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  • Writer's pictureAnderson Petergeorge

The Algebra of Happiness - Scott Galloway


Overview

Professor Scott Galloway outlines his perspective on the fundamentals of a happy life. From our money to our health to our love lives, lessons are given in the form of short anecdotes from Galloway's personal experience


Notes

  • Show me a guy who watches ESPN every night and doesn't work out and I'll show you a future of anger and failed relationships. Show me someone who sweats every day and spends as much time playing sports as watching them on TV, ad I'll show you someone who is good at life.

  • The most important decision in your life isn't where you work but who you choose to partner with.

  • Professional success is the means, not the end. The end is economic security for your family and more important, meaningful relationships with family and friends.

  • "The most rewarding part of my job is when young people who trust me seek counsel from me about their next move or other work matters. Its rewarding, as it scratches a paternal itch we have as we get older"

  • Studies show that marriage is advantageous economically. Having a partnership, sharing expenses and responsibilities, being able to focus on your careers, and utilizing the wisdom of crowds generally leads to better decisions

    • There is a streamlining of choices, which lets you allocate your attention capital to things that grow, instead of decline, in value (your career vs. Your attractiveness to others or being seen at the right places)

    • Once married, your household worth grows at an average of 14% a year. Married couples, by their fifties on average have 3x the assets of their single peers.

  • Your first house signals the meaningful - your future and possibility. Your last home signals the profound - the people who love you

  • Learning: "I believe it doesn't matter how nice your home is if at your exit you're surrounded by strangers under bright lights, its a disappointment. But if you die surrounded by people who love you, you are a success.It is a sign that you forged meaningful relationships and that you were generous with pepole.

  • The trait most common among CEOs is that they exercise regularly

  • It’s difficult to get to economic security with just your salary, as you will naturally raise or lower your lifestyle to match what you make. As soon as possible, buy property or stocks, and try to find a job that has forced savings through a retirement plan or, better yet, options on the firm’s equity. Always be in the stock market, because you aren’t smart enough to predict when to jump in and out on your own.

  • "Take notes on the things that give you joy and satisfaction, and start investing in those things. Pay special attention to things that bring you joy that don’t involve mind-altering substances or a lot of money."

  • Rich Life: The definition of “rich” is having passive income greater than your burn. My dad and his wife receive about $50,000 a year from dividends, pension, and Social Security, and spend $40,000 a year. They are rich. I have a number of friends who earn between $1 million and $3 million, with several children in Manhattan private schools, an ex-wife, a home in the Hamptons, and a lifestyle fitting of a master of the universe. They spend most, if not all, of it. They are poor.

    • Formula 1: Passive income > burn = rich

    • Formula 2: Resilience/Failure = Success

  • Always get the easy stuff right. Show up on time, have good manners and follow up with people.








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