Ritholtz Wealth Management

Chief Operating Officer

Data Scientist

Cornerstone Research

Senior Analytics Consultant

Analytics Consultant

Senior Analyst

Provide financial and economic analysis for commercial litigation matters.  Support experts in preparing for deposition and trial testimony.

Analyst

Federal Reserve Board (Banking Supervision and Regulation)

Risk Policy Intern

Stanford University

Research Assistant for Program on Energy and Sustainable Development

Acumen LLC

Quantitative Research Analyst Intern

Stanford Institute for Economic Policy Research (SIEPR)

Research Assistant

Nick Maggiulli

I can't stand AI-assisted writing anymore. It’s all over Substack. It’s in my LinkedIn replies. It’s everywhere. Like a disease slowly infecting our literary consciousness.

My latest on the rise of AI writing and why cognition will always be an edge:

https://lnkd.in/esAjhX7q

NY Times Bestselling Author | COO at Ritholtz

Your career is an asset class.

If you work in tech, you shouldn't own a lot of tech stocks. If you're a real estate agent, you shouldn't invest in a bunch of rental properties. Why?

Because you are inadvertently doubling down on the same set of risk factors.

Most people think of their career and their portfolio as distinct buckets. Your career is your income and your portfolio is your wealth.

But they are deeply connected.

If you're an engineer at Google and tech sells off, you risk losing your job and the portion of your wealth linked to technology stocks. If you're a real estate agent and the housing market slows, you risk losing commissions and rental income.

I work at a wealth management firm whose revenue is directly tied to the stock market. Do you think my personal exposure to financial assets should be the same as someone working in fashion or retail? Should we both just buy the S&P 500 and call it a day?

I don't think so.

Your career is an asset class. Hedge it accordingly.

You can't budget your way to $10 million. You can't coupon your way to financial freedom.

There's a mathematical limit to how much you can cut your expenses (it approaches zero). Even the top 20% of earners have to spend something on their necessities (see chart).

But there's no limit to how much you can increase your income.

There's a reason why those with the highest incomes also have the highest savings rates—they have far more than they need.

Stop trying to reduce your budget by 10% and start trying to increase your income by 50%.

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There are two types of risk in life: Fast Risk and Slow Risk.

Fast Risk is the stuff that makes headlines. It’s the things that we are warned about everyday:

"Don’t drive without a seatbelt."
"Don’t cheat on your spouse."
"Don’t use too much leverage."

The reason for this is simple—the consequences of Fast Risk are immediate and usually devastating. You get severely injured. You get divorced. You go broke. There’s a clear line between how your life was before and after the risk materialized.

But then there’s Slow Risk. 

Slow Risk is the accumulation of bad decisions that eventually leads to an unwanted outcome:

It’s developing heart disease after decades of improper eating. 
It’s getting divorced after neglecting your spouse for years. 
It’s sitting in cash while you wait to buy the dip.

With slow risk, there’s no single event that you can point to and say, “Here’s where I went wrong.” No. It’s the cumulative effect of your improper decision-making that leads you astray.

Everyone thinks about Fast Risk, but intelligent investors focus on Slow Risk too.

Return on Hassle > Return on Investment

Focus on maximizing sleep, not maximizing returns.

If you know, you know.

When was the last time you got called in the middle of the night about your index fund?

One of the biggest myths I hear in finance is that property investing gives ‘passive income’.

In reality, property/real estate is one of the least passive investments there is.

This graph from Nick Maggiulli illustrates it well.

Property can be a great investment - there are plenty of benefits that come with it.

But it’s not passive. 

You aren’t going to get a call in the middle of the night about your index fund.

You might get one about your rental property.

Make sure the extra return is worth the extra hassle.

The worst investments I've ever owned all share one thing in common—I couldn't sell them.

My latest on the high price of illiquidity and how I learned this lesson the hard way: https://lnkd.in/eai8tggt

Every year I compile my favorite investment writing, and 2025 did not disappoint.

Like it, share it, or bookmark it for later. Whatever you do, don't miss out on these amazing pieces.

