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Thread: If you’re so smart, why aren’t you rich? Turns out it’s just chance...

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    If you’re so smart, why aren’t you rich? Turns out it’s just chance...


  2. #2
    Random number herder Norm's Avatar
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    Well, I hear Einstein was pretty smart. Not rich though.
    "I don't think outside the box; I think of what I can do with the box." - Henri Matisse

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    I am

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    Rich or smart?

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    Humble.

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    1 out of 1 members found this post helpful. Did you find this post helpful? Yes | No
    Quote Originally Posted by SpikeBJ View Post
    Humble.
    I give lessons in modesty and humility - at reasonable rates.

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    Mm somewhat yes. But also largely no

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    Einstein wasn't rich because he gave all his Nobel prize money to his ex wife.

    "The team shows this by ranking individuals according to the number of lucky and unlucky events they experience throughout their 40-year careers."
    Good luck empirically validating that extremely vague metric.

    If you look at IQ tests, they're many times better than parental SES for predicting future income.

    bell_curve_iq_ses_poverty.jpg

    Here's average income by IQ:
    avg_income_by_iq.jpg

    Here's average IQ by income:
    iq_by_household_income.jpg

    Here's the time series. The shift from a manufacturing economy to an information economy widened gaps between cognitive classes. Mental productivity is vastly more unequal than brute strength. 1 Isaac Newton will invent more value than 1000 Dan Quayles, but one Arnold Schwarzenegger can't manufacture more stuff than 10 old ladies.

    avg_income_by_iq_over_time.jpg

    Personality traits also affect income:
    personality_income.jpg

    It's far from random.

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    Quote Originally Posted by ferenc11 View Post
    Rich or smart?
    Both
    Humble ? No.

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    A healthy confidence. Cheers to that!

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    Senior Member Joe Mama's Avatar
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    OK, explain this then--

    When I got divorced, we split ~7 figure community property, and I had to pay substantial alimony for a decade or so. I was a dumbass for marrying her, and she was smart for marrying me. My BR is now larger now than before the marriage, and she is broke. The dumbass got money, the smart one is broke.

  13. #13


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    Quote Originally Posted by Joe Mama View Post
    OK, explain this then--

    When I got divorced, we split ~7 figure community property, and I had to pay substantial alimony for a decade or so. I was a dumbass for marrying her, and she was smart for marrying me. My BR is now larger now than before the marriage, and she is broke. The dumbass got money, the smart one is broke.
    Reconciliation?

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