The Long View Nick Maggiulli: Climbing the Wealth Ladder
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Jul 22, 2025 
Nick Maggiulli, COO and data scientist at Ritholtz Wealth Management, returns to share insights from his new book, 'The Wealth Ladder.' He discusses the six levels of wealth and how the pandemic reshaped economic classes. Nick highlights the importance of aligning spending with personal values and introduces the 0.01 percent rule for smarter financial decisions. He also critiques the FIRE movement, stressing the need for purpose beyond just financial independence. Dive into wealth strategies and the psychology behind money in this engaging conversation!
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Wealth Ladder Framework Defined
- The Wealth Ladder segments net worth into six increments from under $10K to over $100M.
- This framework aligns well with U.S. economic classes and spending behaviors.
Asset Composition Shifts with Wealth
- Lower wealth levels hold assets mainly in cash, primary residence, and vehicles.
- Higher wealth levels shift toward income-producing assets like stocks and businesses.
Spend According to Personal Values
- Determine what you truly value to identify high-ROI expenditures.
- Spend money on those personal priorities to maximize satisfaction.
