The person with $10M who thinks they need $20M will always feel poorer than the person with $100k who thinks they need $50k. The most expensive thing some people own is their ego.

LIVE NOW - How to 10x Your Income: 6 Levels of Wealth with Nick Maggiulli Everyone wants to climb the wealth ladder - but very few ask if they should. In this episode, @RyanSAdams sits down with @dollarsanddata to explore the six stages of wealth, how your strategy should evolve at each level, and why reaching the top isn’t always the win it seems. From early savings and side hustles to ownership leverage and lifestyle trade-offs, Nick guides us through practical, data-driven ways to build wealth, without losing sight of happiness along the way. If you’re somewhere between $10K and $10M, this episode is for you. -------------- TIMESTAMPS 0:00 Intro 6:34 The Wealth Ladder Model 16:55 The 0.01% Rule & Smart Restraint 21:02 Time’s Role in Wealth Building 24:02 Demographics, Inflation & Shifting Rungs 30:29 How to Climb (and Avoid Falling) 41:19 The Ownership Threshold 50:20 Knowing When to Stop Climbing 54:45 Wealth vs. Happiness 1:08:01 Crypto, Leverage & Final Advice

Nick is a mad scientist. Anything he writes, I read. I can't recommend this enough. Get his new book.

I'm almost finished with The Wealth Ladder by @NickMaggiulli—tremendous read. It’s already reshaped how I talk with clients about wealth mobility and quality of life. Easily one of the best personal finance reads within the past few years.

Really enjoyed Nick's latest book The investor and complex systems aficionado in me really appreciated the scale dependence and thinking about how the scale of your wealth ($10k vs $1m) impacts what matters in terms of spending and wealth building There's a thoughtful Theory-of-Constraints angle here where the constraints sort of shift at each level. Towards level one and level two, it's really about developing your human capital, knowledge, skills, and networking. But then as you get into the middle rungs, it becomes more about leveraging your financial capital. The author in me appreciated that it's tightly written (200 pages) with nary a wasted word, and really delivers on what it says about how to do it. The human in me appreciated that it's not strictly the financial component, but also a thoughtful reflection on wealth more holistically. Part of that is the things that large amounts of wealth can cause: anxiety, divorce, friendship problems, etc. Part of that is consdiering mental wealth, physical wealth, emotional wealth, and how all those components come together to form an individual's wealth ladder. He also quotes Felix Dennis's criminally underrated and hilarious book How to Get Rich more than a couple times!

When @dollarsanddata first shared the concept for "The Wealth Ladder" with me, I knew immediately it was going to be a.) a hit and b.) much needed. Nick has given generously to our community through his writing and sharing, and if you've benefitted from his work like I have, I hope you'll grab a copy of his new book.

The data is clear. If you want to build generational wealth? Owning income-producing assets is essential.

I’ve joked for years that cash works well as bookmarks and now I have a laminated one thanks to Nick. Please go support Nick on his new book launch (link below). He is a fantastic writer and friend.

This is very good.

In my blurb for @dollarsanddata's new book, I wrote: "Nick Maggiulli has a gift for blending the rational world of data with the power of storytelling, and does so seamlessly with this incredible book." The Wealth Ladder is out, and it's a true gem: