article: If you’re so smart, why aren’t you rich?

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NEW YORK (AP) - Take a look around the parking lot of a university, and chances are you’ll spot more Honda Civics than Rolls-Royces. While professors tend to be a brainy bunch, they don’t necessarily have bank accounts to match.

And they’re not the only eggheads strapped for cash. According to a new study, the highly intelligent among us aren’t necessarily wealthier.

While people with higher IQ scores tend to earn more, they don’t always save and invest their money wisely, says study author Jay Zagorsky, a research scientist at Ohio State University.

"Individuals with higher IQ should not think that they have any particular advantage," he said.

People of below-average intelligence are just about as wealthy as those in similar circumstances but with higher IQ scores, the study found.

Even among the smartest people, those with IQ scores above 125, six per cent have maxed out their credit cards and 11 per cent sometimes miss bill payments.

The study is based on data from more than 7,000 Americans who participated in the National Longitudinal Survey of Youth, funded by the U.S. Bureau of Labour Statistics and conducted through Ohio State University.

(article)

My mom's boyfriend is a professor at the local university... and he's constantly on the edge of financial disaster because of poor money management.

He probably makes what my mom and I make *combined* yet he's up to his eyebrows in debt and has trouble making ends meet.

Money management is a skill, and it must be learned.

I believe it is becuase intelligent people care more about increasing their intelligence than gaining wealth. They would rather do research and increase their intellectual understanding of the world than balance their checkbook.

Intelligence > Money

There's a lot of other variables that affect success. One of them is EQ. I doubt that anyone can have a lot of both. An advantage in one area brings a disadvantage in another. Most of the time it balances out.

I remember there was some test you could take in Forbes to see if you had what it takes to be a billionare. Having rich parents was a very important factor. There are alot people who started from middle class or less but the bulk of wealth is from being born into wealth. So for those not so lucking they need to be very lucky or have some major
driving factors beyond just being good at an IQ test.