Legacy Podcast - Nick Maggiulli, COO, author, and blogger
Written by Ari Parker — Updated: Thursday, December 22, 2022
An interview with Nick Maggiulli, COO of Ritholtz Wealth Management
Nick Maggiulli, COO of Ritholtz Wealth Management, author, and blogger, discusses his writing and advice for retirement planning.
Three Things You'll Learn
How to approach investing, saving, and lifestyle creep without guilt.
How data analysis can provide a more accurate perspective on investing and saving.
Advice for planning for and enjoying retirement.
A summary of the episode
Nick Maggiulli, COO of Ritholtz Wealth Management, author, and blogger, discusses his writing and advice for retirement planning.
Nick begins by describing the difference between investing and saving; specifically, that it's more important to focus on saving when you have less money and investing once you have more money.
He also addresses lifestyle creep, pointing out that it is not necessary to save every penny of a raise, but it is important to avoid having to push back your retirement date.
People often feel guilty when it comes to spending or saving money. Nick provides the perspective and data to help offset that guilt.
“I’ve been in the financial industry for four years now. I’m not some expert that has fifty years of experience. I’m letting the data talk for itself, and that’s why I think this has really resonated with people, because I’m not out here saying ‘I know more than you.’ No, I don’t. I’m actually coming in this clueless and saying, ‘what’s actually true,’ and I’m just analyzing the data and seeing what it tells me.”
Nick's book is his legacy. He is open in his writing, sharing both personal struggles and his family’s legacy. These experiences made a big impact on him and the role he wants to play for his future family.
“I focus so much more on health because I want to be around. I don’t know if I’m going to be around to be someone’s great-great-grandparent, I doubt that, but if I could be someone’s grandparent for sure, and if I could be a great-grandparent, that would be amazing.”