Most financial mistakes happen because people don’t see the full picture. My Net Worth Worksheet helps you track everything in one place—so you stay informed. Get it now.

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In this episode, Nick Maggiulli, author of the acclaimed finance blog Of Dollars and Data, joins me to unpack his groundbreaking new book, The Wealth Ladder. We dive into fresh insights on how your financial strategy should evolve as you climb from one wealth level to the next. Nick reveals eye-opening rules and practical frameworks to help you spend, save, and invest smarter, no matter your current financial position.

Listen now and learn:

► A powerful, easy-to-apply rule that can simplify everyday spending decisions.

► How to clearly identify your current wealth level—and what actions might help you reach the next one.

► Surprising data insights about asset allocation at different stages of wealth.

► Why income, rather than budgeting alone, can be the most influential driver of financial progress.

 

Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

 

(02:00) Understanding the Wealth Ladder and Its Origin

(04:21) Introducing the 0.01% Rule: A Game-Changer for Spending Decisions 

(06:14) Explaining the Six Levels of the Wealth Ladder

(11:30) Considering Liquid vs. Total Net Worth for Practical Spending

(13:13) Why Focusing on Income is Crucial in Personal Finance

(17:19) Insights from the Financial Makeup of Different Wealth Levels

(21:01) What Actually Helps Climb the Wealth Ladder

(24:03) The Relationship Between Money and Happiness

 

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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).