Why are you not a Millionaire? (taxes, safety, healthcare, companies)

[TechGromit]

Originally Posted by mikeyking

A large percentage of the population are highly educated, have apparently high IQ's - but at same time despite having high IQ's choose to work for fairly average wages.

So your suggesting that if your "smart" you should be rich? So Stupid people should be poor? Things are not quite so cut and dry. There are other ingredients involved in the Millionaire Recipe. Ambition in certainly one of them, Attitude, and a certain amount of luck is involved too. Just being smart doesn't ensure a bright future, it certainly helps, but it ensures nothing.

[jertheber]

While working at the worlds largest aircraft company I had the opportunity to see the human ego operating at it's worst. A lot of the newcomers were often heard speculating about the various "fixes" they would implement were they to somehow end up running things. The fact of a seventy billion dollar annual revenue stream was conveniently tossed aside in their feeble attempt to plumb the depths of corporate problems.

It's obvious that most people like to think of themselves as being a little smarter than the average bear, but original thinking seems to be the key in all things creative. Creative people are not hampered by any restraint of vision, they seem to possess that peculiar ability to get to the heart of things by observing the needless aspects of how things are currently done and make the necessary improvements that make the task at hand an easier one. Most of the good inventions have been the result of keen observation not a high IQ. It's been noted that several kinds of intelligence have been identified, being creative may just be a defining attribute of one of those types of intelligence that humans have benefitted from through the centuries.

Money and intelligence don't necessarily meet up in every case where either is noted as a defining aspect of any particular individual, Sam Walton was not the brightest guy on the block but that didn't mean he wasn't a creative thinker, Bill Gates is certainly not a man of extraordinary intelligence but he was also a creative guy, Ditto for Paul Allen, Steve Jobs and a host of others that adequately demonstrated the fact that dollars and brains are two very different considerations when trying to determine the intelligence of others...

[slackjaw]

Originally Posted by capitalcityguy

Anyone who is relatively young (45 or less? ) better plan on having a million ++ saved by their intended retirement date unless they aren't planning on living at the same lifestyle they did during their working years.

I believe this is an over generalization, since you don't know what people's lifestyle is relative to their income. If someone has a paid off home, no debt, and earned a good enough salary to max (or near max) ss it is entirely possible to live a comfortable retirement with social security income, medicare bennies, and significantly less than a million dollars in the bank.

[mikeyking]

Originally Posted by jertheber

While working at the worlds largest aircraft company I had the opportunity to see the human ego operating at it's worst. A lot of the newcomers were often heard speculating about the various "fixes" they would implement were they to somehow end up running things. The fact of a seventy billion dollar annual revenue stream was conveniently tossed aside in their feeble attempt to plumb the depths of corporate problems.

It's obvious that most people like to think of themselves as being a little smarter than the average bear, but original thinking seems to be the key in all things creative. Creative people are not hampered by any restraint of vision, they seem to possess that peculiar ability to get to the heart of things by observing the needless aspects of how things are currently done and make the necessary improvements that make the task at hand an easier one. Most of the good inventions have been the result of keen observation not a high IQ. It's been noted that several kinds of intelligence have been identified, being creative may just be a defining attribute of one of those types of intelligence that humans have benefitted from through the centuries.

Money and intelligence don't necessarily meet up in every case where either is noted as a defining aspect of any particular individual, Sam Walton was not the brightest guy on the block but that didn't mean he wasn't a creative thinker, Bill Gates is certainly not a man of extraordinary intelligence but he was also a creative guy, Ditto for Paul Allen, Steve Jobs and a host of others that adequately demonstrated the fact that dollars and brains are two very different considerations when trying to determine the intelligence of others...

I think that's correct - it takes a bit of original thinking - There are so many people who no real ideas or opinions on anything, or in depth thinking processes - Lot of education just creates clone like thinkers - for example look at many dissertations are rehashed versions of other peoples research - they never really try to come up new conclusions or ideas just something that reads well. The same can be said about much TV, Fiction, and research - just copycat and banal. The same can said of many businesses, there just copycat versions of others.

For example a TV show becomes popular in one country, instead of trying to come up with some better, they just buy the rights to it.

I see many smart people good at implementing, executing, copying a good well thought out idea from other people, or perhaps optimising, good at criticizing, picking faults, assimilating other peoples knowledge, and generally doing a good job - but lack any ability to actually develop and create something themselves

But mainly try to leave the real work of developing research, system, procedures, software, and attempt to parasite of their ideas, research and work.

[animalcrazy]

Originally Posted by proverbs23and7

I told my Father nothing will make me happier as when the day he dies I go to his banking account and there is $11 in it.

Good for you, however you are not the norm.

[Hemlock140]

I just did a calculation of all the money I have made over the years and it came out to 2,100,000. Does that make me a multi-millionaire? I think not, since I spent most of it along the way raising a family.

[proverbs23and7]

Originally Posted by MaseMan

This is exactly what the book, "The Millionaire Next Door", is about. Well worth reading for those who haven't yet.

Read it a couple of years ago, good book.

[creeksitter]

if you’re so smart, why ain’t you rich?”

Haha, I used to eat lunch at a diner that posted that license plate. $1.25 for meat +2. Brought back some good memories of a place that has since fallen to road construction.

The easiest way to be rich in this country is to have good people skills, to inspire good people to work for you and do good work. It's more about social intelligence than IQ. I, myself am lousy at this and have a hard time supervising more than one person at a time. That's OK though. I consider myself sucessful even though I'm not a millionaire.

[ambient]

Originally Posted by mikeyking

Ok, so you are not going to answer the question then? Just take it back to a discussion about grammar - I am guessing your not a millionaire.

I am guessing YOUR not one, either.

A smart person would recognize that being a millionaire (or not) is not a good measure of intelligence.

[swgirl926]

First, if someone comes off as a know-it-all, it's a sure sign that they really don't. Truly intelligent people know that there is always more to learn, and room to improve.

There are people that come across as being "smart" because they happen to know a lot of obscure facts. They might clean house on an episode of Jeopardy!, but that doesn't mean that they possess any business acumen or financial education.

People already posted about things like upbringing, skill, motivation, hard work, and timing, but what about risk? Some people can't stomach the thought of starting a business that may not thrive, or making an investment decision that doesn't pan out well. Many people are more comfortable having an employer call the shots and assume the risk.

One thing I've noticed among people I know who are intelligent, yet persistently poor, is akin to a "poverty" mentality. They seem to think that people only amass wealth by screwing people over; they are fond of saying things like "[love of] money is the root of all evil"; they think that people who have money are all jerks, and so on. I guess it's one of those "crabs in a bucket" instances where they themselves are surrounded by people who are also poor and who are quick to criticize anyone who takes the smallest step to better himself.