Ask The Compound How To Be Rich
15 snips
Jul 30, 2025 
Nick Maggiulli, RWM COO and author of The Wealth Ladder, dives into personal finance insights with hosts Ben Carlson and Duncan Hill. They discuss the nuances of wealth perception, especially how geographic location impacts financial feelings. The trio explores strategic asset allocation for high-net-worth individuals and the importance of long-term planning. They also debate the fun concept of "forever pricing" to lock in costs on beloved items. It's a lively chat packed with valuable financial wisdom!
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Defining Wealth Classes Broadly
- Nick Maggiulli defines upper middle class broadly, from $1 to $10 million net worth, across the U.S. regardless of location.
- Upper class begins around $10 million with lifestyles including private jets and staff teams, far beyond upper middle class.
Use Real Returns, Track Personal Inflation
- Use inflation-adjusted returns to compare portfolio performance across market cycles.
- Adjust expense projections based on personal inflation realities, as spending rises with inflation.
Real Returns vs Personal Inflation
- Real returns help compare market environments historically by adjusting for inflation.
- Personal inflation rate matters more for planning, but real returns remain a useful shorthand.
