The Money with Katie Show The Powerful 0.01% Spending Rule, Making Career Shifts, & When to Adjust Your Asset Allocation
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Aug 6, 2025 
Join Nick Maggiulli, author of 'Just Keep Buying' and COO of Ritholtz Wealth Management, as he shares insights on personal finance. He explains why focusing too much on minor spending choices can be counterproductive. Discover how to navigate risky career shifts while maintaining financial momentum. Nick discusses the unique risks and opportunities that arise once you surpass a $100,000 net worth—shifted even more past the $1 million mark. Get ready for handy tips to evaluate your spending and investment opportunities with confidence!
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Nick's Blogging Journey
- Nick Maggiulli started his personal finance blog while working in litigation consulting and faced silence and no audience at first.
- Despite early challenges, he persisted and later transitioned careers, eventually monetizing and writing books.
0.01% Rule for Spending
- Use the 0.01% rule to evaluate small spending decisions by relating expenses to your net worth.
- This helps avoid stressing over trivial costs and allows lifestyle creep after building wealth.
Risks and Opportunities in Level Three
- In the $100,000 to $1 million range, income growth matters more than extreme budgeting, but overspending risks losing progress.
- Many in this range spend similarly regardless of income, risking financial plateau by overspending on status and housing.
