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I would say that in general, it's not so much raw intelligence or even education that leads people to financial success as much as common sense and self control.
Common sense equates to wisdom i.e. experiences, intuition, habits (and the applicability of such). The greater one’s intelligence (and ability to reason/learn/apply), the more one will have to draw from regarding common sense.
Lack of self-control, on the other hand, is relative to psychological health i.e. sensory processing issues, rage and whatnot. That said, I agree such a person isn’t likely to be rich for long, if at all; however, it isn’t necessarily a measure of their intelligence, either.
Quote:
Originally Posted by treasurekidd
I'm a middle class, blue collar guy myself, and I know plenty of intelligent people who make more, in some case significantly more money than I do, but lack common sense and self discipline and are in debt up to their ears and have a lower (sometime significantly lower) net worth than I do.
If the folks you know are ‘in debt up to their ears’ and have a low net worth, then they aren’t rich (and the thread isn’t speaking to them anyway, unless you’re using them as an example at the other end).
A research scientist at Duke found that billionaires, as a whole, are highly-educated and almost half have attended academically-elite universities. That said, obviously, it could be argued those who manage to become ‘rich and successful’ in business sans the formal education (like the rest of us) are even smarter.
If the folks you know are ‘in debt up to their ears’ and have a low net worth, then they aren’t rich (and the thread isn’t speaking to them anyway, unless you’re using them as an example at the other end).
I didn’t call them rich, I said they made more money than I do. Their higher incomes make them believe that that are rich, or at least well off, and that they deserve a more expensive life, which is the quickest way to be poor.
I didn’t call them rich, I said they made more money than I do. Their higher incomes make them believe that that are rich, or at least well off, and that they deserve a more expensive life, which is the quickest way to be poor.
Can anyone say folks who earn their wealth don’t deserve it (or that they aren’t smarter, as a whole, relative to the thread). It’s a bit of common sense in play.
That said, I think your (or your friends’) definition of ‘rich’ is different than mine as they aren’t going to suddenly be poor relative to spending that is commensurate with their wealth. In other words, it’s usually the folks who don’t have money that like to spend it as if they do (or gossip about such, for that matter) i.e. they aren’t smart enough to earn it first (and invest).
Olivia Jade spends her days hanging out on party yachts when she isn't "working" as a social media influencer. We all know how smart she is.
Obviously, there’s a difference between those who earn their wealth in business (or as a neurosurgeon) vs. celebrity, in and of itself. That said, how many social media influencers are decamillionaires and/or have a net worth of $40M or more? In other words, said yacht is not likely hers. ;-)
Obviously, there’s a difference between those who earn their wealth in business (or as a neurosurgeon) vs. celebrity, in and of itself. That said, how many social media influencers are decamillionaires and/or have a net worth of $40M or more? In other words, said yacht is not likely hers. ;-)
I she marries the old dude who owns the yacht then she will instantly be a yacht owner, too.
It's how those people roll. They can't earn a day of honest pay but they sure know how to get money and spend it.
I didn't read all 36 pages, but I noticed that any job with quick results is easy, and easy means low pay. So conversely, to get a high paying job, you need patience to go through schooling and get certifications to make your abilities more appealing. You need to accept that your goal is years down the road. If you can't wait that long, then you're stuck only being qualified for quick and easy jobs, i.e. low-pay.
You also need confidence in yourself to believe that you can handle a high-paying job. If you feel overwhelmed or believe you'll fail, you'll never apply for those jobs. You also need high self esteem to believe that you're capable and worthy of such pay in the first place.
This is what I noticed after many years of observing people's personalities who have high-paying jobs. For the record, my definition of high paying is $100K.
I don't think 100k is considered high paying anymore.
Going back to the OP: If you've climbed the corporate ladder a bit, you have emotional intelligence and presumably some negotiation skills. Big numbers and percentages are not foreign. In other words, you can probably speak well with a car salesman.
If you're the result of generational wealth, you've probably received a fairly solid education. You, too, can probably speak well with a car salesman.
But having been in the background a few times with those of generational wealth, I can attest to it that they can be some of the dumbest people - in the sense of making really, really bad decisions.
Better half used to work for one... High-double-digit millions in property. Almost went to prison twice, once over campaign finance, once over tax evasion. Along the way marrying and divorcing a succession of (smart) women who left with a good chunk of his assets. The stories from his circle of friends tended to be along the same lines. These guys would lose six-figure sums on poorly-thought-out schemes. But they were charming and well-spoken, well-read, informed. (The people surrounding them - lawyers, accountants, concierge companies etc. - they were smart.)
I she marries the old dude who owns the yacht then she will instantly be a yacht owner, too.
It's how those people roll. They can't earn a day of honest pay but they sure know how to get money and spend it.
I don’t think the thread is speaking to wealthy folks by marriage, inheritance or celebrity; such a discussion would be meaningless (and pretty funny).
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