Dumb people making a lot of money

May 20, For how else can we explain the success of those we don’t like. It olt a reality—a harsh reality—that in today’s business world there are a lot of idiots making a lot of money. This can be frustrating for small-business owners to witness—why should someone who is less dedicated, not as smart and not as passionate about what they do, make more money? Here are four reasons why people not as smart as you are making more money than you, and what you can do about it. Financial success is not always the result of hard work and skill alone; sometimes it’s simply inherited. Smart Action : Don’t begrudge someone else’s good og. After all, you do need investors, don’t you? It has been said that good looks play amking large role in financial success. Smart Action: You might not have any control over your genes, but you do have control over how you project peopke image to. Stand up tall, speak clearly and confidently, and show the world a self-assured you.

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And it cost him his beach lifestyle, forcing him to teach part time. Schlesinger is a certified financial planner, syndicated columnist and appears on CBS radio and television. She reminds readers about issues that can dramatically change lives and does this by injecting her personality and experience into the anecdotes. The book club reads a personal finance book together every month and discusses it in the Money Masters group on Facebook. You can also follow along on Instagram for more announcements and group discussion. Really smart people can make big financial mistakes. Schlesinger brings attention to these errors that her clients and listeners have actually made although the names are changed for privacy reasons, the stories are real. This style does a good job in keeping the reader engaged. Many of those that read this book should find something they can change to help improve their financial future.

2. Shipping Potatoes

The person he billed followed the instructions and the money went to a different account because someone intercepted the original email and sent one with different wiring information. Or it could be getting the courage to talk to your aging parents about their future care. As Schlesinger points out, realistic conversations with your children about the most cost-effective college options is also a must-have talk. This is a plus page book. But it feels like a conversation with a friend. She also has a knack for explaining subjects in an easy-to-understand way. Schlesinger emphasizes the importance of picking an affordable college and not having your child graduate with a lot of debt. She brings up an interesting point that many smart and successful parents already have a great network. So going to a school just to access an elite network might not be a cost-effective move. Unless it is at one of the absolute top schools. She illustrates this by using the common airline announcement to secure your oxygen mask before helping others in an emergency.

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Join the conversation! Schlesinger, a business analyst at CBS News, lists 13 dumb moves and ways to right these financial wrongs. I review annuities, hedge funds, private REITs, alternative investments and the like. The more complex the investment, the worse it typically is. Simple products are typically superior. Stick to simple investing.

Taking out a ton of student loans to go to school

We’ve all made mistakes with our money. While some are knowingly reckless — say, an expensive night at the casino or going into debt to buy a fancy car you can’t quite afford — others are less obvious. For instance, not getting a credit card because you’re scared of overspending and ending up in debt sounds like a responsible move — until you want to buy a car or a house and have no credit to back you up. There may come a time when you consider cashing out part of your k for a short-term goal that feels more pressing than retirement — like buying your dream house or paying off lingering credit card debt.

1. Mailing Snow

United States Change Country. While the majority of Bostonians spent their time complaining about the snow, a guy named Kyle Waring took that frustration and turned it into a business idea. Not feeling very confident? Here are seven weird, unbelievable ways people have made serious bucks:. If you are a teacher, you may be very successful because your students get good results. May 20, View All Business Cards. Here are four reasons why people not as smart as you are making more money than you, and what you can do about it. There are many other parts of your body — and its fluids — you can sell if you so desire. View All Payment Solutions. No More Mr. Smart Action : Don’t begrudge someone else’s good fortune. Social Media Strategy.

Why This Advice is Dumb

May 20, For how else can we explain the success of those we don’t like. It is a reality—a harsh reality—that in today’s business world there are a lot of idiots making a lot of money. This can be frustrating for small-business owners to witness—why should someone who is less dedicated, not as smart and not as passionate about what they do, make more money?

Here are four reasons why people not as smart as you are making more money than you, and what you can do about it. Financial success is not always the result of hard work and skill alone; sometimes it’s simply inherited. Smart Action : Don’t begrudge someone else’s good fortune. After all, you do need investors, don’t you? It has been said that good looks play a large role in financial success.

Smart Action: You might not have any control over your genes, but you do have control over how you project your image to.

Stand up tall, speak clearly and confidently, and show the world a self-assured you. You’ll see how quickly and positively people respond. Not feeling very confident? Try the «fake it until you make it! It seems that men who are rude are more successful negotiators and therefore earn more financial rewards. They find a way to satisfy what is most important to both sides. People who suck up to their vendors and customers, taking them out to lavish restaurants and sending them expensive gifts, may win the business, but have trouble sustaining it.

Those expensive gifts are usually meant to mask a shortcoming in their business. Brown-nosers are also the first to tell their clients what they want to hear, even if it’s not in the client’s best. Smart Action: Anyone can buy a customer or vendor for a short period of time. But winning loyal clients and customers always comes down to offering exceptional service and products, and being the best at what you. Chance is the wild card in business success. Did Jeff Bezos get lucky to start during a time when investors were pouring billions of dollars into the Internet?

It’s there for the taking by smart, stupid and lazy people. However, hard work generates more opportunities for small-business owner to get lucky. Read more articles on how to be productive. Skip to content. Menu Menu. United States Change Country. Help Log In. Cash Back Rewards Home. Business Cards. View All Business Cards. Compare Cards.

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Find a Solution. Here’s what you can do about it. The Rich Get Richer Financial success is not always the result of hard work and skill alone; sometimes it’s simply inherited. Good Genes It has been said that good looks play a large role in financial success.

No More Mr. Brown Nosing People who suck up to their vendors and customers, taking them out to lavish restaurants and sending them expensive gifts, may win the business, but have trouble sustaining it. Plain-Old Dumb Luck Chance is the wild card in business success. Photo: iStockphoto. Want to Dig Deeper? About the Author.

Dumb things smart people do with their money

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This is a little phrase that gets thrown around in some corners of the internet, which glorifies entrepreneurship over employment as a means to wealth, freedom and happiness. I love dumb people making a lot of money a business, and I would recommend it to someone who has the right drive to make it work. But the idea that entrepreneurship is the best route to wealth and freedom is stupid. Many of the richest people I know earned all of their money working for other people. Accountants, doctors, engineers, CEOs and financiers.

Are You Ready?

All working for others, all stinking rich. Second, even if we ignore that the advice is literally false, the assumption—that entrepreneurship offers a better path to wealth than working for others—is bad economics. All career choices are pushed by supply and demand, just like any other purchasing decision. If a career choice is really attractive because it offers a lot of money, for little effort, low talent and is highly prestigious it will get a lot of new entrants. Suppose, for a second, that starting a business really did offer a lot more money for less effort and with fewer barriers to entry than working at a job. Obviously, more people would start businesses! Those businesses would compete. Some might succeed, others might fail. The end result would necessarily be that the average payoff to each new entrepreneur would shrink down until it was no longer so lucrative.