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Can you be poor and educated? Can you be educated and bad with money? Life is a beatch, most of the lottery winners are not poor, some are quite well off. Money and "luck" tend to favor some than the others even when playing lottery. 27-Year-Old Hedge Fund Manager Wins Powerball Jackpot
Of course buying 15,000 tickets helped, but against all the statistical odds rock bottom poor rarely win anything.
Sure you can be poor and educated, but that is less likely. Most of those living in poverty are poor due to their lack of education. I'm not here to argue outlying possibilities. Statistically speaking, someone is poor due to a lack of education and/or lack of ability to handle finances. Most common is that they have a mix of both.
Also, as mentioned, statistically speaking those poor people are more likely to win lotteries due to their rate of play. Your powerball hedge fund winner is the EXCEPTION to the common powerball winner and aside from that it isn't even true. The article is satire...
A quote from Ronnie Hawkins, the rock and roll legend, about how he spent his money.....
Most of it went on women and booze....the rest I just wasted...
True story, he went into the only Rolls Royce dealership in Toronto, with $24,000 in a paper bag, looking to buy a new car. The salesman wouldn't even talk to him........Later Ronnie came back with his lawyer, and had HIM buy the car, for cash. The salesman was fired.
JiM B.
An auto dealer in Miami told me that if some one bought a car with cash in small bills, that person was a street drug dealer, and if he paid with large bills he was a smuggler or wholesaler.
Can you be poor and educated? Can you be educated and bad with money?.........
Yes, you can be poor and also well educated, but in the case of the well educated who are poor, it is either a lifestyle choice or some serious health, mental health, or addiction issues. Some well educated people chose to take their education and use it for public service. There isn't much money in helping orphans in Africa, so it is done for the job satisfaction. Some well educated people have made the lifestyle choice to study in a field that they love but that does not pay a living wage.
Sure, educated people can be bad with money. It's common for doctors (physicians) to be awful at money management. They have to pay people to manage their money for them. It's not impossible for well educated people with high paying jobs to be buried in debt.
I have to point this out, though. I know a lot of people who have a lot of really big money, and I know a lot of people who are prosperous but not gazillionaires. All of those people are well educated. It isn't necessarily a college degree from a prestigious university. It might be self education from reading books or researching on the internet, or from taking seminars, or from obtaining a mentor.
Not one of those wealthy people or those comfortable people is ignorant. Not one of them has a normal barely-made-it-through-high-school education, like you will find in minimum wage workers.
Being educated might make you rich, it might not. But being ignorant is definitely not going to make you rich.
While we are on the subject, being lazy doesn't make anyone rich, either.
Sure you can be poor and educated, but that is less likely. Most of those living in poverty are poor due to their lack of education. I'm not here to argue outlying possibilities. Statistically speaking, someone is poor due to a lack of education and/or lack of ability to handle finances. Most common is that they have a mix of both.
Also, as mentioned, statistically speaking those poor people are more likely to win lotteries due to their rate of play. Your powerball hedge fund winner is the EXCEPTION to the common powerball winner and aside from that it isn't even true. The article is satire...
Here is a list of stories of struggle and hope, I have yet to find people living on the street winning powerball. Powerball - Stories
As for income, it is directly linked to your place in the pecking order of an organization, it has little to do with your education per se. Providing the will of an invisible hand it can shuffle the pyramid in any way leaving the educated surplus at the bottom. Just imagine undeserving powerball winners joining owning class.
....I don't smoke and I don't play lotteries and I have an occasional beer
...........but I don't feel any better off for not spending in these areas. ........
You might not feel any better off, but you would certainly feel worse off if you spent $300 a month on cigarettes, $50 a week on lottery tickets, and $5 a night on booze.
The lottery will always be a money-maker because no matter what odds are stacked against you, the lottery offers a glimmer of hope. There will always be some people who try to get more education and work up the pay ladder, but many are in a hopeless situation who are unable to save as they barely make ends meet. Imagine how mentally exhausting it is to constantly think about whether or not you can afford something or how you're going to keep the lights on. A brain under duress will not only make poor financial choices, but other types of poor choices.
The sad part is that a decent number of lottery winners go bankrupt. Sadly, many impoverished individuals don't have the financial management skills/knowledge necessary to keep and grow their money.
