Scott Galloway’s Advice To Make Millions In Your 30s & 40s

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Episode 581: Sam Parr ( / thesamparr ) and Shaan Puri ( / shaanvp ) talk to Scott Galloway about his Get-Rich formula they won’t teach you in school and the hard-to-hear but essential advice every 20-year old should hear.
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Show Notes:
(0:00) Don't follow your passion
(3:08) Reverse engineering $160M exit
(7:30) How to keep top talent in your company
(11:12) "I'm not your friend"
(13:41) Scott's best and worst hedge fund deals
(16:20) Losing $10M every day
(18:14) Handle triumph and disasters the same way
(20:54) If you can't fix it, you have to stand it
(24:28) Lessons about happiness from the dying
(25:51) Statute of limitations on suffering
(28:57) Where Scott steals his powerful phrases
(33:09) Shaan opens his notes app of funny phrases
(34:52) Scott's anti-excited list
(37:33) “Go live in a city”
(39:50) Opportunity in America v Europe
(42:30) The fallacy of hard work over time
(46:56) Money does buy happiness
(52:20) The Algebra of Wealth
(55:33) If you have a side hustle you need a better main hustle
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Links:
• The Algebra of Wealth - tinyurl.com/44yw3h6k
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Check Out Shaan's Stuff:
Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): bit.ly/SupportShepherd
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Check Out Sam's Stuff:
• Hampton - www.joinhampton.com/
• Ideation Bootcamp - www.ideationbootcamp.co/
• Copy That - copythat.com
• Hampton Wealth Survey - joinhampton.com/wealth
My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano

[@CliveBirse]

As an investment enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make decent returns

[@mariaguerrero08]

I think this is a time where financial advisors may come in handy for everyone, not just newbies

[@mikegarvey17]

IMO, financial advisors are the most sought-after professionals after doctors. My portfolio is well-matched for every market season and just yielded 85% from early last year to date. I and my advisor are working on a 7 figure ballpark goal, tho this could take another year.

[@ThomasChai05]

@@mikegarvey17I appreciate the implementation of ideas and strategies that result to unmeasurable progress, mind sharing info of this person guiding you please?

[@mikegarvey17]

My CFA ’Gertrude Margaret Quinto’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@Grace.milburn]

Thanks for the info, i found her website and sent a message hopefully she replies soon.

[@matturner8]

The whole point of wealth for me is freedom. My magic number in my mind is $5 million needed at 65 to not worry about anything and i am halfway there. Since i am closing in on retirement, i am searching for an aggressive strategy to boost my Roth accounts and maximize the tax-free profits.

[@ScottArmstrong12]

Financial Advisory... Many won't tell you this but that's your surest and safest bet since most alternative investments have greater earnings potential but more risk, too.

[@LukeMcfarlane5]

Apt!! I was self-managing my portfolio but suffered heavy losses in 2022 and i knew i couldn't continue like that, so i consulted a fiduciary advisor. By restructuring and diversifying my $1.2M portfolio with dividend-paying stocks, ETFs, Mutual funds and REITs, I significantly boosted my portfolio, achieving an annualized gain of 28%.

[@ritalorrigan]

Impressive! How can I contact this advisor? My portfolio isnt doing well, and I need guidance.

[@LukeMcfarlane5]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’CAROL VIVIAN CONSTABLE” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

[@LukeMcfarlane5]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’CAROL VIVIAN CONSTABLE” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

[@EthanBrown_23]

I've just completed the sale of a property located in Portland and I'm considering reallocating the resulting funds into the stock market. Despite prevailing sentiments regarding its readiness, I'm unsure about the timing of stock purchases. How long until we witness a full market recovery? Furthermore, I'm puzzled by the methods allowing others in the same market to achieve gains surpassing $200k within months.

[@ChristopherDavies_]

diversifying your investments is the safest way to handle it. One way to lessen the effects of a market crisis is to distribute investments over a variety of asset classes, such as international equities, bonds, and real estate. It's critical to look for expert advice.

[@JessicaThompson.]

