The Learning Leader Show With Ryan Hawk

548: Nick Maggiulli - The Power of Compounding, Creating a Writing Practice, Building Your Career, & Proven Ways To Build Wealth

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Synopsis

Text Hawk to 66866 to become part of "Mindful Monday." Join 10's of thousands of your fellow learning leaders and receive a carefully curated email from me each Monday morning to help you start your week off right... Full show notes at www.LearningLeader.com Twitter/IG: @RyanHawk12   https://twitter.com/RyanHawk12 What’s the Matthew Effect? The Matthew effect explains how two people can start in nearly the same place and end up worlds apart. In these kinds of systems, initial conditions matter. And as time goes on, they matter more and more. Instead of saving a fixed percentage of your income, save more when you earn more and less when you make less. The best way to save more is to earn more, not cut expenses to the point of being miserable. The real question money forces us to answer is what’s important to us in life. You should save what you can, when you can. Relying on a fixed, prescribed savings rate is nonsense. The Dolly Varden trout, an Alaskan fish species, puzzled biologists for decades. Despite o