Scott Galloway: Build Wealth or Die Trying

Ойын-сауық

Join Michael Batnick and Downtown Josh Brown for a wide-ranging conversation with Professor Scott Galloway, author of the new book The Algebra of Wealth.
Read Scott's Blog: www.profgalloway.com/
Buy Scott's Book: www.amazon.com/gp/product/059...
► 00:00 - Intro
► 00:51 - Scott's New Book
► 02:20 - Money Mistakes
► 03:56 - How Your Relationship with Money Changes Throughout Life
► 07:12 - Experiencing Rock Bottom
► 09:30 - The Worst Advice Young People Get
► 14:58 - Advice for People in their 20s
► 18:01 - Finding Your Retirement Number
► 23:23 - How to You Keep Your Kids Grounded and Motivated
► 26:23 - The Best Skill for Young People
► 29:50 - The Billionaire Class
► 31:19 - Income Inequality (and why young men are falling behind)
► 34:12 - Writing a Book
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Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Josh Brown are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management.
The Compound Media, Incorporated, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here ritholtzwealth.com/advertisin.... Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information.
Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: ritholtzwealth.com/podcast-yo...
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Пікірлер: 236

  • @dinosaurdude5668
    @dinosaurdude56682 ай бұрын

    I wish I had KZread back when I was in my 20’s so much wisdom is free for the taking now.

  • @robertmurphy926

    @robertmurphy926

    2 ай бұрын

    I could not agree more

  • @davidashcroft5602

    @davidashcroft5602

    2 ай бұрын

    i was thinking this a while ago.. but the truth is i wasn't ready to listen

  • @dinosaurdude5668

    @dinosaurdude5668

    2 ай бұрын

    @@davidashcroft5602 you know, I also could see the younger ‘me’ thinking I knew it all.

  • @JimMcNutty

    @JimMcNutty

    2 ай бұрын

    Takes some people longer. Like myself until I was 30

  • @prettybird8942

    @prettybird8942

    2 ай бұрын

    Hoping to get stopped on the street by a YT representative asking how YT shaped my life. - Profoundly

  • @Meishach2112
    @Meishach21122 ай бұрын

    We were in tough financial shape at 30. Now at 40 we are comfortably wealthy and our kids future is provided for. It’s amazing what you can achieve in a decade.

  • @aaronward6466

    @aaronward6466

    Ай бұрын

    Yes agree - people dont realise what they can accomplish in what is literally a short period of time. In 10 years, my wife and I have gone from owning literally nothing but a car to being debt free, a home, a small business, 3 kids, 3x cars (Including a classic) and 2x FT jobs + investments. 15 years we have been together, and it all comes down to smart decisions, living within your means, and not consuming crap and buying useless items. 🎉

  • @rezlogan4787
    @rezlogan4787Ай бұрын

    I was never a Type A guy. I grew up with health problems and learned fast I am not going to easily compete. I took the slow balanced risk approach to life. I didn’t pick any fights, I earned two black belts. I didn’t leave school to be a hard charger, I earned a Ph.D. I never leveraged debt, I owe NOBODY. When I started stacking cash, I put 20% into retirement and own the whole market with a slant toward value. Ironically, my risk aversion has put my family in a position to truly compete and succeed. Don’t confuse your overconfidence with merit. Society is full of losers who thought they had a special fast lane to success. Only the gradual principled way will get you where you want to go and it isn’t easy for anyone.

  • @Toymachine2207

    @Toymachine2207

    Ай бұрын

    says the person who has them ability to go to higher ed and get a phd and land a high salary job to stack cash.

  • @jasonchan3645
    @jasonchan36452 ай бұрын

    Every time I listen to Scott Galloway, it feels like a eureka moment for me. One of the most resonant episode of The Compound. Thank you

  • @michaelmiddleton3311
    @michaelmiddleton33112 ай бұрын

    Professor Galloway!!!! Nicely done guys! Always hear myself in his words. I cashed in my 401K in my 20's. Threw on a backpack and travelled the world...and met the world. It was the greatest time of my life! Fiscal responsibility came in my 30's. It's never too late.

  • @andrews57217
    @andrews572172 ай бұрын

    Wow! My favorite compound ever. Kudos to Josh and Michael for limiting the banter, asking great questions, getting vulnerable, and making this an incredibly valuable 40 mins of my time. I’ve already sent it to many people, including the younger men in my life. Scott truly is one of the few public male figures that models the healthy masculinity I strive for. He’s vulnerable, compassionate, kind, yet disciplined, ambitious, accountable, resilient and wise. I’ll be buying his books after listening to this.

