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The Intrinsic Value Podcast - The Investor’s Podcast Network

MI Rewind: Just Keep Buying w/ Nicholas Maggiulli

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Education, Investing, Business

4.6592 Ratings

🗓️ 11 August 2023

⏱️ 63 minutes

🧾️ Download transcript

Summary

Robert Leonard chats with Nick Maggiulli about building additional income streams and growing income to build wealth. Nick Maggiulli is the Chief Operating Officer and Data Scientist at Ritholtz Wealth Management, where he oversees operations across the firm and provides insights on business intelligence.  IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 06:02 - Why many people should put more focus on growing their income to build wealth. 12:10 - How one should go about building additional income streams on the side. 15:46 - How using the 2x spending rule can help you eliminate guilt in making larger purchases. 25:54 - Nick’s thoughts on what to do with money intended to be used as an emergency fund or a home down payment. 36:27 - Why dollar-cost averaging is better than trying to time the market. 46:04 - Why you should reconsider maxing out your 401k if you’re currently doing so. And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Check out Nick’s new book, Just Keep Buying. Check out Nick’s blog, Of Dollars and Data. Related episode: Listen to MI115: Young Investors Getting Started w/ Kelly Lannan, or watch the video. Related episode: Listen to MI143: Good Money Revolution w/ Derrick Kinney, or watch the video. NEW TO THE SHOW? Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle’s favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Nick: Website | Twitter | LinkedIn    Connect with Robert: Twitter HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!  Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

Click on a timestamp to play from that location

0:00.0

You're listening to TIP.

0:02.2

On today's show, we've started to reshare some older episodes that are my favorite for a few

0:07.5

reasons.

0:08.6

One, we get a bunch of new listeners each week, so the new listeners may not have heard this

0:13.2

episode before.

0:14.6

Two, even if you've been listening for a while, you may have missed this episode when it

0:19.2

originally came out.

0:22.5

Or three, even if you've heard it before, it can be a great episode to learn from again. If you've already heard this

0:27.2

episode or you're not interested in hearing it, feel free to just skip it. There's no harm in that,

0:31.7

and you can pick up with our new episodes next week. All right, guys, that's all I had for you

0:36.5

for this new intro. Everything going

0:38.9

forward is going to be from the original show. Hope you guys enjoy it. There's so much guilt

0:46.4

in our in the financial personal finance community about like doing that. Like, oh, you're buying

0:50.0

yourself lattes. You're paying away a million dollars or you're not working hard and all this

0:53.2

stuff. And so to eliminate guilt, I think the two extra works really well, because if you want to splurlessly, you want to spend $400 on a pair of dress shoes, like a really nice pair you want to keep for a long time, well, take another $400 and invest it in some sort of income producing asset, whatever, whether that be... On today's episode, I'm joined by Nick Majuli.

1:13.9

Nick is the chief operating officer at a wealth management firm, where he oversees operations

1:18.2

across the firm and provides insight on business intelligence.

1:21.9

He's also the author of Of Dollarsand Data.com, a blog focused on the intersection of data

1:27.0

and personal finance.

1:28.6

His work has been featured in the Wall Street Journal, CNBC, and the Los Angeles Times.

1:33.1

During the episode, I chat with Nick about why many people should put more focus on growing

1:37.6

their income rather than saving more money to build true wealth, how one should go about

...

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