The significance of advisors often goes unrecognized until emotions cloud judgment. I remember a couple of summers ago, during a challenging divorce, when I needed significant assistance to sustain my business. Turning to licensed advisors, I discovered someone highly qualified. Despite inflation, she played a crucial role in boosting my reserves from $275k to $850k.

[@tunnelvision3246]

What strategies can I employ to pursue this opportunity? I am wholeheartedly dedicated to securing my financial future and am enthusiastic about getting involved.

[@JessicaThompson.]

Actually its a Lady. Yes my go to person is a ‘LAURELYN GROSS POHLMEIER '. So easy and compassionate Lady. You should take a look at her work.

[@SarahTaylor_]

I searched for her complete name on the internet and located her page. I then sent an email and scheduled a meeting to converse with her; now, I'm awaiting her response.

[@blaquopaque]

I began working at 18, strived and grew my portfolio to 600k by 27. Recently, lost over 30% and want to mitigate risks. Also, planning to buy a home soon and want my portfolio to grow to a 7-figure ball park so i can retire in 15 years.. What should I do?

[@Curbalnk]

I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor like Azul to ensure appropriate retirement planning.

[@velayuthman]

IMO, Adding JEPI and JEPQ is smart for retirement. As for staying committed to low-risk investments, it's all about balancing your risk tolerance with your long-term goals.

[@greekbarrios]

De-risk your portfolio, shore up your core holdings, and take some profits while balancing your portfolio allocations. I’d also suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I. We've made over 80% capital growth minus dividends.

[@kashkat987]

@greekbarrios I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation??

[@greekbarrios]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Kristin Amber Landis” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

[@daleharris4953]

"The #1 predictor of retention is whether or not that person has a friend at work" I can't tell you how many times I've said "welp my time here has come to an end" immediately after my work friend got a new job.

[@Vivienedouglass]

At 36 I already own shares of PALANTIR, TSLA, NVDA and APPL as well. Sure, I don't mind having these equities sit around for a while, but I'd also like to appreciate short-term opportunities that could fetch $200,000 or less..

[@AmithKaury]

If you need advice on short-term investments, consider speaking with a financial advisor. They have a lot more knowledge and expertise in this area.

[@kurtKking]

True. Having the right financial planner is invaluable. My portfolio is well-matched for every season of the market and recently hit 90% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, though this could take till Q3 2024.

[@frankedwardark]

Smart, If i wanted to do the same with my savings funds too, how do i get started trading?

[@frankedwardark]

I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you

[@SeniorAdrian]

Guys, I've been suffering from depression and anxiety for 10 years. I'm 31 and living with my parents, but i started watching your podcasts and the information in them gave me hope. For the first time, in a long time, i stopped thinking about taking my life. I'm a digital artist/aspiring filmmaker. Do more of these videos and talk more about network, pipelines, strategic approaches to business, digital ways to make money as a solopreneur, industries and their capital. Thank you guys. You rock.

[@moneymakingsim4314]

Hand in there bruh. 🙏🏽🙏🏽

[@SeniorAdrian]

@@moneymakingsim4314 Thank you brother.

[@njay4361]

I hope you find a way to translate your inspiration to action. The key isn't to creating masterpieces every time, it's simply to do something. And to keep doing it, consistently. Tune out of the world and the chaos and tine into the inner you that is begging you to take a chance on yourself. I don't know you but I can see great things ahead for you. Keep going! 🫶

[@alexshibu3263]

You got this bro

[@wagmi614]

hold your head high king, and read some stoicism and ryan holiday or watch his videos, it'll help

[@herpaderppa3297]

What a lot of people don't get right about Europe is that people who start businesses go to a BANK and get a loan. If they fail they have to pay it back and ruin their whole life. Failing over and over and over is just not possible.

[@Riggsnic_co]

These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.

[@kevinmarten]

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.

[@Ashley186fre2]

Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $21k ROI, and this does not include capital gain.

[@Jamessmith-12]

Would you mind telling me how to contact this specific coach using their service? You seem to have the solution, as opposed to the rest of us.

[@Ashley186fre2]

'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

[@Jamessmith-12]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@1NN3RxC0R3]

"1 out of 7 businesses succeed that's why I started 9"

[@WellActualllyyy]

what’s the timestamp where he says that?

[@yousefales4665]

​@@WellActualllyyy Somewhere between 40:00 and 42:00

[@FostRaider]

It will take you 20 years....Do it

[@alexg8460]

Funny I’m almost at my 9th hope this one is the 1 🙏

[@zolagb9428]

Rich parents to take the hit from the failure. Wink wink

[@mikeeinstein1]

I really appreciate how there was not 5 minutes of teasers before the episode began. Please keep that up.

[@Asmonix]

my 30's begin tomorrow. got to watch fast

[@TylerBTalking]

Happy Early Birthday 🥳 It’s a blessing to make it that far.

[@alexshibu3263]

No ways my 20s start in 2 days

[@whisper2284]

😂😂😂

[@philipalxander]

My mid-20’s start in 4 days hahaha

[@tigreytigrey8537]

Key to getting rich fast (as someone who's kinda rich already) is to SLOW DOWN and ORGANIZE YOUR IDEAS AND THOUGHTS ON PAPER (or better yet a computer. Evernote is great for this)

[@coolpeips]

His no bull is so refreshing

[@Sleepy_Babushka]

Scott’s entire disposition is refreshing. We need an authentic voice of reason in this country right now.

[@kennethrosever8843]

Great pod. Worth watching two times and then twice again with a notebook.

[@user-yt5pj3lp3l]

This AMS66P is a revolutionary project and amazing technology.

[@dm96177]

Scott, thank you for putting your voice out there and talking about these important topics. Just ordered your book and can’t wait to read it!

[@brushstroke3733]

I lost my job nine years ago. When Scott talked about skills atrophying and losing confidence, it hit home. I need help getting started again.

[@njguy5101]

I would say take something simple even at supermarket just get u out then look for something better

[@julianengel13]

I just watched his TED talk an hour ago, and now this popped up. So stocked 🎉

[@ddfelder2]

SAME!!! Best TED talk hands down!

[@EriPages]

"Stoked"

[@OzoTenzing]

Scott Galloway is all over KZbin.

[@owijayson]

Same

[@akshatshah4238]

Great pod. This is a masterclass on how to ask great questions...cheers Sam. Brilliant.

[@raebean6018]

I have never heard of this bloke before, nor have I watched this channel before, but as a 37 year old woman who has had to start over after a work breakdown, this was a really great talk. And the best thing is he's not a theorist! He's done the work, and he's not giving an unrealistic view of the world!

[@dizzyh]

I am so grateful to have stumbled across this video. Thank you so much. This guy is amazing ☺️

[@projextawtt]

One of the things I liked about your videos was that I could listen to something interesting without the ads.

[@kkhdelivery6208]

This hit all the emotions

[@TeamPlanlos]

both

[@souelyoung2233]

Very very brilliant and shrewdly conducted interview. I learn much and really enjoyed this one . Happy Mother’s Day

[@mikestarks8464]

New business owners do work 80+hrs a week often 100hrs as well

[@ErickaWilliamsCC]

This is a great one.

[@shanilevi2690]

Wow, such a great episode! So glad I started listening to you guys again after taking a break. You have even killing it!

[@CoachMarkspeaks]

I fell behind 4 episodes because I was traveling and as I caught back up, I left this one for last because I thought the others would be better. All 4 of them were great but I just realized I inadvertently saved the best for last. This episode had so many 💎’s. Simply Amazing

[@pyewaw]

I hated Scott so much because of his Twitter takes and now he has completely changed my perspective on so many things. What a genius! This is one of the best episodes you have ever done.

[@shanediesel4562]

First minute intro great! Clear, direct, actionable

[@charlespennock4063]

I needed this video! Thank you

[@1122Jet]

Really Enjoyed this!

[@luisg6404]

This is your best episode. Thanks!

[@paritosh-sharma-storyman]

Absolutely brilliant. Scott is just sheer incredible

[@earx23]

Even the first 5 minutes are solid gold! Thank you for this! 12:00 Word, employees are not your friends. But indeed an excellent comparison is that they're your kids.

[@RM-jb2bv]

He just said the secret to his company is all his employees are friends with one another. Newsflash: Nobody goes to work and stays at a job bc they have a friend. That’s asinine.

