Brain Food #695
The Algebra of Wealth
Thoughts of the day
With the holidays just around the corner, Brain Food will shortly take (and give you) a break before returning in the new year.
And so, before we start looking forward, I will use this week to look back on some of the most interesting writing or ideas I happened to stumble upon in 2021.
From Scott Galloway, and his essay titled The Algebra of Wealth: “The most powerful forward-looking indicator of your financial freedom is not how much you earn, but how much you save.”
Galloway argues that to be wealthy, not rich, we need focus, stoicism, time, and diversification: “Focus on what matters. Be a Stoic in the face of temptation. Use Time to your advantage. Diversify your investments.”
But the most important excerpt is, perhaps, this:
“Focus on your relationships. Family and friends are essential to long term happiness, and the most important relationship is your spouse. The most impactful economic decision you make will be who you decide to partner with or, more specifically, who you decide to have kids with. Married people grow their net worth 77 percent more than single people. Marry the right person, and then invest in that relationship every day. You’ve wagered 50 percent-plus of your net worth, and value in the marketplace, on that partnership. Don’t keep score, and bring forgiveness, generosity, and engagement. In sum, show up.”
Thank you for reading today’s Brain Food. Brain Food is a short daily newsletter that aims to make you think every day, without taking up too much of your time. If you know someone who would like it, why not forward it to them? Brain Food is, after all, alive thanks to you, its readers.