How to Achieve Economic Security | Scott Galloway's Ultimate Guide to Financial Well-Being

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James Altucher

James Altucher

Күн бұрын

In this engaging dialogue on the James Altucher Show, Scott Galloway, author of 'The Algebra of Wealth', shares invaluable insights on achieving success through strategic investments, personal growth, and embracing the power of networking. Highlighting key themes from his book and personal experiences, Galloway discusses his transition to London, investment strategies focusing on low-cost index funds for steady returns, and the profound impact of high-quality associations and smart life choices on long-term financial security. The conversation also explores overcoming failures, the significance of hard work, and the allure of New York City as an enduring icon, while cautioning against the risks of day trading and the pursuit of quick wins in the stock market. Galloway's narrative is a comprehensive guide on cultivating wealth, wisdom, and winning strategies in both personal and financial realms.
00:00 Unlocking Opportunities: The Power of Networking and Character
00:16 Introducing The James Altucher Show: A Dive into Wealth and Strategy
00:29 Scott's Life Update: From NYU to London
02:56 The Algebra of Wealth: Strategies for Financial Success
05:40 City Life vs. Opportunity: Navigating Economic Growth and Personal Success
09:56 The Realities of New York Living: Challenges for the Young and Ambitious
11:16 Finding Your Path: The Intersection of Talent, Passion, and Opportunity
29:12 The Entrepreneurial Journey: Embracing Rejection and Learning from Failure
34:13 The Power of Networking and Wealth Building
35:59 Maximizing Opportunities: From Mentorship to Employment
37:44 Strategies for Career Advancement and Financial Success
47:45 The Importance of Saving and Investing Wisely
55:18 Navigating Career and Financial Challenges
58:20 Achieving Financial Security: Strategies and Real-Life Insights
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Пікірлер: 78
@nitetrainjames
@nitetrainjames 2 күн бұрын
Excellent heart felt interview.
@ismaelhall3990
@ismaelhall3990 29 күн бұрын
Mr. Galloway is a true teacher.
@ELDTAdventures-tp9jy
@ELDTAdventures-tp9jy 23 күн бұрын
who gave $100k to AOC . . .
@jmac1813
@jmac1813 Ай бұрын
Phenomenal interview. Should be taught in schools and spoken of every high school graduation. Thank you
@jutman17761
@jutman17761 Ай бұрын
There is a reason it won’t be…
@TheJamesAltucherShow
@TheJamesAltucherShow Ай бұрын
Maybe one day...
@rishiocity
@rishiocity Ай бұрын
Wow! This was such an insightful conversation. Thank YOU James/Scott! 🙌🏻
@TheJamesAltucherShow
@TheJamesAltucherShow Ай бұрын
Thank you so much!
@Matanumi
@Matanumi Ай бұрын
You know James I've heard of Scott on your pod many times before. I think this is the first one where you have more of a KZfaq presence. And look at how many more comments this episode has versus an average one. Scott's message and speaking is clearly moving a lot of people men and women alike. Interesting
@TheJamesAltucherShow
@TheJamesAltucherShow Ай бұрын
Thank you!
@RadicalNuance
@RadicalNuance Ай бұрын
James you’re a great business podcast host, IMO cause you’ve got a wide range of real world entrepreneurial experiences + you’re a writer + a chess player meaning you’re able to mix various intellectual bottles which make for a fine conversational cocktail! 👍
@TheJamesAltucherShow
@TheJamesAltucherShow Ай бұрын
Thank you! Glad you enjoyed the show!
@icinghappens
@icinghappens Ай бұрын
I love that the algorithm fed me this. Great pod 🧡
@TheJamesAltucherShow
@TheJamesAltucherShow Ай бұрын
Thank you!
@DelroyGill
@DelroyGill Ай бұрын
This is one of THE BEST pods I’ve heard EVER!
@TheJamesAltucherShow
@TheJamesAltucherShow Ай бұрын
Thank you so much!
@mikefatah
@mikefatah Ай бұрын
This is extremely useful conversation. Thank you Scott Galloway and Mr. Altucher!
@TheJamesAltucherShow
@TheJamesAltucherShow Ай бұрын
Our pleasure!
@davew4930
@davew4930 10 күн бұрын
No pretention just honest dialog.
@nickypatel8812
@nickypatel8812 2 күн бұрын
An analysis of Canada would be welcomed.
@BodyByBenSLC
@BodyByBenSLC Ай бұрын
21:00 my parents kicked me out. Let me sleep in my car for a season. I got a job and started making better choices.
@KiKi-te9yd
@KiKi-te9yd 18 күн бұрын
Wish Id been able to listen to. This guy in my 20s. I've made similar mistakes.
@duje618
@duje618 20 күн бұрын
6 or 8 percent yearly interest on deposits or dividend funds, how much after tax?
@EcomCarl
@EcomCarl Ай бұрын
Scott's insights on 'The Algebra of Wealth' emphasize the profound impact of building networks with high-quality individuals. It's a powerful reminder that our connections can significantly enhance our 'luck' surface area and open up new pathways to success.
