51–60 of 296 posts
The assumption here is that everyone sees the accumulation of wealth as the most important goal in life. I don't think that's accurate.
A truly smart person will have a very impressive, convincing answer to this question.
Having a rich daddy is probably the largest influence in someone's chances of being rich themselves, at least in the US.
In economics this is called "social mobility" and it is measured to analyze the success of economic and social policies, whereby, generally, it is considered that having a high social mobility index is a desirable thing in a country. That's because a country with high social mobility is a country where the American dream is happening more often...
Social mobility works both ways: in a country with high social mobility, it is more likely that a child will be much poorer, or much richer than the parents.
There is a paper by the OECD analyzing by how much different factors (family wealth, education, etc.) affect wealth of children across different countries: http://www.oecd.org/centrodemexico/medios/44582910.pdf
The assumption here is that everyone sees the accumulation of wealth as the most important goal in life. I don't think that's accurate.
I see money as freedom. My ultimate goal is to save enough so that I don't have to work. Eventually, that will be the case, hopefully not on my deathbed. If the majority of the population thought that way, we'd have an economic collapse though, so forget what I said.
I'm probably decently smart, but I'm not rich at all. In fact I'm quite poor by most people's standards. I'm also really happy and work fewer hours per week than anyone I know. If there's one thing I worry about it's that I should be trying to be rich because I probably have the means to make that happen. I might be making 200k/yr if I worked full time. I might be able to start a successful company if I put my mind t…
How do you spend most of your free time?
Some examples of side recent projects if you're interested: a virtual reality strange attractor explorer, a high resolution bike speedometer/light system and a tool to record and subsequently play images from cassette tapes.
The assumption here is that everyone sees the accumulation of wealth as the most important goal in life. I don't think that's accurate.
I see money as freedom. My ultimate goal is to save enough so that I don't have to work. Eventually, that will be the case, hopefully not on my deathbed. If the majority of the population thought that way, we'd have an economic collapse though, so forget what I said.
In fact work is preferable to how I spend a lot of my free time. Would I like to work more flexible hours and get paid the same to work 30 hours instead of 37.5 a week then sure, but otherwise what would money be buying freedom from?
I suppose owning a house out-right would be freedom from worrying about security of housing, and having a large cash reserve in a few currencies would be security from political instability.
Perhaps that I only have to worry about these "big" things means I already qualify as rich from my existing income, but "not working" is definitely not a goal I align to (yet).
The assumption here is that everyone sees the accumulation of wealth as the most important goal in life. I don't think that's accurate.
this so much. I never cared about aquiring wealth, i want to be able to enjoy most of my life which is usually a different path than the one that brings in most money.
Earlier quoted context omitted.
1) You very much do in some jobs. You can't work 70 or 80 hours every week for long stretches and maintain your physical and mental well being. People really do that, and the ones that can maintain the pace for a few years make boatloads of money. A guy I knew like that was able to afford the best medical care when he had his first heart attack at 43. He may in fact live longer than the bottom 75% of income earners.…
Your point 2) is not correct, I think. The article does not really say that: it says that high IQ is one of the drivers of wealth, but it is not a sufficient condition to determine wealth, because other factors are at play in a meaningful way.
I think most of the smartest people have figured out that there are more important things in life than becoming as rich as possible.
Interesting. I'm a 1%er and I have a piece of paper that says I'm pretty smart, but: > a personality trait marked by > diligence, perseverance and > self-discipline I see myself as pretty lazy, impulsive, and slap-dash, and tend to use my brain to brute-force lazy solutions to problems. I am too lazy and don't have the concentration span to pay attention much in meetings, but can generally utter something profound ne…
I'm probably decently smart, but I'm not rich at all. In fact I'm quite poor by most people's standards. I'm also really happy and work fewer hours per week than anyone I know. If there's one thing I worry about it's that I should be trying to be rich because I probably have the means to make that happen. I might be making 200k/yr if I worked full time. I might be able to start a successful company if I put my mind t…