Also being in the right place at the right time is important. I was there once then lost it. Since then I seem to always be on the outside looking in; just can't seem to have money to invest during opportune times.
Hard work doesnt make money therefore the owners of com panies hire less emlpoíyees or they decide to fire few emlpoyees to save money because they say prodution of the products is too high, we are gpoing to fire several people. but the ordinary workers work harder for the same money....because the several emploees were fired from work.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.Making money is not the same as keeping it there is a reason why investments aren't well taught in schools, the examples you gave are well stationed, the market crisis gave me my first millions, people shy away from hard times, I embrace them.. well at least my advisor does lol.
Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor.
I stopped trying to predict market outcomes based on chart studying after 5 years of uncertainty. Not having a mentor caused me 5 years of pain. I learned to follow the market's direction and keep it simple with discipline and of course follow my fin advisor guidance
Annette Christine Conte is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Key points to be taken From this podcast are : 1. When you are young, dont waste your time in laziness , be active, try to move to a big city, have credentials . 2. Never be ashamed to ask for advice from people . 3. Every job is respectful 4 Diversify YOUR investment 5 Dont Go all in in any investment especially if YOU are old 6 Go out and make connections and meaningful friends and relationships 7. and lastly LUCK...........
Thanks for that. I don't havevthe time to listen to all of it. As a 60 year old, who did 100+ hours in her 20s, I'd say he is right. Every job is service to others. I've been a warehouse worker and a van driver, both jobs that help society function, that's always a good thing.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.
I appreciate you sharing this. When I looked up the woman you named and read through her credentials, it was obvious that she was a complete professional. I just need her to respond to the message I wrote her.
Don't fall for the mainstream advice on how to make money. The best investment is in yourself-through knowledge. Books are the way to learn the most. The Hidden Truths Of Wealth by Oliver Mercer helped me launch my first business and rise above 90% of others.
@hooddvogue Considering having wrote 'Don't fall for the mainstream advice on how to make money,' this person would not count it as 'mainstream advice.' 😂
I agree. I’m 31 and only a financial hobbyist and this guy legit just sounds like a grandpa who’s made it and trying to have you learn the lessons he learned the hard way so you don’t have you.
@@DavidLinn Generally, we all need to learn it the hard way becase even though somebody else has learned it the hard way, it's still the best personal lesson. You learn much better by your own failures in life, not by watching someone elses failures.
This guy has literally blown me away in terms of his willingness to expose easy ways to get rich and avoid tax. This 90-minute podcast is better than a 3yr degree!!
You were spot on with your comment describing a 90 min podcast into a few sentences… except for that last sentence.. people do it ALL the time on YT I don’t know how people can be such “ignoramus retardus” (Latin term for the developmentally disabled) Anyone with Degrees in Finance, ex; Tax Law puts them directly ON TOP of the other 5 million who watched this When TH-cam corporate finance dept announces they’re hiring a new partner to head their team of corporate tax strategists, benefits: six figure salary, paid vacay, healthcare, annual bonus pay performance related, stock options.. etc Applicants MUST have Degree and background in Finance from accredited western university (sorry the University of TH-cam just doesn’t cut it) and Scott Gallow would agree.
@@jroche1832 You are very uneducated about inflation rate and statistics of the people you met. Where do you get the number 12%? "Just work it out, it's not hard". My friend, you should run that number by yourself to prove your point, don't put that burden on other people. I ran my number and it's no where near that 12% you mentioned (calculating food, traveling cost, electrical devices, ...). You don't understand the compound of interest. You want big things, and you want it now. Sound like a disaster as you're not rich (and probably not going be rich by any time soon).
@@RuthBeyond50 unfortunately there’s also plenty of ivory tower left in his declarations as well. Especially when he talks about credentials (gotta keep those subsidies for useless universities flowing his way).
Utterly disgusting that middle class “earners” like me are taxed to death yet the very people who can afford to pay the most tax actually pay the least. It stinks!
I can listen to Scott Galloway all day - I went to UCLA and grew up in a pretty low income household (father was a mechanic and mom was a receptionist) and didn’t know anything about money, and saw the vulnerabilities of people who prioritize money and make money their life, so I accepted becoming a teacher to at least have a purpose. Now being older I realize see how capable and possible it is to grow money Thanks Mr Galloway!
Thank you for sharing your story! 🙏 It's inspiring to hear how you've navigated your journey and found purpose. Scott Galloway's insights are indeed invaluable for understanding the potential we all have to grow financially, regardless of our starting point. If you're interested in learning more about taxes and finance, you might find my TH-cam channel helpful.
What a difference now vs then. Growing up in the 50s my parents were both kicked in the head (PTSD) by the war. No money, no role models for me (my dad was out of it forever), plus they married across classes. So I had no class roots (this in UK) nor did I resonate with the class around me; to add to this my dad (for his own sanity) moved into a social desert; lots of houses with no-one active / no kids. So no friends for me age 11 - 18. The world was not big and full of opportunity, but closed, cold, isolating and bare. My mother, then I, had nervous breakdowns and we did not know why. This teaches me that location influences opportunity - as well as the people, their wisdom and kindnesses. Don't live in a desert, there is no-one there and no opportunity.
I started therapy at the age of 23 because of crippling panic attacks. My therapist would occasionally say “protect yourself financially”…..amongst other nuggets of wisdom. This stuck. I went from spending every cent I earned to becoming a property investor on an average wage. I spent a little, saved a lot. I still had holidays overseas and went on the occasional spending spree but it didn’t matter because I was saving so much. I had to retire at 51 due to an illness. I can’t imagine how stressful it would have been to have had to retire early and not have money. I had laser focus on saving and investing and I don’t regret any of it.
The conversation about storytelling being the distinguishing factor in success is so spot on. even working in a restaurant or fixing someone’s car: at the end of the day how the customer feels about the service and how they perceive it is the number one thing.
Thank you for identifying LUCK as a major factor in "success" Ie financial security . This is the real issue as most of the planet is working its backside off but hard work does not equal "success"
Theres is dignity and in all work! So true! And Grace! Everyone can’t be a CEO! And who will clean your studio if you look down on them for doing that! We need to treat every one with kindness and grace when they are doing a good job, whatever job that is! 🍀
He’s very blunt which is refreshing but leaves out a little of the truth. I believe when he refers to “luck,” it’s the factors a person can’t change: Being born to the right (affluent) family, race, gender, not growing up in poverty, access to the top education, receiving money in a will etc. So much wealth accumulation is based on “luck.”
Luck can be supplemented by being prepared for opportunity though, just because you can't change some of these circumstances it's going to be a difficult challenge but unless we're ready to make those sacrifices we will never make it to where we want to be.
Thank you for this one. As someone who made millions and their 20s lost it all when I turned 30, and now 31 on my journey to reclaim life’s treasure. This podcast sparked ambition and determination to continue forward, no matter how treacherous the obstacles can be . Again, thank you for this Podcast.
I’ve followed Scott through multiple platforms. He is never shy about how lucky he’s been and how fortunate his situations have been. He’s one of the few people saying that the elderly need to plant trees that they won’t feel the shade of. That’s the only reason I still listen to him. Otherwise he can be a pretty big prick.
Same. There have been many times I literally applauded something he said because it was so dead-on. There have been at least as many times I cringed at his douchey tone-deafness.
Agreed. Saying he needs $3,000,000 per year to fund his lifestyle is all kinds of gross . I'm not so much envious as in despair that he's seen as a role model for sound life advice.
@@thefinster You say agreed...then you expound on how you disagree. This guy has paid an exponential of tax more than you are likely to make in your life. He gives money to causes and people he believes in. He is generous in sharing solid, relevant advice for living a productive and fulfilling life. And he's quite open in saying his life is one of luck, privilege and damn hard work and persistence (encouraging others to capitalize on what they have and what they are good at). He's also not a snob - he believes in and works for opportunities for unremarkable people to be millionaires. You may call that gross. Go live your best life and show us how it's done.
Funny, I said that I didn’t care for his personality but he is pretty dead on with his advice and observations. Would I want to hangout with him at a bbq? No.
Really liked Scott Galloway and would love to hear from a woman that worked with alot of woman that had practical and honest tips like Scott. Great job.
Try Chelsea Fagan of The Financial Diet. She turned her life around from credit card debt to star and producer of a female focused financial advice channel.
In Australia we're getting to the point where we cannot afford all the groceries we need for a balanced, healthy diet. Wages wont be on par until 2028, apparently. Utilities have escalated. House prices gone to the moon, no rentals....tent cities popping up in local parks. Takes three working people to buy a property. Generational living is being practised for survival. Seriously not good here. Not many have even a few dollars for investing, many behind in their mortgages, rent and credit card payments.
Yep. This is the fallout of the neoliberal economic construct. Constantly increasing lending against speculative assets (ie housing) that were increasing in price due to the proceeding excessive bank lending into mortgages. Capital allocation has proved to be a failure when left to the unfettered instincts of bankers in this case. As for the supply side, this too has been gamed to death with land bankers drip feeding the market for maximum profit. Capitalism does not serve the people if it is not somewhat regulated or there is lots of real competition, which there isn't.
