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Finance guru reveals the two simple lifestyle changes younger Americans should make to get rich quick

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Finance guru reveals the two simple lifestyle changes younger Americans should make to get rich quick

An accomplished entrepreneur who made his millions selling several tech companies has simple advice for young Americans who want to rise above the cutthroat economy.

Scott Galloway says the most important starting place is to get a quality education to maximize your earnings – then move to one of the world’s ‘supercities’ to maximize your opportunities.

Speaking to Steve Bartlett on his The Diary of a CEO podcast, Galloway said these two lifestyle changes, along with a little luck, can make all the difference in a young person’s life.

‘The best piece of advice is one, get credentialed. We live in a Linkedin economy,’ Galloway said.

Scott Galloway, pictured, said getting a degree at a respected educational institution is the best way to get on the path toward wealth

The next step to chase wealth, after you're out of college, is to move to a big city such as Milan, Munich, London, San Francisco or New York City, pictured

The next step to chase wealth, after you’re out of college, is to move to a big city such as Milan, Munich, London, San Francisco or New York City, pictured

‘On average, people who get a college degree earn 50 to 100 percent more throughout their life. There’s an entire set of industries that are off limits to people that don’t have credentialing.’ 

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He also suggests that the best way to attract wealth in your life is to surround yourself with wealth by relocating to big cities such as Milan, Munich, London, San Francisco or New York City.

He said two-thirds of all economic growth over the next 30 years will occur in the world’s 20 supercities. 

But even getting to a city might be worthwhile, since the World Bank estimates that more than 80 percent of global GDP is generated in urban areas. 

Still, some cities are better than others, according to Galloway, who is also a marketing professor at NYU’s Stern School of Business.

‘To be good in San Francisco is much better than being amazing in Stuttgart,’ he said, referring to the southern German city of roughly 630,000 people. ‘The smartest thing I’ve ever done was being born in California.’

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When you get to a city, Galloway said, you’re essentially putting yourself in the big leagues and allowing yourself to compete with the best of the best.

‘When you’re in a city, you’re playing against Serena Williams every day. Everyone is smart, everyone is well-dressed, everyone is working hard, everyone is taking chances. And you are surrounded by people who are very successful and you are going bump off professional and personal opportunity every day.’ 

He added that moving to a city is best when you’re young and not tied down by additional responsibilities.

Galloway grew up in Los Angeles, pictured, and said a lot of his luck in business and life started with being born there

Galloway grew up in Los Angeles, pictured, and said a lot of his luck in business and life started with being born there

‘When you’re young you can be in a city because you can live in a 400-square-foot apartment, you can be out of the house all day,’ he said. ‘Do it while you’re young because when you start collecting dogs and kids as I did in my 30s, I could no longer afford to stay in New York.’

But before all that, Galloway said getting a degree is essential to live an exciting, risk-taking lifestyle in a big city. 

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That’s because the cost of living in cities is high and has always been high. 

Especially now, after years of runaway inflation has seen housing, food and everything else get radically more expensive for Americans. 

With this in mind, an individual with a bachelor’s degree earns roughly $1,493 a week, according to the Bureau of Labor Statistics. 

Someone with only a high school diploma only makes $899 a week on average, the data shows. 

But ultimately, Galloway said his advice applies to people who want to be ‘economic animals.’

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‘Some people may say, “Scott, it’s your way, it’s not the right way. I want to teach football in my little village in the Amalfi Coast. I can make 55,000 euros running a small bakery and have a really nice life.” More power to you,’ he explained. 

‘The majority of the young people I hear from realize that…wealth equal relevance and love in a capitalist society and they want to be economically very secure.’

Finance

Departing inspector general targets Council Office of Financial Analysis

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Departing inspector general targets Council Office of Financial Analysis

The $537,000-a-year office created in 2014 to advise the City Council on financial issues and avoid a repeat of the parking meter fiasco has failed to deliver on that mission, the city’s chief watchdog said Tuesday.

Days before concluding her four-year term, Inspector General Deborah Witzburg said a shortage of both adequate staff and financial information closely held by the mayor’s office prevents the Council’s Office of Financial Analysis from helping the Council be the the “co-equal branch of government” it aspires to be.

In a budget rebellion not seen since “Council Wars” in the 1980s, a majority of alderpersons led by conservative and moderate Democrats rejected Mayor Brandon Johnson’s corporate head tax and approved an alternative budget, including several revenue-generating items the mayor’s office adamantly opposed.

But Witzburg said the renegades would have been in an even better position to challenge Johnson if only their financial analysis office had been “equipped and positioned to do what it’s supposed to do” — provide the Council with “objective, independent financial analysis.”

“We are entering new territory where the City Council is asserting new, independent authority over the budget process. It can’t do that in a meaningful way without its own access to financial analysis,” Witzburg told the Chicago Sun-Times.

