We talk a lot about financial independence being for everyone no matter when or where you're

starting. But how do you know you're taking the right steps to build wealth in a meaningful way

to achieve FI and avoid getting off track or even getting stuck in the middle class trap?

That's what we'll be talking about today.

Hello, hello, hello, and welcome to the Bigger Pockets Money podcast.

My name is Mindy Jensen, and with me as always is my Climed the Wealth Ladder co-host, Scott Trench.

Thanks, Mindy.

Great to be here, taking our audience to new heights on their financial journey.

We are so excited to have Nick Majuli back on the podcast.

He's brought a blueprint of wealth

that goes far beyond any traditional fire advice in his new book, The Wealth Ladder, which I am

about three quarters of the way through and really enjoying. He is the creator and financial

writer of dollars and data and a two-time author, again, with his new book that is just coming

out. Today we'll be talking about his latest book, The Wealth Ladder,

where he reveals the six levels of wealth that most investors never learn about and how mastering them can fast track your journey to fire. Nick, thanks so much for joining us again here on Bigger Pockets Money. Thank you guys for having me on once again. Awesome. Well, let's start off with the good stuff. What is this concept of the wealth ladder and what are the six steps of it?

So the wealth ladder is the are the six steps of it?

So the wealth ladder is the idea that your financial strategy should change over time and more

specifically as you build wealth. And so to do this, I created six individual wealth levels,

which are based on your net worth. And so as your listeners probably know, net worth is assets minus

liabilities. So everything you own,

your car, bank account, home, cash, etc. minus everything you owe to others. Take off your mortgage

debt, student loans, credit card. You net those out. You get a number. Hopefully it's a positive

...