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Do Smarter People Make More Income?

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  • #31
    Originally posted by prosper View Post
    When I think of a high income, I think of a computer programmer at a major software company. When I think of wealth, I think of the owner of the company that the programmer works at.
    I don't necessarily disagree with that, but it also isn't that simple.

    Wealth is not only how much you earn but also what you do with it. You could earn a ton of money and blow it on luxury cars, high end vacations, fine dining, etc., and have little to nothing to show for it. Or you can earn a less impressive income but live frugally and invest wisely and amass a nice fortune.

    The study showed no relationship between IQ and wealth. I remember reading a story in Money magazine years ago about a women who died and her family was shocked to learn that she left an estate valued at over $3 million. The woman was very simple and unassuming and worked a mundane job. I seem to recall she was a librarian. But she lived frugally and started investing early on and did very well for herself.

    Wealth isn't all about income, which speaks to why there's no correlation between IQ and wealth but there is between IQ and income.
    Steve

    * Despite the high cost of living, it remains very popular.
    * Why should I pay for my daughter's education when she already knows everything?
    * There are no shortcuts to anywhere worth going.

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    • #32
      Years ago I posted here a newsstory about a university janitor who willed millions of dollars to the school. I hoped to repost it in light of the librarian story. When I googled "janitor leaves money to university," I turned up several different stories of wealthy janitors leaving money to universities. Be kind to janitors.

      Uh, come to think of it, my son who is a physicist once worked as a janitor. He's smart; he's smart with his money, too. Yeah-- just still not highly paid, as he works on a fellowship. Someday soon I expect he will earn a very good income.
      "There is some ontological doubt as to whether it may even be possible in principle to nail down these things in the universe we're given to study." --text msg from my kid

      "It is easier to build strong children than to repair broken men." --Frederick Douglass

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      • #33
        Smart people don’t work.They make others work for them.

        ever wondered how these companies make millions in profit while you end up with just 30k per month?

        Yes they make you work,They outsource it .Thats what a good businessman does to make money while he enjoys his life and let others work for him

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