Great Read.. Got School Degrees?? Smarty Alec...
[:D][:D] I love it. No college education for me either.
Intelligence not linked to wealth, according to US study Wed Apr 25, 8:15 AM ET
WASHINGTON (AFP) - Intelligence has nothing to do with wealth, according to a US study published Tuesday which found that people with below average smarts were just as wealthy as those with higher IQ scores.
"People don't become rich because they are smart," said Jay Zagorsky, research scientist at Ohio State University whose study appears in the Journal Intelligence.
The US Bureau of Labor Statistics survey included 7,403 Americans who have been interviewed repeatedly since 1979. Based on 2004 answers, people who are now in their mid-40s showed no link between brain- and earning-power.
"Your IQ has really no relationship to your wealth. And being very smart does not protect you from getting into financial difficulty," Zagorsky said.
The study confirmed previous research which has shown that smarter people tend to earn more money, but pointed out there is a difference between high pay and overall wealth.
"The average income difference between a person with an IQ score in the normal range (100) and someone in the top two percent of society (130) is currently between 6,000 and 18,500 dollars per year," it said.
"But when it came to total wealth and the likelihood of financial difficulties, people of below average and average intelligence did just fine when compared to the super-intelligent."
An irregular pattern of total wealth as well as financial distress levels -- such as maxed out credit cards, bankruptcy and missing bill payments -- emerged among the various degrees of intelligence, the study said.
The study measured intelligence based on scores from the US Armed Services Qualification test, a general aptitude test used by the Department of Defense.
Intelligence not linked to wealth, according to US study Wed Apr 25, 8:15 AM ET
WASHINGTON (AFP) - Intelligence has nothing to do with wealth, according to a US study published Tuesday which found that people with below average smarts were just as wealthy as those with higher IQ scores.
"People don't become rich because they are smart," said Jay Zagorsky, research scientist at Ohio State University whose study appears in the Journal Intelligence.
The US Bureau of Labor Statistics survey included 7,403 Americans who have been interviewed repeatedly since 1979. Based on 2004 answers, people who are now in their mid-40s showed no link between brain- and earning-power.
"Your IQ has really no relationship to your wealth. And being very smart does not protect you from getting into financial difficulty," Zagorsky said.
The study confirmed previous research which has shown that smarter people tend to earn more money, but pointed out there is a difference between high pay and overall wealth.
"The average income difference between a person with an IQ score in the normal range (100) and someone in the top two percent of society (130) is currently between 6,000 and 18,500 dollars per year," it said.
"But when it came to total wealth and the likelihood of financial difficulties, people of below average and average intelligence did just fine when compared to the super-intelligent."
An irregular pattern of total wealth as well as financial distress levels -- such as maxed out credit cards, bankruptcy and missing bill payments -- emerged among the various degrees of intelligence, the study said.
The study measured intelligence based on scores from the US Armed Services Qualification test, a general aptitude test used by the Department of Defense.
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People become rich because they work hard and it should not have taken a study to determine that little fact. 0 -
quote:Originally posted by kristov
People become rich because they work hard and it should not have taken a study to determine that little fact.
I think people become rich who are adept at seeing good opportunities and who manage their money well.
Neither of those describes me.
I have a friend who defined a syndrome she called: high functioning dis-order. That disorder describes the incredibly intelligent person who can't keep his or her life in order. This person may have the money to make the bills but still pays them late. This person may be qualified to take a well-paying job but goes back to school on a whim......you get the picture.
I'm not surprised that wealth and intelligence are not correlated.0 -
My first wife fit that bill perfectly; She was a brilliant woman, earning her PhD in chemical engineering the day before her 26th birthday, but she was completely helpless as far as managing money was concerned and like a drug addict she dragged me, a foolish young man infatuated with her brains and beauty, into that same downward spiral which left us broke and divorced. The current Mrs K is also brilliant and holds a PhD but I was older and wiser when we married so I took firm control of the Kristov family finances and this kept things well under control. Managing money is a trait that people either have or do not have and it is pretty clear early in life who can handle money and who cannot. 0 -
select-fire
I can tell you that there are direct correlations to unemployment rates and level of formal education, as well as average income. The only thing your article states is that although some people are more "intelligent" it does not automatically mean they are more responsible. I guess I'm not sure what it is about that, you "love".0 -
quote:Originally posted by Dave W.
select-fire
I can tell you that there are direct correlations to unemployment rates and level of formal education, as well as average income. The only thing your article states is that although some people are more "intelligent" it does not automatically mean they are more responsible. I guess I'm not sure what it is about that, you "love".
I tell you what I " love".. the fact that all them degrees on the wall doesn't mean the person has " common sense " to manage money, make everyday life decisions.. Society has required " degrees" and bookworms who know all about reading and what the book says of how to do it. Most have no idea how to mechanically do anything with their hands.[:D]0 -
The statement of no college education for you does not make much sense. It says:"The average income difference between a person with an IQ score in the normal range (100) and someone in the top two percent of society (130) is currently between 6,000 and 18,500 dollars per year."
Income difference do not come from IQ differences itself, it comes from education differences mainly. I know a whole lot more people with college degrees that make over $100K a year than I do people with only high school diplomas that make over $100K a year. My wife and I both have college degrees and combined we are WAY over $200K a year.
People with only high school diplomas can do it, such as self-employed people, but it is a lot harder. And basing the study on the military's ASVAB test is questionable at best. I took it when I was 17 and scored a 99% on it. It is very easy, unless they changed it, which I doubt.0 -
quote:Originally posted by PC800
The statement of no college education for you does not make much sense. It says:"The average income difference between a person with an IQ score in the normal range (100) and someone in the top two percent of society (130) is currently between 6,000 and 18,500 dollars per year."
Income difference do not come from IQ differences itself, it comes from education differences mainly. I know a whole lot more people with college degrees that make over $100K a year than I do people with only high school diplomas that make over $100K a year. My wife and I both have college degrees and combined we are WAY over $200K a year.
People with only high school diplomas can do it, such as self-employed people, but it is a lot harder. And basing the study on the military's ASVAB test is questionable at best. I took it when I was 17 and scored a 99% on it. It is very easy, unless they changed it, which I doubt.
You're right, but the original post was pretty clear to point out that they weren't comparing income to intelligence (or schooling). They were comparing WEALTH to intelligence.
The appropriate comparison is net worth to whatever your measure of intelligence is.0 -
quote:Originally posted by spurgemastur
quote:Originally posted by PC800
The statement of no college education for you does not make much sense. It says:"The average income difference between a person with an IQ score in the normal range (100) and someone in the top two percent of society (130) is currently between 6,000 and 18,500 dollars per year."
Income difference do not come from IQ differences itself, it comes from education differences mainly. I know a whole lot more people with college degrees that make over $100K a year than I do people with only high school diplomas that make over $100K a year. My wife and I both have college degrees and combined we are WAY over $200K a year.
People with only high school diplomas can do it, such as self-employed people, but it is a lot harder. And basing the study on the military's ASVAB test is questionable at best. I took it when I was 17 and scored a 99% on it. It is very easy, unless they changed it, which I doubt.
You're right, but the original post was pretty clear to point out that they weren't comparing income to intelligence (or schooling). They were comparing WEALTH to intelligence.
The appropriate comparison is net worth to whatever your measure of intelligence is.
And the average person builds wealth through the income they make throughout their lifetimes. And that income is generally more, with more education. Investing 10% of $100K a year made with a college education will get you much more wealth than investing 10% of $30K a year made with a high school education.0 -
I gots bofe. 0
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