  • @sburson05
    @sburson052 ай бұрын

    Every young man under 30 should watch this! Great episode, love Scott Galloway!

  • @BradChambers-km7ne
    @BradChambers-km7ne2 ай бұрын

    This was one of the best podcasts I've ever heard- not just from the Compound and Josh and Michael, but anywhere. So thought-provoking, in fact, I will listen again with a legal pad and pen handy and take copious notes. Thanks Josh, Michael and especially Dr. Galloway

  • @TheCompoundNews

    @TheCompoundNews

    2 ай бұрын

    Love to hear it! Appreciate the feedback!

  • @adamj8385
    @adamj83852 ай бұрын

    Our daughter was born in the summer of 2009 also. I had to cancel our health insurance right afterwards, money was beyond tight. I'm so glad the banks got their bailout though...

  • @beckybnyc322
    @beckybnyc322Ай бұрын

    Starting over & rebuilding @ 40 so this convo def reminds me it’s possible 🙏🏼

  • @kid_a6859
    @kid_a68592 ай бұрын

    Wow! Huge get with Dr. G. Nice job Compund.

  • @abhis9353
    @abhis93532 ай бұрын

    Amazing podcast. Things I liked 1. Importance of telling people about trade-offs. That little league coach example was spot on. 2. Acknowledging the luck portion 3. Focus on stoicism 4. I really liked the comment by the host where he mentioned that its the parents who would have guided the children away from nvidia and towards GM. It tells you how important is to make your own decisions 5. The importance of money. I think the value optionality provides in today's world is priceless. It can save you from ruining your life due to divorce/mental breakdown/accidents etc.

  • @lurkingcaro
    @lurkingcaro2 ай бұрын

    "My heart rejoices at the sight of all the things I do not need."

  • @moogoogaipan3089

    @moogoogaipan3089

    2 ай бұрын

    bc other people are buying it and helping my stocks

  • @lurkingcaro

    @lurkingcaro

    2 ай бұрын

    @@moogoogaipan3089 yes, it is my philosophy selling things on eBay as well 😁

  • @robveltre8897

    @robveltre8897

    2 ай бұрын

    That’s an awesome quote! Could you tell me who wrote it?

  • @lurkingcaro

    @lurkingcaro

    2 ай бұрын

    @@robveltre8897 Arenius, a man from the 5th century.

  • @robveltre8897

    @robveltre8897

    2 ай бұрын

    Thanks so much. I’ll add him to my research list.

  • @1970SS
    @1970SS2 ай бұрын

    This one dropped at the right time. Thanks fellas! Shout out from Queens, NY!

  • @polish2x91
    @polish2x912 ай бұрын

    Scott is such a candid and genuine person, the fact he’ll do a bigger show like this or channels with like 3k subscribers is a real testament to his character

  • @unearnedinc
    @unearnedinc2 ай бұрын

    This is hands down one of the best episodes The Compound has ever done. We have added a link to this video in our knowledgebase. Every person under 25 needs to watch this video and we will be buying the book.

  • @TheCompoundNews

    @TheCompoundNews

    2 ай бұрын

    Thank you!!

  • @sameluckyguy
    @sameluckyguy2 ай бұрын

    Scott Galloway offers great insights. I listen to him all the time.

  • @robertmurphy926
    @robertmurphy9262 ай бұрын

    I spend hours a day consuming financial content and I can’t remember the last time I was this motivated.

  • @larslphillips
    @larslphillips2 ай бұрын

    One of my favorite Compound interviews you’ve ever done. Bravo to all involved.

  • @ryanpatrickmcmullin6620
    @ryanpatrickmcmullin66202 ай бұрын

    One of my favorite guests so far. Big fan of this guy

  • @TheCompoundNews

    @TheCompoundNews

    2 ай бұрын

    Thanks for watching!

  • @voicification
    @voicification2 ай бұрын

    His reference around inequality really resonated with me. I had the option to go to Amazon after b-school eight years ago. I didn’t pick it and went to do consulting - I am not hurting for money but my classmates who went to Amazon or the other FAANGs absolutely killed it and are atleast 1-2M ahead net worth wise over these 8 years.

  • @crackerbarreIkid55
    @crackerbarreIkid552 ай бұрын

    Two halves of my podcast life colliding. Looking forward to watching/listening. Thanks for all you do, Compound team!

  • @jeffossola668
    @jeffossola6682 ай бұрын

    Really like Prof G even though hes kind of full of himself he still self depricates to offset the smarm. Great job boys 🎉

  • @danboruchowitz9803

    @danboruchowitz9803

    2 ай бұрын

    Always full of himself.

