Scott’s Personal Finance

Scott’s Personal Finance | Prof G Markets

Рет қаралды 149,215

Күн бұрын

In a sweeping conversation, Scott shares the source of his anxieties around money, how he thinks about money and marriage, his approach to spending, and his financial plan for his death. Finally, he answers one big question: is wealth worth the work?
Timestamps:
00:00 - Number of the Week
01:22: What do you consider your greatest strength and weakness as an investor?
15:10 - From a purely financial perspective - how should you approach marriage?
20:18 - When did you first feel financially secure?
25:38 - Have you ever taken on debt?
27:42 - When did you buy your first house?
28:19 - Should young people buy homes?
32:35 - How do you view alternative investments?
38:23 - How did you get to a position where you have access to high-return investments?
44:41 - What is your approach to spending?
51:43 - How do you think about planning for your death?
54:49 - Has being rich lived up to your expectations?
Subscribe to The Prof G Pod on Spotify
open.spotify.com/show/5Ob5psT...
Got a question for Prof G? Get answers on TikTok:
/ profgalloway
Want more Prof G? Check out everything we're up to at
profgmedia.com/
#business #news #tech #finance #stockmarket #profg #scottgalloway #profgmarkets

Пікірлер: 184

@d1ffer 11 ай бұрын

The thing i love most with Scott is how humble he is, and how honest he is with his mistakes.

@platoscavealum902 11 ай бұрын

I agree

@Username_CC_ 10 ай бұрын

Having 9 figures negates that I'm sorry

@ViktorFerenczi 9 ай бұрын

Yeah, humbe-brag

@scottgould 7 ай бұрын

He's frightfully arrogant

@farbodba 11 ай бұрын

I love and appreciate how honestly Scott was answering every question with no politics and no bullshit around it. Respect!

@AjayPoriya 9 ай бұрын

Scott's unfiltered insights on money, marriage, and wealth are a must-watch!

@thejudgeholden 11 ай бұрын

It takes balls of steel to be this vulnerable for the good of the public and talking about issues once faced so openly, offering great advice and being a role model. I always see Scott as he's become the father he never had and I'm happy that he's living the shit out of life and shares what he learned so openly.

@tucoramirez9557 Ай бұрын

"Balls of steel" might be overdoing it a tad, bro. Pretty sure, it's much easier to admit you made mistakes or were once poor, from the comfortable tribune of currently being successful. Though, it does mean he likely doesn't have any inferiority complex. Still, great interview. 10/10. Would bang.

@aaronrey2658 11 ай бұрын

Ed, thank you for a fantastic interview! Your other career should be interviews... This is one of the greatest personal interviews on the value of time, investing, honesty Ive ever watched or listened to.. Thank you Scott ...Go Bruins! Go Qs bar Mafia..

@justinewert2166 11 ай бұрын

I really appreciate the open and honest information you provide in this interview Scott. Thank you both for working on these podcasts. A good source of learning for me personally.

@vreneli79 11 ай бұрын

This is Scott's greatest work! What a service to humanity. Thank you for your candor and insight.

@mauriciojimenez1979 11 ай бұрын

I never take the time to comment on anything- good or bad- but this was too good to not take the time to do so. It’s without a doubt the best episode yet. Looking forward to reading your next book.

@vvolfbelorven7084 9 ай бұрын

I love this. What Scott is doing is bringing down the knowledge to the rest of us - common folk at the moment. The best part is 38:30 and 44:48: "Elbow your way into the position"

@abbyready5481 9 ай бұрын

One of my favorite Prof G shows to date. Thanks for sharing, Scott.

@ZoffPhx 11 ай бұрын

Fantastic interview. I feel like at age 54 I have made so many mistakes that it be tough to recover from before I go to the other side. Scott I enjoy your insights they motivate me to be better and work my out of this hole I created. My father always said life isnt a dress rehearsal. So you better live it in my eyes

@drmkiwi 11 ай бұрын

Thank you for great episodes every week and this one topped the lot. Essential listening for late teens and early twenty somethings. Cheers, David

@philopapos 9 ай бұрын

This is a goldmine of an interview! Tnx for being direct, candid and informative!

@77magicbus 9 ай бұрын

Love this interview. Great questions and great answers and honest conversation with Scott being very honest and forthright about his mistakes and the consequences of those mistakes. Lots of wisdom here. thanks

@chukkaemmanuel 9 ай бұрын

Usually not a fan of videos over 20mins but this got me hooked especially being young though not too young but just fresh out of uni. A lot of wisdom in this interview really

@mikert89 10 ай бұрын

This is the best episode I’ve ever heard from Scott

@sarasas5631 11 ай бұрын

Great episode and quests team! Scott thanks for sharing!