My Favorite Investment Writing of 2025:

Open article: Protected: My Favorite Investment Writing of 2025 (DRAFT) by ofdollarsanddata.com

Protected: My Favorite Investment Writing of 2025 (DRAFT)

I think I've found the mortgage-backed security (MBS) of our era. It's called conduit debt financing and it might be how the AI bubble eventually pops.

My latest on the obscure financial structure that could trigger the next crisis:

https://lnkd.in/epB_-n8Q

Financial Synergies Wealth Advisors

Financial Synergies Wealth Advisors, Inc. is an independent investment advisory firm in Houston and Tyler, Texas.  We specialize in investment management, retirement planning, and general financial planning.  We work with people in all phases of the investment life cycle; spanning from the younger, more aggressive investor, to the retiree drawing income from the portfolio.

Our financial advisors are Certified Financial Planner™ professionals, who have been helping clients achieve their goals for over 30 years.  We are honored to be our clients’ trusted advisor for all of their financial needs.

Senior Financial Advisor

The Legacy One Group

My role focused on comprehensive financial planning, covering an array of topics including: investment advising, retirement income planning, education funding, risk management, estate planning, and tax management.

Advisory Team Associate

Choice! Energy Services

Choice Energy Services specializes in energy management for commercial and industrial businesses in deregulated energy markets in Texas and the U.S.  

Choice provides ongoing energy solutions in a convoluted marketplace allowing clients to focus on their core business.  Services include: energy procurement consulting, bill audits, power factor consulting, demand response, bill payment & data reporting, and conservation consulting

Energy Consultant

PerioPal, LLP

Contributor to the development of startup dental software company and establishing a recognized brand in the dental industry.  PerioPal is a voice-driven periodontal charting software system for dental practices.  The company’s mission is to increase dental office productivity and improve the quality of care for dental patients

Sales Representative and Business Development

Residential Real Estate

I worked as a Realtor in conjunction with working for a software startup firm. My areas of focus were residential leasing, sales, and property management.

Realtor

Senior Financial Advisor | Financial planning and investment management for oil & gas professionals

Should you work with a financial advisor?

This is how I look at it...

Many people reach an inflection point as they progress through their career. Their financial life becomes more complicated, yet they have less time to deal with it. Their time and energy are focused on work, spending time with family, and other interests.

This can lead you to an uncomfortable position... knowing you need help but not sure where to get it.

As a financial advisor, I help in 2 main ways:

1) Investment management - it starts with a full review: 

-Analyze your current investing approach.
-Assess the tax-efficiency of your current savings.
-Provide ongoing management for your investments.
-Consolidate old accounts to simplify your financial life.
-Create a plan to balance current cash & future savings.

2) Financial planning - a deep dive to understand:

-How much are you saving?
-How and where are you saving?
-Who else relies on your financially? 
-What is your income and expenses?
-Have you done your estate planning?
-Do you have unmet insurance needs?
-When do you realistically want to retire?
-What would your ideal retirement look like?
-What concerns you most about your finances?

And so on…

---

People I typically work with:

-High income earners 
-Mid-to-late career (or retired)
-Have growing financial complexities
-Seeking ongoing professional advice

I work with people across many industries, including:

-Consulting
-Technology
-Manufacturing
-Business owners
-Oil & gas / energy
-Medical professionals

And our firm is accepting new clients. 

---

If any of this resonates with you, I invite you to book an appointment using the following link. Or you can send me a message here on LinkedIn.

https://calendly.com/willgoodson/discovery-meeting

I live in Tyler, TX and work with people all over Texas & the U.S.
_______________________________________

A little about me...

- I'm married with two kids.
- Born and raised in Texas.
- I'm an Eagle Scout.
- I love watching sports and coaching little league.
- Love learning about all types of businesses.

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The Battle

Nick Maggiulli

Will Goodson, CFP®

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taplio

The Battle

Nick Maggiulli

Will Goodson, CFP®

Followers

Posts

Engagements

Likes

Performance Score.css-goub6s{font-size:var(--chakra-fontSizes-md);font-weight:500;color:var(--chakra-colors-gray-600);display:block;margin-top:var(--chakra-space-1);}Nick Maggiulli's LinkedIn Performance

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Performance ScoreNick Maggiulli's LinkedIn Performance