  • @paulbrereton5149
    @paulbrereton5149Ай бұрын

    Arguably, the best 40 minutes I've spent listening to a podcast. I'm new to Scott, but man oh man, talk about the amount of value on a per word basis. Just wow!!!

  • @irmazandl
    @irmazandl2 ай бұрын

    FANTASTIC interview. Great podcast as usual.

  • @CliffG
    @CliffG2 ай бұрын

    Two of my favorite podcasts collide to make one great episode. I listen to Galloway twice weekly on Pivot. Another killer episode, boys!

  • @jonnagap87
    @jonnagap872 ай бұрын

    Loved the episode! Just wish more young people are aware of these key facts. It always seems like people are learning of these tips 10-15 years too late

  • @krizzay95
    @krizzay952 ай бұрын

    This was really inspiring for me as a 30 something year old man who feels like I got serious about life late in life, this video gave me a feeling of relief reminding me that I have time... I may have to work harder longer or go the extra mile but it's not too late

  • @johnsterling7447
    @johnsterling74472 ай бұрын

    Please, please, please, if you're a young person looking for direction, listen to this guy. His experiences are genuine and his advice practicle. I think he's at his best when he describes things you should and shouldn't be doing in your 20's.

  • @randconfig8626

    @randconfig8626

    Ай бұрын

    He has a lot of good points, but he's pretty disconnected from the struggles of poor people.

  • @johnkelley1426
    @johnkelley1426Ай бұрын

    Scott makes the perfect Buffet cases: 1) against inter-generational wealth transfers; and 2) for high estate taxes. Without citing it, Scott's reasoning with his kids, shows why family wealth dies by the 3d generation - the spoilt brats lost motivation and the knowledge gained from hard knocks.

  • @Sflrex
    @Sflrex2 ай бұрын

    Wow, great episode. Josh & Michael had great questions and Scott Galloway was awesome.

  • @depietri1
    @depietri12 ай бұрын

    This is one of the best KZread/podcast videos I’ve ever seen And I would say it’s in the top three of the ones you made if not, the number one best video podcast you guys have done Thank you, Josh and Michael😊

  • @SMTraz
    @SMTraz2 ай бұрын

    All these Monday surprises are awesome. Keep it going!

  • @davidwysocki1004
    @davidwysocki10042 ай бұрын

    This was an excellent show! Professor Galloway's comments and observations were very interesting (and spot-on). Thanks, Josh and Michael, for this very special conversation with Professor Galloway. Great stuff!

  • @jasontysoe138
    @jasontysoe1382 ай бұрын

    Scott sounds more like a sociologist than a business Professor... thanks guys. Great show

  • @user-xr9ln5pf7y
    @user-xr9ln5pf7y2 ай бұрын

    I relate so much with this interview. Only son here, fortunately I can take care of my kids and parents. Started investing at 22 and am 42 currently, from Portugal. For me it's all about low beta , factors and diversification.

  • @oceansunsetak
    @oceansunsetakАй бұрын

    Best part of this podcast is Galloway's advice on moving on. My financial advisor in the 90s who represented a large Investment Bank sold bonds sold our Apple stock etcetera put it all in WorldCom our family lost everything. We took on the role of being victims , all our money lost constantly whining about our investment advisor and Wall Street. Eventually I got a divorce. After a year of wallowing in self-pity I decided to move on build another house for myself and the kids. Started investing in 2013. 10 years of good market returns I no longer have to worry about money. I have a nice girlfriend my three kids live nearby and I have a nice puppy my ex-wife recently told my kids: "it was easy for your dad to move on, for me it was very hard"

  • @BlackBuzzzard
    @BlackBuzzzard2 ай бұрын

    Galloway starts right off with interesting content!!!

  • @nmr440
    @nmr4402 ай бұрын

    I’ve been waiting for Prof G to show up @ the Compound. Dream come true! 🥳

  • @mrb552
    @mrb5522 ай бұрын

    That was a FANTASTIC interview. Loved it. 👍

  • @justinewert2166
    @justinewert21662 ай бұрын

    Love watching Galloway’s videos 🙌

  • @bonfire1484
    @bonfire14842 ай бұрын

    Big fan of Scott for years but I think he left out something important about reaching financial security. Moved out at 17, I was fuck poor in my 20's and worked my ass off to become fairly "rich" and able to give my daughter a fabulous education, great vacations and an Ivy League education I paid for in cash as a single Mom. BUT-my secret for preserving wealth is to LIVE BELOW MY MEANS and really evaluate the VALUE of everything.. Like Scott, in my mind I am always one step away from "poor" (you never shake that) so I value and care for every single thing I have, and the feel the richest when I walk into any dept. store and walk out with NOTHING. Not because I can't afford it anything I want. But because I don't really WANT because I don't really NEED.. That's what young people have to internalize. Know when enough is good enough and be grateful. Not spending is SAVING.

