The author and blogger discusses how financial priorities should change with income and net worth, the money/happiness connection, and why deciding how to spend is just as important as deciding how to invest.
Today on the podcast we welcome back Nick Maggiulli. He’s the author of a new book called The Wealth Ladder: Proven Strategies for Every Step of Your Financial Life. His first book was called Just Keep Buying. In addition, Nick writes a wonderful blog called Of Dollars and Data, which is focused on the intersection between data and personal finance. In his day job, Nick is the Chief Operating Officer and Data Scientist at Ritholtz Wealth Management. He received his bachelor’s degree in economics from Stanford University.
00:00:00 Writing The Wealth Ladder
00:05:30 The Six Levels of the Wealth Ladder
00:09:52 How Wealth Changes Across Net-Worth Levels
00:16:16 Why People Rarely Fall Down the Wealth Ladder
00:21:00 Spending Rules and the 0.01% Rule
00:29:25 Career Choices, Income, and Opportunity Costs
00:37:42 Investment Risks and Ascending the Wealth Ladder
00:44:29 Money, Happiness, and Life Beyond Wealth
Jim O’Shaughnessy: Investing Lessons From a Lifelong Learner
Dan Haylett: ‘The Retirement You Didn’t See Coming’
David Bach: ‘Start Enjoying Your Life Sooner’
If you have a comment or a guest idea, please email us at TheLongView@Morningstar.com.
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