[@earx23]

@@RM-jb2bv it can help. He didn't talk about the couples phenomenon, though. IMHO that's a big down side of people being friends in the work place. They're harder to command.

[@chilloften]

Yea, what’s in their contracts?

[@UmarDin20]

Watched this episode a few times already, great episode as always guys 👏🏽

[@MattTheMortgageGuy]

How can you not love this guy and his sense of humor?! New Scott Galloway fan here!

[@tigreytigrey8537]

He's also one of those LA bubble people who's critical thinking abilities have been brainwashed away. Watch, I gaurantee the more you watch him you will eventually see Him go off on a random virtue warrior tangents that make absolutely NO SENSE whatsoever, Nor does it align with his ability to think critically in business. It will make you scratch your head since its basically a paradox lol.

[@Sleepy_Babushka]

@@tigreytigrey8537 found the hate spewing troll/bot in the comments.

[@cuanchai]

A very refreshing episode that touched on every emotion.

[@kayser152]

This is one that I'm adding to a playlist folder and watching a few times.

[@martinboyd447]

So Powerful. Just listen if you wonder about the ups and downs. Amazing!

[@ido_oz]

One of your best Episodes of 2024 so far, if not the best.

[@dwayne9959]

Easily One of the better episodes

[@Harpreet06]

Very interesting, he's right though, I've definitely stayed in workplaces too long just because I had friends there. A lot of wisdom here, you guys should definitely get him on again, his words really struck a chord with me.

[@paulpatel9657]

Great advice.

[@therealmvp7475]

Thank you.

[@drewmcleod1598]

Finally some clickbait aimed at people in their 30s. Always seeing “how to make a million before you’re 20” is exhausting lol

[@AlexMacGregor]

Great episode! Scott is a legend

[@UWABEAUTY247]

You're the answer to a friend’s problem 🙌🏿🙌🏿🙏

[@Caleb-ft6vj]

What is the Deloitte study that they mentioned in the beginning of the episode?

[@FostRaider]

Damn...I'm a 39-year-old business owner. This hits hard. Never heard of him until now. Thanks

[@drachenmarke]

He was big pro/censorship pro-lockdown type, a limousine liberal.

[@majordelays4909]

Pro lockdown - oof - that seems inconsistent with his values 🤔

[@cesuntbanii]

he's somewhat of a statist...

[@PeterLotterhos]

Love yr honesty

[@JFourMileRun]

Great episode. Scott is funny.

[@EcomCarl]

you nails it with focusing on talent over passion-developing mastery in a practical field can unlock real fulfillment. Excited to dive into 'The Algebra of Wealth' for more insights! 📘

[@CleanWithDarian]

I never heard of this guy before this podcast but I’m so glad I listened. This was so insightful and incredibly inspiring. Thank you guys!

[@jrp6313]

This man is such an inspiration!!!! ❤

[@SandcastleAndy]

I left the UK because the word no comes way before yes and how can we work together was always in the distance

[@danieladetayo3711]

My favourite teacher on my favourite podcast. There can only be one outcome

[@robertbruceryan]

Shaan , Sam, high praise moment- > You guys are a “Joey bag of donuts” pod cast. 😂 enjoy the acknowledgement!

[@warrenbailie]

Scott has this way of taking over the conversation or in this case the Podcast. He did the same on the Rich Roll Podcast, and it's not a bad thing. What he's sharing is well-thought-out and well-spoken education and wisdom. He's been through it all and as an educator has the experience to deliver it.

[@HamidAhmadi-pv2vi]

Thank you very much for sharing your experience and knowledge about trading and binary options. You truly help people achieve financial independence.

[@TerenceMarais]

One of the biggest truths about the value of the US: "People start from yes here." No place on earth like the US.

[@perfectlycontent64]

Insane amounts of wisdom in this interview.

[@scottwilcox2997]

One of the best podcasts I’ve seen in a while. Scott is literally brilliant

[@drachenmarke]

Hmmm… Scot had a 2.4 GPA, lost millions in 2008… how did he make his $$$… Oh, start a podcast and consulting biz…

[@phil_techuk]

So interesting you talk about the Tall Poppy thing in the UK. I'm from the NW of the UK and discussed the very same thing on a podcast a few weeks ago. Shot down if you want to be successful at something. Need to learn how to build each other up like our American cousins. Great episode

[@scottmccoy4335]

Great talk Scott, dream and do it NOW

[@angelocean365]

Scott is such a capital G!!!

