Any genius can get rich if he/she wants too?

[Speedlimits]

Can anyone with a very high IQ become rich if they set their mind to it or does one need to have a proclivity towards finance and good money management?

[MidGe]

[ QUOTE ]
Can anyone with a very high IQ become rich if they set their mind to it or does one need to have a proclivity towards finance and good money management?

[/ QUOTE ]

No, I think luck is probably the biggest requirement!

[Speedlimits]

[ QUOTE ]
[ QUOTE ]
Can anyone with a very high IQ become rich if they set their mind to it or does one need to have a proclivity towards finance and good money management?

[/ QUOTE ]

No, I think luck is probably the biggest requirement!

[/ QUOTE ]


Are you serious?

[MidGe]

Very!

[Jeff_B]

I concur

[KUJustin]

Can all geniuses "set their mind to it?"

Or, to put it another way, how many geniuses are too lazy to become rich?

[CaseS87]

i think people with below average IQ can also get rich if they want to, its not that hard.

[Speedlimits]

[ QUOTE ]
i think people with below average IQ can also get rich if they want to, its not that hard.

[/ QUOTE ]

Explain this please.
My definition of "rich" is netting one million dollars a year just so we are on the same page.


Getting rich isn't that easy, if it was more people would be rich.

[vhawk01]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
Can anyone with a very high IQ become rich if they set their mind to it or does one need to have a proclivity towards finance and good money management?

[/ QUOTE ]

No, I think luck is probably the biggest requirement!

[/ QUOTE ]


Are you serious?

[/ QUOTE ]

Sure would suck if they were born in sub-Saharan Africa! Or does your definition of genius preclude such?

[CityFan]

[ QUOTE ]
[ QUOTE ]
i think people with below average IQ can also get rich if they want to, its not that hard.

[/ QUOTE ]

Explain this please.
My definition of "rich" is netting one million dollars a year just so we are on the same page.


Getting rich isn't that easy, if it was more people would be rich.

[/ QUOTE ]

Well if everyone was rich, then no-one would be. It's all relative.

[FortunaMaximus]

LOL.

I assume you're talking about stable, motivated geniuses. In that case, why stop at a million?

But a million a year net isn't difficult. Time-intensive though, sometimes.

[Phil153]

To get rich, the main requirement is hard work and focus. I'm of the opinion that most skills can be learnt by 100+ IQs to an adequate level of expertise - provided there are people like Mr. Sklansky to get them started.

The lesser requirement for getting rich is a keen sense of opportunity. Coming in a distance third is intelligence. For people with the above traits, luck is barely a factor. For people without them, luck is large factor.

[moneyfaucet]

[ QUOTE ]
To get rich, the main requirement is hard work and focus. I'm of the opinion that most skills can be learnt by 100+ IQs to an adequate level of expertise - provided there are people like Mr. Sklansky to get them started.

The lesser requirement for getting rich is a keen sense of opportunity. Coming in a distance third is intelligence. For people with the above traits, luck is barely a factor. For people without them, luck is large factor.

[/ QUOTE ]

Agreed. One thing I would like to mention though is that a lot of geniuses and intellectuals are able to see beyond the money and realise there's more to life than getting rich. In my experience, the people who get all caught up in money and the rat race are people who are not enlightened.

[FortunaMaximus]

[ QUOTE ]
[ QUOTE ]
To get rich, the main requirement is hard work and focus. I'm of the opinion that most skills can be learnt by 100+ IQs to an adequate level of expertise - provided there are people like Mr. Sklansky to get them started.

The lesser requirement for getting rich is a keen sense of opportunity. Coming in a distance third is intelligence. For people with the above traits, luck is barely a factor. For people without them, luck is large factor.

[/ QUOTE ]

Agreed. One thing I would like to mention though is that a lot of geniuses and intellectuals are able to see beyond the money and realise there's more to life than getting rich. In my experience, the people who get all caught up in money and the rat race are people who are not enlightened.

[/ QUOTE ]

Quite. You're a surprise sometimes, Phil. Nice analysis.

Yes, but those same people also consider after awhile that money, after all is a lubricant for those inclined to philantropy. Make sense? Skim the cream for themselves and people they care about, the excess, well, is excess they can find better uses for than fripperies.

[Speedlimits]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
i think people with below average IQ can also get rich if they want to, its not that hard.

[/ QUOTE ]

Explain this please.
My definition of "rich" is netting one million dollars a year just so we are on the same page.


