The Missing Piece in 99% of Financial Advice | Scott Galloway

[@Erika2]

Learn how to turn $10 into $10,000 using the “Passive Investing Method”: I’ll be teaching you in my free 5 Day Investing Challenge. Go to erika.com/start to grab your spot!

[@texaslovelylady]

How long for $10 to become $10k? Thank you 😊

[@chychychibuezeh1853]

The URL not working for me... click submit and it doesn't get to the next page

[@tradespx9055]

@@chychychibuezeh1853 the link is working now

[@adamweah8037]

I’m 63 from southeastern Ohio but worked overseas all my life. I have savings of $800,000 and I'm ready for retirement, only concerned about the soaring inflation. Is this enough to retire comfortably, or do I need some sort of money management?

[@MaximilianFischer497]

Your analysis is inspiring and mine is similar. Getting the best strategies for short term/long-term trading involves a lot and I stayed determined, took risks and also learned from my mistakes. Considering how beneficial my investing in trade has been lately, my target is to hit 1million by January 2025 and I believe it is achievable

[@TicheDebb0]

Indeed, currently I'm managing my finances wisely and being frugal. In the last 19 months, my investments grew by 43%, adding over $500K in profits. However, I've had losses in the past month, making me anxious. I'm unsure whether to sell everything or wait.

[@MarshalWagner457]

Many folks overlook the importance of advisors until their emotions cause them problems. I recall a few summers ago, after my lengthy divorce, I needed support to keep my business going. I searched for licensed advisors and found someone extremely qualified. She helped grow my reserve from $275K to $850K, despite inflation.

[@RowanBryson]

Glad i came across your comment, Could you please share the name of the consultant that assist you and if you don't mind, how do I get in touch with them?

[@MarshalWagner457]

“Sonya Lee Mitchell” 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

[@henryallard245]

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.

[@GilbertOjoa]

It's amazing how history keeps repeating itself, and the urgency to prepare is definitely real! Investing can be the best decision of your financial life. I started my journey in 2021, and it’s been the best choice I've made for my finances.

[@Mikael00898]

What's the best way to begin, and how long until it starts yielding profits?

[@GilbertOjoa]

No matter how long you wait, opportunities will arise in the market. Invest for the long term, and avoid being too greedy or too fearful. Making informed decisions is crucial; relying on luck isn’t enough, so partnering with an advisor is essential.

[@Mikael00898]

I hope you don’t mind suggesting your advisor, as you mentioned before

[@GilbertOjoa]

Olivia Charlotte Oswald

[@GilbertOjoa]

She's an amazing professional I’ve had the pleasure of engaging with. You can look her up

[@michellemorales401]

I love how humble Scott is. The most important thing truly IS how we treat other people. For me, personal financial stability allows me to take care of myself and be able to help my family, and give back to my community.

[@mysticaltyger2009]

Yeah, he's brutally honest.

[@tatianastarcic]

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.

[@Vincent-j8u]

Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.

[@nicolasbenson009]

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

[@sharonwinson-m8g]

Could you possibly recommend a CFA you've consulted with?

[@nicolasbenson009]

My CFA ’Melissa Terri Swayne’ , 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.

[@JacobsErick-u8r]

Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.

[@ghggp1]

These types of videos need to be shown in high schools in all high schools ! Financial literacy missing from our educational system! Scott is so profound and resonates with so many of us who care to listen. His humble demeanor and profound financial instructions are worth sharing! He is so disarming and admits to his mistakes. We have all been there! I wish I had heard this advice years ago. Young people need to take their financial futures seriously! Thanks for a great interview!

[@PeterParker-wj3cr]

I don't disagree! Financial literacy should be taught in school. However at the same time finance is also a personal journey. It's not the responsibility of schools to make us rich. We live in a competitive world. Which means we have to gain our own competitive advantage. Most people are lazy. So the way i look at it. If you learn on your own by reading, taking online courses about finance/capital markets..etc. That will give you an asymmetrical knowledge base advantage over the average person. Everyone can't be rich. School just teaches the basics. So we must go above and beyond to seek out our own financial success!