  • @scmah174

    @scmah174

    2 ай бұрын

    Heavy old-school truth 🙌🏼

  • @ryanimhof2661
    @ryanimhof2661Ай бұрын

    Nice to see a place still exists where we can have intelligent conversation. Great interview.

  • @kristinek7436
    @kristinek74362 ай бұрын

    A fantastic interview. I agree with EVERYTHING Scott said. I was born in the 50"s and as a woman nothing was handed to or expected of me. Right now. I am in my beautiful village in France which I have owned for over 30 years where everyone knows me and we all volunteer to keep it wonderful. Meanwhile, I also have a house in Naples Florida. I had a wonderful career. and traveled the world in part because I had a good public school education. I am not rich, but am financially secure and consider myself fortunate and happy. Be grateful, be hopeful and build from there.

  • @bradmtb1
    @bradmtb12 ай бұрын

    Great interview guys! Just ordered 2 books for my 24 & 25 year old sons.

  • @vreneli79
    @vreneli792 ай бұрын

    A mash up of 3 of my favorite podcasters! Thank you

  • @bonkerscards
    @bonkerscards2 ай бұрын

    This was incredibly value-packed. Thank you for this!

  • @jeffreyvolyn4529
    @jeffreyvolyn45292 ай бұрын

    Wisdom at its finest!

  • @cliffpeebles9705
    @cliffpeebles97052 ай бұрын

    ► 14:58 - Advice for People in their 20s Every high school senior in American should hear this. I wish I did.

  • @midwestcannabis

    @midwestcannabis

    2 ай бұрын

    Party On! 🥳🥳🥳🥳

  • @nicolesamss

    @nicolesamss

    2 ай бұрын

    !!!!!!!!!!!

  • @chahalpawanpreet
    @chahalpawanpreet2 ай бұрын

    Love seeing more content from Downtown Josh Brown

  • @mikemuller4019
    @mikemuller40192 ай бұрын

    BRAVO CW/F REALLY GREAT GUEST, TY.

  • @mikewebster3126
    @mikewebster31262 ай бұрын

    Love this - pride myself on not being a super high income earner but living by these standards and living a life with more financial freedom regardless of income

  • @johnanthon4264
    @johnanthon42642 ай бұрын

    This one hit home! Thanks fellas ❤

  • @stephenreich4102
    @stephenreich41022 ай бұрын

    Great Podcast! We were a mess as young man. Sometimes it's just about who you know and working hard.

  • @mitchRaph10
    @mitchRaph102 ай бұрын

    Great guest!

  • @ghostpos
    @ghostpos2 ай бұрын

    Scott is the best

  • @celestial_sphere3
    @celestial_sphere32 ай бұрын

    Great show guys, loved this one

  • @SteveDurante
    @SteveDurante2 ай бұрын

    Thoughly enjoyed that, as usual, Josh is miles above others.

  • @prettybird8942
    @prettybird89422 ай бұрын

    Everyone is trying to separate you from your money. Be prudent and save for a healthy, wealthy better future.

  • @supremesalez9635
    @supremesalez96352 ай бұрын

    Very informative episode fellas. Different than usual but enjoy the thought and conversation.

  • @dsnyder649
    @dsnyder6492 ай бұрын

    Great episode! Well done guys!

  • @Miggy2j
    @Miggy2j2 ай бұрын

    Loved it, nice work

  • @ryepat24
    @ryepat242 ай бұрын

    Best finance podcast in the world and its not even close. One thing I would love to ask the Professor: he talks passionately about how unfair the current environment is for young people and other specific groups and the impact that has on their ability to succeed. He rattles off stats to show how significantly these groups are struggling. But he never mentions anything about accountability. He seems to come up with a list of greivances of why young people cant succeed but fails to even mention the role of accountability. Stoicism - which he references - is all about life NOT being about what happens TO you, but how you respond. For him to only discuss how unfair things are and not discuss the responsibility of individuals to take ownership and focus on what they can control (their response, their attitude, their character) and not those things beyond their control just seemed like a huge miss.

  • @GoodwalkSpoiled
    @GoodwalkSpoiled2 ай бұрын

    One avenue to wealth not mentioned is both spouses working to achieve financial security and independence. Two professional earners combining forces can produce substantial income and build wealth very effectively.

  • @Reutzel507
    @Reutzel5072 ай бұрын

    Just pre ordered the book.