@TheJamesAltucherShow
@TheJamesAltucherShow Ай бұрын
Thank you so much!
@adamcalhoun6683
@adamcalhoun6683 Ай бұрын
Some jobs the top 10% make exactly the same as the bottom 90%. Union meat cutters make the same, unless you move to a different state. You’ll have to own your own business to make more than what the union rate is.
@SenorJuan2023
@SenorJuan2023 Ай бұрын
First!
@bhilbert11
@bhilbert11 13 күн бұрын
He said he emailed the alumni of Tao? What is that?
@jamesleung0
@jamesleung0 28 күн бұрын
27:36 When you grow up with very little money, you tend to hyper-focus on economic security. Kids, who never struggled with the looming threat of poverty, will probably never develop the deep desire to over achieve or take risks for upward mobility.
@MTtroutfisher406
@MTtroutfisher406 28 күн бұрын
22:36 Scott’s advice is for people who are already mostly successful. He struggles to address the every man type person. He’ll admit he was lucky with his trajectory and doesn’t know how to repeat it or how it actually happened. Great discussion though.
@MartymcFly-zz2pg
@MartymcFly-zz2pg 20 күн бұрын
Hes in club med.
@benwintermute2804
@benwintermute2804 18 күн бұрын
What is the iron melting business? That sounds fun!
@oldschoolpanels
@oldschoolpanels Ай бұрын
I am the key master
@lindseym6534
@lindseym6534 5 күн бұрын
Tulsa was a bad example. Tulsa is on 🔥
@MeJonTheDon
@MeJonTheDon Ай бұрын
Family from New York, all left as soon as they could. Absolutely would never consider living in NYC ever.. Agree that NY might have greater opportunities, but perhaps counterintuitively, thus goes to show those outside of that place that have less opportunities and are successful are probably better at translating opportunity into actual success. Not trying to compete to live in an area subsidized by the kids of Chinese billionaires
@str1cklybizn3ss67
@str1cklybizn3ss67 20 күн бұрын
3 subway stops into brooklyn is still high priced yo.. get with the times XD
@awdheshpriyadarshi8037
@awdheshpriyadarshi8037 21 күн бұрын
Stockholm
@xNobleSavagex
@xNobleSavagex 13 күн бұрын
I think Galloway is a unique teacher. His advice is interesting and different. But he ain't talking to guys like me. Despite coming from a single mother household (like me), he described his 20s in very...VERY waspish terms. He had a super smart mom and had tons of mentors and upwardly mobile people around him. My parents had nothing to teach. I was marginally employed, no mentors, and mostly homeless for 20 years until I got my shit together. Saving and investing money, although smart, would have been a complete fantasy for me. Upper-middle class kids, listen to this guy and take notes. For you knockaround guys like me, find someone dumber to motivate you.
@janiecel
@janiecel 14 күн бұрын
Kids change everything. You think you know until you're holding a soul who is completely dependent upon you.
@TheJamesAltucherShow
@TheJamesAltucherShow 13 күн бұрын
Yes, kids are wonderful too.
@davew4930
@davew4930 10 күн бұрын
This guy attracts money honey to flies.
@TAGraham
@TAGraham Ай бұрын
yea james three hundred a month?? twenty four years ago?
@TheJamesAltucherShow
@TheJamesAltucherShow Ай бұрын
Yes, it's hard to believe right?
@TAGraham
@TAGraham Ай бұрын
@@TheJamesAltucherShow wild, 2.5 decades and 800-1000%
@matthewcaldwell8100
@matthewcaldwell8100 18 күн бұрын
Nothing this man says amounts to much ore than "be born before my generation destroyed the world." Oh, and index funds.
@JesseBerst
@JesseBerst 29 күн бұрын
Good interview and thoughtful questions. However, I stopped about halfway through because I was so tired of looking at the top of your head. I suggest you imitate Scott and look straight into the camera.
@EricBoston1992
@EricBoston1992 24 күн бұрын
I usually just listen while doing dishes/chores, driving, DoorDashing, working, etc. Because there’s not much visual value to discussions/interviews like this that I listen-to/watch: usually on topics like personal dev, economics, investing, crypto, history, politics, philosophy, etc. - I can either sit on my butt & stare at a guys face & shoulders, or just listen while I’m doing other productive things.
@devp895
@devp895 19 күн бұрын
lol 😂
@Merritt_Life
@Merritt_Life 18 күн бұрын
Don’t watch just listen then dummy
@caustinolino3687
@caustinolino3687 2 күн бұрын
23:30 "in an industry that will pay well" - this is survivorship bias. You can't tell in advance which industries pay well. Any industry that everyone knows pays well will attract so many people that it either no longer pays well or it has a super high failure rate.
@thru_and_thru
@thru_and_thru Ай бұрын
Not everybody moves to NYC with the sole intention of getting rich. Had NYC only attracted those types of people over the past few decades, the city would never have built the name it now has. The arts are what made this city cool let’s not forget….not the finance bros who worked at Morgan Stanley. The problem is not the arts have pretty much left as they can no longer exists in this city so what we have is a lot of people who are already rich, and a lot of people trying to join the club. Nothing wrong with trying to get rich of course but the sole has been stripped from the city as a result.
