#375: The 2X Rule (and Different Wealth-Accelerating Recommendation), with Nick Maggiulli

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Right here’s the deal:

The bulk of people that write about private finance repeat the identical drained aphorisms and cliches.

“Millennials aren’t investing sufficient,” they’ll lament. “Millennials are amassing wealth at a slower tempo than earlier generations!”

However while you ask for his or her supply, they flip up clean. Every author factors to a headline, which sources one other headline, in a neverending round secondary-source-citation that fails to level to any major knowledge supply.

Nick Maggiulli doesn’t play that sport.

If you happen to haven’t heard the identify Nick Maggiulli but, put together to satisfy probably the most unique, insightful voices within the media panorama of private finance and investing. (His final identify is pronounced “ma – julie,” and his godfather refers to him as “paper arms,” however that latter level is a special story for one more day.)

Nick is an information scientist with a knack for clear written communication, a uncommon Venn Diagram intersection of ability units. He holds a laser-focused curiosity within the arenas of private finance and investing, and he’s wanting to share recent, nuanced, evidence-backed takes about financial savings, spending and investing with anybody who will hear.

He lately launched his first ebook, Simply Hold Shopping for; the title displays a user-friendly reminder to proceed dollar-cost averaging. It additionally speaks to the principle concept behind wealth creation: accumulate income-producing belongings, persistently, for so long as you presumably can.

It’s an honor to welcome Nick Maggiulli onto the Afford Something podcast for what I hope is the primary of many appearances. In at this time’s episode, we focus on actionable methods for managing your cash, together with assessing your spot alongside the save-invest continuum, implementing the 2X rule into your spending choices, and saving half of your inflation-adjusted future raises.

Get pleasure from!

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