[@lisajane4330]

Wish they did, I'm only getting financially literate now in my early 40's.

[@PeterParker-wj3cr]

@@lisajane4330 Well i'm 46 now. I started to get serious when i was around 33. I use to blame school as well. But i took ownership and decided that i wasn't going to blame school anymore. I take full responsibility for my life and my failures. But then i said to myself. Even if they did teach financial literacy in school. Would we have appreciated it? I remember i hated my accounting class. Which is funny because i had to re learn accounting to help me navigate company balance sheets now, when i'm reaching a company to invest in. I think its only in hindsight that we can look back and question why school didn't teach us certain things.

[@paullkenny35]

They are focused on learning pronouns to feed some deranged person's insecurities.

[@JASONUSASR]

❤❤❤❤❤❤❤❤

[@GarrettBanks-n3p]

I DISCOVERED THIS GUY LIKE TWO MONTHS AGO. THE WAY HE EXPLAINS THINKS REALLY OPENS YOUR EYES. I COULD LISTEN TO THIS GUY TALK FOR HOURS.

[@carolannstevens5814]

I love the end what he said … high character, generous, loving, forgiving person ♥️ relationships. Be around people who want you to win.

[@nathalienguyen6860]

I love that. Real wealth comes from real relationships and being a generous loving person.

[@jiobodega2358]

just sent this kind of message to my best friend just a while ago before watching this video

[@yanikq]

Social Capital is illiquid but it's the only form of risk free leverage that I know of...

[@Oprizzle1]

You sound like you don’t have fiat wealth… but I do agree.

[@fitnesspoint2006]

Pretty-make-you-feel-good string of words. What is "real wealth" from "real relationships", in reality most if not all get tired, irritated, and annoyed by our real relationships, there is no blissful prerfect real relationship. Being generous loving person hmmm if you are living on bananas and raman then abusing the 4.99 all you can eat at the end of the week its hard tobe generous, whatever that means.

[@martinboyd447]

​@@fitnesspoint2006In reality, people just get tired of the young man's game, so they try to reinvent the narrative in favor of their moral and ethical responsibilities. Oh, I was a crap dad, but at least I have a bunch of money to make up for it now that my kid can hold me accountable for being a crap dad. If you have enough money you can sound moral without playing by the blue collar mindset.

[@fdrodreeguez20]

Great episode. Love Scott Galloway's presentations, interviews, podcast, etc. Thank you Erika for sharing!

[@viviancarolgioao]

I'm an amateur with a portfolio of 70k but it's hard for me to build confidence. I want to invest another 70k over a one month span, but I want to be strategic about doing it so I can grow more and not stay stagnant. Any stock suggestions?

[@SteveDutton-v]

Not offering any particular advice, but I can assure you that it's not as hard as many people think it is. Ordinary investors lack the requisite level of diligence, so having a financial advisor on board is usually highly beneficial. In the market, this is how people generate enormous profits.

[@mikey43221]

I agree. There's a lot of potential in the market. My friend introduced me to a financial advisor in 2021, and even though I was skeptical, I went on. I finally was making enough monthly dividend to quit my soulless job and pursue my dream to start a restaurant in New Jersey and still earn five figures in monthly dividends.

[@DonaldStokes-p]

pls how can I reach this expert, there's bloodbath on my porfolio and I need someone to help me with it

[@mikey43221]

'Sharon Ann Meny' 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

[@DonaldStokes-p]

Thank you for the recommendation. I'll send her an email, and I hope I'm able to reach her.

[@hansanaik3835]

The advice that I like the most is to live an amazing life and not even think about the person that has wronged you.

[@stevetavelaris4801]

I truly ask that every young and even older person listen to Scott Galloway he’s advice will help you and even save you. I am 66 years old and I really respect his advice for everyone.

