"The cost of tax mistakes increase tenfold with every new wealth level"
Nick Maggiulli of Ritholtz Wealth Management is live with me and Andre this Thurs to talk about his new book, The Wealth Ladder
Andre and I interview Nick Maggiulli about his new book, The Wealth Ladder, live this Thurs.
Tax mistakes become increasingly painful as wealth grows…
…taxes become an even more important line item in Levels 5–6. Having a good accountant and being mindful of your tax decisions (e.g., where you live, when you sell your assets, etc.) can make a huge difference to your bottom line. While taxes matter for everyone, the cost of tax mistakes increase tenfold with every new wealth level. This is especially true if you plan on leaving assets to your heirs after you’re gone. Having the right estate plan can literally save you millions if the proper structures are put in place ahead of time. While it’s hard to make general statements about taxes given how individualized they can be, having the right tax team should pay for itself in Level 5 and beyond.
Nick Maggiulli (The Wealth Ladder, 2025)
…this explains why wealthy people are more sensitive to tax
I never understood why wealthy people would expend so much effort trying to pay less in taxes. But as my tax rate went up, I started to get it. It’s not you until it’s you.
Nick Maggiulli (The Wealth Ladder, 2025)
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Speaking of generational wealth
Lastly, did you know?
