The Wealth Ladder: Proven Strategies for Every Step of Your Financial Life with Nick Maggiulli

All the Hacks with Chris Hutchins

Chris Hutchins

Business, Education, Investing, Society & Culture, Places & Travel, Self-improvement

4.7 • 1.4K Ratings

🗓️ 4 June 2025

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

#230: The Wealth Ladder is a new philosophy for thinking about money and in this episode you'll learn exactly how to handle your spending, income, investments, and more, with tailored advice for every stage. We cover strategies to boost income, spend smarter with the 0.01% rule, avoid costly financial traps, evaluate new business opportunities, and achieve financial freedom. Nick Maggiulli is a financial writer, data expert, and the COO of Ritholtz Wealth Management. He’s the creator of the popular financial blog Of Dollars and Data and the author of Just Keep Buying and The Wealth Ladder. Link to Full Show Notes: https://chrishutchins.com/the-wealth-ladder-nick-maggiulli Partner Deals LMNT: Free sample pack of my favorite electrolyte drink mix Gelt: Skip the waitlist on personalized tax guidance to maximize your wealth MasterClass: Learn from the world's best with 15% off Notion: Try Notion AI free to automate tedious tasks and streamline your work Trust & Will: Get 20% off personalized, legally binding estate plans For all the deals, discounts and promo codes from our partners, go to: chrishutchins.com/deals Resources Mentioned Nick: X | Instagram | LinkedIn | Blog Pre Order: The Wealth Ladder: Proven Strategies for Every Step of Your Financial Life Research Data Sources Survey of Consumer Finances (SCF) Panel Study of Income Dynamics (PSID) ATH Podcast Ep #59: Save Money, Build Wealth and Just Keep Buying with Nick Maggiulli Ep #206: The Gold Market: Strategies for Investing and Reselling with Trey Benedict Ep #213: The 5 Types of Wealth with Sahil Bloom Leave a review: Apple Podcasts | Spotify Email for questions, hacks, deals, and feedback: [email protected] Full Show Notes (00:00) Introduction (02:15) Big Misconception: Wealth vs. Income (04:43) Why You Should Think About Wealth as a Ladder (08:54) Level 1: Living Paycheck to Paycheck (11:18) How to Grow Your Income in Level 2 (14:04) What Is the 0.01% Rule? (18:43) Leveling Up from Level 3: Investing & Side Hustles (21:21) The Risk of Overspending (22:41) Nick's Research Data Sources (24:15) The Difference Between Level 3 and Level 4 (29:44) Risks People Face at Level 3 and 4 (33:40) Transitioning from Level 4 to 5 (35:56) How to Manage Lifestyle Creep (38:49) Level 5 and 6 of the Wealth Ladder (40:24) The 5 Different Types of Wealth (41:47) How Does Happiness Correlate with the Wealth Ladder? (43:47) The Average Timeline to Climb Up the Wealth Ladder (47:30) Using the 1% Rule to Evaluate Business Opportunities (50:20) Accessing Travel Freedom Through Points & Miles (52:36) Biggest Lessons Nick Learned on His Wealth Journey (53:54) The Impact of Understanding the Wealth Ladder (55:02) Where to Find Nick's Book and Other Work Connect with Chris Newsletter | Membership | X | Instagram | LinkedIn Editor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	understanding how to build wealth isn't just about investing early or spending wisely. It's also
0:06.7	about knowing where you are and what actually moves the needle. So today, I'm joined by Nick Majuli,
0:12.0	a data-driven financial writer and author of a great upcoming book, The Wealth Ladder,
0:16.4	to break down the six levels of wealth in a way that's tactical, clear, and rooted in reality.
0:22.4	As Nick puts it, if you can understand the wealth ladder, then you can really start to control
0:27.4	your time and your life. In this episode, we'll break down every step of the wealth ladder,
0:32.5	what separates those of us who move up from those who stall out, and how to make smarter
0:36.9	decisions at each stage of your
0:38.7	journey. I'm Chris Hutchins. If you enjoy this episode, please share it with a friend or leave a
0:43.0	comment or review. And if you want to keep upgrading your life, money, and travel, click follow
0:47.5	or subscribe. Now let's get into it right after this. This episode is brought to you by Element.
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0:59.7	to stay hydrated.
1:01.2	But if you're like me, you want to do all that without all the sugar and junk that's packed
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1:08.3	That's why I drink Element, a zero-sugar electrolyte drink mix that's become
1:12.2	part of my daily routine. Whether I'm traveling, working out, maybe I had a few drinks, or I'm
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	...

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