[@JB-by8tw]

Growing wealth for most = time, consistency, and making solid investments. In other words, growing wealth = investing young + secure above avg paying job + index funds (S&P 500). This is the blueprint. Scott says a lot of things that are valuable. I’m 54 yrs old and my wife is 53…we basically followed this blueprint and have become multi-millionaires (not including our paid off CA home). We’ve been together since high school.

[@tradespx9055]

Good for you guys, you came up with a plan and you followed it. I think having the discipline to follow your plan is the hardest thing. I was up and down over the years, not being consistent. Now I’ve had to bust my butt for the last 10 years to catch up. I wish I had the foresight you did to just be consistent, would’ve been a lot easier on us.

[@sothearyouk373]

This so important for everyone to listen to. Especially young people. Sending this video to my nieces. Thank you Erika!

[@davidleong6606]

Erika you are a terrific interviewer and listener. Scotty G is a Greaaaat guest!!! I LOVE how Scott is NOT afraid to speak his views on male/female differences in brain behavior and tendencies especially in our hyper PC society… So refreshing!!! Erika, You are Excellent & skillful how to allow your guest to finish his thoughts and you are always quick to ask for explanation and clarification so that your financially novice listeners will learn and understand more completely… much appreciated! 🙏🏽 And for us more financially mature, WE LIKE hearing definitions over and over again for reassurance… Keep up the great work!!! 👍 👍 👍

[@tammyparsons8583]

What an absolute raw, honest, and mind blowing interview! He is saying WHAT NEEDS TO BE SAID! Thank you for this interview!

[@MarySennott]

I started to watch a ton of Scott Galloway interviews and this is my favorite. I know he's a 1000 times smarter than me but this is relatable.

[@TeresaLiam-z1o]

I feel investors should focus on under-the-radar stocks, considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises plummeting stocks that were once revered. I don't know where to go here out of devastation.

[@LindamartIin]

When Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.

[@alex-Yolan]

Keeping money in the bank is like paying banks and the Government. Here's how it works: The bank gives out your money as loan, and charge interest obviously higher than inflation rate, and then give you, the depositor, interest lower than inflation rate. That means net loss for you. That is why I prefer to invest, and on average, my advisor makes returns that always beats inflation!

[@LeylahCollins]

Glad to have stumbled on this comment, Please who is the consultant that assist you and if you don't mind, how do I get in touch with them?

[@alex-Yolan]

‘Grace Adams Cook’ , my CFA, boasts a stellar reputation in her field. I suggest delving deeper into her qualifications. With her extensive experience, she serves as an invaluable asset for those seeking financial market advice.

[@LeylahCollins]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

[@eschiedler]

What Scott says about Eastern Europe is true. I went to East Berlin in the summer of '88 when the Wall still divided the city and we found a hidden restaurant near the main plaza with incredible food and it was basically 'free' it was so inexpensive. However, everything else was empty and gray. There was no resources at all even for color, let alone products.

[@FilmedByRayBrown]

Scott is my favorite character ever in 2024, holy shit I’m 19 And I’m working out and listening to this as I workout and this is absolute gold

[@chinenyeokonkwo8627]

Very great episode. I have been feeling clueless about investing, now, I have some insight so am ready to take the first step. Scot is so authentic with sharing his experience and view about building wealth. He has given great advice for living a fulfilled life. I hope viewers will have the courage to implement this and not procrastinate. Thank you Erika , this episode is a 10/10.

[@lucyluo3898]

Watched so many KZbin, this is a true successful people who speaks everything fairly, I wish I have more positive humble people around me like this❤

[@susanvickery5775]

I love Scott and listen to him a lot. I wish he’d address the case of older people who didn’t start investing when they were young. /there are still ways to build wealth and retirement savings.

[@TheLovely990]

Starting early is the key, but some of us don't have that time. Just live the best life you can. It's not how much money you make, it's what you do with the money you make.🤔 Save, save, save!!!!!

[@tonysilke]

One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $200k of my savings in stocks this year, and I hope I make profits.