@fabianalangdemattos7110 9 ай бұрын

Great interview!! Scott, I love the way you think and how honest you are at yourself.

@kenmurray2765 10 ай бұрын

so glad this link got posted on Reddit! Great 1 hr.. so worth it!

@gsershhs 9 ай бұрын

This is so informative. Thank you, everyone behind the show.

@DanieleO. 11 ай бұрын

What I admire of you, is that with your money you bought such a freedom that you can say whatever you think it is worth saying, and often even aginst your same interests in stake.

@rezam87 11 ай бұрын

I deeply enjoyed this talk! Thanks for sharing! 🙏

@-Gramps 8 ай бұрын

Thanks for being so open & honest about your personal knowledge and experience! I, too, realized I needed to get serious about investing after my first child was born. Unfortunately, I grew up with a father that had absolutely no impulse control with spending & gambling. Consequently, I had absolutely no role model regarding money management. I wish your information had been available 40 years ago.

@realdeal139 11 ай бұрын

Scott is the best!

@nickalonso1227 9 ай бұрын

Just refound you today on KZfaq was a avid watcher of your L2 content, glad I found you again your advice in your recent videos couldn’t have come during a more relevant time, thanks Scott

@MrWetube87 11 ай бұрын

Glad I found this channel. Great interview.

@JP-om3ou 11 ай бұрын

Great content and insight. Love the honesty; love the generosity

@hopefully2224 11 ай бұрын

Prenup should be required. I hate how men always say they were financially ruined. It should not be that way. However the true monetary value of a womans contribution, if she stays at home, needs to be acknowledged when they still love each other.

@JoalexerIsrael 11 ай бұрын

Really quality answers for how to handle personal finances

@erik8186 11 ай бұрын

Appreciate the candor. Helpful.

@eliphino12 10 ай бұрын

Love hearing the nitty gritty from Scott. A question about charitable giving- How do you select good causes to give to? I know there are services like charity navigator but these seem to be orgs that just give a rating based on how good the charity is at paperwork and admin tasks, not necessarily correlated to impact. How does Scott make this selection?

@mrjvc 11 ай бұрын

Wow, this was one of the best ones. Thanks

@dhpdaedalusStudio 11 ай бұрын

Wow, amazing episode. Thanks!

@DaveCadoff 11 ай бұрын

Well done, gentlemen. Well done.

@jeriboxx4331 11 ай бұрын

Great one! Who ever pitched this gets a gold star for the week! ⭐️

@amylee9 11 ай бұрын

Loved this interview.

@MattHayek 11 ай бұрын

Great video, definitely sending this to some friends.

@stockplan 10 ай бұрын

Scott thank yo for your advice and giving me financial hope, not doing good$$, you give me hope , thank you

@gordonsteen8415 11 ай бұрын

Great questions.

@ZeeWatcher1000 11 ай бұрын

I love this content. I was so heartbroken when the L2 episodes stopped.

@kapdolkim1914 11 ай бұрын

This one was great. I am a similar age and a lot hits home.

@mattwooddc 11 ай бұрын

stopping by to say that this episode was really good. thanks, @ed, thanks, @scott

@JazzyBee12 8 ай бұрын

I love this guy man, he gets it. Shit ain’t easy out here and you need to put in the work to get results. But make sure you take care of #1.

@mxlyzer 5 күн бұрын

I wish I was debt free. Would love to optimise my time on creating wealth so I could help other people. There is nothing more rewarding in life than helping people in need. ❤

@steveng8727 10 ай бұрын

Awesome interview, appreciate the thoughtful conversation, hello from the Philippines.

@pullups2759 9 ай бұрын

Great interview and great interviewer

@11FBA11 11 ай бұрын

great show. lots of insight.

@sammysway1765 11 ай бұрын

Great pod 👌

@ReasonableHuman1 11 ай бұрын

Great interview

@user-xs5dp4gw8e 5 күн бұрын

Great video editing. Like the written points to help drive home the learnings.

@Orange949 11 ай бұрын

I recently came across your content and unbelievable how much valuable information you provide for free. Thank you Sir!

@leevesterthemolester7889 11 ай бұрын

Great content

@nigelhsenior 11 ай бұрын

Love the brutal honesty :)

@bobbyb7568 11 ай бұрын

yet he will tell you to cut emissions and go green while he drinks Champagne from diamonds and flies private all over the world!?

