A Simple Formula For Financial Freedom - Scott Galloway

Chris and Scott Galloway discuss how young people can get wealthy in the current economy. How does Scott Galloway define wealth? How does Scott Galloway deal with negative factors outside his control? What does Scott Galloway recommend all people do to get wealthy?

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[JamesScott]

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.

[KennedyVerbruggen]

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.

[LejlaGöransson]

Diversification is the secret to optimal performance. This is why I have my interests set on market sectors based on performance and projected growth, such as the EV sector, renewable energy, Tech, and Health. Keep investing regularly and you'll be blown away how much it can change in a few short years. Here's to $1 million and to FIRE

[Raniyanhunter]

I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $650k. before I turn 60, I would appreciate any advice on potential investments.

[jameswood]

Creating wealth entails establishing positive routines, I had only $78k to my name at 42 when I first woke up to this reality. I chose the stock market as a medium of growth, got an excellent financial advisor, Financial management is a vital subject that many avoid, often leading to future regrets.

[theyanzhu]

1. Definition of Wealth: Scott Galloway defines being "rich" as having passive income that exceeds your expenses. This concept emphasizes financial security and the ability to live without financial stress.

2. Focus on Main Hustle: Galloway advises against prolonged side hustles, suggesting that dedicating extra effort to a primary job can yield greater returns.
Importance of Time: He highlights the power of compound interest and urges young people to invest early, emphasizing that time is a significant advantage.

3. Control Spending: Galloway stresses the importance of controlling spending and being disciplined about saving and investing in low-cost ETFs and index funds.

4. Diversification: He underscores the necessity of diversification to protect against market dynamics and reduce financial and emotional risks, recommending not to invest more than 3% of net worth in any single investment.

Thanks for the amazing video. I've been collecting wisdom like this in my channel as well!

[ConradFriedrichjz]

Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich.

[RobbStonee]

The stock market is a very good way to make passive income. I have heard of several investors who were making more than $40k a month from the market. I'm ready to go in but I'm careful to not make a mistake or are there are safe bets?

[NoahNollens]

The recession is here, where do investors look at for wealth gains now? mortgage rates still on the rise with higher imports and lower exports, yet the Fed is to lessen cost. Something will eventually break if they keep raising interests and quantitative

[avi]

1. Focus
2. Find what you are good at
3. Double down on it
4. Diversification
5. Stoicism
6. Save more than you spend and less than you make
7. Save and appreciate how powerful time and compound interest is
I know how to make you rich, that's the good news, the bad news is... Slowly

[DonaldMark-nese]

Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.

[MasonRussell]

I came across your channel through this video—case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.

[ErikaBailey-xg]

I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.

[geekspeak]

My 40 year old self wishes I had this 10 years ago. The full is gold. There are many ways to achieve financial freedom but if u focus on the big rocks he outlines you’ll be happy when u get there. I am killing it now in all areas of life.

[Ravenator]

Gotta be the best & most concise encapsulation of what true ‘wealth’ is I’ve come across

[christophertaylor]

This is possibly the best video I’ve seen in a decade. I wish I was taught this wisdom at school 20 years ago. If only I could hit a rewind button….

[robertobomfin]

So much wisdom compressed here. About managing what you need to live, the downside is that I doubt someone could learn this kind of stuff from someone else talking.

[dudleycarl]

"Greatness and wealth is in the agency of others". So true

[nittygritty]

The truest thing Scott said, "The majority of self-made people are good people. The reason why is, if you want to be wealthy, you have to collect allies along the way. People want to have to put you in a room of opportunities... The only way it's going to happen is if you show generosity and character from an early age."

[TheFlyingE]

Galloway is seriously such a refreshing and self aware person to listen