[@Nernst96]

You are right. The best approach I feel is to diversify investments- by spreading investments across different asset classes like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.

[@PatrickLloyd-]

That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.

[@PhilipDunk]

Could you kindly elaborate on the advisor's background and qualifications?

[@PatrickLloyd-]

Tracy Annette Webb is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@PhilipDunk]

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

[@chriswebb4797]

Excellent point on the high wealth individual, they are kind to extremes. They love to share their process and are excited to learn how it can be improved on (which is usually done by younger people!).

[@travsmac]

Compound interest is amazing, but it presents a conundrum for young adults. Putting aside $50 when you're 20 is EXPENSIVE, putting aside $50 when you're 40 is almost nothing. The reason young adults don't take advantage of time with compound interest is because the value of that dollar when you are young is incredibly high! Technically, it's the same dollar, but how important that dollar is to you can vary wildly throughout your lifetime.

[@tradespx9055]

That is totally not true. Putting side $50 is easy for anyone. It’s a matter of sacrificing a few things in order to get it done. That’s not even as much as some peoples cell phone bill, which didn’t exist when I was a kid. And just FYI saving just $50 won’t get the job done either, you’re going to have to save way more than that per month, and increase the amount over time due to inflation. I do agree with your point that a dollar has a different “value” as you get older. Point well taken there.

[@stocksxbondage]

@@tradespx9055Yeah $50 is expensive until it’s time to go to the bar/club. It’s expensive until they want to buy the newest shoes or clothes. It’s expensive until they want a Mustang or Wrangler. It’s expensive until they want a tattoo. Young people just do the dumbest things with money. I was buying the newest Nikes, bought my dream car (Mercedes SL500), and got a full leg sleeve tattoo in my 20s before even opening a retirement account… it’s all excuses. Thank goodness I got it in gear by age 28.

[@tombowman4489]

I 100% agree that 50 dollars has a different value when your younger and I think added to this point is when your younger you have less trust and less comprehension of what the stock market is and what an index fund is! Why the hell would you put your money into something that has zero instant/ short term gratification that you didn't even understand? You wouldnt and that's what we don't and didn't. When we are young we want skinny things we can touch and feel and go fast. not numbers in an account that we are told have the risk of going down in value. This next generation will do well because KZbin is full of people like Scott tell them to invest in low cost index fund. My youth had nobody saying this 😭 😂

[@ThePurpleSnork]

I think you're absolutely right, but there's middle ground. $50 a month is a lot for a person with very little money, so the way they can set themselves up for success isn't outright saving, but making sure they make good choices in other areas. Avoid debt, make good career choices, and work on improving themselves - pretty simple right? But people don't do that. They keep up with the Joneses. They get themselves into credit card debt, and student loan debt (think philosophy major, not chemical engineer), and they treat themselves to travel and a lifestyle that they quite frankly can't afford. So that means when they do start making some money and $50 isn't unrealistic anymore they aren't starting from zero, they're actually starting negative - they're in a hole. Avoid the hole. Don't worry about saving when you're 18 years old. Start when you're 30 and you've set yourself up for success, instead of spending the next 40 years with bad habits and acting as your own worst enemy.

[@TheyRiseBand]

It's not the same dollar when you're 40. I'm 45, when I was 20, I could afford an apartment, car payment, food, etc. on $15 an hour, in Colorado. Couldn't even dream of doing that, today.

[@donaldlee6760]

This was a great interview, I wished I was exposed to this knowledge in my early 20s, but I am able to help teach my 3 kids so they can get a head start.

[@LucasBenjamin-hv7sk]

Sometimes Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.

[@Franklin-gq4si]

Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin ,While also continuously learning from mistakes and improving.

[@CharlesArthur-fq5sx]

Many overlook that banks are return-driven businesses. I don't trust keeping a large sum in a bank. Instead, I invest with guidance, enjoy the benefits, and save for retirement.

[@williamDonaldson432]

After the '08 financial crisis, I've learned not to trust corporations. Since 2020, I've been investing with a financial advisor and have had no major losses, so I'm not going back to relying solely on banks.