Getting rich isn't that easy, if it was more people would be rich.

[/ QUOTE ]

Well if everyone was rich, then no-one would be. It's all relative.

[/ QUOTE ]

Yeah I understand that concept. What I am saying is that the majority of people are attempting to get rich (albeit badly) but that the majority of people are failing.

[Speedlimits]

[ QUOTE ]
i think people with below average IQ can also get rich if they want to, its not that hard.

[/ QUOTE ]


Are you rich?

Didn't think so.

[vhawk01]

[ QUOTE ]
To get rich, the main requirement is hard work and focus. I'm of the opinion that most skills can be learnt by 100+ IQs to an adequate level of expertise - provided there are people like Mr. Sklansky to get them started.

The lesser requirement for getting rich is a keen sense of opportunity. Coming in a distance third is intelligence. For people with the above traits, luck is barely a factor. For people without them, luck is large factor.

[/ QUOTE ]

And how was luck not a factor in having the aforementioned traits?

[moneyfaucet]

[ QUOTE ]
i think people with below average IQ can also get rich if they want to, its not that hard.

[/ QUOTE ]

Yea you just have to sign up to Fear Factor. Or go rob a bank.

[Speedlimits]

[ QUOTE ]
[ QUOTE ]
To get rich, the main requirement is hard work and focus. I'm of the opinion that most skills can be learnt by 100+ IQs to an adequate level of expertise - provided there are people like Mr. Sklansky to get them started.

The lesser requirement for getting rich is a keen sense of opportunity. Coming in a distance third is intelligence. For people with the above traits, luck is barely a factor. For people without them, luck is large factor.

[/ QUOTE ]

And how was luck not a factor in having the aforementioned traits?

[/ QUOTE ]

Your argument is claiming genius ability, hard work and focus are a result of luck. He is claiming given you have these attributes to begin with (not dealing with the origin of these attributes) your results have very little to do with luck at all.

The question is not where this attribute came from that is a given. It is rather is this attribute (genius IQ) sufficient enough on its own to ensure financial superiority.

[vhawk01]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
To get rich, the main requirement is hard work and focus. I'm of the opinion that most skills can be learnt by 100+ IQs to an adequate level of expertise - provided there are people like Mr. Sklansky to get them started.

The lesser requirement for getting rich is a keen sense of opportunity. Coming in a distance third is intelligence. For people with the above traits, luck is barely a factor. For people without them, luck is large factor.

[/ QUOTE ]

And how was luck not a factor in having the aforementioned traits?

[/ QUOTE ]

Your argument is claiming genius ability, hard work and focus are a result of luck. He is claiming given you have these attributes to begin with (not dealing with the origin of these attributes) your results have very little to do with luck at all.

The question is not where this attribute came from that is a given. It is rather is this attribute (genius IQ) sufficient enough on its own to ensure financial superiority.

[/ QUOTE ]

Hmmm...you are probably right. But thats like saying "if your dad is the owner of a Fortune 500 company then luck plays a very small factor in your financial success." I just think its a lot to stipulate, and the obvious exception of 'what happens to the hard-working kid born starving in sub-Saharan Africa' is still valid, I think.

I do think my previous post was missing the point though.

[madnak]

[ QUOTE ]
Can anyone with a very high IQ become rich if they set their mind to it or does one need to have a proclivity towards finance and good money management?

[/ QUOTE ]

For a healthy American, definitely. Not even a question.

Of course, someone with a very high IQ might actually realize how miserable many of those people end up, and think hard about whether that's the path to take.

[MaxWeiss]

The lack of financial understanding in this thread is staggering. Wow.

[FortunaMaximus]

[ QUOTE ]
The lack of financial understanding in this thread is staggering. Wow.

[/ QUOTE ]

I'm sure most posters here can tell you about the difference between 14 and 18 billion.

[govman6767]

[ QUOTE ]
i think people with below average IQ can also get rich if they want to, its not that hard.

[/ QUOTE ]

You don't have to think... This is a proven statement.
For some of the most uneducated rich people in the world just turn on a NBA, NFL, MLB game.

[CORed]

I think Nicola Tesla qualified as a genius, at least in invention and engineering. Unfortunately for him, his genius in engineering and invention were matched only by is ineptitude in business. He was pretty rich around the turn of the century, but died broke. So, I think that one can have genius level abilities in some areas but not have the ability in finance and business to get, or stay rich.