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Nick Maggiulli

COO and Data Scientist, Ritholtz Wealth Management

Search every verified Nick Maggiulli interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Nick Maggiulli, chief operating officer of Ritholtz Wealth Management and author of the blog Of Dollars and Data, appeared on the Office Hours podcast with Scott Galloway in July 2026 to answer listener questions about building wealth on modest incomes. During the episode, he discussed strategies for paying down debt, such as prioritizing minimum payments and an emergency fund before allocating extra funds to the highest-interest obligations. He also addressed retirement income planning, cautioning against overemphasizing dividends, and advised young families on whether to keep investing or wait for an inheritance, suggesting that treating potential inheritance as "found money" could help avoid financial distortion. Maggiulli also shared a personal anecdote about his father, who died with $800,000 to $900,000 but was "terminally cheap" and never fully enjoyed his money. He used this example to argue that the purpose of financial responsibility is to eventually spend on meaningful experiences, home improvements, or charitable giving, rather than accumulating wealth without purpose. He further noted that money's significance shifts across life stages, holding less meaning in youth and old age, and emphasized that individuals should not go into debt in anticipation of an inheritance.

Recent appearances

Verified interview transcripts

Notable quotes

“I think they're in a great situation. The fact that they have a business with low overhead that basically covers their expenses. All the rest of this is either upside or just planning for the future when they either sell that business or wind it down. I think for them there's going to be two answers I'm going to give. I'll give the answer I think they want to hear and then I'm gonna give the answer which I think is t”

“I think the first thing you got to do is make sure you're making the minimum payments. I think you don't make those, then you start getting late fees, all those types of things. So, as long as your minimum payments are taken care of, you have your emergency fund. So, the first two things. After that, you rank order everything from highest to lowest return or you could say highest interest rate to lowest interest rate”

“The issue is if you look in level three, I mean most of their assets are in their primary residence. So, they buy their home. They have some retirement accounts. They don't have nothing. But the people in level three that are doing that, they're not maxing their retirement accounts. They're putting in the they're getting their match. They're doing their thing. And if you do it over a long time, it ends up being a sma”

“So, depending on how much wealth you have and how much your wealth can generate in terms of income that's really the big thing to kind of take into account here. You've got this cool number, this cool rubric to think about what's a trivial amount of money for you and it's 0.01% of the wealth you have is generally a rule of thumb of that's the number that is that you think of yeah okay I'll make that decision that's f”

“The thing to keep in mind is like certain strategies might make sense for someone in level one and not make sense for someone in level six and vice versa, right? And so the simplest one I like to talk about is owning your own business, right? I think people are like business ownership is the key to wealth. And if you actually look at the data, the wealthiest people all own their own businesses, right? Like overwhelmi”

“The idea there is you take your net worth and you multiply by 0.01% which is 0.00001 or more simply divide by 10,000. So you take your net worth divide by 10,000 that's going to give you a number right? That number is approximately how much your wealth is going to generate daily, right? On in a very conservative sense, right? So like if you do 0.01% and you compound that every day for a year, it's about 3.7% a year. ”

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