stay focused.
No, he said his oldest son came marching out his girlfriend, ie they had a baby and he wasn't as financially prepared for this moment as he wanted to be.
Anyone else thinks he looks like Dave Ramsey? I thought it was him
He still looks like Dave Ramsey after watching for 5 mins😂
If no one went on trips, bought nice clothes, went to fancy restaurants who would get rich?
Cars go down in value but houses go up.
Taking advice from broken ones
Seriously !!!!!
In 2024,don't set new year financial goals without consulting a financial adviser.there expertise ensure a solid plan for success.Building wealth involves developing good habits like regular putting money away in intervals for solid investments.
Thank you for your work, Erika.
Just a thought: I love how capitalism has become this universal bad guy. Any financial system is only as good as the person behind it. This is the same logic that blames drugs, guns, etc... and not the people who are using them.
At 25:00 does he say his son yelled at his girlfriend? it sounds like he said my son had the poor judgment to “ march out” at my girlfriend. Does that mean they got in a fight or he made a pass at my girlfriend? I think we are all dying to know what he said. Because it’s the Apex the story.
Marched out of his girlfriend. In other words, he had a kid.
@@ryankemp3602 That is so weird how he says "his son had the poor judgement". His son was born.
Very interesting and great advice
But these words are hmm
“My son had the poor judgement marching out with my girlfriend”
It seems he has the bad judgement to date a way younger woman that he should have had that his son and her were attracted to each other?
Unless misinterpreting this expression 🤔
Either case even when he seems
To have worked so hard to build wealth, try to teach solid moral and character foundations to his kids, it seems some people are born with some traits that are not possible to teach or learn.
Hopefully he found a good partner now.
Houses , not cars, show wealth in Los Angeles.
Scott Galloway is a nice guy with a lot of really good ideas, but he's COMPLETELY disconnected with reality on his advice to young people. Ask Scott how much was tuition at UCLA when he went, or even how hard was it to get in when he was there? Ask him what the average cost of a home was relative to average income, which is how all these $80,000 government workers were able to build wealth as home prices appreciated from basically peanuts to millions of dollars. He's got Boomer insight and information, and while it's awesome to say "just invest in the S&P" or "start a business" the reality is that the younger generations have been cursed with massive debt and massive inflation...and wealth building is more a figment of who you are related to and not "patience and hard work."
Fortunately, you are incorrect. Yes, tuition was lower when he was in school but so was everything else, including income and wages. If I had a negative outlook based on the fact that a loaf a bread cost 20 cents in 1970 and it is now $7, then I have failed before I even started. Costs are all relative to the now, not the then, and those who understand that will always be able to adapt and succeed. Scott did not invent this way of investing, but is basically reiterating what most other wealthy people have done. If you believe they don’t apply to the younger generation then you have already failed. The opportunities to succeed in this country are far, far greater than they ever have been. Stop listening to the gloom and doom of the media, take Scott’s advice, be patient and you will be financially secure. Scott’s ideas are so basic, simple and have been proven over and over. My words of wisdom: If you are chasing the quick dollar, you will lose your dollars quick.
@@jeffdavis8811 you're actually very ignorant, and although you think you're intelligent because you can write out simple minded concepts in a run-on/wordy way... you're still just simple minded. The fact is that NO, tuition has gone up exponentially way more than inflation, as have the cost of housing. Basically your entire diatribe essay can be summarized in one word: inflation. And my response: no, you're fundamentally wrong.
@@jeffdavis8811 ...agree with you. I remember when I was in my late 20s asking a coworker who was late 50s about his first home purchase. It cost something in the $20,000-30,000 range back in the late 1960s in Southern California. I asked so what % was the mortgage of your monthly salary? So even though to my ears it sounded very cheap, it was still 35-40% of his pay.
@@jeffdavis8811 I wonder why my reply to you keeps getting deleted? 🤔 I'll just sum it up: your response is basically an essay of complete ignorance. But let me help you out: instead of writing a word salad, try to be concise because it'll make you sound smarter.
I'll sum up your reply for you and give you a brief response. Your argument: *INFLATION* ‼️‼️‼️ My response: *NO, it has very little to do with inflation and a lot more to do with price gouging, decades of de-regulation, and a tax system that overburdens the middle & working classes.* House prices have been exponentially (and artificially) inflated due to private corporations buying millions of homes across the country and we have a lack of new and affordable homes being built, hence an unprecedented housing crisis that has had a severe impact on rents across the country. So please, keep the simple-minded arguments to a minimum of 120 characters next time. 👍
@@jeffdavis8811 I'll just sum it up @jeffdavis8811 response: an essay of complete ignorance. My advice, instead of writing a word salad, try to be concise because it'll make you sound smarter.
