The Greatest Transfer of Wealth | Scott Galloway X Rich Roll

"Every economic policy is a thinly veiled transfer of wealth from the young to the old."

This week on the podcast I’m joined by Scott Galloway, a NYU professor, best-selling author, serial entrepreneur, and podcaster. We discuss the multifaceted challenges facing men, the importance of embracing humility, emotional intelligence, education, support, and more.

We also discuss the lack of economic opportunities for young people, the perils of toxic alpha male archetypes, and much more.  

Episode 826.

✌🏼🌱 - Rich

[UnLearnYourself]

Try having this conversation with a boomer. See how quick 80s mortgage rates are cited as reason why its the same as it ever was.

[jamiedoyle]

This is one of the main reasons young, able-bodied men have checked-out of the workforce in vast amounts.

[MFTAB]

Don’t forget to mention the biggest culprit — every time money printer go it benefits those who hold assets at the expense of those who don’t. Inflation is crushing the middle and lower class

[TwinTalon]

I just finished this whole talk, and thank you so much for bringing this to us. A really phenomenal conversation. I don’t agree with everything from Scott, but man he Nailed a ton of critical stuff and I think overall he’s got a really solid finger on the pulse.

I’m 41, and it’s painfully obvious to me that my dollars don’t go near as far as they did even 10yrs ago, and especially 20yrs ago, not even close. I’m doing far better than I ever have, with a real career (aircraft mechanic), and I’m still living essentially month to month, driving a 20yo car, and dreading the direction everything’s going. Feels like I’m going backward and the light in the tunnel is getting dimmer, it’s so disheartening. Then I see how my boomer parents are living, and it’s beyond infuriating.

Man. It’s tough out here.
Anyway, thank you a ton for this one.

[MrZola]

It isn't an age war it's a class war. Most old people aren't rich or make a huge living off investments. We need to tax high investment side earners and lower taxes on w2 employees.

[ugremlin]

Wow never knew Deadpool was also a financial advisor 😂

[BuhodePiedra]

Thank you Scott for speaking truth to these points!!

[paroffice]

When we had land and farms we didn't need social security. We had large families that took care of each other. Now we're all packed in cities, fighting over toilet paper in grocery stores. I'd say we all need to get back to having some land.

[snakeplissken]

Older people have more money? The longer you work, the more money you make, DUH. Should it be the other way around? The more experience you have, the LESS you make? This guy is a schmuck.

[Teamshmo]

And they told us it was our fault for being lazy and eating Avacado toast...

[axepagode]

I've paid $147k into social security and $44K into Medicare. I would give up my earned SS retirement allotment and Medicare if you give me the money back?

[exitar]

There is a transfer of wealth but it isn't to social security its to the top 1% ....

[TrailHiker]

What he is saying is true, but it has always been true. Young people rent until they can buy, while older people have all of the wealth.

What has changed is the incomes not keeping up with housing prices. Homes have gone up 9.25x since 1980 while median incomes have gone up 3.5x. Unsustainable.

[Shaw_Cardboard_Treasures]

So why are so many against student loan forgiveness?

[UnderworldQ]

That is true you can’t have a middle class without men men uphold the infrastructure of the world

[travisweaver]

You don't ever actually own your home. How do you know? Well even after youve finished paying the bank back the loan they gave you, you still have people to pay, and if you don't pay those people, they'll take your house away (property tax). If someone can come and take your home away because you don't give them money, then you don't really own your home do you?

[prrsd]

How do you level up young men? Stop the establishment from tearing men down.

[robbetts]

I’m surprised he seems to have missed the fact that young RICH kids also benefit from these policies. It’s not just an age thing, it’s just as much about class.

[aja]

I mean my parents are by no means rich… they worked their asses off and all the things you mentioned… there are many poor boomers who worked just as hard if not harder than todays millennials. I’m a millennial. I see a lot of poor boomers barely scraping by on SS. So I think you’re right about the economic system but ur wrong about the transfer of wealth… it’s transferred to a very small portion of boomers. Not all
Boomers

[withwilk]

But young people become the old people, its transient. I am 30, and I agree in part, but at the same time we can take charge of our own lives. Economic policy can only do so much. I have friends with 2 leased cars, a 95% mortgage and buy now pay later fast fashion with Starbucks at the weekend. Whereas I drive a 2009 and wear my shoes out but I save & invest and look poor for now, it's not like all 60 somethings have a big house and 401k, infact alot of people struggle at all ages.