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:

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!

Learn more about your ad choices. Visit megaphone.fm/adchoices

MI Rewind: Just Keep Buying w/ Nicholas ...