After listening to Scott's suggestion to talk to people, everybody, I got chatting to a woman at the outside gym. I told her I'd been doing online qi gong teacher's training and am tossing up whether to give it up. Upshot is, she is coming to a class I'll give tomorrow morning, at the outside gym. I met another person there this morning and invited him, so tomorrow I shall have 2 students! This is giving me much needed motivation to do my practice and study. Not only that, I feel unburdened! Thank you Scott, for expressing this small yet significant action.
@@notagain1952I for one felt my attention span increase watching these interviews rather than endlessly scrolling regurgitated content on social media.
Agree I am addicted to every episode this is my education to current affairs .....Steve has a gift for interviews to bring out the best information in layman's terms and current topics in an easy straightforward concept. I'm never bored always engaged as{ he listens very skilled in this}asks relevent questions and if he does contribute its a story relating to topic. A very clever interviewer he and podcasts has taught me so much. Please Steve {and your team} be brave keep interviewing everything we need to be aware of as we all know knowledge is Powerful and we need you to help us all understand. You have a platform so I beg you to stay true to us all. Much respect . In awe but don't ever push yourself or team to be stressed take your time no rush, I would wait every week /month to listen and watch to every special episode. Appreciate the work this takes . Thankyou so much xx Trudy
Besides the fact that you could also listen to this outdoors without a screen, this informative, educational program certainly won't claim the tag "wonderful" for itself.
my investments and the pay-off happened inside my home on a screen, and this guy advises people to invest, so it's still true because getting rich is not truly really wonderful in the same way human relationships are, especially when you accept that your existence is finite
Change the tax code, but that would take an act of congress, which is fully corrupted by these ultra rich. True, the game is rigged, so learn the rules of the game and join the fun.
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
Scott gets it, no one likes to hear 100% honesty. His perspective on growing up low income and the “ghost” that follows you is unparalleled. People, and especially men, truly listen to him and allow it to resonate. That ghost will continue to follow you until you do something about it. The last thing you want to do or should be doing is worrying what others will think of you, life is finite. You deserve to have your happiness and free of financial worries. Remedying that situation will change your life and everyone around you! Do what you know you have to do now. Even if that requires you to take a step back for awhile to truly level up. Be humble enough and realize the only reason you haven’t is because of how others will perceive you…which is nothing to worry about in the grand scheme of things. Thank you Steven for bringing Scott back to your platform 👏
Scott Galloway’s insights really hit home for me. It’s frustrating to see how wealth transfer policies favor older generations while young people like us struggle with housing and student debt. His point about the myth of hard work alone building wealth resonates deeply-it’s clear we need more strategic focus and financial literacy. But beyond the economics, we need to address the mental health impact and social disparities that tech and social media amplify. Are we really doing enough to create a supportive environment for our generation?
@@The_Love_Doctor_Sean Dismissive attitudes like yours ignore the real challenges young people face today. Rising housing costs, crippling student debt, and mental health struggles aren’t ‘crying,’ they’re facts. Educate yourself.
@@The_Love_Doctor_Sean I respect your view on personal choices, but how do individual choices solve systemic issues like skyrocketing housing costs, crippling student debt, and widespread mental health struggles? These are driven by broader economic and policy factors beyond our control. Can we really ignore these realities?
I am that “ one out of five” who started a 403B at age 38 and now in retirement am quite comfortable because of my methods. Most of my other retired coworkers are doing fine, but still watch pennies. Some are bad at managing $$ and it shows. I scrimped and saved all I could while working a total of 42 years, paid off my home, am still driving a 22 yo old car. I learned from my parents who lived without being in debt and my ex husband who was a finance - guy. Never had children, but would have loved to if it had worked out so…that’s also a huge $ saver.
You do know that you aren't taking that money with you when you pass away, right? Nor do you have any kids to pass that wealth onto either... So... Congrats?
In my mid 50's,I had been working 3 years in the mines of North Queensland,returned to New Zealand,it took almost a year to get a good job,spent most of it on minimum wage jobs.Out of the blue I landed a processing job in a dairy plant, earning nearly 6 figures the first year.Invested over 50% of my income each week,have done very well.Now 66 ,but will work until end of 2025.Have taken a easy basic job now for 40 hours a week.You can build good investment fund for your self on blue collar work.
Love this convo with Scott. I like his no bull sh*t type of advice. The direct, tangible, and practical approach to life and finances is refreshing. So many valid and actionable tips to embrace and act upon. Thanks!
This podcast is actually unbelievable. I love the questions, in dept dialogue, calming british accent, diary questions and answers as well as little things like the cold plunge and sand bucket.
Agility with geography was our secret sauce. Met my husband overseas who was on the same path. Pooled resources. Invested and diversified. Mid 50s now and reached our 'number' AND still happy together.
That's what both men left unsaid in the discussion about the Power of Marriage. The key is to find someone on the same path, with the same financial mindset. If anyone is worried about divorce, know that the #1 reason is financial disagreement and difficulty. Finding your person is as much about a financial match as any other kind.
Scott is truly something. He looks shocked by the tub of sand analogy, refuses to acknowledge it as a analogy of compound interest, instead says it’s more of a lesson in story telling 😂😂😂😂😂😂😂😂….dude is mad great and very American 🇺🇸
Recently, I've been pondering retirement. I've also want to put $300K into the stock market but i need an approach that will align with my risk tolerance and financial goals to secure our future..
Thank you for the tip. It was easy to find your coach. I did my due diligence before scheduling a phone call with him, and he seems highly proficient based on his résumé.
Learn about dividend growth stocks and closed end funds. which will allow you to make money from dividend passively regardless if the market goes up or down. Your basically creating an annuity from investments and using the dividends as income while never selling the underlying shares.
You maybe OK till November, but remember it took from 1929 till 1956 for the stock market to recover. Too much money printing; it's a house of cards. So is property at these prices. Commodities and Crypto are the value markets. Silver stocks also.
@@MatthewEGolden he speaks a lot of sense. I was born in the late 70's and I am shocked at how entitled, ignorant and work shy people who say things like the one you just did are.
@@MatthewEGolden have you seen his latest TED talk? He shows a lot of good data and puts forward some good initiatives to support younger generations. He calls for academic institutions who have billions in investments to lose their charitable status as they are more like investment funds who run training on the side. He advocates for some very good ways to redistribute wealth. Worth a look.
@@MatthewEGoldenI don’t understand your issue with his honesty. He admitted he was lucky and privileged which isn’t the case for 99% of us now in the newer generations.
One of the best podcasts I've ever heard. Priceless advice for people of all ages. So many things I wish I'd known in my early 20s but am still willing to learn in my 40s.
My take home: - Find what you’re talented at, as early as possible, and be great(or at least be good) at it. - Start making money early. Start from somewhere but be focused and have a plan. - Start investing early, and as you grow and become more liquid, DIVERSIFY! - The end goal of good wealth is to be able to enjoy it with great relationships, so start investing early in your relationships. Be a good person!
As a 39 year old male living outside the Seattle, WA area with a kid and wife, it's difficult to live here. It's expensive, and the housing market is fucking terrible with an average of 650k or more per house. I don't want a 3500-4k monthly house payment, fuck that. All I've been doing over the last 2 years now is listening to finance podcasts, how the money system works, etc etc. Keep up the good work my guy!
Going to be blunt. Hustle harder or get out, you might not be cut out for that grind (and that's ok). You are in one of the best cities to make money. If you want to stay you need to figure out where your intersection is with tech and natural skills. Take Scott's advice to heart, he's right.
I'm so glad to see Prof. G. on DOAC! I was recently thinking that he'd be an AWESOME guest...and now I'm watching him 😮🫨🤯 Thank you SB and Team for bringing Scott on board. 🙏👏
The small consolation is that people that have lived other times are affirming that there may actually be a reason it feels like from a 29 year olds perspective that we do live in a pretty miserable time socially and economically
Great strategy for people with money looking to diversify their investments. I know someone who has done this in the pricy Bay Area. She has great cash flow on a home she bought 20 years ago and is breaking even on a property she bought three years ago having put 1/3 down. Ten years from now she will cash flow better and her equity will be through the roof. She did the same for out-of-state properties.
This year I want to use earning calls to help with my strategy on companies I want to invest in. However, I don't understand them. I am always lost and have no clue what they are discussing I lose interest after 20-30 minutes and not gaining much insight. What things should I be looking to get out of an earnings call to help me invest in a specific company or real estate?
Experts say it makes sense to hire a financial advisor in the following circumstances: You don't have the time or inclination to manage your finances. You experience a major life event, such as a marriage, divorce, loss of a spouse, birth of a child, relocation or change in your employment status and for full profit uderstanding because that is the purpose of investing at the first place .
In my opinion focus on two key objectives. Learn when to sell stocks to minimize losses and maximize gains to start protecting yourself. Second, prepare to make money when the market turns around. I advise speaking with a broker or financial counselor will be much better .
Cynthia Alexandra Depken is the licensed fiduciary I use for guidance . I do not think self-investing worth is worth it from my experence . Some may have no account minimums and charge annual management fees of less than 0.5% per amount managed. Self-directed investment accounts have the lowest fees and give you the most freedom, but the risks are higher. A safer choice is to hire a financial advisor and let them guide your investment strategy.