@user-dm7xb7ji1h 11 ай бұрын

Prof G, Great financial advice. You clearly know how to make money and your teaching and experience is much appreciated. And very helpful true-life stories to make the points. I also appreciate the transparency about your personal life.The advice about how money allows you to solidify relationships is clearly not expert advice. Maybe I'm wrong. I'd love to hear specifically how you use money to solidify your relationships. I think an expert would say that using money to solidify relationships is akin to putting all of your financial assets in a single, very risky investment. I don't think it's a very healthy (or true) message. I particularly felt a little bad for your young co-host. I say that respectfully. Love, which is what all good relationships are built on, transcends money by orders of magnitude. They barely belong in the same conversation, except maybe in a very narrow scope. I don't want to take away from all of the good stuff and good intentions in this episode. Just thought it important to challenge the part about solidifying relationships with money. It doesn't work.

@jessetrott2549 11 ай бұрын

Wow guys. This episode is so good. Great interview.

@mrb6309 10 ай бұрын

Can't believe this kind of content only has 140K subscribers. This is GOLD

@ZatWarrior 11 ай бұрын

I’ve been watching your videos, Scott, since I was 16, about 7 years ago with Gartner L2. Between the podcast, interviews, book ‘The Four’ (I bought it but it is in my closet mostly unread) I’d like to say, thank you. I don’t agree with you on everything, but I appreciate you striving to make engaging and valuable content for the masses.

@Freakagomy 11 ай бұрын

This guy is a national treasure and massively inspirational. Thank you both so for this content.

@aaronrey2658 11 ай бұрын

I do think if someone has enough wealth in their lifetime that creating intergenerational wealth in a family across time matters. Building trusts that have rules for support, success. So that the next generation can start off solid but still needs to work for success. Example: Trust that has following support rules,, For Kids, grandkids, great, great-great grand kids.. For Kids 0-15 yrs old supporting their life basics+, being a good kid, thoughtful, good to others, sports, scouts, lifeguard etc.. 16-26 yrs old Focus on schools, work, trade skills, military or public service, basic used car, performance driven outcomes for them 27-35 yrs old getting life organized, basic home, career launch, becoming a good steward of the trust & basic+ support for the next set of kids.. rinse, repeat..

@flavingp 11 ай бұрын

Thanks for being transparent Scott, you will help a lot of peeps!

@sparrowhk 9 ай бұрын

SG: I passed 9 figures a long time ago, and to this day I still have huge financial anxiety Me: Ok you're ill

@may-maytanymaytany_s3417 11 ай бұрын

Wow, subscribe.he’s super kind and super honest. Got so much from listening to his life experiences and investing journey.🙏

@kjetilwasteson6204 11 ай бұрын

Great episode, thank you! One thing tho; Does he ever smile?😅

@dosesandmimoses 10 ай бұрын

This is sound financial advice.. it can even be as easy as $250.00/mo beginning at 24.. with a little luck with timing and recognizing certain market patterns with the help of an advisor.. you can at least use the advantages of time and dollar cost averaging upon reinvesting returns.

@abcdefghijklmmm930 10 ай бұрын

What do you think of the concept techno feudalism teem used by yanis Varufakis

@tecala1 11 ай бұрын

This was an excellent session. Great questions from aspirational relative youth to middle age success.

@BodyByBenSLC 11 ай бұрын

16:00 I worked at a ritzy gym, it was for upper and upper middle class people. 11am gym was packed with stay at home moms, some were my clients. I was shocked at what I was told and/or overhead, they would give each other tips on how to hind and steal money from husbands. One woman I was training told me she had stopped taking birth control and did not tell husband because she needed his money for another 18 years. Money changes people and not for the best.

@BodyByBenSLC 11 ай бұрын

Love is for teenagers, poor people and gay dudes.

@HOWARD963_ 11 ай бұрын

57:00 ♥️

@jasn010 10 ай бұрын

47:30. When you have worked so hard your whole life and saved like crazy, now you just want to finally enjoy it. You deserve it Scott

@Username_CC_ 10 ай бұрын

Bro he has 9 figures thats insane

@mykatton 11 ай бұрын

Exceptionally great video. I think it is important not to downplay passive index investing. $100k x 50yrs x15% per year is $100,000,000. - Granted that is at the high end of the return range - (the S&P 500 is about 10% per year). But please remember $0.02c (two pennies), doubled every day for the month of August returns $10 million on the first day of September. Use, covered calls and +25% leverage, judiciously along the way as you decide.

@lightgatha 11 ай бұрын

The young guy looks like the unbroken version of Prof G

@jamesd6717 11 ай бұрын

Truth bombs all over that first 10 mins! Great

@DP-sh3nk 2 ай бұрын

at 29:54 top 1% for 14 year olds? Did he mean 40 year olds? Although he looks like he's in his 20s

@mmm-cake 4 ай бұрын

👏👏

@kenklak 11 ай бұрын

"you're in the top 1% of whatever you are, 14-year-olds, " ... Ed didn't even flinch. I love this show.

