How our spending, investing, and life strategy change as our net worth grows. We consider how skill, luck, discipline, relationships, and AI can allow us to ascend and, in some cases, descend the wealth ladder.
Show Notes
The Wealth Ladder: Proven Strategies for Every Step of Your Financial Life by Nick Maggiulli
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Transcript
Introduction
Welcome to Money for the Rest of Us.
This is a personal finance show on money, how it works, how to invest it, and how to live without worrying about it.
I’m your host, David Stein.
Today is episode 528.
It’s titled Climbing the Wealth Ladder with Nick Majuli.
Nick Majuli is the Chief Operating Officer at Ritholtz Wealth Management, but he’s also the creator of Dollar and Data.
A blog, he’s been writing regularly since 2017.
The goal of his work at Dollars and Data is to help you make better financial decisions using the best information available.
His new book, The Wealth Ladder: Proven Strategies for Every Step of Your Financial Life, is about the different rungs of wealth and our decision framework should be different based on our levels of wealth.
And we talk about the rungs on the ladder, how luck can impact our wealth, either up or down.
Sometimes bad luck is amplified at lower levels of wealth.
Good luck can be amplified at higher levels of wealth.
We talk about how AI is impacting what Nick does in his work and how it can impact us as we think about this wealth ladder framework.
I hope you enjoy this conversation with Nick Majuli.
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