Nick Maggiulli: Climbing The Wealth Ladder | Rational Reminder 376 скачать в хорошем качестве

Nick Maggiulli: Climbing The Wealth Ladder | Rational Reminder 376

Meet with PWL Capital: https://pages.pwlcapital.com/en-ca/co... Avoid Online Scams: https://pwlcapital.com/stay-safe-online/ Meet with PWL Capital: https://pages.pwlcapital.com/en-ca/co... Avoid Online Scams: https://pwlcapital.com/stay-safe-online/ Are your financial decisions evolving as your wealth grows? In this episode of the Rational Reminder Podcast, we welcome back Nick Maggiulli to unpack his approach to climbing the wealth ladder and creating the life you want. Nick is the Chief Operating Officer at Ritholtz Wealth Management, the author of The Wealth Ladder and Just Keep Buying, and creator of the blog Of Dollars and Data. He is renowned for his ability to take the complexity out of finance and for his deep knowledge of investing. In our conversation, Nick explains his new framework for building wealth in his new book, The Wealth Ladder, and he unpacks how spending, income, and investing should change from one level to the next. He breaks down his .01% and 1% rules for spending and income, how the opportunity cost of time changes with wealth, and what the data reveals about income, wealth, and asset composition between different levels. Nick also shares strategies to progress between levels, insights on the challenges of extreme wealth, and why focusing on non-financial forms of wealth is important. Join us for a practical, data-driven framework for thinking about financial decisions and what truly constitutes ‘enough’ with Nick Maggiulli! Timestamps: 0:00:00 Intro 0:04:30 Defining the Wealth Ladder 0:08:00 Explaining the 0.01% Rule for spending 0:13:56 Explaining the 1% rule 0:19:12 How common it is for households to climb the Wealth Ladder 0:22:38 The level of wealth where it is most common to fall down a rung on the ladder 0:29:30 Where on the Wealth Ladder education becomes important 0:33:58 Whether Nick worries about a side hustle distracting from one's main career 0:36:16 How important controlling spending is to get out of, or remain in, level 3 0:41:56 The factors that can knock someone out of level 4 0:47:30 How much someone’s lifestyle really changes if they move from level 4 to level 5, or level 5 to 6 0:53:49 What the typical millionaire household looks like 0:56:22 How people should think about “enough” when it comes to financial wealth 1:01:34 How writing his book affected how Nick thinks about success in his own life Links From Today’s Episode: Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/t.... Rational Reminder Website — https://rationalreminder.ca/ Rational Reminder on Instagram —   / rationalreminder   Rational Reminder on X — https://x.com/RationalRemind Rational Reminder on TikTok — www.tiktok.com/@rationalreminder Rational Reminder on YouTube —    / channel   Rational Reminder Email — [email protected] Benjamin Felix — https://pwlcapital.com/our-team/ Benjamin on X — https://x.com/benjaminwfelix Benjamin on LinkedIn —   / benjaminwfelix   Cameron Passmore — https://pwlcapital.com/our-team/ Cameron on X — https://x.com/CameronPassmore Cameron on LinkedIn —   / cameronpassmore   Nick Maggiulli — http://ofdollarsanddata.com/ Nick Maggiulli on LinkedIn —   / nickmaggiulli   Nick Maggiulli on Twitter —   / dollarsanddata   Nick Maggiulli on Instagram —   / nickmaggiulli   Ritholtz Wealth Management — https://www.ritholtzwealth.com/ Episode 145: Jennifer Risher: Talking About Money — https://rationalreminder.ca/podcast/145 Episode 255: Structured Products — https://rationalreminder.ca/podcast/255 The Panel Survey of Income Dynamics (PSID) — https://www.bls.gov/cex/cecomparison/... Preston Holland on X — https://x.com/prestonholland6