[@foreverlaura-fq4eu]

Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?

[@williamDonaldson432]

The decision on when to pick an Adviser is a very personal one. I take guidance from Annette Marie Holt to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.

[@Bako-b8j]

Because of the US economy's importance to the global economy, its instability has far-reaching implications. In such circumstances, safe-haven assets such as those with high FA and cryptocurrencies provide security. Investors must prioritize asset protection, diversification, and balanced portfolios in order to weather market volatility.

[@RobertBrown..]

During a recession, investors must understand where and how to distribute capital in order to hedge against downturns while being profitable. If you are unable to navigate the market, speak with an expert advisor.

[@DavidLucas-so8rr]

Several individuals minimize the importance of counsel until their own feelings become overwhelming. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.

[@Bridget-l7p]

That makes perfect sense; you seem to have a better understanding of the market than we do. The coach is who?

[@DavidLucas-so8rr]

'Laurelyn Gross Pohlmeier' 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.

[@trazzpalmer3199]

I just Googled her name and her website came up right away. It looks interesting so far. I sent her an email and i hope she responds soon. Thanks

[@NelisaMgobozi]

I appreciate the knowledge shared in this conversation. I am so grateful to have come across this.

[@senthilnayagam1734]

Generous and forgiving person

[@EcomCarl]

Scott's approach to decoupling self-worth from spending is enlightening and crucial for fostering a healthier financial mindset. Emphasizing the power of compounding interest and living below one's means can significantly accelerate financial independence. 💡

[@kaligirl1980]

Good interview Erika. Also, I never get tired of hearing Scott Galloway.

[@toddrowley5605]

Wealth = I AM Grateful.

[@clemfarley7257]

He’s very good and this isn’t a criticism, but only in America can we mix decency, generosity, friendship, niceness with getting ahead. True friendship is separate from personal career success. Facts.

[@rickyc6463]

Thanks for introducing me to Scott such a class act…. I’m definitely going to implement many of the ideas discussed. Great interview ❤❤❤❤

[@brianthacker6926]

Great stuff here. Erika, you always have quality people and content.

[@nancydudenhoefer430]

I found this guy to be fascinating and his wisdom especially to those of you who have "time" most insightful.

[@iananderson8288]

I don’t think most people don’t invest because they are afraid, it’s because they have virtually zero dollars left after their immediate expenses

[@DonaldMark-ne7se]

Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.

[@JacquelinePerrira]

I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value

[@Jamessmith-12]

The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.

[@kevinmarten]

please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?

[@Jamessmith-12]

'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.

[@kevinmarten]

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.

[@candecarro]

Amazing. I’ve never seen nor heard of Scott before.

[@swanbaby62]

People in their 60’s and 70’s who don’t have money…likely never had sufficient money. Those people planned on finding jobs with pensions but the pension system changed to 401k’s. Also good jobs, middle management, started to disappear. These are tail end boomers. If wages have been stagnant since the 70’s, this is the generation impacted by this. Now they are single and the fastest group of homeless. Homes were not bought because they were always in low wage jobs. Some think that the economy just started to tank. It has always been bad-for many.

[@avayu2289]

I have no debt and am my own boss. More than anything, financial success and independence mean self respect and tangible high net worth. Unlimited freedom, truth and happiness!

[@lisajane4330]

Great interview, so much great advise, thanks Erika. Totally agree with modelling behaviour for your children, this is a great reminder for me to be aware of for my children.

[@delayedgratification581]

Lots of quality advice in this one!

[@hellothere2744]

Very humble and calming voice. It was super nice to listen to Scott, but I do have some personal critique of my own. Doesn't this lead to the typical stereotype of having a stable income and making good money, but living so humbly that you end up with a lot of savings at a very old age? Sure, if you are trying to secure generational wealth then that's perfect, but I would enjoy a nice and somewhat expensive vacation, educating myself further (usually using financial means to pursue my interests), planning a nice wedding etc.