Financial advisors can play a crucial role in helping individuals employ dividend investing in their portfolio . These professionals have the knowledge and expertise to analyze a client 's financial goals , risk tolerance , and investment timeline to determine the most suitable dividend stocks for their portfolio
You're only as good as the decisions you make today with the money you have. As a single mom, this time last year I considered investing without much knowledge and decided to have a consultation with a fiduciary, and it was incredibly insightful. One year and a couple of months in, and I'm debt free. I truly cannot stress enough how helpful experts in this field are!
It’s not rocket science. As I said previously, I got into ETFs, index funds, REITs myself but wasn't getting the results I wanted the first couple of months. Got tired of taking losses and decided to seek mentorship from Jonas Herman, a certified fiduciary who helps oversee my investments in ways that have made me good roi. Now I sit back and reinvest at intervals while I focus on my 9-5.
Sounds like I need help so bad. To me, investing is not worth it and I know that's the same mindset holding me back from taking a step forward in my finance. I guess I'm just scared since I'm green to it.
I am now 60 years old and although my financial situation is very good, I am at a stage in life when this money is not of much use to me. I actually needed this money when I was 25, so my advice to young people is to enjoy life and don't think too much about the future.
@@kupewataaka6917 I understand perfectly, I had the same experience. As time passed, I had more and more money, but less and less opportunity to use it.
Goodness, I love this channel and Scott too. 60 year old lifelong, dismally sucessful, entrepreneur and author here. Atheism - the embrace of self responsibility, has made me face each of my foibles as personally mine.
What he doesnt talk about is guilt from success. I work maybe 3 hrs a week in my business. Profit about $440K a year. The guilt comes from seeing ppl around you suffer and you thrive financially. Not always all sunshine and rainbows. Thats why its so important to give back to your community
One of the ways to give back is to pay taxes. It literally hurt me when they were talking and laughing at how good the 1 % is in avoiding taxes. If they paid their fair share maybe we would have had better healthcare and people didn’t die. Maybe mothers would’ve had free or reduced cost childcare so they are not kicked back to work when their baby is 6 WEEKS old. For 10 hours a day. Just to some rich folks can spend 3 mill a year.
@msmaluu knowing what I know now, I would rather directly help people in a systematic way than pay more taxes if I can avoid it. I don't trust the government to use my taxes well. We see this everyday.
While I agree with the principle, I recall my older brother who said “I’ve been rich and I’ve been poor, and I’d rather be rich”. This is not about building wealth, but being poor is debilitating. Don’t be poor.
Great advice, just one thing I would disagree with. At one point Scott talks about being wealthy frees you from anxiety. I think anxiety is almost a personality trait. If you are a worrier and you get rich, you worry about different things …I know this is an opinion and only reflects my experience.
Being poor is not optimal either. I have a good balance between God, family and income but working less and making more has made my life better. This morning I will wake my sons up and read a chapter from the Bible with them and talk about it, then we will do an online college class on economics, and after that we will exercise for 30 mins. The men of the family start our day that way. When my income improved I was able to volunteer more and be a better father and husband.
"In my thirties my number was 10 million and than things got so expensive". Just to give you guys some perspective, this was around 1998. This dude is telling people here that 10 million was not enough in 1998 for him. Good luck to all young people in 2024.
Well, he mentions "greed glands," so he's probably referring to lifestyle creep and his own ambition. His business and lifestyle costs increased, and he also simply wanted more, so he increased his own number.
@TheDetroitblack because what you want now literally can't be the same as what you want most, otherwise what you want most is worthless and takes no effort to obtain and your cry about it after
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional.
I know Laura, she has really set the standard for others to follow, we love her here in the UK as she has been really helpful and changed lots of lives.
I'm about as close to a security guard at a parking lot as you are going to get. Man was right that there is very little stress, unless of course the tweekers come out of the woodwork. However, the time I am afforded to pursue other opportunities at work has given me the ability to become educated about the stock market, real estate, and finance to the point that, while my current job makes half what my last job did (1/3 when I started), I am breaking the generational poverty in my family after just a few years of sitting at a desk, but grinding away like you wouldn't believe.
Thank you for asking these very intelligent people to explain things to you as if you were a child even though I would say you are quite intelligent yourself. This allows me to comprehend somewhat technical jargon full terminologies and concepts in a simple way. This sets you apart from other podcasters and makes the 1h49min worth every second.
This video really got me thinking about the best way to secure my financial future. With $340k saved up, I want to make a smart move that ensures stability and growth. Given the economic uncertainties and the points Scott Galloway raised about traditional paths to wealth, what would be the best investment strategy right now?
Great question! It's so important to be strategic with your savings, especially in these times. Have you considered diversifying your investments? A mix of stocks, bonds, and real estate could provide both growth and security.
I agree with diversifying. Also, seeking advice from a professional might be a good idea. They can tailor a plan to your specific needs and goals. Have you ever worked with a financial advisor?
I get having money to not have to work into your sunset years, BUT happiness is a perception. Not everyone needs a ton off things, nor money to be happy. I just want what I need to live a good healthy life. I don’t need to travel the world etc. peace to me is less.
Absolutely. He said it himself, he wanted $3,000,000 a year income without being dependent on salary. Different people have different target numbers. If I had $3,000,000 total, both myself and my husband would never have to work another day in our lives. £50,000/$65,000 per year would give us both a very comfortable lifestyle. You can live a happy and modest lifestyle if you're a happy and modest person.
He’s a typical tech/finance bro from NYC and they’re all focused on money- he seems intelligent but egotistical and probably difficult guy to live with… just my two cents worth
@@DraggonnyWhich exactly problém of todays world. Where most people would be ok working And just have roof over their heads, food on the tablet And be healthie. But its just isnt working anymore.
@@jakubpelikan2393 Yep. Because to have a multi-millionaire at the top there has to be exploited workers experiencing wage theft at the bottom. You don't get rich by working, you get rich by not paying your workers or your taxes fairly.
Scott is right about a lot of things. The one blind spot he has is he believes just because people are nice to him at dinner parties that they're actually good people (he'll talk about going out to dinner with Candace Owens, for example, and remark on how nice she is as if that absolves her of all the damage she's doing to young people's minds online). The rich aren't bad because they're rich, but rich people can be bad for society, and you should judge them based on their actions and how said actions affect society. The rich aren't Montgomery Burns polluting the rivers? Not all of them are...but it IS some rich company owner deciding to get around regulations who's polluting the river, Scott.
Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich, HOW? and u want the generation to be happy???
I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts with experience since the 08' crash
You're right, I and a few Neighbors in Bel Air Area work with an advisor who prefers we DCA across other prospective sectors. Instead of a lump sum purchase, Following this, my portfolio grew 40% in the last quarter.
i'm blown away! mind sharing more info please? i am a young adult living in Miami where i've encountered several millionaires, and my goal is to become one as well
I'm cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "LUCIA ALICIA CRUZ" I've worked with her for years and highly recommend her. Check if she meets your criteria.
Luck occurs when preparation and opportunity intersect. The issue is that people often fail to prepare for opportunities. That's why he said by moving to a big city you increase the opportunity to get lucky. When you seize opportunities by making sure you are present in the room, sitting at the table, attending networking meetings, connecting with the right people and learning how to leverage the next thing, you become a very lucky person.
On the topic of following passions. I finished business school and worked in marketing for 2 years although I always wanted to be a realism artist. I quit and went for it because I was 24 and saved some money from the 2 years to give it a shot. I gave it everything I got and now if I make as much as the owner of the company I worked for back in the day, I get disappointed because usually I do better than that. Passions cause you to train, which causes you to have rare levels of skill that people cant find anywhere else. I struggle to see how I would be unique in the field of marketing, as much as I am in painting. For this reason, passion following seems financially wise to me
I normally never listen to podcasts longer than 5 minutes, but I'm listening for a long time already. I like how he speaks and the way he tells his truth. He seems like someone I would actually talk to and listen what he says and I rarely even do that. I did that in my early 20s but turning 30 soon, I stopped listening to others. Thank you for this episode.
I listened to half of this b4 I was turned off. Make money your God is what I heard in-between the lines. Definitely want to provide for my family but not at the expense of my Soul. Just my 2 cents.
@@pyromanaic21They invest everything,no cash ,claim as much as they can as company expenses . Robert K. ownes a lot,but he has almost a billion debt.
I've honestly seen passed this Illusion of Hard Work building wealth long ago. Also recognize the sudden changes of rules to where, it's not about hard works, it's about how much worth not being replaced. Just call it out as it is already, everyone knows this is merely a slave based system with a rigid and solid Hiarchy only those could be born into at the top regardless in lack of compitance. It does not matter that you're a pragmatist, hopeful visionary, or an intellectual of any type within the inpoverished class, you're just seen as nothing more than mere lions cubs for the ruling elite to iradicate for the purpose of preventing any form of competition to pop up. (Because it does not work that way.) Ruling Class elites are born into their ranks regardless of their lack of knowledge. Nicola Tesla is an example that anyone born into poverty with a high level of intelligence and determination are only destined to Madness, until they are freed from the slave based system every modern day serf and peasant were born in.
I will never forget when I had my first job during study time. My cousin brought me in and I was obviously young, fast and wellversed ( due to my active learning) and within 6 months my pay was raised two times. The manager always talked to me and made sure I enjoy my time. When my aunt had her birthday we talked about our salary and I was about 40% above my cousin. She had been working there for 7 years at that time. Afterwards the mood went south in the company. Everyone started discussing their salaries and many co workers left because the manager didn´t meet their new wage expectation. It will take a lot of time until "talking about money" will be easy.