Here is a list of stories of struggle and hope, I have yet to find people living on the street winning powerball. Powerball - Stories
As for income, it is directly linked to your place in the pecking order of an organization, it has little to do with your education per se. Providing the will of an invisible hand it can shuffle the pyramid in any way leaving the educated surplus at the bottom. Just imagine undeserving powerball winners joining owning class.
Sorry but there is plenty of statistics and reliable government information which can directly link income to education level. Does luck and a little bit of "who you know" play a role? Sure! But so does education.
I am not saying someone on the street winning powerball is a possibility. I highly doubt that the homeless are off buying lottery tickets when they probably are focusing on how they are going to eat. I am saying the lower 1/5th of socioeconomic classes are predominantly buying powerball. That includes those who probably make poverty level wages and collect social welfare. Big difference from the homeless...
Yes, you can be poor and also well educated, but in the case of the well educated who are poor, it is either a lifestyle choice or some serious health or addiction issues.
Not one of those wealthy people or those comfortable people is ignorant. Not one of them has a normal barely-made-it-through-high-school education, like you will find in minimum wage workers.
I am lost about your definitions of "well educated". You can be formally (well) educated and poor because educated or not, most of us are wage slaves on mercy of an invisible hands. It is true that invisible hands tend to throw a jucier bone to the educated (divide & conquer), but not always, it is not required by the Laws of Nature.
sometimes an invisible hand treats educated ones in exactly the same way it treats minimum wage crowd, sometimes educated ones compete with uneducated ones for minimum wage jobs, and, nope, it is not a life style choice, just survival. There is just that much power over circumstances an (un, well) educated person has in a complex society where we dont even know what would affect our wellbeing tomorrow. If we dont know, we cant self-adjust to please invisible masters. Cramming of soon to be forgotten stuff can be as deleterious to your life as not cramming it, so all boils down to circular logic 101. From Graduate School to Welfare - The Chronicle of Higher Education
Someone here - probably in one of the Powerball threads - mentioned that poor people spend a lot of money on lotteries. I recall seeing an average over $500 per year.
And other people have mentioned they spend disproportionately on other vices like smoking and drinking.
I don't smoke and I don't play lotteries and I have an occasional beer with friends when I'm away from home; I figure I spent not quite $20 on alcoholic beverages last year.
So I didn't exactly blow any significant sum on these vices, but I don't feel any better off for not spending in these areas. And there are undoubtedly a lot of poor people who don't smoke, drink, or play lotteries; they probably don't feel any better off for it either.
Which leads me to believe that the spenders are spending a lot more than the 'averages' suggest, and that perhaps these people are prone to blow money on other things as well, e.g. a new Prohibition won't fix their spending problems.
So I'm guessing that dissolute wastrels will always find ways to blow their money, while frugal living doesn't make the poor wealthy.
For Goodness Sake
Being poor DOES NOT equal being a Dissolute Wastrel.
It's a mentality. Whether ingrained or learned, it's a mentality.
Let's just say, there's a person I know.
-He dropped out of elementary school.
-He grew up poor.
-Never really knew his father, his mother was/is a drug addict, and he has done drugs/smoked since he was 11.
-He's got kids by different mothers spread across the country.
-He has a criminal record.
-Best job he held for the last ~5 years in a small-town was working for a city, part-time, at $9/hr.
-He is 32.
A unique situation has enabled him to work for my company. He has worked here since October. He works hard and a lot, thus he gets paid more.
His first few checks from us exceeded $3K (bi-weekly); every check he has received since October has exceeded $2K. He lives rent-free, with his girlfriend and her three kids (the youngest one is his). She brings in about $400-$500 bi-weekly, + gets SNAP/cash aid/child support.
-he smokes two packs a day (I believe he smokes weed too)
-he has developed an unhealthy fast-food habit
-I see him with scratcher lottery tickets at least once a week.
-his only bills in the world are 1 cell phone and auto insurance
I am not kidding you here: HE BLOWS THROUGH THAT $2K-$3K EVERY TWO WEEKS.
and is usually out of money around 4-5 days before payday.
I've offered to help with managing his money. He mostly won't listen, and dismisses that there's even a problem.
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