Here's a concise summary of your argument, and then give you a brief response to it. Your argument: *INFLATION* ‼️‼️‼️ My response: *NO, it has very little to do with inflation and a lot more to do with price gouging, decades of de-regulation, and a tax system that overburdens the middle & working classes.* House prices have been exponentially (and artificially) inflated due to private corporations buying millions of homes across the country and we have a lack of new and affordable homes being built, hence an unprecedented housing crisis that has had a severe impact on rents across the country. So please, keep the simple-minded arguments to a minimum of 120 characters next time. 👍
❤
SPY is not low cost lol. I pay 1/3 of that expense ratio.
You can't out-save currency debasement.
Totally not true.
Not their fault because they weren't taught?? How about was their fault because they didn't seek it out.
Well the debasement/inflation of fiat money Vs your snp500 isn't much different 😅, find alpha outperform everything 😊
Ericka people did not invest there money properly
The people who are working at 60 and 70 did not invest
Have to now while the interest is high have to chase the 5.0 % Rates and even higher at 5.25% I just got in CD .
I even put into annuity 5.45 % for 4 years
The high rates are not going to be around to much longer
Scott dude, i liked and appreciated your opinions and insights but dude, Jesus Christ is not a filler cuss word, to me and maybe some listeners in Erika’s audience, He is The Son of God, their Savior. Please be mindful and respectful and disciplined and gracious and generous as you said… same goes for if you used Muhammed or Buddha in such a manner. 🙏🏽 thx.
You can't expect others to speak how you prefer them to.
So it’s a bad idea to be all in on alts right now?😂😂
What did his son do?
Women investors are like women golfers. The dudes hit as hard as they can and end up in the trees, in the water, over the clubhouse. The women just take their time and put it down the fairway. Not as far but right down the center.
money, money, money.
this guy lives for being among the 1%
is that what life is for?
Remember, it's cheaper to keep her!😂
Sometimes "her" don't want to be kept...and leaves on her own 🤣
Hello Erika, I sent you an email
Step 1:
Figure out what the government will subsidize ( it’s Wall Street )
Step 2:
Divert some of your labor units to wall street
Well. NO. The system is FREE ENTERPRIZE, not Consumer Capitalism. That is a stagnant pond
yes everyone has a freaking podcast and polluting the "internet" so decades from now there will be no plumbers or electricians.. I like all these people acting like helping world. Take away monetization and see how all these "wonderful" people still post..
I watched Scott's Ted Talk. 🤢🤢🤢🤮🤮🤮. I think I'm doing myself a favor by not listening to anymore of what he says.
When you feature a guest remember that is who we came to hear from. So intro the guest and present the guest. We did not come to hear you.
TOOO EARLY TO BE TRUE-
Dude. That bothered me, so “guys” can have a plan, but not women. 😡 other things are attractive with women?? Here is where the problem is. Then women don’t, largely, think about building their own security. Not cool. No one will come and save us, each individual must seek their own security.
I think your ears closed when he said women find men with a plan attractive 😆 he also brought up that it's mostly women are financially focused and educated than men at an early age and own more homes than men. I much rather being with someone who is planning on doing what he needs to do to achieve his goals instead of an aloof drifter. As one once said "Men are the head but women are the neck, guiding the head."
So many gold nuggets in this interview. You got a lot out of him. Mins 50-57 are great.
Erika frickin great questions.
This guy is real. Could listen to him all day. Don’t you think parents should match their kids savings in Retirement at age 20-25. Might cost a parent a little. I wish I put 10k a year into a retirement at that age.
@scottgalloway
Love the tennis analogy. And the humility thought.
This guy says a lot of "truthy" things but is painfully unlikable
Men buy cars and women prefer houses.
"assuming the S&P returns the same as the last 50 years..." I swear these boomers are so f-ing clueless. This guy is trying to be a poor mans Jordan Peterson....and he is failing miserably.
So your plan is to not invest? Either invest in S&P and have a chance or don't invest anything at all and have zero chance.
@@cur244 It's a bit of a harsh comment by @brentlorrilliere6057, but there is some truth in it. Professor Scott Cederburg has done some great research on how to mitigate the risks of one particular market being in a bubble.
He's way cooler than Jordan P.
@@cur244pretty sure that’s his plan…