[@kevvwarren]

This is the realest pod ever dropped.

[@TJInTech10]

well said

[@missdale8290]

Great interview but I wish this guy had a book.😉 Thanks for sharing some of your wisdom, Scott!

[@okoiful]

How is this guy such a happy person?

[@ripapartjoel]

Love how Sam and Shaan just let Scott go off for over 10 minutes on stoicism. (20:56 on)

[@ktferretti]

Mitch Hedberg Reference is a gem.

[@Richversion369]

Thanks and really appreciate 🙏♥️

[@209CryptoE]

Great episode...top 10.

[@grahamkennedy7221]

51:44 Shaan nailed that one! A burp or a little cry maybe.

[@moneymakingsim4314]

Definitely buying the Book this afternoon Scotty G!!!💪🏽 Love your content!! To the producers, yet Another banger! Love from East Baltimore. From Sim the trucking guy.

[@drachenmarke]

He’s all self promoting.. he’s a hack….. watch his old vids.

[@garrettgeorge3363]

Could someone please point me to the Deloitte study that is referenced in the "Reverse engineering $160M exit" section of this podcast?

[@SantiagoGil-vs3ri]

well this guy is my new favorite....

[@elloumimehdi5786]

Genuily one of the best role model. Very interesting

[@10000Mistakes]

Great pod. Probably worth listening 2 or 3 times.

[@tarekaz]

Episode of the year so far. 🔥 Second time I think a guest of yours needs to have a movie made about them. First was Sarah Moore, now this.

[@hzad5009]

Let's GET IT!!!!

[@stephanieawuah]

First time hearing of Scott G. Thoroughly enjoyed listening ‼️ Definitely replaying. If he HAD to make sacrifices so he could enjoy the "balance" he has now, would he do it again and to what extent, wondering 🤔

[@murtazaalamm]

turning 21 today! Thanks for this🙏🏽

[@madeline5188]

Scott Galloway is a legend.

[@KiKi-te9yd]

Love that he has educated himself enough to identify his weaknesses

[@LukeMcCallion_]

I couldn’t put my finger on it for weeks, but now I got it, Scott sounds like the Head Pixie from Fairly Odd Parents

[@chefbrian26]

Ben Stein 😂

[@piopi_starjr7455]

Wow he does lol

[@thechri5357]

Wow. Didn't know the guy. Great interview

[@matador677]

Very few companies get multiples of revenue for their company. Tech companies like software where it’s high margin and the acquirers can own the IP, then that’s a possibility. EBITDA, receivables, owner’s equity and inventory if there is any is what will drive the valuation.

[@samcharo]

Powerful ❤❤❤❤

[@Aiolosz]

very interesting thing about balance you either have a balanced life or you push the crazy work somewhere in your life and then have more fun then the balanced out lifestyle has for the other half really something to ponder for people

[@akshatshah4238]

A question. 55:33 What if the side hustle is the same as the main hustle? But the side hustle is for you...and main hustle is for an employer?

[@AlaskaJiuJitsu]

19:17 and I joined the Army and closed my landscaping company in 2008 - missed the bull run preparing and deploying men. What to do now lol ?

[@ddfelder2]

Get back on that horse!

[@contecrayononpaper]

I wish I knew to buy Hasbro stock in early 1980s. What a fun game to play.

[@earlj.d.6285]

1:50 “90% employment rate which 90%+ enjoy…” I wonder if there’s a list or what fields/jobs these are

[@oCashflowo]

First time being introduced to Scott and I loved listening to him. Thoughtful, brilliant and vulnerable.

[@ronkz7854]

The real mad man!!

[@brushstroke3733]

This is all very depressing. The bull market has to end at some point doesn't it? Are we not in the biggest bubble in history?

[@alecleake4553]

Love Scott

[@graciethecat2181]

Follow your talent. Be great at it.