@@hokedo I think the main reason was the potential. I was 17 and still studying. So they had the chance to raise me into a young area manager. Second guess would be my naive nature. Being young means you know little about adults schemings. I rarely said "no" and usually did more than what I was asked to do.
So not true. They are invariably avaricious selfish narcissistic and aloof. It's a trait that perpetuates class divide that they find comfort in to make themselves feel better. .
When he said he'd give his son 3 years to become successful being a musician (or any independent creative) then don't even bother. It's probably 7 - 10 years doing it every day and even then it's not 100% guaranteed. Definitely not recommended unless you're serious about it.
Only thing that is outdated advice already is the cost of living. The majority of peers I know that move to those economic powerhouse cities get kicked out just as fast because affordable rents and housing no longer exist. Which ironically, Scott Galloway himself has covered that because the markets haven't fallen it is impossible for younger people to do anything with the little money and resources that they have. The problem is like Scott said, it's not about younger people being afraid to take risks. It's that they can't take risks because of the economics. Only other part that sucks for the younger generation is that we've made so many places focused on privacy and isolation for those older generations and their groups have some cost of entry that there aren't any public or affordable places for a young person to hang out and meet people to make friends.
This has been undoubtedly the best interview I have seen this year and that says a lot! The conversation is genuine, deep and interesting. Gotta love Scott!
well there’s near zero jobs in southern Italy that pay even 55k EUR due to decades of government corruption, over-regulation, general lack of industry, etc.
Yea, but after that you would want something else,like 100k and some beach house or who knows, we are never satisfied with what we have in the moment. Sometimes,I believe that we have to be more happy with the little…others doesn’t have even the little…
So many gems in this. It shows in life that any problem can be solved like a puzzle. So many logical lessons, you just need to think and reflect on everything, learn your lessons and act. Be logical
What this implies is that when we listen to people explaining their rules for success, we need to mentally consider geography, generational differences, unspoken advantages etc. in order to apply those to your situation. Applying American rules to European life may lead to plenty of failure
People fail to remember that with the first and second Industrial Revolutions came far more opportunity and ability than had ever existed. Capitalism has raised more out of poverty and into wealth than has ever happened. But it still requires some effort and self discipline. He is so right that having kids too early makes it really tough. But having them at some point makes life worthwhile.
Worthwhile for whom? Why do so few people appreciate that a new life with his/her own consciousness, feelings, experiences, and emotions is being created in order to appease someone else's life" fulfillment"? So very few people stop and think about the life being created rather than their own personal selfish wants and desires.
Sure but now the gap is narrowing dramatically; late-stage, unchecked capitalism leads to our current economic climate, where there are billionaires galore reaping in profits, and most of the population can barely afford their bills and food. People want to work, but every business owner on the planet seeks to maximize profits, dodge taxes, and disenfranchise the working class by automating the means of production. Capitalism only works if the workers control the means of production.
You don't live in capitalism. Capitalism would have allowed the banks to fail in 2008. Instead, Obama intervened and gave them a bailout of taxpayer money. That is not capitalism. Every gramt gifted and intervemtion by authority dilutes the power of true capitalism
@@user-hm4qn7wt3t you are hugely ignorant of economics but then many of you are. When you express yourself in ignorance people like me acknowledge not only are you irrelevant to life but you don’t even know that. I suppose there has to be the people I throw in front of me who’s things go wrong
The importance of being rich in America explains a lot about the country. I live in Europe with a slightly above average income and have no financial anxieties. Things could go wrong, but they could not go wrong as terribly as they could in the US. I will probably watch the rest of this podcast, but I don't need the book.
In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like Iynne Marie Stella who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look her up and send her a message. You've truly motivated me. God's blessings on you.
Great theme. I grew up being incisively told that talking about money was absolutely rude and crass. Also, don't take risks: better the devil you know...
If you like this episode please can you do me a little favour and hit the like button on the video - helps us a lot! I really appreciate you all x ❤👊🏾
advice for someone starting out in their career BY SIMON COWEL th-cam.com/users/shortsmLM6jEH-wGk?feature=share
🎉🎉
Always ! don't stop being curious !
Scott's full of bs, do better!
@oas9174 how so?
That opening statement! "It's the boring stuff that makes you rich." So true.
Also being in the right place at the right time is important. I was there once then lost it. Since then I seem to always be on the outside looking in; just can't seem to have money to invest during opportune times.
I like to say 'There's Money in the Mundane'
@@deirdrielizzmore9714what place were you once in?
I needed to hear this RIGHT NOW. Sitting at work, struggling to focus on the boring stuff.
Hard work doesnt make money
therefore the owners of com panies hire less emlpoíyees or they decide to fire few emlpoyees to save money
because they say prodution of the products is too high, we are gpoing to fire several people.
but the ordinary workers work harder for the same money....because the several emploees were fired from work.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.Making money is not the same as keeping it there is a reason why investments aren't well taught in schools, the examples you gave are well stationed, the market crisis gave me my first millions, people shy away from hard times, I embrace them.. well at least my advisor does lol.
Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor.
I stopped trying to predict market outcomes based on chart studying after 5 years of uncertainty. Not having a mentor caused me 5 years of pain. I learned to follow the market's direction and keep it simple with discipline and of course follow my fin advisor guidance
Please pardon me, who guides you on the process of it all?
Annette Christine Conte is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Key points to be taken From this podcast are :
1. When you are young, dont waste your time in laziness , be active, try to move to a big city, have credentials .
2. Never be ashamed to ask for advice from people .
3. Every job is respectful
4 Diversify YOUR investment
5 Dont Go all in in any investment especially if YOU are old
6 Go out and make connections and meaningful friends and relationships
7. and lastly LUCK...........
very well said!
@@JoshuaIsiguzothere is also: try to save money as much as you can =)
Thanks for that. I don't havevthe time to listen to all of it. As a 60 year old, who did 100+ hours in her 20s, I'd say he is right. Every job is service to others. I've been a warehouse worker and a van driver, both jobs that help society function, that's always a good thing.
6th hits hard.
@@cccc6408 please share more.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.
that’s some interesting numbers, mind revealing this person guding you ? he/she must be a seasoned advisor
Vivian Jean Wilhelm is the licensed advisor I use. Just google the name. You’d find necessary details to work with and set up an appointment.
I appreciate you sharing this. When I looked up the woman you named and read through her credentials, it was obvious that she was a complete professional. I just need her to respond to the message I wrote her.
Don't fall for the mainstream advice on how to make money. The best investment is in yourself-through knowledge. Books are the way to learn the most. The Hidden Truths Of Wealth by Oliver Mercer helped me launch my first business and rise above 90% of others.
would this count as mainstream advice ?
@hooddvogue
Considering having wrote 'Don't fall for the mainstream advice on how to make money,' this person would not count it as 'mainstream advice.' 😂
Looks like we found Tai Lopez's burner TH-cam account!
Scott Galloway is one of my top three guests of yours. Please bring him back once a year.
Even better, bring back Scott and Kara Swisher!
Just once a year? Why not 3x a year?
Once a month ❤
Agreed! His message is authentic and hard hitting.
I've never heard so much sense spoken in such a straightforward manner in my life. What a person!
Ive been in financial markets for 40 years - listen to this person.
I agree. I’m 31 and only a financial hobbyist and this guy legit just sounds like a grandpa who’s made it and trying to have you learn the lessons he learned the hard way so you don’t have you.
@@DavidLinn Generally, we all need to learn it the hard way becase even though somebody else has learned it the hard way, it's still the best personal lesson. You learn much better by your own failures in life, not by watching someone elses failures.
This guy has literally blown me away in terms of his willingness to expose easy ways to get rich and avoid tax. This 90-minute podcast is better than a 3yr degree!!
You were spot on with your comment describing a 90 min podcast into a few sentences… except for that last sentence.. people do it ALL the time on YT I don’t know how people can be such “ignoramus retardus” (Latin term for the developmentally disabled)
Anyone with Degrees in Finance, ex; Tax Law puts them directly ON TOP of the other 5 million who watched this When TH-cam corporate finance dept announces they’re hiring a new partner to head their team of corporate tax strategists, benefits: six figure salary, paid vacay, healthcare, annual bonus pay performance related, stock options.. etc
Applicants MUST have Degree and background in Finance from accredited western university (sorry the University of TH-cam just doesn’t cut it) and Scott Gallow would agree.
AI is about to hard reset everything. Avoid boomer advice
@@jroche1832you sounds like a person not open minded and likes to complain a lot. And not rich 😂
@@jroche1832 You are very uneducated about inflation rate and statistics of the people you met. Where do you get the number 12%? "Just work it out, it's not hard". My friend, you should run that number by yourself to prove your point, don't put that burden on other people. I ran my number and it's no where near that 12% you mentioned (calculating food, traveling cost, electrical devices, ...). You don't understand the compound of interest. You want big things, and you want it now. Sound like a disaster as you're not rich (and probably not going be rich by any time soon).
@@HuyTran-zs2kk lol
Thank you technology. 100 years ago Scott would have mentor his children, maybe a few neighborhood kids. Now he's filling the gap for the masses
When my son is a little older I'm going to have him watch so many of these videos. There's such a wealth of knowledge on this page.
