Do You Have to be Smart to be Rich

Kiyosaki

 

Great article . Sent it to my kids .

I know lots of Doctors who are comfortable without being wealthy . There are doctors who work where I work who say they can't afford to buy a house in Sydney , and their partners work ....

The only person I know who has told me they were a member of Mensa , lived in a housing commission house in lethridge park .....

Cliff

 

Paradigm shift.

 

I'm not the sharpest tool in the shed, but I worked out that Michael Yardney didn't write that piece, try Tom Corley

What is the definition of smart?

There would be a correlation with higher intelligence and income, but that doesn't always mean higher wealth

Doesn't detract from the message though

I watched this the other morning: “I Was Rejected From Harvard 10 Times”, Alibaba CEO On Persistence

 

Jack Ma is one of my mentors! Well...through books and clips.. not in person unfortunately. But he is brilliant. Absofu$%enloutely brilliant. I love everything about him and have the utmost respect for him.

 

@See Change I used to see/hear this everyday. The problem I saw with the doctors was that they think they are too smart for their own good. They know best . We had a young social worker working in the same office who had 7 properties, and the doctors there just refused to believe that someone earning much less than half their salary, about half the academic study, could own so many properties doing so well and they mostly dismissed her. I strongly believe that in many cases too much academic intelligence is really an obstructive force when it comes to wanting to build massive financial wealth.

 

Love this one.

Another case of too much money and not enough sense. We see this with many young sporting stars who have never had the financial education to cope with the influx of monetary wealth and as a result their behaviour becomes that of a 2yo not getting their way.
(Don't eat it first, say Yuk and pelt it across the room for a reaction)

 

I'm not a smart man, a true shout out to the king, Forrest Gump, look at what he pulled off in 142 minutes, truly impressive!

I do however have a crap load of common sense.

My common sense has allowed me to make many smart decisions.

These smart decisions have not made me rich, but certainly wealthy in all areas of my life.

 

http://freakonomics.com/2011/09/29/...e-social-world-is-less-obvious-than-it-seems/

As sociologists are fond of pointing out, common sense isn’t anything like a scientific theory of the world. Rather it is a hodge-podge of accumulated advice, experiences, aphorisms, norms, received wisdom, inherited beliefs, and introspection that is neither coherent nor even internally self-consistent. Birds of a feather flock together, but opposites also attract. Two minds are better than one, except when too many cooks spoil the broth. Does absence make the heart grow fonder, or is out of sight out of mind? At what point does try, try again turn into flogging a dead horse? And if experience is the best teacher, when should one also maintain a beginner’s mind?

The problem with common sense is not that it isn’t sensible, but that what is sensible turns out to depend on lots of other features of the situation. And in general, it’s impossible to know which of these many potential features are relevant until after the fact (a fundamental problem that philosophers and cognitive scientists call the “frame problem”).

 

You see that response is obviously way above my head, way too much thinking involved for my liking.

I should just go with this to explain that.

1. Common sense is a basic ability to perceive, understand, and judge things, which is shared by ("common to") nearly all people, and can be reasonably expected of nearly all people without any need for debate.

 

Common-sense it great. I agree with you 100% @Investig8.

The issue I see with so many newbies and not so newbie, is that they seem to think there is no learning curve, just read a few pages here and there and your ready to have 100k passive income in no time

Common sense would dictate that you cant do well in anything consistently, that you know very little about. Its amazing how many people miss this fact.

 

I just dont think 'sense' is all that common. When I hear people talk about common sense, I often just hear 'My view is how other people should see it'

'Common sense' is a bit of a bug bear of mine as I have heard 'common sense' used to rationalise some fairly sloppy and/or unimaginative decision making.

 

Personally, I actually think its rare.

 

Fair point, I don't speak for anyone else just my perspective, be it my view within the realm or scope or understanding of my personal, limited education and intellect.

If someone says to me they have some common sense I personally would expect the following:
Common sense is a basic ability to perceive, understand, and judge things.

How many super smart people do I know who I believe have limited common sense, a few.

A cool example since we are in a property forum:
I would expect or common sense would suggest that you do due diligence before spending 250-500K+ on anything. (who knows maybe I'm the only idiot that does this, I highly doubt it)

How many intelligent, cashed up people have I come across over the years who buy crap without conducting the very basics of due diligence before said purchase?
Answer = Many.

How many complain later and blame others for said purchase when it doesn't work out?
Answer = Many.

In reference to the OP - Do You Have to be Smart to be Rich?

I would say, who cares? and No. But wait, isn't having a reasonable amount of quality common sense or some logical thought flow which can result in a favourable/successful outcome on a pending decision actually a form of intelligence and hence a form of being 'smart' and therefore the answer might be Yes.

What is Rich? if it is financial, then we need to state financially rich, if it's spiritual, intellectual, emotional or physical, then they too need to be stated.

I prefer wealthy, not rich when describing such things, once again it's only my perspective, and really who cares about that? It's subjective.

 

Yes, and then you get the likes of Judd (Carlton), recently retired, no media reporting job for him, he aligned himself with some wealthy business people and is basically set up.
He obviously had the smarts to make the most of his career/fame/money.

MTR

 

Bit like going with your gut?? sort of
I actually find this seems to work for me, does not mean DD is not part of this.

 

@MTR I agree. I think instinct is important too.

 

Someone said what is rich, monetary, according to the link -

$3.2M in liquid assets and $160,000 gross, not sure how they actually come up with these figures??

MTR

 

Geeze, $3.2M wouldn't even get you 2 decent houses in Sydney at the moment

 

What, surely Mt Druitt?? that should get at least 5/6