Money For the Rest of Us Climbing the Wealth Ladder with Nick Maggiulli
4 snips
Jun 18, 2025 
Nick Maggiulli, Chief Operating Officer at Ritholtz Wealth Management and author of 'The Wealth Ladder', shares insights on how our financial strategies shift as our net worth evolves. He discusses the '0.01% spending rule' to balance expenses and long-term wealth. The role of luck and AI in wealth accumulation is also examined. Maggiulli highlights challenges transitioning between wealth levels and emphasizes the importance of relationships in investment success, along with the unique experiences faced while writing his new book.
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The Six Levels of Wealth Ladder
- The Wealth Ladder has six net worth levels, each requiring a different financial strategy.
- Levels range from under $10,000 to over $100 million, increasing by powers of ten.
The 0.01% Spending Rule
- The 0.01% spending rule links what you can spend daily to your net worth to protect long-term wealth.
- It assumes a conservative 3.7% annual real return, allowing lifestyle upgrade only slowly with wealth growth.
Challenges Climbing From $1M to $10M
- Progressing from $1M to $10M wealth is very difficult due to different strategies needed.
- Most reaching $10M are entrepreneurs or have equity in successful businesses, not just high income earners.