This is so great to hear! Thank you 🙏
Make sure he takes action. I've been reading finance books and watching vids since I was 18, I'm 31 now and wish I took more action on what I learned.
Exactly!
Glad I found his podcast.
@@cartapo2669well the bright side is you're only 31. Plenty of time to build wealth.
There are finance geeks and then there is Scott. He is the rare academic who can go from the tower to the street.
right on !
Well said.
@@RuthBeyond50 unfortunately there’s also plenty of ivory tower left in his declarations as well. Especially when he talks about credentials (gotta keep those subsidies for useless universities flowing his way).
'super tax avoider...' precipitated possibly the hardest & most genuine laughter I've ever seen on this podcast, ever.
Because they both do it
@@fractale4322 Yep
Utterly disgusting that middle class “earners” like me are taxed to death yet the very people who can afford to pay the most tax actually pay the least.
It stinks!
@@Archway_Archieit stinks until you get there
that was amazing 🤣
I can listen to Scott Galloway all day - I went to UCLA and grew up in a pretty low income household (father was a mechanic and mom was a receptionist) and didn’t know anything about money, and saw the vulnerabilities of people who prioritize money and make money their life, so I accepted becoming a teacher to at least have a purpose. Now being older I realize see how capable and possible it is to grow money
Thanks Mr Galloway!
Have you realised that in practice? How have you done it?
Thank you for sharing your story! 🙏 It's inspiring to hear how you've navigated your journey and found purpose. Scott Galloway's insights are indeed invaluable for understanding the potential we all have to grow financially, regardless of our starting point. If you're interested in learning more about taxes and finance, you might find my TH-cam channel helpful.
What a difference now vs then. Growing up in the 50s my parents were both kicked in the head (PTSD) by the war. No money, no role models for me (my dad was out of it forever), plus they married across classes. So I had no class roots (this in UK) nor did I resonate with the class around me; to add to this my dad (for his own sanity) moved into a social desert; lots of houses with no-one active / no kids. So no friends for me age 11 - 18. The world was not big and full of opportunity, but closed, cold, isolating and bare. My mother, then I, had nervous breakdowns and we did not know why.
This teaches me that location influences opportunity - as well as the people, their wisdom and kindnesses. Don't live in a desert, there is no-one there and no opportunity.
Hence why actors move to Hollywood, Investors move to London or NYC, etc. One needs to make the pilgrimage to their chosen Mecca.
"there is nothing in the desert, and no man needs nothing" -Lawrence of Arabia
Thats a good point!
I started therapy at the age of 23 because of crippling panic attacks. My therapist would occasionally say “protect yourself financially”…..amongst other nuggets of wisdom.
This stuck. I went from spending every cent I earned to becoming a property investor on an average wage.
I spent a little, saved a lot. I still had holidays overseas and went on the occasional spending spree but it didn’t matter because I was saving so much.
I had to retire at 51 due to an illness. I can’t imagine how stressful it would have been to have had to retire early and not have money. I had laser focus on saving and investing and I don’t regret any of it.
The conversation about storytelling being the distinguishing factor in success is so spot on. even working in a restaurant or fixing someone’s car: at the end of the day how the customer feels about the service and how they perceive it is the number one thing.
Thank you for identifying LUCK as a major factor in "success" Ie financial security . This is the real issue as most of the planet is working its backside off but hard work does not equal "success"
Timing and trend are your best friend. Ride those and you will be rich. Ride against them and you won’t.
@@hl236 Which would not be so bad if those two things were not so fickle.
Voila!
I do believe that "luck" is attractable though.
I think it's dangerous to say that luck is what most people need. Long term steady investments in the s and p can get almost anyone a good nest egg
Theres is dignity and in all work! So true! And Grace! Everyone can’t be a CEO! And who will clean your studio if you look down on them for doing that! We need to treat every one with kindness and grace when they are doing a good job, whatever job that is! 🍀
He’s very blunt which is refreshing but leaves out a little of the truth. I believe when he refers to “luck,” it’s the factors a person can’t change:
Being born to the right (affluent) family, race, gender, not growing up in poverty, access to the top education, receiving money in a will etc.
So much wealth accumulation is based on “luck.”
Well luck and tax avoidance
Thanks for saying it
Luck can be supplemented by being prepared for opportunity though, just because you can't change some of these circumstances it's going to be a difficult challenge but unless we're ready to make those sacrifices we will never make it to where we want to be.
Race bc of IQ and impulse control
@@uverpro3598oh hush I’d have you in shambles if you challenged my intelligence..
Thank you for this one.
As someone who made millions and their 20s lost it all when I turned 30, and now 31 on my journey to reclaim life’s treasure.
This podcast sparked ambition and determination to continue forward, no matter how treacherous the obstacles can be .
Again, thank you for this Podcast.
I’ve followed Scott through multiple platforms. He is never shy about how lucky he’s been and how fortunate his situations have been. He’s one of the few people saying that the elderly need to plant trees that they won’t feel the shade of. That’s the only reason I still listen to him. Otherwise he can be a pretty big prick.
Same. There have been many times I literally applauded something he said because it was so dead-on. There have been at least as many times I cringed at his douchey tone-deafness.
Agreed. Saying he needs $3,000,000 per year to fund his lifestyle is all kinds of gross . I'm not so much envious as in despair that he's seen as a role model for sound life advice.
@@thefinster You say agreed...then you expound on how you disagree. This guy has paid an exponential of tax more than you are likely to make in your life. He gives money to causes and people he believes in. He is generous in sharing solid, relevant advice for living a productive and fulfilling life. And he's quite open in saying his life is one of luck, privilege and damn hard work and persistence (encouraging others to capitalize on what they have and what they are good at). He's also not a snob - he believes in and works for opportunities for unremarkable people to be millionaires. You may call that gross. Go live your best life and show us how it's done.
Funny, I said that I didn’t care for his personality but he is pretty dead on with his advice and observations. Would I want to hangout with him at a bbq? No.
@@imkindofabigdeal4308 "unremarkable people". Got it.
Really liked Scott Galloway and would love to hear from a woman that worked with alot of woman that had practical and honest tips like Scott. Great job.
Try Chelsea Fagan of The Financial Diet. She turned her life around from credit card debt to star and producer of a female focused financial advice channel.
@@Draggonny Chelsea is really good.
Pauline Brown
In Australia we're getting to the point where we cannot afford all the groceries we need for a balanced, healthy diet. Wages wont be on par until 2028, apparently. Utilities have escalated. House prices gone to the moon, no rentals....tent cities popping up in local parks. Takes three working people to buy a property. Generational living is being practised for survival. Seriously not good here. Not many have even a few dollars for investing, many behind in their mortgages, rent and credit card payments.
Canada is exactly the same. Hard times for a lot of people.
This Interview probably won't resonate with everyone.
The middle class is the new poor class
Inflation has already produced extreme poverty
Go hunting in the outback and fishing on the shore, instead of the grocery store.
Yep. This is the fallout of the neoliberal economic construct. Constantly increasing lending against speculative assets (ie housing) that were increasing in price due to the proceeding excessive bank lending into mortgages. Capital allocation has proved to be a failure when left to the unfettered instincts of bankers in this case. As for the supply side, this too has been gamed to death with land bankers drip feeding the market for maximum profit. Capitalism does not serve the people if it is not somewhat regulated or there is lots of
real competition, which there isn't.
US same ....but, generational living is a slow acceptance. Too many people still believe the American Dream exists it actually died decades ago.
After listening to Scott's suggestion to talk to people, everybody, I got chatting to a woman at the outside gym. I told her I'd been doing online qi gong teacher's training and am tossing up whether to give it up. Upshot is, she is coming to a class I'll give tomorrow morning, at the outside gym. I met another person there this morning and invited him, so tomorrow I shall have 2 students! This is giving me much needed motivation to do my practice and study. Not only that, I feel unburdened! Thank you Scott, for expressing this small yet significant action.
Its not a podcast it was a life lesson. Scott is great and has so much knowledge.
THE DAIRY OF A CEO IS A VERY BALANCED PLATFORM FILLED WITH LIFE EXPERIENCES, business and health advice. Keep up the great work team DOAC🎉
i for one find my attention span and interest will not let me sit for a couple of hours listening to a conversation.
Dont sit. Listen while doing dishes, sweeping up, making coffee or tea, walking , making the bed....the time adds up while you listen @@notagain1952
@@notagain1952 and this is why you are destined to fail wish you all the best tho
@@notagain1952I for one felt my attention span increase watching these interviews rather than endlessly scrolling regurgitated content on social media.
Dairy 🐄 🥛 of a CEO
Mooooooo
This is the only show on TH-cam I watch from start to finish.
You mean listen from beginning to end?
I have the same.
@PeopleHealthTru No. I can say watch cause it has video with audio.
@@PeopleHealthTru She did not misspeak. You just want to be technically correct when she wasn't wrong at all.
Agree I am addicted to every episode this is my education to current affairs .....Steve has a gift for interviews to bring out the best information in layman's terms and current topics in an easy straightforward concept. I'm never bored always engaged as{ he listens very skilled in this}asks relevent questions and if he does contribute its a story relating to topic. A very clever interviewer he and podcasts has
taught me so much.
Please Steve {and your team} be brave keep interviewing everything we need to be aware of as we all know knowledge is Powerful and we need you to help us all understand.
