Bankless 6 Levels of Wealth with Nick Maggiulli | Author of The Wealth Ladder
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Jul 23, 2025 
In this discussion, Nick Maggiulli, author of 'Just Keep Buying' and 'The Wealth Ladder', shares his expertise on wealth building. He breaks down six stages of wealth, highlighting the evolution of strategies needed as one climbs higher. Nick emphasizes the balance between wealth and happiness, exploring how to navigate financial complexities and avoid get-rich-quick traps, particularly in crypto. He encourages listeners to focus on realistic financial goals while understanding that true success isn't just about reaching the top of the wealth ladder.
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Logarithmic Wealth Ladder Impact
- The wealth ladder scales logarithmically because lifestyle changes and happiness impact diminish incrementally.
- Going from zero to $10,000 changes life far more than $10,000 to $20,000 for example.
Apply the 0.01% Spending Rule
- Use the 0.01% rule: spend no more than 0.01% of your net worth daily to maintain long-term financial health.
- This marginal spending decision prevents lifestyle inflation and keeps wealth stable.
Build Safety in Level One
- At level one, prioritize building financial safety with an emergency fund and strong relationships.
- Avoid financial pitfalls from bad luck that can spiral into crises at this stage.