  • @captainviper3888
    @captainviper38882 ай бұрын

    Finally!!!

  • @mplafferty
    @mplafferty2 ай бұрын

    These 3 guys dominate my podcast feed.

  • @seanharrington4768
    @seanharrington47682 ай бұрын

    Awesome !!!

  • @Harold1526
    @Harold15262 ай бұрын

    Amazing episode!

  • @tiny-dash
    @tiny-dash2 ай бұрын

    no fucking way!!!! finally scott is on the compound!!!!’ WOOOOO BEST DAY EVER

  • @TheCompoundNews

    @TheCompoundNews

    2 ай бұрын

    Glad you enjoyed, Scott was great!

  • @kodiakgriz2296
    @kodiakgriz22962 ай бұрын

    Absolute great video..

  • @dollarette
    @dollarette2 ай бұрын

    How to become wealthy: live in the USA, save money and invest, and most importantly, don't get divorced.

  • @SamuelRDemers
    @SamuelRDemers2 ай бұрын

    Awesome interview ! 🙌

  • @TheCompoundNews

    @TheCompoundNews

    2 ай бұрын

    Thank you!

  • @lukeslingher6043
    @lukeslingher6043Ай бұрын

    This was a great episode.

  • @crohmer
    @crohmer2 ай бұрын

    love this!

  • @leestack
    @leestack2 ай бұрын

    Great interview -

  • @brianhurst2740
    @brianhurst27402 ай бұрын

    Excellent show!

  • @TheCompoundNews

    @TheCompoundNews

    2 ай бұрын

    Glad you enjoyed it!

  • @aliasoma
    @aliasoma2 ай бұрын

    So glad I'm a minimalist.

  • @supermutant
    @supermutant2 ай бұрын

    Really good stuff

  • @BaroloBartolo
    @BaroloBartolo2 ай бұрын

    26:57 the only thing I’m truly good at and why I went to law school 😆 Now after years of litigation and trial work I’m looking to pivot to a more client facing position to capitalize further 👊

  • @citylightproperties2702
    @citylightproperties27022 ай бұрын

    💯 Great content

  • @Sirpostsalittle
    @Sirpostsalittle2 ай бұрын

    Let’s go

  • @philipdavis5309
    @philipdavis53092 ай бұрын

    Great Interview!! Keep the high quality content coming.

  • @sameluckyguy
    @sameluckyguy2 ай бұрын

    Great conversation

  • @AnomalyHQ
    @AnomalyHQАй бұрын

    Great conversation!

  • @smitd4ty
    @smitd4ty2 ай бұрын

    Great episode 😊

  • @troyhebert5837
    @troyhebert58372 ай бұрын

    Prof G on the Compound? Awesome!

  • @TheCompoundNews

    @TheCompoundNews

    2 ай бұрын

    You know it!

  • @troyhebert5837

    @troyhebert5837

    2 ай бұрын

    Super legit. Congrats on that.

  • @jaygrant5039
    @jaygrant5039Ай бұрын

    Book purchased.

  • @andrewcrook2240
    @andrewcrook2240Ай бұрын

    Great advice

  • @midwestcannabis
    @midwestcannabis2 ай бұрын

    How did I miss this live???!!! 😮😮😮😮😮😮😮😮😮

  • @30AndAWakeUp
    @30AndAWakeUp2 ай бұрын

    Great stuff! Didn’t realize you guys had a KZread channel.

  • @js_henderson
    @js_henderson2 ай бұрын

    LFG!

  • @jsfnnyc
    @jsfnnyc2 ай бұрын

    OMG Scott Galloway!! Great seeing you all together.

  • @bojackson6725
    @bojackson67252 ай бұрын

    DownTownJoshBrown is The Best Money Manager in The Universe🦄🦄🦄🦄🦄🦄

  • @milktop1
    @milktop12 ай бұрын

    I like most of what he’s saying. I’m not a fan of Harvard and its policies.

  • @midwestcannabis
    @midwestcannabis2 ай бұрын

    🥳🥳🥳 Party On With The Compound 🥳🥳🥳

  • @JDawgstwothousand
    @JDawgstwothousand2 ай бұрын

    The best crossover since the Avengers.

  • @TheCompoundNews

    @TheCompoundNews

    2 ай бұрын

    Thank you!

  • @forrestbehr8778
    @forrestbehr8778Ай бұрын

    Fathers tell your daughters: find someone who loves you as much as Scott Galloway loves the sound of his own voice.

  • @elro5899
    @elro5899Ай бұрын

    great video

  • @patrickmcmahon3425
    @patrickmcmahon34252 ай бұрын

    Is this going on Spotify

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