I just finished reading Scott Galloway’s The Algebra of Wealth. Galloway provides a well written tour of basic financial concepts for folks that might not be familiar with how to save, invest, and make choices about their careers. For folks like me who have their finances under control the content can feel like review, but Galloway has a gift for writing in an enjoyable and accessible manner. This is a great gift for a recent college graduate.

Why It Matters

Galloway’s sobering advice comes off as a bit contrarian to the kinds of things you might hear in a college graduation speech. Where folks might advise “follow your passion” Galloway makes a case for trying to accumulate the wealth you need to live the life you want to live. If starving artist does not suit you, Galloway’s advice might resonate.

Lessons from Dad

When I was younger my father kept telling me to put money into an IRA. Even when I was not making much and found it to be a stretch. Dad knew, just as Galloway points out, that it’s good to get into the habit of saving. Combined with the magic of compound interest, you have a foundation for a financially secure future.

The Importance of Time

Galloway spends some detours ruminating on his decision to buy and maintain a private jet. This isn’t a normal person problem, but through it he explains that it is worth buying your time back. You can always make more money, but everyone gets the same 24 hours in the day. Do not waste it sitting in lines if you do not have to.