Why Smart People Make Bad Financial Moves?

[gmsgmz]

Average joes typically outperformed smart people in terms of accumulating wealth- atleast latest researches say so.

In one of these researches conducted by Jay Zagorsky, a research scientist at the Ohio State University, the relationship between IQ and wealth was examined. These are the conclusions he made:

1. Intelligence Doesn't Ensure Wealth
2. Financial Mistakes Have No IQ
3. Successful Average joes make their own rules. Many wealthy people didn't do well in school; it was too structured for them
4. Average joes get knocked down, but they get up again.
5. They succeed through social intelligence.
6. They may take more risks, and consequently reap more rewards.
7. Sometimes a really bright person develops a gigantic sense of entitlement.
8. Smart people always think they'll find "the big idea" and unfortunately frustates them in the long run.
9. Smart people tend to live beyond their means.

[Ronald Marva]

This bad news for smarter people...but on the bright side there are also bright people who have been successful and now billionaires. Though if the research is right, smarter people appear to be outnumbered.
It boils down on what is the attitude of the individual towards financial success. Average joes may be getting more financial success as they dont tend to complicate their finances too much. But that is just my two cents...

[Ryan]

avarage joes outnumber smart ones in every way...success-wise and failure-wise.

There are just really fewer smart people.

Bottomline, The range of IQ is not directly proportional to the size of the pocket, and vice versa.

[Hope]

it seems to tell us that smarter people lacks the courage to take some risks, make a gamble and even they fear of failure, which for some business managers is the source of struggle for success.

smart people vs average joes

clearly these two sets of people could be on the other edge of the line, probably they will never meet, aren't they?