@dollarette 11 ай бұрын

From the standpoint of an impoverished Canadian, Prof G's complaint of only making 300K US per year is a slap in any toothless Canadian's face. The compounding wealth of the US is just astonishing relative to hinterland countries like Canada and Mexico. Our currency alone automatically gives us a 30% kneecapping.

@TravisRiver 9 ай бұрын

It's actually a slap in any NY'ers face in 2023 as wel. He's talking about levels of wealth (like they're attainable) that only 1% will see. In reality, capitalism has us all believing we're a bunch of temporarily embarrassed millionaires.

@craigcruz8206 9 ай бұрын

If the exchange rate is Canada’s knee capping then private healthcare in America is their gang beating. In Canada we make life-saving choices in America they make life savings choices. Further, there is less disparity between the haves, and have nots.

@henrikwakman7776 9 ай бұрын

Complaining keeps you poor. Think upwards, don't relish bad circumstances.

@oldschoolpanels 6 ай бұрын

Then move.

@stevechance150 Ай бұрын

@@henrikwakman7776you sound like the guy who throws his wife to the ground and puts his boot on her neck, and says "Stop complaining about the boot on your throat, whining just makes it worse for you".

@platoscavealum902 11 ай бұрын

👍

@ericwood3709 11 ай бұрын

I wish I had known about this channel before I started playing around with investing, but I'm glad I know about it now :) I have been learning the hard way of the value of being diversified and investing in safer instruments. The Vanguard index funds look great, for example. Now I'm going for a nice mix of those and government treasury bills, bond/treasury-based ETFs, and a selection of companies that seem like either a safe bet or something worth gambling a little on based on various factors. It is also a challenge learning not to panic-sell and not to buy into hype. I don't recall if he said it here or in another video, but the good professor did mention that once you're hearing about it, it's probably too late.

@mrplatink 11 ай бұрын

What are some of the amazing things the world offers? Could you write a book on the ways you've spent sh*** tons of money?

@robdogglbc 11 ай бұрын

Incredible, the last about 8 mins is some of the best advise I've heard

@jackiechan8840 11 ай бұрын

This is like therapy for us all.

@johnhogan5766 10 ай бұрын

This guy must be fun at parties

@nocareernofear 11 ай бұрын

If 5% of this advice becomes relevant to me, I'll be doing much better than I am now

@joeaaronsen 11 ай бұрын

Spending money is not the road to happiness.

@claymelton 11 ай бұрын

The divorce comments are caught in my filter of things to ignore. I think that is a dangerous filter we all carry! We should listen to your advice!

@DS-nv8bi 9 ай бұрын

how much for jab injuries

@paulbernard2094 11 ай бұрын

Great show today.

@casual_designer 11 ай бұрын

4 mil investment. I see. Let me take a note of that!

@jjohnson2912 3 ай бұрын

I’m very curious as to the advice that would be given to those not born white male with gale force winds at their backs? Because they’re already at a disadvantage according to this point.

@robertbaskin5677 Ай бұрын

The short answer.... His content is not for those people.

@GasMart623 6 ай бұрын

De-risk by selling early. Exactly act like an adult!

@manzo31 11 ай бұрын

How old is Ed?

@GasMart623 6 ай бұрын

Gail force winds (Lucky)

@iancoleman5555 11 ай бұрын

Please speak to some climate scientists, you're living in a totally different world to them

@browser703 11 ай бұрын

Your watery eyes are proof that you are sincere about what you say Scott, thanks.

@barriehep 11 ай бұрын

It’s incredibly generous of you Scott to tell folks all this. Because I’d heard to do it before, I’ve tried to copy you in explaining to others some of the stuff that people just never explain to you. (Like you get wealthy from assets, not from your salary….) I hope I do it as humbly* as you do here (*not a word normally associated with Prog G 😂)

@Username_CC_ 10 ай бұрын

He has 100 mil and you think his words are generous lmao fool

@polish2x91 11 ай бұрын

How to buy a home in Brooklyn: step one, move out of Brooklyn. Step two if you work remotely: move to Ohio.

@thomas6502 11 ай бұрын

Wow, ignore Scott's advice on not being in the room when your children are born. ;-) (Learned nothing... makes me wonder about the other stuff. Sigh.) That said, really appreciate the discussion. Thanks Ed (and co.) for the great questions, and thank you professor for the candid talk.