Modern Wisdom

#462 - Nick Maggiulli - The Best Way To Build Your Personal Wealth

Apr 18, 2022

Nick Maggiulli, COO of Ritholtz Wealth Management, dives into data-driven personal finance strategies. He argues that earning more trumps saving on expenses and critiques the 'buy the dip' mentality. The podcast exposes myths in wealth-building while sharing lessons from the Vanderbilt family's financial rise and fall. Nick emphasizes the importance of investing for the long term rather than chasing trends, and discusses the impact of lifestyle choices on lasting wealth, urging a balanced perspective on consumption and self-worth.

01:17:02

Creator website

Episode guests

Nick Maggiulli

AI Chapters

Episode notes

Intro

2min

Navigating Personal Finance Myths

13min

Navigating the Crypto Hype

15min

The Rise and Fall of the Vanderbilts

14min

Investing for the Future: Strategy Over Speculation

10min

Understanding Dollar Cost Averaging

11min

The Paradox of Lottery Wealth and Personal Downfall

2min

Redefining Wealth: Enough is Enough

11min

Nick Maggiulli is the Chief Operating Officer for Ritholtz Wealth Management and an expert in personal finance using data analysis.

Saving money and building wealth are some of the most popular content on the internet. But what are the absolute best ways to maximise your fortune? Nick has broken down the complex world of personal finance to find out what the data says about different strategies.

Expect to learn why earning more is better than spending less, why buying the dip is a losing strategy, the easiest way to invest in the stock market, how to spend money guilt-free, why almost everyone has a backward retirement strategy, how to tell when you should sell, what the Vanderbilt's lost fortune can teach us about spending money and much more...

Sponsors:

Join the Modern Wisdom Community to connect with me & other listeners - https://modernwisdom.locals.com/

Get 30% discount on your at-home testosterone test at https://trylgc.com/modern (use code: MODERN30)

Get perfect teeth 70% cheaper than other invisible aligners from DW Aligners at http://dwaligners.co.uk/modernwisdom (use code MODERN10)

Get 5 Free Travel Packs, Free Liquid Vitamin D and Free Shipping from Athletic Greens at https://athleticgreens.com/modernwisdom (discount automatically applied)

Extra Stuff:

Buy Just Keep Buying - https://amzn.to/3OcdXID

Check out Nick's blog - http://ofdollarsanddata.com/

Get my free Reading List of 100 books to read before you die → https://chriswillx.com/books/

To support me on Patreon (thank you): https://www.patreon.com/modernwisdom

Get in touch.

Instagram: https://www.instagram.com/chriswillx

Twitter: https://www.twitter.com/chriswillx

YouTube: https://www.youtube.com/modernwisdompodcast

Email: https://chriswillx.com/contact/

Learn more about your ad choices. Visit megaphone.fm/adchoices

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.