@DelroyGill
@DelroyGill Ай бұрын
But you have to be “richer” than 90% of places in the USA even to attempt to live here
@thru_and_thru
@thru_and_thru Ай бұрын
@@DelroyGill yep that is how it is today. The days of moving to NYC for artist (who are not supported by their parents) are pretty much over.
@HM-mw7cg
@HM-mw7cg 10 күн бұрын
“For the majority of our time on this planet our species has not lived past 35” - see this is what annoys me about Scott sometimes. Great insights generally but he is the embodiment of a western hardcore capitalist when it comes to the breadth of his knowledge. Life before America and market capitalism was not all medieval plague ridden societies, Scott. Humans were able to live healthy, relatively peaceful lives all over the place, from hunter gatherer societies to agricultural ones, from Japan to Aboriginal Australia and Patagonia. It’s a pedantic niche point, but I do think it speaks to Scott’s penchant for sweeping statements
@thecloudtechguy
@thecloudtechguy Ай бұрын
As a white guy I think these folks are a bit delusional. I do really well but the reality is not everything people do fro work is rewarding. If you want to make money by "financial gimmicks" then I agree NY is your place. On the other hand if you do real work like the trades, teaching, Info Tech, legal, medical at the worker level you will never be rewarded significanly nor will be wealthy most of the time. I did a long tech stint at Bloomberg. I always laugh about the "5 people you know..." theory, its always spoken by people that make their money running financial gimmicks, You know stock, hedge funds, real estate, tech start ups founders, etc.Love to what the top 10% of HVAC professionals, Teachers, Firefighters make in NYC.... Sure that will get you far. Lastly, they want everyone to believe that life is a zero sum game, its not...for most of the world.
@rafalrocks
@rafalrocks Ай бұрын
Huge opportunities in trades jobs? Spoken like a filthy rich New Yorker. I live in a working class burb of Chicago. Most of the guys I know are in trades. Tough way to bread on the table. Yeah, maybe 1 in 10 has his own business and makes a decent living but nothing like what Scott made a killing at. Give me a break
@Matanumi
@Matanumi Ай бұрын
Yeah.... totally depends on the city and the trade. Union or not etc. As someone who works on the industry I see it all- broke TFWs doing labour (or women even) and the richest bosses flaunting their formen lunches. Its all over the place on who makes money and who doesn't
@kambasuvereroberson-vc7yf
@kambasuvereroberson-vc7yf Ай бұрын
Scott the man!🎉
@kambasuvereroberson-vc7yf
@kambasuvereroberson-vc7yf Ай бұрын
Scott the man!🎉
@kaligirl1980
@kaligirl1980 Ай бұрын
In the SF Bay Area, HVAC professionals and electricians can make six figures after they get the commercial experience. I guess it really comes down to where folks in trades live and work.
@rafalrocks
@rafalrocks Ай бұрын
@@kaligirl1980 sure ofc. This is realistic. Also, you’re not breaking the bank making that in SF
@DrLusEnglish
@DrLusEnglish 26 күн бұрын
You cannot achieve your personal financial success while your country achieves financial default
@johnnymartinARTIST
@johnnymartinARTIST 18 күн бұрын
just like topic he chooses mr. G goes out of focus....
@philmaturanodrums
@philmaturanodrums 8 күн бұрын
This guy lives in a Bubble LOL
@danieldpa8484
@danieldpa8484 26 күн бұрын
Western arrogance to think London & Amsterdam only worth it cities in Europe - Vienna, Prague, Budapest, Warsaw - these cities are top notch
@MegaMOUNDS
@MegaMOUNDS 25 күн бұрын
It's not arrogance, it's from experience. There's also nothing 'western' about it.
@danieldpa8484
@danieldpa8484 25 күн бұрын
@@MegaMOUNDS “experience” staying in your own bubble is no experience at all, it’s arrogance
@MegaMOUNDS
@MegaMOUNDS 25 күн бұрын
@@danieldpa8484 Warsaw can't hold a candle to London's finance industry or opportunity, champ.
@tertainment414
@tertainment414 19 күн бұрын
I think you're being arrogant here. He's not talking about the cities which are "worth it". There are plenty of great cities that are worth living. What he is talking about is living in the hyper commercial cities of the world like New York City, London, Hong Kong, Tokyo etc.
@mobdroitchmobdrovitch9633
@mobdroitchmobdrovitch9633 29 күн бұрын
These guys are broke and giving financial advice Wow seriously !!!
@kimchan7189
@kimchan7189 3 күн бұрын
Where is the beef? Get to the point. Going all over the place.
@HM-mw7cg
@HM-mw7cg 11 күн бұрын
I like Scott but he’s no economist. The stock market is not the economy, equality is rising, spending power is down. His wealth privilege is showing. Has no idea how the working and middle class live anymore
@2000dpdpdp
@2000dpdpdp 21 күн бұрын
This dude only cares about Kids in New York lol
@angelique935
@angelique935 21 күн бұрын
You can't truly possess real sustenance, wealth, and wisdom without living according to the Holy Torah - the Tree of Life reality.
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