The Best Way To Build Your Personal Wealth - Nick Maggiulli - #462

**Chris Williamson** (0:00)
Hello, everybody. Welcome back to the show. My guest today is Nick Maggiuilli. He's the Chief Operating Officer for Ritholtz Wealth Management and an expert in personal finance using data analysis. Saving money and building wealth are some of the most popular content on the internet. But what are the absolute best ways to maximize your fortune? Nick has broken down the complex world of personal finance to find out what the data actually says about different strategies. Expect to learn why earning more is better than spending less. Why buying the dip is a losing strategy. The easiest way to invest in the stock market. How to spend money guilt free. Why almost everyone has a backwards retirement strategy. How to tell when you should sell. What the Vanderbilts lost fortune can teach us about spending money. And much more. This is an absolutely awesome episode. I love when a complex, highly contested world gets broken down by somebody that just has tons of data and experience. And Nick has done this. This is the sort of episode that you should come back to anytime that you're trying to make some sort of financial investing or saving decision. Just come back to this and think about what did Nick say? What would Nick do? WWND. Get it on a t-shirt or something. Anyway, enjoy this one and share it with a friend if you think that they suck at earning money or spending money or saving money. In other news, this episode is brought to you by Let's Get Checked. Recent studies have shown that men's testosterone levels are dropping substantially since the 1980s at about an average of 1% per year. Low testosterone can have all types of health effects on men. It can cause you to lose muscle mass in your body. It can affect your mood, your memory and even your sex drive. So if you are training in the gym or in the bedroom and struggling to see the results that you want, this may be the reason why. Low testosterone is more common the older you get, but it can affect men of any age. Let's Get Checked are a worldwide leader in at home testing kits and their male hormone tests allow you to easily test your testosterone levels at home. You can order a testing kit that will be delivered to you in a discrete packaging with next day delivery. Once a sample arrives in the laboratory, confidential results will be available from your secure online account within two to five days. These results are reviewed by a clinician and a member of the Let's Get Checked nursing team may call you to review your results as well. Let's Get Checked laboratories are CLIA approved and CAP accredited which are the highest ranking levels of accreditation. So if you want to test your hormone levels without having to leave your house, visit trylgc.com/modern to get 30% off your test. The code MODERN30 at checkout, that's trylgc.com/modern.
Then choose the UK or the US at the top of the page based on where you are. And then the code MODERN30 to get 30% off. And it's just going to give you peace of mind, trylgc.com/modern. In other other news, this episode is brought to you by DW Aligners. They can give you the perfect straight smile that you have always dreamed of. 70% cheaper than other invisible align methods. It can be done in as little as three months. And they are now offering 10% off exclusively to Modern Wisdom listeners. So if you've been thinking about getting your teeth straightened, now is the time to do it. DW Aligners are one of the best companies in the UK to do this. And you get a free premium whitening kit with every single plan. Their digital system means that you can skip regular trips to the dentist. It is an easier, quicker and cheaper way to get the smile that you've always dreamed of while still receiving all the support and expertise you would traditionally. Plus, they also offer great finance plans. You will have a treatment coordinator that helps you every step of the way. Plus, their digital scanners and artificial intelligence scanning system is half a billion scans deep and counting. So there is a team of registered dentists to ensure that you're moving forward correctly, plus a ton of AI to help you along the way. Head to dwaligners.co.uk/modernwisdom. And the code MODERN10 gets you that exclusive 10% discount. They've never done this before. They're probably not going to do it again. So if you want to go and get your teeth straightened in the easiest and most discreet way possible, dwaligners.co.uk/modernwisdom and the code MODERN10 for 10% off a checkout. And in final news, this episode is brought to you by Athletic Greens. I've always wondered why Tim Ferriss was going on about Athletic Greens for so many years. And then I finally used it after a long time of trying pretty much every other greens drink under the sun and it is by far the best and most advanced, most comprehensive greens drink that I've ever found. If you don't think that you're eating enough fruit and vegetables in your diet, and let's face it, nobody is, this is for you. Contains 75 vitamins, minerals and whole food sourced ingredients, including a multi-vitamin, multi-mineral, pre and probiotic green superfood blend and more that all work together to fill the nutritional gaps in your diet. It increases energy and focus, aids with digestion and supports a healthy immune system, all without the need to take multiple products or pills. It's lifestyle friendly, whether you eat keto, paleo, vegan, dairy free or gluten free, and it contains less than one gram of sugar. They've updated the recipe 53 times over the last 10 years as new research has come in. And I stopped using it because somebody in my apartment block stole my packages from me. And life wasn't as good without it. So I've done a negative pilot and can confirm that life is significantly better with Athletic Greens. Plus you get a 60 day money back guarantee. So if you are thinking of trying it, you can buy it and try it for 59 days. And if you do not like it, they will give you your money back. Head to athleticgreens.com/modernwisdom. You'll get a year's free supply vitamin D, five free travel packs, free pots, shakers, plus that 60 day money back guarantee. That's athleticgreens.com/modernwisdom.