[@EMan-cu5zo]

I am amazed how many people don’t even take advantage of the fact that you can actually make money you have saved even if it’s small aren’t putting their money in a MMF or high yield savings account. Every month I get paid on my savings. It’s not enough to live on but it definitely makes a difference.

[@rafalrocks]

The formula for success he proposes is a good one. I have an issue with the basic assumption though. He says that most people he meets have some talent that puts them in the top 10% or maybe even top 1%. I think there's considerable selection bias at play here because of who he is and the circles he frequents. MOST people will never be in the top 10% of ANYTHING, especially something that pays well. Pareto distribution and the bell curve are a real thing. I think most people come to that realization sometime in their 20s and have to make the most of the rest of their lives somewhere toward the middle of said bell curve. Unfortunately - and kudos to him for addressing this - the majority of people in the middle are being squeezed because of ever-increasing wealth inequality. We don't need influencers and experts telling us to focus on our talents - whatever they may be - we need to tax the sh*t out of the uber wealthy rentier class so that the rest of us working stiffs don't feel like total failures

[@SLYCKRYK]

I wonder why Erika didn't like your comment?

[@backcountyrpilot]

How can someone be “squeezed out by wealth inequality”? Are you prevented from building muscle because Arnold Schwarzenegger has more than you? The economy is not a zero-sum game!

[@tradespx9055]

Anybody can be in the 10%, there are millions of people that have achieved that and most of them started with nothing. I was homeless in my 20s after getting discharged from the military, so don’t tell me it’s not possible for anyone to do it. I didn’t get any help from any friends, parents, siblings, nobody. I did it all myself, with God’s help and a lot of hard work and elbow grease. I could’ve given up and been living in my car. Who knows I might be dead by now. Please don’t tell anyone that they can’t do it, you never know who that person might be. Try and lift them up instead for a change. Maybe you could be the reason that it happens for them. No one knows the one small thing that could change someone’s life for the better.

[@Aortadetroit]

The formula he is proposing is the only formula for average or below average earners. Financial success is relative. Galloway has always based his conclusions on the current reality which is super ugly right now for many if not a majority of people. He's in the moment and realistic. He regularly points out his advantages in life as a white male. That doesn't negate his philosophies here. It reinforces them...ie. young and of color? female?...well, it's the best it's ever been for you (100% True!). But this is what smart white guys do and you can too. The numbers might be much smaller for a Starbucks worker but the theory stands. It's AmeriKa. No affordable health care, eduction, housing, etc. Until that changes you better bet on living a long time and plan accordingly. That might mean no big wedding, no fancy cars or vacations. Just a good happy life focused on the real wealth of life, fun, natural activities, family and friends and the whole time your investments are on autopilot and in the same investments as Warren Buffet.$

[@sparklemotion86]

Amen @rafalrocks

[@AlanaBertozzi]

I was so moved by this interview!!!!!!! I really enjoyed it

[@ASMRMoneyMentor]

I love this❤ So tue from my personal experience building wealth. Thanks for posting this video!

[@the.firefighter.realtor]

What an Amazing podcast

[@jafrasar1]

What a rockstar Scott Galloway is.

[@winnetou9706]

Good podcast overall, the one thing that I disagree with is the discussion on index funds which I believe is a lot more subtle. If the world was made only of index funds and had no active managers/investors, there would be no way to know what the prices of companies should be, other than through self-reinforcing algorithms. The reason index funds do well is that there are too many active managers who decide where the prices of companies are with a lot of active work! While index funds take those prices as given, i.e. they use the work by the active managers implicitly and freely. But in a world where index funds take over there would be no such active pricing guidance. In such a world index funds create their own macro inefficiencies and their own macro-instability and active managers would start outperforming again. There is probably a limit point of market share where passive index funds no longer continue to be a good/efficient investments. I would suggest that people should have their own financial literacy and that takes time and effort.

