Author: Scott Galloway | Hardcover: 256 pages | ISBN-13: 978-0593084199
Scott Galloway teaches brand strategy at NYU’s Stern School of Business. His students are smart and hard-working, but they struggle with life’s biggest questions, just like the rest of us. What’s the formula for a life well lived? How can you have meaningful career? Is work/life balance really possible? What does it take to make a long-term relationship succeed? Galloway explores these and many other questions in this book.
I think this is a perfect book for any graduate or for anyone who feels adrift. And because I loved take a seat as this might be one of those long posts 🙂
Let’s go back to school. When you first started studying algebra in your math classes. You were probably confronted by equations involving letters like X+Y=5. Those letters are called variables which are symbols that stand for unknown quantities. In math, your task is to solve for those unknowns, the ones that add up to a given number like 5.
Similarly the algebra of happiness is about figuring out the variables that add up to a happy life- that is a life filled with a sense of meaning, love and success.
In this post, I’ll share with you some of the meaningful equations that I took away.
Equation 1: 😰÷ 💻= 😊
If you want to achieve something, work towards achieving it. Don’t just watch people working out and wish it was you. Go out and do the jogging. Take a healthy diet. Just work out. You wish you could speak in public? Then lead a class presentation, a workshop.. just practice and work towards your goals. That’s when you have a good life.
Equation 2: ♡+V+$=P2
The best romantic partnerships are synced upon three things:
- Physically attracted to each other
- Your values should align (values like religion, how many kids you want, your approaches on how to raise kids, sacrifices you’re willing to make for economic success and who handles which responsibility)
- Money: does your partner’s contribution to, approach to, and expectation about money-and how it flows in and out of the household- fit with yours?
Equation 3: 💰📈
Invest early and often. Most of us know how compound interest works with money but don’t recognize its power in other areas. Make small investments in the people you care about, every day. Take a ton of pictures, text your friends stupid things, check in with old friends, express admiration to co-workers, and tell your loved ones that you love them. The payoff is small until it becomes immense.
Equation 4: 🍺= ☹️
Drink less. The presence of alcohol (worse, its addiction) leads to failed marriages, careers coming off tracks and bad health
Equation 5: 💪🏾🎊🎊
Find something you are good at and after 10,000 hours of practice, get great at it. The emotional and economic rewards that accompany being great at something will make you passionate about whatever that something is.
Equation 6: 👩🏽🎓+📍+ 🏜️=$
To achieve financial security, combine a good degree with a good location and be willing to work in unromantic fields.
Imagine you have the financial security of spending the golden years of your life doing the things you enjoy with the people you love the most. Sounds great, but are you willing to put your nose to the proverbial grindstone to make it a reality? Can you sacrifice aspects of your young adulthood for the sake of your happiness later in life?
We’re going to assume the answer is a definite yes, but, even if that’s not the case, you’ll still get a better idea of what’s involved in taking this difficult-but-rewarding path in life.
That path begins with achieving financial security during your early adulthood. The key to doing this is recognizing the importance of combining the right credentials with the right location.
Let’s start with the credentials. To be successful, it helps to have an in-demand degree in an in-demand field. This is a fact that’s as obvious as it is distressing for many people, because pursuing such a degree often entails giving up on your passions.
Here’s the cold hard truth: most of the fields in which you can both make your mark and earn good money aren’t exactly the stuff of childhood dreams. In the author’s experience, most successful people end up working in rather prosaic industries – think pesticide-production, iron-extraction, tax law and insurance.
Besides having an in-demand degree, it also helps to live in a supercity. In today’s economy, supercities are where most economic growth tends to happen. As a result, they’re also where the most career opportunities can be found for those with the right degrees.
You should, therefore, equip yourself with the right degree and get to a supercity when you’re still young. Remember: the clock is ticking. While you’re wasting your time and talent in some mid-sized city or no-name suburb, your most competitive peers are busy climbing the ladder of success in the supercities in which they and all of the good jobs have congregated.
Equation 7: 🚗🏘️
Achieving financial security involves redefining the meaning of the word “rich” and acting accordingly.
Let’s say you’ve earned an in-demand degree, moved to a thriving supercity and sorted out the question of whether you should be an employee or an entrepreneur. Now what? How else can you ensure you achieve financial stability for the later years of your life?
The short answer is: to get rich. But to do that, you need to know what it really means to be “rich.” It’s not just having a lot of money. It’s having a comparatively high passive income and low expenditure.
Why passive income? Well, passive income is money you automatically receive, often from an investment you make in some form of equity, like property or stock. It ultimately provides you with a steady source of income on which you can always rely.
Your salary isn’t dependable in the same way. That’s not just because you could lose your job – it’s also because people tend to adjust their spending to their paychecks; if your salary goes up, you’ll probably want to live a more affluent lifestyle to go along with it. As a result, you may end up burning through just as much cash as you did before you got your raise.
To counteract this tendency, you should invest in property and stock as soon as you can. Even better, find a job that forces you to set aside some of your income for the future. If all goes well, you’ll have more than enough passive income to enjoy the rest of your life with your loved ones.
That’s all I can share from this book. I really liked it except the fact that the author is an atheist. But that’s for another day. My rating is 4 stars (☆☆☆☆)