You have a platform so I beg you to stay true to us all.
Much respect .
In awe but don't ever push yourself or team to be stressed take your time no rush, I would wait every week /month to listen and watch to
every special episode.
Appreciate the work this takes . Thankyou so much xx Trudy
“Nothing really wonderful is going to happen to you inside your home on a screen” ironically said on a podcast i’m watching inside on a screen 😂
Besides the fact that you could also listen to this outdoors without a screen, this informative, educational program certainly won't claim the tag "wonderful" for itself.
technically a lot of "wonderful" things can happen, but i get the underlying sentiment.
Was hit head on by drunk driver broken neck. much time to be inside
@@user-zz1dt1ne6lhope you recover fully
my investments and the pay-off happened inside my home on a screen, and this guy advises people to invest, so it's still true because getting rich is not truly really wonderful in the same way human relationships are, especially when you accept that your existence is finite
You both laughing at the end about tax breaks for the super rich, out of reach of the majority… It grated on me
Yeah that's what is known in the trade as....envy!
@@ph8077- 😂😂
@@ph8077🍻
Remember they pay a lot of tax
More than you'll ever earn in 30,000 lifetime
Change the tax code, but that would take an act of congress, which is fully corrupted by these ultra rich. True, the game is rigged, so learn the rules of the game and join the fun.
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
Money invested is far better than money saved , when you invest it gives you the opportunity to increase your financial worth.
It is remarkable how much long term
advantage people like us have gotten by trying to be consistently not stupid,
instead of trying to be very intelligent.
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
The greatest technique for beginners is to trade with the supervision of an expert.
@@LoriMarie-pd5vlWho helps you? If so would you share name I struggled greatly without competent guidance.
Scott gets it, no one likes to hear 100% honesty. His perspective on growing up low income and the “ghost” that follows you is unparalleled. People, and especially men, truly listen to him and allow it to resonate. That ghost will continue to follow you until you do something about it. The last thing you want to do or should be doing is worrying what others will think of you, life is finite. You deserve to have your happiness and free of financial worries. Remedying that situation will change your life and everyone around you! Do what you know you have to do now. Even if that requires you to take a step back for awhile to truly level up. Be humble enough and realize the only reason you haven’t is because of how others will perceive you…which is nothing to worry about in the grand scheme of things.
Thank you Steven for bringing Scott back to your platform 👏
Thanks!
earned not deserve
More money more problems
Scott Galloway’s insights really hit home for me. It’s frustrating to see how wealth transfer policies favor older generations while young people like us struggle with housing and student debt. His point about the myth of hard work alone building wealth resonates deeply-it’s clear we need more strategic focus and financial literacy. But beyond the economics, we need to address the mental health impact and social disparities that tech and social media amplify. Are we really doing enough to create a supportive environment for our generation?
young people have it easy, stop crying
@@The_Love_Doctor_Sean Dismissive attitudes like yours ignore the real challenges young people face today. Rising housing costs, crippling student debt, and mental health struggles aren’t ‘crying,’ they’re facts. Educate yourself.
Nah agree to disagree. Life is about your own choices believe whatever you want, it is a great free country. Good Day
@@The_Love_Doctor_Sean I respect your view on personal choices, but how do individual choices solve systemic issues like skyrocketing housing costs, crippling student debt, and widespread mental health struggles? These are driven by broader economic and policy factors beyond our control. Can we really ignore these realities?
@@manonofthesprings5175 the same way we made it out of the caves and built civilizations. Adapt and overcome
I am that “ one out of five” who started a 403B at age 38 and now in retirement am quite comfortable because of my methods. Most of my other retired coworkers are doing fine, but still watch pennies. Some are bad at managing $$ and it shows. I scrimped and saved all I could while working a total of 42 years, paid off my home, am still driving a 22 yo old car. I learned from my parents who lived without being in debt and my ex husband who was a finance - guy. Never had children, but would have loved to if it had worked out so…that’s also a huge $ saver.
Great story. Honest question, how happy are you?
@@user-wg8jo7wg6ebased on that question probably happier than you are since you are trying to pinch their nerve
And? How about in todays market?
Did you enjoy your 20's - 60's? lol
You do know that you aren't taking that money with you when you pass away, right? Nor do you have any kids to pass that wealth onto either... So... Congrats?
In my mid 50's,I had been working 3 years in the mines of North Queensland,returned to New Zealand,it took almost a year to get a good job,spent most of it on minimum wage jobs.Out of the blue I landed a processing job in a dairy plant, earning nearly 6 figures the first year.Invested over 50% of my income each week,have done very well.Now 66 ,but will work until end of 2025.Have taken a easy basic job now for 40 hours a week.You can build good investment fund for your self on blue collar work.
Well done!!
Best wishes!
This conversation is an absolute ! for a plethora of reasons, logic, and truth. Thank you
Love this convo with Scott. I like his no bull sh*t type of advice. The direct, tangible, and practical approach to life and finances is refreshing. So many valid and actionable tips to embrace and act upon. Thanks!
This podcast is actually unbelievable.
I love the questions, in dept dialogue, calming british accent, diary questions and answers as well as little things like the cold plunge and sand bucket.
shut up BOT!
kinda, guests are good, the same questionings get boring when you listen to enough of them.
Agility with geography was our secret sauce. Met my husband overseas who was on the same path. Pooled resources. Invested and diversified. Mid 50s now and reached our 'number' AND still happy together.
That's what both men left unsaid in the discussion about the Power of Marriage. The key is to find someone on the same path, with the same financial mindset.
If anyone is worried about divorce, know that the #1 reason is financial disagreement and difficulty. Finding your person is as much about a financial match as any other kind.
Scott is truly something. He looks shocked by the tub of sand analogy, refuses to acknowledge it as a analogy of compound interest, instead says it’s more of a lesson in story telling 😂😂😂😂😂😂😂😂….dude is mad great and very American 🇺🇸
Recently, I've been pondering retirement. I've also want to put $300K into the stock market but i need an approach that will align with my risk tolerance and financial goals to secure our future..
That makes sense. Unlike us, you seem to have the market figured out. Who’s your fiduciary?
Thank you for the tip. It was easy to find your coach. I did my due diligence before scheduling a phone call with him, and he seems highly proficient based on his résumé.
Dustin Dwain King's approach is crucial for succeeding in online commerce. His management group has been exceptionally effective...
Learn about dividend growth stocks and closed end funds. which will allow you to make money from dividend passively regardless if the market goes up or down. Your basically creating an annuity from investments and using the dividends as income while never selling the underlying shares.
You maybe OK till November, but remember it took from 1929 till 1956 for the stock market to recover. Too much money printing; it's a house of cards. So is property at these prices. Commodities and Crypto are the value markets. Silver stocks also.
It's refreshing to see Steven loosening up a bit and showing more of his personality while remaining respectful and curious at the same time
I like how Scott is so open and honest 👍💪😊
@@MatthewEGolden he speaks a lot of sense. I was born in the late 70's and I am shocked at how entitled, ignorant and work shy people who say things like the one you just did are.
@@MatthewEGolden have you seen his latest TED talk? He shows a lot of good data and puts forward some good initiatives to support younger generations. He calls for academic institutions who have billions in investments to lose their charitable status as they are more like investment funds who run training on the side. He advocates for some very good ways to redistribute wealth. Worth a look.
@@MatthewEGoldenI don’t understand your issue with his honesty. He admitted he was lucky and privileged which isn’t the case for 99% of us now in the newer generations.
One of the best podcasts I've ever heard. Priceless advice for people of all ages. So many things I wish I'd known in my early 20s but am still willing to learn in my 40s.
My take home:
- Find what you’re talented at, as early as possible, and be great(or at least be good) at it.
- Start making money early. Start from somewhere but be focused and have a plan.
- Start investing early, and as you grow and become more liquid, DIVERSIFY!
- The end goal of good wealth is to be able to enjoy it with great relationships, so start investing early in your relationships. Be a good person!
Probably the best interview of Mr. Galloway so far on social media platforms!
As a 39 year old male living outside the Seattle, WA area with a kid and wife, it's difficult to live here. It's expensive, and the housing market is fucking terrible with an average of 650k or more per house. I don't want a 3500-4k monthly house payment, fuck that. All I've been doing over the last 2 years now is listening to finance podcasts, how the money system works, etc etc. Keep up the good work my guy!
Time to move to a more affordable city
Or make more money.
Hope you're renting, and monetising that space as much as possible!
Going to be blunt. Hustle harder or get out, you might not be cut out for that grind (and that's ok).
You are in one of the best cities to make money. If you want to stay you need to figure out where your intersection is with tech and natural skills. Take Scott's advice to heart, he's right.
I'm so glad to see Prof. G. on DOAC!
I was recently thinking that he'd be an AWESOME guest...and now I'm watching him 😮🫨🤯
Thank you SB and Team for bringing Scott on board. 🙏👏
The small consolation is that people that have lived other times are affirming that there may actually be a reason it feels like from a 29 year olds perspective that we do live in a pretty miserable time socially and economically
Steven, you levelled up the entire podcast by talking about how asking for help is a skill. Never thought of that.
Great strategy for people with money looking to diversify their investments. I know someone who has done this in the pricy Bay Area. She has great cash flow on a home she bought 20 years ago and is breaking even on a property she bought three years ago having put 1/3 down. Ten years from now she will cash flow better and her equity will be through the roof. She did the same for out-of-state properties.