[@anjosdomar269]

There's a paradox in that advice. It's true, it would work if we were content with our jobs and willing to work another 20 years, managing to save a few hundred dollars each month. However, I presume most of us are not in that situation. I've never lived in the US, only in Brazil and Portugal, where a normal-sized apartment's rent exceeds the minimum wage. Essentially, if you're single, you can't afford to live alone. For couples, it might be easier, but many young adults despise working over 50 hours a week for minimum wage, making a 20-year plan seem far-fetched. We can only save if our basic needs are met: transportation, healthcare, food, housing, and lifestyle. Everyone I know, including myself, is struggling to cover these, let alone set aside money when it seems we can barely make it from paycheck to paycheck. And living like a monk for 20 years doesn't seem reasonable either.

[@stevewhite791]

Great video

[@candecarro]

He’s great. And a 6’5, blue eyes, finance guy to boot.

[@kasomeno]

I love the S & P 500

[@josephg.3370]

That's what I cannot stand about a lot wealthy people. They think it's all themselves. They cannot appreciate the good fortune they have. Some people, no matter how hard they try, cannot pull themselves out poverty.

[@eunicef1]

Great interview. You interview well. Thanks, Scott.

[@cristinelpricop]

Thank you!

[@CraigBarrettEsquire]

Great content. very inspiring.

[@darealsgf468]

Been investing since last year i’m currently 21 and I’m still early but this works so imagine doing this for years to come 🔥💯

[@greenwallscapes]

This is worth the time. This guy has such an interesting perspective!

[@joepushman4171]

I remember The Sizzler, I probably ate there once a week back in the day.

[@canrightc]

Scott provides excellent advice.

[@Pat_laura22]

This bank crisis is so far from being over. Anyone who has been around for longer than 12 years, knows a credit crisis isn't over in two weeks. Makes me laugh seeing folks thinking this was all over so quickly. We are seeing a credit contraction that is gonna lead to a major contraction.

[@Alex_will12]

In my opinion, some of these banks were attempting to restructure their bond portfolio, which involved selling their low-yielding bonds despite the potential loss, and compensating for it by buying higher-interest-rate bonds on the open market.

[@AndersonNoah-o6l]

I have learned to not trust corporations. I was badly hit by the '08 financial crisis. Since 2019, I've just been focused on investing through a financial advisor, and it has been paying off, and I'm never going back to banks full time.

[@campelm]

I'm intrigued by your experience. Could you possibly recommend a trustworthy advisor you've consulted with?

[@AndersonNoah-o6l]

Iynne Marie Stella 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.

[@geraldhoward6351]

Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance

[@getfinfab]

Brilliant advice love that you’re doing a challenge to get people started

[@NeonNightmares1]

your videos are so great, thank you, always really great content 🥰🥰🥰

[@jannorell6049]

Thanks for a great episode. BTW- are you of Swedish heritage? Your name is even spelled like in Sweden. All the best 😊

[@videogroove]

I like Scott. The criticism I often come back to with his talks is that while he has some great & wise wisdom its mixed with some very opinionated perceptions but his tone, delivery & confidence makes what he says all come across as facts but some are just his views. His suggestion that the super-wealthy would need to be of higher Character because its whats needed to build a lot of allies along the way & get to that level is simply not true, history tells us that. Madoff, Bezos, Musk,Trump, Putin, etc are great motivators & or conmen who people feel they can put their trust in but that has 0 to do with them being of good character.

[@dianncotterell5531]

I love the idea of gamifing saving

[@yvonnehyatt8353]

If possible-print it out on the video -The wealth formula thanks.

[@Ozzilaa]

This was massively good holllyyy foookkkk lfgggggg!!

[@julieinfante22]

Great talk! Helped a lot.

[@Rosecransadventures]

Well not that Scott predicted nvidia sell off, but look at the dump and just goes to prove today his methods are correct!

