Morning Brew Daily How to Climb The Wealth Ladder with a Personal Finance Expert
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Jul 4, 2025 
Nick Maggiulli, a personal finance expert and author of 'The Wealth Ladder,' shares insights on climbing the financial hierarchy. He introduces his six levels of wealth, emphasizing their connection to freedom and fulfillment. The conversation delves into the difference between wealth and income, stressing the importance of net worth and ownership of income-generating assets. Maggiulli also discusses the psychology of wealth, addressing ambitions, contentment, and the influence of career choices and ego on financial success.
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The Six-Level Wealth Ladder
- The wealth ladder has six levels, each representing a 10x net worth increase, from under $10,000 to over $100 million.
- Progressing through these levels reflects significant changes in wealth and financial freedom.
Spend According to Wealth Level
- Spending based on your wealth, not income, grants better financial freedom and marginal splurges.
- The 0.01% rule helps determine marginal spending by multiplying net worth by 0.01% to gauge daily wealth generation.
Know Your Wealth Level
- Know approximately which wealth level you occupy, as exact precision isn't necessary.
- Use your wealth level to gauge safe discretionary spending instead of relying solely on income.
