The Art of Manliness

Data-Backed Answers to Personal Finance Controversies

Sep 21, 2022

Nick Maggiulli, Chief Operating Officer at Ritholtz Wealth Management and author of "Just Keep Buying," dives into personal finance controversies with data-driven insights. He discusses the importance of saving versus investing and introduces the "2X Rule" for guilt-free spending. Maggiulli debunks myths about debt and homeownership while explaining the benefits of dollar cost averaging. He encourages a long-term mindset, emphasizing the need for diversified income and the right approach to financial decision-making in volatile times.

46:16

Creator website

Episode guests

Nick Maggiulli

Highlights

AI Chapters

Episode notes

The Relationship Between Income and Savings Rate

01:57

The Pros and Cons of Thinking of Your Home as an Asset

01:16

Intro

2min

Navigating Wealth: From Savings to Investments

19min

Aligning Finances with Psychological Profiles and Debunking Retirement Myths

4min

Reevaluating Debt and Homeownership

8min

Investment Strategies for Young Adults: Focusing on Income Production

2min

Investment Strategies: Just Keep Buying

8min

Navigating Financial Confusion in Uncertain Times

3min

Dip your toes into the world of personal finance and you can find plenty of questions which are the subject of endless debate. How much of your income should you save? Is it okay to take on debt? Which is better — renting a home or owning one? When it comes to the stock market, should you buy the dip?

On his blog, Of Dollars and Data, my guest cuts through the personal finance noise by finding answers based on numbers rather than conjecture, and then converting this research into advice the average person can understand. His name is Nick Maggiulli, and he's the Chief Operating Officer and Data Scientist at Ritholtz Wealth Management, as well as the author of Just Keep Buying: Proven Ways to Save Money and Build Your Wealth. Today on the show, Nick explains what the data says about how you should approach the questions I've already mentioned. He also shares how to spend your money without feeling guilty by using the "2X Rule," the three criteria you should meet before you consider buying a home, the best way to approach the idea of "dollar cost averaging," and more. We end our conversation with the right mindset to adopt in our volatile economy.