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Chicago Inspector General Deborah Witzburg’s latest report focuses on the Chicago City Council’s Office of Financial Analysis.

Jim Vondruska/Jim Vondruska/For the Sun-Times

But the Council’s financial analysis office, she added, “has never been equipped or positioned to do what it needs to do. It needs better and more independent access to data, and it needs enough staff to do its job. It has a small number of employees and comparatively limited access to data.”

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The inspector general’s farewell audit examined the period from 2015 through 2023. During that time, the financial analysis office budget authorized “either three or four” full-time employees. It now has a staff of five .

Witzburg is recommending a staffing analysis to identify how many people the financial office really needs — and also recommending that the office “get data directly” from other city departments, “ rather than having it go through the mayor’s office.”

The audit further recommends that the office develop “better procedures to meet their reporting requirements” in a timely manner. As it stands now, reports are delivered “sometimes late, sometimes not at all,” the inspector general said.

“We find that those reports have been both not timely and not complete in terms of what they are required to report on and that those reports therefore have provided limited assistance to the City Council in its responsibility to make decisions about the city’s budget,” she said.

The Council Office of Financial Analysis responded to the audit by saying it hopes to add at least three full-time staffers in the short term and has made “some progress” over the last three years in improving their access to data, but not enough.

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The office was created in 2014 to provide Council members with expert advice on fiscal issues.

For nearly two years the reform was stuck in the mud over whether former 46th Ward Ald. Helen Shiller had the independence and policy expertise to lead the office.

Shiller ultimately withdrew her name, but the office was a bust nevertheless. In an attempt to breathe new life into it, sponsors pushed through a series of changes.

Instead of allowing the Budget chair alone to request a financial analysis on a proposal impacting the city budget, any alderperson was allowed to make that request.

The office was further required to produce activity reports quarterly, not just annually.

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Now former-Budget Chair Pat Dowell (3rd) then chose Kenneth Williams Sr., a former analyst for the office, as director and gave him the “autonomy” the ordinance demanded.

Two years ago, a bizarre standoff developed in the office.

Budget Committee Chair Jason Ervin (28th) was empowered to dump Williams after Williams refused to leave to make way for a director of Ervin’s own choosing.

The standoff began when Williams said he was summoned to Ervin’s office and told the newly appointed Budget chair was “going in a different direction, and I’m putting you on administrative leave” with pay.

“He took all my credentials and access away. I would love to come to work. I wasn’t allowed to come to work,” Williams said then.

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Williams collected a paycheck for doing nothing while serving out the final days remainder of a four-year term.

Ervin’s resolution stated the director “may be removed at any time with or without cause by a two-thirds” vote or 34 alderpersons. He chose Janice Oda-Gray, who remains chief administrator.

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Finance

Reilly Barnes Returns to Little League® as Purchasing/Finance Assistant

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Reilly Barnes Returns to Little League® as Purchasing/Finance Assistant

Little League® International has announced that Reilly Barnes accepted a new role as Purchasing/Finance Assistant, effective April 6, 2026. Barnes transitions from a temporary Purchasing Assistant to this full-time position to assist in the year-round demands of purchasing for the organization, as well as the region and Little League Baseball and Softball World Series tournaments. 

“We are thrilled to welcome back Reilly to our team as a full-time Purchasing/Finance Assistant. Reilly’s prior experience, time management, and attention to detail make him an invaluable asset to the purchasing team,” said Nancy Grove, Little League Materials Management Director. “We look forward to the positive contributions he will have on our organization.” 

In this role, Barnes will be responsible for processing purchase requisitions, coordinating souvenir products, and tracking order fulfillment. He will also assist with evaluating suppliers, reviewing product quality, and negotiating contracts for effective operations.  

After most recently working as a Logistician Analyst at Precision Air in Charleston, South Carolina, Barnes, a Williamsport native, returns after honing his skills in the fast-paced environment. Prior to his time at Precision Air, Barnes served as a Procurement Specialist at The Medical University of South Carolina, where his expertise and knowledge were instrumental in supporting both education and healthcare needs.  

“I am thrilled to return to Little League in this full-time role,” said Barnes. “Coming back to my hometown and having the opportunity to work for an organization that has played such a special part of my upbringing means a lot. I can’t wait begin this new opportunity.” 

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Barnes graduated from the University of Pittsburgh in 2022 with a B.A. in Supply Chain Management, Finance, and Business Analytics.  

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Finance

Why this sleepy Swiss town has become a ‘bolt-hole’ for the Gulf elite

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Why this sleepy Swiss town has become a ‘bolt-hole’ for the Gulf elite

As conflict continues to destabilise the Middle East, the Gulf States elite are seeking solace in European alternatives that offer comparable financial benefits with a far lower risk of war on the doorstep. One such destination is the small Swiss town of Zug, which is becoming a “bolt-hole” for Gulf-based wealth, said the Financial Times.

‘Swiss Monaco’

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