The great American playwright Tennessee Williams once remarked that “You can be young without money, but you can’t be old without it.”
The great advantage of youth is you have time to build the wealth that provides for a comfortable old age. NYU professor and “No Mercy, No Malice” blog author, Dr. Scot Galloway has recently penned a new book with definitive advice on wealth in all its forms.
It’s not all dollars and cents. Dr. Galloway’s take on wealth stresses the “importance of character, integrity, self-knowledge, and compassion for oneself and others, as being fundamental to wealth“
The Algebra of Wealth” is a “formula” for wealth (that) comprises four areas: Stoicism, Focus, Time, and Diversification.” (This seven-minute video offers a good overview).
Last year I featured another great contribution by Dr. Galloway about a creating a good life: The Algebra of Happiness. You’ll have a lot of fun with his witty, edgy, and hilarious remarks. Parents and kids should watch this together. (Warning, Dr. Galloway’s language can be a bit salty).
Also, if you’re thinking about starting a business, Dr. Galloway offers four questions you should ask yourself before taking the plunge.
