Believe it or not, high IQ does not translate into a lot of wealth. This is a finding from research at Ohio State University. Each additional point in IQ means $200.00 more income every year, on an average.
So why does high IQ not mean higher wealth?
Its all about habit of saving and not about income. And the good news is any one can save by using simple rules and doing so regularly. Buying what’s appropriate, living in ones means are the basic. IRA, Roth IRA, 401K, must be a part of every one’s saving scheme, if applicable. High yield bank saving accounts, low expense index mutual funds and low cost index ETF’s do not require a lot of research and are good vehicles to start ones personal research for investment.
Consistency is more important in the long run and not the brilliance of moment. Overconfidence and arrogance associated with IQ can lead one to make mistakes while being humble and learning from mistakes of ones and others and following simple rules consistently can lead to growth of investment. Growth habits keeps one ongrothtrack.
PN
please follow these kinks for the more information on this interesting research
http://researchnews.osu.edu/archive/divwlth.htm
http://biz.yahoo.com/fool/070518/117949647104.html?.v=1
Sphere: Related Content
Post a Comment