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Many people say hard working, intelligent people will become rich. Usually they use it defend the fact top 1% of people in US own most of wealth in the USA. However, the FACT is most hard working, smart people will not get rich.
There are about 50 million people (or 27% of the US population) with BA degree or above. I would assume most of these people are intelligent and hard working. However, there are only 7.9 millionaires in the US (about 2.5% of population), which means most of these hard working people are not rich. This doesn't even consider becoming super rich billionaires, there are only 403 billionaires of them in United States. Most intelligent, hard working people will find it impossible to join the ranks of the rich.
I would think the posters/people who keep on sayings smarts and hard work leads to riches are themselves intelligent and hard working. Question is how many of them, if any, are actually millionaires? I would guess only a very few!
Your theory/logic is flawed in many ways, I will name just two:
1.) You assume that most people who finish college are intelligent, which in my experience couldn't be further from the truth.
2.) You set the limit for being rich at 1 million USD, which would mean that somebody with 900000 USD in the bank is poor or middle class, which is of course ridiculous.
When people say brains and hard work will make you rich what they really mean is 'excessive and sustained hard work' and 'a cunningly quick mind' can make you rich eventually.
It's not a matter of working hard 40hrs a week and having a good brain. It's working insanely hard every waking hour generally at your own business and keeping an eye out for all opportunities, all risks, and all ways to make the most of your money while keeping expenses under your control. That's how it's done.
Your theory/logic is flawed in many ways, I will name just two:
1.) You assume that most people who finish college are intelligent, which in my experience couldn't be further from the truth.
2.) You set the limit for being rich at 1 million USD, which would mean that somebody with 900000 USD in the bank is poor or middle class, which is of course ridiculous.
Many people say hard working, intelligent people will become rich. Usually they use it defend the fact top 1% of people in US own most of wealth in the USA. However, the FACT is most hard working, smart people will not get rich.
There are about 50 million people (or 27% of the US population) with BA degree or above. I would assume most of these people are intelligent and hard working. However, there are only 7.9 millionaires in the US (about 2.5% of population), which means most of these hard working people are not rich. This doesn't even consider becoming super rich billionaires, there are only 403 billionaires of them in United States. Most intelligent, hard working people will find it impossible to join the ranks of the rich.
I would think the posters/people who keep on sayings smarts and hard work leads to riches are themselves intelligent and hard working. Question is how many of them, if any, are actually millionaires? I would guess only a very few!
So.....what are you advocating for exactly? Socialism Cuban style, where everyone, regardless of outcome, has equal pay?
You can make a reasonable income and not be a rocket scientist--the same goes with being good with money, although being smart helps. Have you ever read the book "the millionaire next door?" Most real millionaires own businesses and they're frugal. They also started saving and investing when they were pretty young. On the other hand, lots of very smart, otherwise successful people aren't good with money. Many make big incomes, but don't have much to show for it at the end of the day.
Your theory/logic is flawed in many ways, I will name just two:
1.) You assume that most people who finish college are intelligent, which in my experience couldn't be further from the truth.
2.) You set the limit for being rich at 1 million USD, which would mean that somebody with 900000 USD in the bank is poor or middle class, which is of course ridiculous.
Agreed!
And I will add a third:
3.) The definition of Rich is different for everyone. Some people consider things beyond money make them rich.
Are you trying to set the limit of $1million in assets, money in the bank, or a combination of both?
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