[@tmbara]

THIS IS GOOD CONTENT

[@patrickbrennan736]

I watch your short clips are good

[@foreignermakingmoney-phili1458]

great vid

[@kasmstamps1897]

First off 5:34 slowly. Before July 29 2024 buy 10 TSLA. About 2k now (April). Then forget you have them for at least 10 years (and don't even think of it as an asset - your holding it trust for your future self - to yourself always be true). Meanwhile, if situation allows; appreciate home cooking, wear outfits 30 or more times a year, choose to live smokefree, only one subscription at a time, ... Just being able to watch YT you are more fortunate than most in the world.

[@sebastianw891]

Utter gold

[@BrigetGstar]

One of the most briIIiant investing advice i have ever gotten on youtube came from watching an interview with Julianne Iwersen Niemann on CNBC. Indeed, A solid investment strategy is like a well-planted tree it can withstand storms and still grow strong..

[@SophieLoschy]

I can only speak from my experience when I advise seeking professional advice. It looks like a smart bet if you don't know where to get an experienced one, but if you don't know anything about the market.

[@joeyparra3937]

Scott Galloway 💯🥃

[@DoctorChadd]

Awesome wisdom in this video

[@zacharyfair6738]

25:00 did he say his son walk away with his girlfriend ?

[@Mrshawnizm]

thats what im tryna figure out lol bahaha but we must stay focused.

[@anuajed4]

No, he said his oldest son came marching out his girlfriend, ie they had a baby and he wasn't as financially prepared for this moment as he wanted to be.

[@pwatom22]

Yes absolutely, however... When everyone starts doing the same thing then the yield comes down, like competition in business. We have the greatest wealth divide ever, debt as a percentage of GDP getting out of control. Real estate really became a commodity over the last 15+ years. Getting cash positive return renting out property becoming harder. Absolutely you have to understand how the game is played ! And watch out, the rules will change over time.

[@Susanhartman.]

The whole point of wealth for me is freedom. My magic number in my mind is 5 million needed at 65 to not worry about anything. Am i better off investing a good portion of my income into stocks or saving my earnings to achieve this goal?

[@KarlLarsen]

At 25:00 does he say his son yelled at his girlfriend? it sounds like he said my son had the poor judgment to “ march out” at my girlfriend. Does that mean they got in a fight or he made a pass at my girlfriend? I think we are all dying to know what he said. Because it’s the Apex the story.

[@ryankemp3602]

Marched out of his girlfriend. In other words, he had a kid.

[@marsbar5366]

@@ryankemp3602 That is so weird how he says "his son had the poor judgement". His son was born.

[@milo23-v4s-z7y]

Beautiful humain been this man ❤

[@howardbrammer4871]

Prenup dude!!

[@aungkhaingtun8239]

Amazing interview again Arika. Just chewing up your long form contents.

[@BarnabyBarry]

An average CALPERS pension is over $100K USD w COLA work 30 years and live until 90-make over 4 million guaranteed for life! Then you feel financially comfortable and you help people financially for the rest of your life!

[@chrislastnam6822]

Cars go down in value but houses go up.

[@Omgulie]

How do I buy low cost index

[@ThePatriotPirate]

If they made 80,000 back in the 90s they were basically a millionaire because I know ZERO people that made that much then

[@realdeal139]

Love Erika’s video, but for some reason KZbin keeps unsubscribing me to her channel

[@chriswebb4797]

I can see some of his points, but I would argue two things. Diversity in the market will raise allow for wealth security, but it does not build it. As for stoicism, this is not realistic for many young men who are under 6' who have to make an impression to find a partner. I would even add, that a guy who spends some cash on their clothing and appearance could find a relationship which will inspire them for decades, which will raise their income and their wealth level.

[@chriswebb4797]

Ok, later in the video he addresses some of this which is good.

[@Omgulie]

How do I invest without these the other guys?

[@tomv7986]

The only people I know that are ahead are people who got support from family. People who need to do everything on their own in 2024 are constantly behind the curve.

[@lisajane4330]

Same, even my Dad got help by his Dad with getting into the housing market in the late 70's. Not playing victim but my husband & I haven't had that luxury from any relative.