This year I want to use earning calls to help with my strategy on companies I want to invest in. However, I don't understand them. I am always lost and have no clue what they are discussing I lose interest after 20-30 minutes and not gaining much insight. What things should I be looking to get out of an earnings call to help me invest in a specific company or real estate?
Experts say it makes sense to hire a financial advisor in the following circumstances: You don't have the time or inclination to manage your finances. You experience a major life event, such as a marriage, divorce, loss of a spouse, birth of a child, relocation or change in your employment status and for full profit uderstanding because that is the purpose of investing at the first place .
In my opinion focus on two key objectives. Learn when to sell stocks to minimize losses and maximize gains to start protecting yourself. Second, prepare to make money when the market turns around. I advise speaking with a broker or financial counselor will be much better .
Cynthia Alexandra Depken is the licensed fiduciary I use for guidance . I do not think self-investing worth is worth it from my experence . Some may have no account minimums and charge annual management fees of less than 0.5% per amount managed. Self-directed investment accounts have the lowest fees and give you the most freedom, but the risks are higher. A safer choice is to hire a financial advisor and let them guide your investment strategy.
Financial advisors can play a crucial role in helping individuals employ dividend investing in their portfolio . These professionals have the knowledge and expertise to analyze a client 's financial goals , risk tolerance , and investment timeline to determine the most suitable dividend stocks for their portfolio
i had two parents but i grew up without money and i thank my God for that
You're only as good as the decisions you make today with the money you have. As a single mom, this time last year I considered investing without much knowledge and decided to have a consultation with a fiduciary, and it was incredibly insightful. One year and a couple of months in, and I'm debt free. I truly cannot stress enough how helpful experts in this field are!
What assets did you invest in and what insights did you gain?
It’s not rocket science. As I said previously, I got into ETFs, index funds, REITs myself but wasn't getting the results I wanted the first couple of months. Got tired of taking losses and decided to seek mentorship from Jonas Herman, a certified fiduciary who helps oversee my investments in ways that have made me good roi. Now I sit back and reinvest at intervals while I focus on my 9-5.
Sounds like I need help so bad. To me, investing is not worth it and I know that's the same mindset holding me back from taking a step forward in my finance. I guess I'm just scared since I'm green to it.
@@Lilybee931 I’m in my late forties and would like to start. How can I reach him, please?
I’m in my late forties and would like to start. How can I reach him, please?
I am now 60 years old and although my financial situation is very good, I am at a stage in life when this money is not of much use to me. I actually needed this money when I was 25, so my advice to young people is to enjoy life and don't think too much about the future.
Although at 25 I want to enjoy life but it requires money!
#TrueStory
@@kupewataaka6917 I understand perfectly, I had the same experience. As time passed, I had more and more money, but less and less opportunity to use it.
Goodness, I love this channel and Scott too.
60 year old lifelong, dismally sucessful, entrepreneur and author here.
Atheism - the embrace of self responsibility, has made me face each of my foibles as personally mine.
5:30 The level of respect I already had for Scott Galloway just increased exponentially.
What he doesnt talk about is guilt from success. I work maybe 3 hrs a week in my business. Profit about $440K a year. The guilt comes from seeing ppl around you suffer and you thrive financially.
Not always all sunshine and rainbows. Thats why its so important to give back to your community
Understandable. What kind of work do you do? Share the wealth and give some advice please.
One of the ways to give back is to pay taxes. It literally hurt me when they were talking and laughing at how good the 1 % is in avoiding taxes. If they paid their fair share maybe we would have had better healthcare and people didn’t die. Maybe mothers would’ve had free or reduced cost childcare so they are not kicked back to work when their baby is 6 WEEKS old. For 10 hours a day. Just to some rich folks can spend 3 mill a year.
Yes, and spending time not just money
@msmaluu knowing what I know now, I would rather directly help people in a systematic way than pay more taxes if I can avoid it.
I don't trust the government to use my taxes well.
We see this everyday.
Most rich people don't have a second thought about that
Always a fan of this channel and Scott Galloway. Having them on 1 episode is absolute bliss.
Building wealth is not the most important purpose in life ,but we sadly think that way 😵💫
Money provides everything in life
Money is fun coupons
While I agree with the principle, I recall my older brother who said “I’ve been rich and I’ve been poor, and I’d rather be rich”. This is not about building wealth, but being poor is debilitating. Don’t be poor.
Great advice, just one thing I would disagree with. At one point Scott talks about being wealthy frees you from anxiety. I think anxiety is almost a personality trait. If you are a worrier and you get rich, you worry about different things …I know this is an opinion and only reflects my experience.
Being poor is not optimal either. I have a good balance between God, family and income but working less and making more has made my life better. This morning I will wake my sons up and read a chapter from the Bible with them and talk about it, then we will do an online college class on economics, and after that we will exercise for 30 mins. The men of the family start our day that way. When my income improved I was able to volunteer more and be a better father and husband.
"In my thirties my number was 10 million and than things got so expensive". Just to give you guys some perspective, this was around 1998. This dude is telling people here that 10 million was not enough in 1998 for him. Good luck to all young people in 2024.
$100M out of the bath lol, for him it was becoming part of the 1% for us is being part of the 0.01%
Which is 100 times harder to get the same results.
Well, he mentions "greed glands," so he's probably referring to lifestyle creep and his own ambition. His business and lifestyle costs increased, and he also simply wanted more, so he increased his own number.
Scott Galloway is the hero we all need. He's fantastic, thanks for the advice.
🔥1 quote sums it up "Don't give up what you want NOW, for what you really want MOST!🔥
Isn't that one of the same?? NOW" and "MOST" because nothing separates the two but time....(that quote didn't resonate with me)
@TheDetroitblack because what you want now literally can't be the same as what you want most, otherwise what you want most is worthless and takes no effort to obtain and your cry about it after
The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional.
I know Laura, she has really set the standard for others to follow, we love her here in the UK as she has been really helpful and changed lots of lives.
You're right! The very first time I tried, I invested $2000 and after a week, I received $8,400. That really helped us a lot to pay up our bills.
Interesting! But I'm new here. How can I get to this person's guidelines??
SHE IS ON TELEGRAMs
I'm about as close to a security guard at a parking lot as you are going to get. Man was right that there is very little stress, unless of course the tweekers come out of the woodwork. However, the time I am afforded to pursue other opportunities at work has given me the ability to become educated about the stock market, real estate, and finance to the point that, while my current job makes half what my last job did (1/3 when I started), I am breaking the generational poverty in my family after just a few years of sitting at a desk, but grinding away like you wouldn't believe.
Thank you for asking these very intelligent people to explain things to you as if you were a child even though I would say you are quite intelligent yourself. This allows me to comprehend somewhat technical jargon full terminologies and concepts in a simple way. This sets you apart from other podcasters and makes the 1h49min worth every second.
This video really got me thinking about the best way to secure my financial future. With $340k saved up, I want to make a smart move that ensures stability and growth. Given the economic uncertainties and the points Scott Galloway raised about traditional paths to wealth, what would be the best investment strategy right now?
Great question! It's so important to be strategic with your savings, especially in these times. Have you considered diversifying your investments? A mix of stocks, bonds, and real estate could provide both growth and security.
I agree with diversifying. Also, seeking advice from a professional might be a good idea. They can tailor a plan to your specific needs and goals. Have you ever worked with a financial advisor?
I was in a similar position and found that expert guidance made all the difference.
It sounds like exactly what I need to get my finances in order. Can you share who helped you?
The Investment Advisor I use is Kristin Amy Rose, just look her up, you'll find necessary details to schedule an appointment.
I get having money to not have to work into your sunset years, BUT happiness is a perception. Not everyone needs a ton off things, nor money to be happy. I just want what I need to live a good healthy life. I don’t need to travel the world etc. peace to me is less.
Absolutely. He said it himself, he wanted $3,000,000 a year income without being dependent on salary. Different people have different target numbers. If I had $3,000,000 total, both myself and my husband would never have to work another day in our lives. £50,000/$65,000 per year would give us both a very comfortable lifestyle. You can live a happy and modest lifestyle if you're a happy and modest person.
He’s a typical tech/finance bro from NYC and they’re all focused on money- he seems intelligent but egotistical and probably difficult guy to live with… just my two cents worth
@@thefutureisnow8159Why the negative comment! Hes interesting and successful
@@DraggonnyWhich exactly problém of todays world. Where most people would be ok working And just have roof over their heads, food on the tablet And be healthie. But its just isnt working anymore.
@@jakubpelikan2393 Yep. Because to have a multi-millionaire at the top there has to be exploited workers experiencing wage theft at the bottom. You don't get rich by working, you get rich by not paying your workers or your taxes fairly.
The movie never starts, without the word "action". And that is the answer.
Great comment
Beautiful.
Scott is right about a lot of things. The one blind spot he has is he believes just because people are nice to him at dinner parties that they're actually good people (he'll talk about going out to dinner with Candace Owens, for example, and remark on how nice she is as if that absolves her of all the damage she's doing to young people's minds online). The rich aren't bad because they're rich, but rich people can be bad for society, and you should judge them based on their actions and how said actions affect society. The rich aren't Montgomery Burns polluting the rivers? Not all of them are...but it IS some rich company owner deciding to get around regulations who's polluting the river, Scott.
Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich, HOW? and u want the generation to be happy???
I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts with experience since the 08' crash
You're right, I and a few Neighbors in Bel Air Area work with an advisor who prefers we DCA across other prospective sectors. Instead of a lump sum purchase, Following this, my portfolio grew 40% in the last quarter.
i'm blown away! mind sharing more info please? i am a young adult living in Miami where i've encountered several millionaires, and my goal is to become one as well
I'm cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "LUCIA ALICIA CRUZ" I've worked with her for years and highly recommend her. Check if she meets your criteria.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip.
Luck occurs when preparation and opportunity intersect. The issue is that people often fail to prepare for opportunities. That's why he said by moving to a big city you increase the opportunity to get lucky. When you seize opportunities by making sure you are present in the room, sitting at the table, attending networking meetings, connecting with the right people and learning how to leverage the next thing, you become a very lucky person.
On the topic of following passions. I finished business school and worked in marketing for 2 years although I always wanted to be a realism artist. I quit and went for it because I was 24 and saved some money from the 2 years to give it a shot. I gave it everything I got and now if I make as much as the owner of the company I worked for back in the day, I get disappointed because usually I do better than that. Passions cause you to train, which causes you to have rare levels of skill that people cant find anywhere else. I struggle to see how I would be unique in the field of marketing, as much as I am in painting. For this reason, passion following seems financially wise to me
Well said! Really inspiring comment
Love how Prof G knows his audience and uses the appropriate vocabulary to relate and get his points across in their language. Bravo!
I normally never listen to podcasts longer than 5 minutes, but I'm listening for a long time already. I like how he speaks and the way he tells his truth. He seems like someone I would actually talk to and listen what he says and I rarely even do that. I did that in my early 20s but turning 30 soon, I stopped listening to others. Thank you for this episode.
I am now a Galloway Follower. This guy totally gets it!!!
I listened to half of this b4 I was turned off. Make money your God is what I heard in-between the lines. Definitely want to provide for my family but not at the expense of my Soul. Just my 2 cents.
Super Tax Avoider ❤ I was blown away by the first time when I heard from Robert T Kiyosaki. Amazing ❤
How is he a tax avoider?
@@pyromanaic21They invest everything,no cash ,claim as much as they can as company expenses . Robert K. ownes a lot,but he has almost a billion debt.
This was one of the best but most toxic interviews ive ever listened to
Elaborate..
@@timr8456 would be glad to over a beer
All you need to hear...
6:45 "I wanna make be clear. You can't make a decision to be wealthy. Alot of it is luck.
I've honestly seen passed this Illusion of Hard Work building wealth long ago. Also recognize the sudden changes of rules to where, it's not about hard works, it's about how much worth not being replaced.
Just call it out as it is already, everyone knows this is merely a slave based system with a rigid and solid Hiarchy only those could be born into at the top regardless in lack of compitance.
It does not matter that you're a pragmatist, hopeful visionary, or an intellectual of any type within the inpoverished class, you're just seen as nothing more than mere lions cubs for the ruling elite to iradicate for the purpose of preventing any form of competition to pop up. (Because it does not work that way.)
Ruling Class elites are born into their ranks regardless of their lack of knowledge. Nicola Tesla is an example that anyone born into poverty with a high level of intelligence and determination are only destined to Madness, until they are freed from the slave based system every modern day serf and peasant were born in.
I will never forget when I had my first job during study time. My cousin brought me in and I was obviously young, fast and wellversed ( due to my active learning) and within 6 months my pay was raised two times. The manager always talked to me and made sure I enjoy my time. When my aunt had her birthday we talked about our salary and I was about 40% above my cousin. She had been working there for 7 years at that time. Afterwards the mood went south in the company. Everyone started discussing their salaries and many co workers left because the manager didn´t meet their new wage expectation.
It will take a lot of time until "talking about money" will be easy.
Thats true...
What other factors you think contributed to you being so much more well paid than your cousin and co workers?
@@hokedo I think the main reason was the potential. I was 17 and still studying. So they had the chance to raise me into a young area manager. Second guess would be my naive nature. Being young means you know little about adults schemings. I rarely said "no" and usually did more than what I was asked to do.
“Wealthy people are kind and generous”, I loved that ❤
So not true. They are invariably avaricious selfish narcissistic and aloof. It's a trait that perpetuates class divide that they find comfort in to make themselves feel better. .
wealth allows ppl to be generous
To be good in SF is mmmmuch better than being amazing in Stuttgart. This hits hard being a citizen of Stuttgart.
When he said he'd give his son 3 years to become successful being a musician (or any independent creative) then don't even bother. It's probably 7 - 10 years doing it every day and even then it's not 100% guaranteed. Definitely not recommended unless you're serious about it.
3 years truly aint nothing in music business
He said he'd support them (most likely financially) for 3 years.
His kids are adults, it's up to them to continue past that point on their own.
There's also a lot of nepotism in the music industry and acting so, even if someone is really talented, it's not a guarantee.
NOTHING is worth 'it' unless you are serious about it
Nothing is really guaranteed, if you think about it.
I was just randomly pointed to that video by algorithms, got sucked into this conversation immediately and consumed the wisdom till the end. Thank you
Passion comes from mastery -- so powerful to hear! Thank you Scott.
Only thing that is outdated advice already is the cost of living. The majority of peers I know that move to those economic powerhouse cities get kicked out just as fast because affordable rents and housing no longer exist.
Which ironically, Scott Galloway himself has covered that because the markets haven't fallen it is impossible for younger people to do anything with the little money and resources that they have.
The problem is like Scott said, it's not about younger people being afraid to take risks. It's that they can't take risks because of the economics.
Only other part that sucks for the younger generation is that we've made so many places focused on privacy and isolation for those older generations and their groups have some cost of entry that there aren't any public or affordable places for a young person to hang out and meet people to make friends.
I don't understand your last paragraph...give some examples of places that have been "made private"?
This has been undoubtedly the best interview I have seen this year and that says a lot! The conversation is genuine, deep and interesting. Gotta love Scott!
lol i wouldnt mind living in a village close to Amalfi coast, earning 55k EUR a year... 😄 sunshine, good food, what else you need in life 😁
Exactly!
well there’s near zero jobs in southern Italy that pay even 55k EUR due to decades of government corruption, over-regulation, general lack of industry, etc.
A great wife
Yea, but after that you would want something else,like 100k and some beach house or who knows, we are never satisfied with what we have in the moment. Sometimes,I believe that we have to be more happy with the little…others doesn’t have even the little…
@Jack-t
A great husband
So many gems in this. It shows in life that any problem can be solved like a puzzle. So many logical lessons, you just need to think and reflect on everything, learn your lessons and act. Be logical
This is possibly my favorite DOAC episode ever. Scott is an incredible story teller.
Ive worked in Milan for the past 20 years He is right when he says he would never have made it in Europe. The rules are different here.
What this implies is that when we listen to people explaining their rules for success, we need to mentally consider geography, generational differences, unspoken advantages etc. in order to apply those to your situation. Applying American rules to European life may lead to plenty of failure
People fail to remember that with the first and second Industrial Revolutions came far more opportunity and ability than had ever existed. Capitalism has raised more out of poverty and into wealth than has ever happened.
But it still requires some effort and self discipline. He is so right that having kids too early makes it really tough. But having them at some point makes life worthwhile.
Worthwhile for whom? Why do so few people appreciate that a new life with his/her own consciousness, feelings, experiences, and emotions is being created in order to appease someone else's life" fulfillment"? So very few people stop and think about the life being created rather than their own personal selfish wants and desires.
Sure but now the gap is narrowing dramatically; late-stage, unchecked capitalism leads to our current economic climate, where there are billionaires galore reaping in profits, and most of the population can barely afford their bills and food. People want to work, but every business owner on the planet seeks to maximize profits, dodge taxes, and disenfranchise the working class by automating the means of production. Capitalism only works if the workers control the means of production.
You don't live in capitalism. Capitalism would have allowed the banks to fail in 2008. Instead, Obama intervened and gave them a bailout of taxpayer money. That is not capitalism. Every gramt gifted and intervemtion by authority dilutes the power of true capitalism
Capitalism has raised the living standard for the few at the expense of the many.
@@user-hm4qn7wt3t you are hugely ignorant of economics but then many of you are. When you express yourself in ignorance people like me acknowledge not only are you irrelevant to life but you don’t even know that.
I suppose there has to be the people I throw in front of me who’s things go wrong
The importance of being rich in America explains a lot about the country. I live in Europe with a slightly above average income and have no financial anxieties. Things could go wrong, but they could not go wrong as terribly as they could in the US. I will probably watch the rest of this podcast, but I don't need the book.
honestly disgusted by the american system, Id rather live in europe but I would get paid half as much
This guest is so raw & real! Loved it! Learned alot! Thank you!
Man the value of the knowledge in this interview is immense.
Im so grateful to steve for bringing on these amazing guests to the podcast. Each video just gets better and better!! Keep up the amazing work, steve🎉
In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like Iynne Marie Stella who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look her up and send her a message. You've truly motivated me. God's blessings on you.
Great theme. I grew up being incisively told that talking about money was absolutely rude and crass. Also, don't take risks: better the devil you know...
Massive respect to Scott Galloway for this sharing, grateful