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Would you rather be born rich or smart? watch

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    (Original post by Howard)
    You ain't whistling Dixie bro!

    PHd's are a dime a dozen. There's more unemployed (or underemployed) PHd's walking around than you can shake a stick at.

    Certainly in the US - most of them are living in their mom's basement wondering how they'll pay back the $400,000 in non-dischargeable debt (which is accruing interest at 12% a year) on their jobs that are paying $40,000 (if they're lucky)

    The PHd market is oversubscribed. The Economist famously wrote this article 5 years ago and things have gotten a lot worse since then:

    http://www.economist.com/node/17723223/

    I mean, how intelligent do you have to be to end up with a PHd, tons of non-dischargeable debt, and either no job or a job that pays peanuts? LOL! Unfortunately for many folks their foray into the world of doctoral research has proven almost as bad as having a JD from a third tier law school. Shmucks!

    I understand things might not be as bad in the UK - I'm speaking on the US (and to a lesser extent Canadian) experience - but for me, you can keep all your fancy diplomas, sheepskins, and the short-lived novelty that being a "doctor" brings with it. I'll just take the cash!
    It's a bit different in the UK where you generally get paid to do a PhD - for me it's 4 years where I can gain policy and research experience in a way that I would never be paid for otherwise - I'd have to do internships for free/peanuts to get this kind of experience (which I would be in no financial position to do) and actually an increasing number of jobs I look at are asking for a doctorate these days. It does depend on what PhD you do though. I'm a year in and so far have found the only downside is the pay isn't amazing. Outside of London I'd be rolling in cash though. You have control of your own time and work, as long as you don't faff about at the beginning you can be publishing papers pretty quickly, you can take unlimited holidays and you get loads of paid internship opportunities that you wouldn't get otherwise.

    I'm not convinced I want to follow the academic route though which is probably why I'm a bit more relaxed.
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    (Original post by Bill_Gates)
    Would you rather be born rich or super smart?

    rich couple of million
    super smart but poor based in the UK

    Bill

    What we have learnt so far:
    -Those who are poor and smart generally know it sucks and would rather be born rich
    That might be how people feel when teenagers or early 20s.

    However, as time goes on, I think a lot of people would do better being smart. Rich kids are good at losing money if they aren't smart. Poor kids who are smart tend to do better and better through life.
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    (Original post by Waghwan My Don)
    Rich, what's the point of being intelligent if you're dead poor, your aim will be to get out of your circumstances and become affluent using your brain.

    So being born with money in your pocket, just cuts out all the hard work, and allows you to be a pineapple under a palm tree.

    So I'd go with the money.
    Unless you are made for life with some gigantic trust fund (and even those get manipulated) or massive amount of property or something (and that would need management) then it is pretty implausible that you can just laze around your whole life and enjoy the same high standard of living.
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    (Original post by Awesome Genius)
    Smart. I couldn't imagine being stupid. If you were stupid you'd just spend your money on stupid things, like Android.
    Haha! This is brilliant 😂
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    (Original post by Bill_Gates)
    Would you rather be born rich or super smart?

    rich couple of million
    super smart but poor based in the UK

    Bill

    What we have learnt so far:
    -Those who are poor and smart generally know it sucks and would rather be born rich
    smart, I'm already poor and I just want to get the grades I truly deserve because I work and revise so hard but still don't get the grades I need and want
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    (Original post by Fullofsurprises)
    That might be how people feel when teenagers or early 20s.

    However, as time goes on, I think a lot of people would do better being smart. Rich kids are good at losing money if they aren't smart. Poor kids who are smart tend to do better and better through life.
    this is so statistically untrue lol rich kids actually float through life and wealth is transferred better than the poor since the poor cannot afford the services in order to assure wealth preservation. But suppose it's a nice idealistic way to look at the world
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    (Original post by Bill_Gates)
    this is so statistically untrue lol rich kids actually float through life and wealth is transferred better than the poor since the poor cannot afford the services in order to assure wealth preservation. But suppose it's a nice idealistic way to look at the world
    I think a lot of the 'float' you talk about comes from access to high quality education and opportunities. Of course the rich tend to grab more of those for their kids. I was more thinking about the difference between someone who is rich and stupid and someone poor but smart.
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    (Original post by Fullofsurprises)
    I think a lot of the 'float' you talk about comes from access to high quality education and opportunities. Of course the rich tend to grab more of those for their kids. I was more thinking about the difference between someone who is rich and stupid and someone poor but smart.
    You'll find quite a few "stupid" but rich people around. But having access to the best services makes a huge difference.
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    I would rather be rich because being poor has been the root of all my problems since being born
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    Smart, because if you're smart you'll know how to become rich and be clever enough to use your well earned money wisely.

    If you're born rich, you don't value money as much, therefore won't be smart...
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    (Original post by Gears265)
    I would rather be rich because being poor has been the root of all my problems since being born
    this made me sad
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    (Original post by SimSembi)
    Smart, because if you're smart you'll know how to become rich and be clever enough to use your well earned money wisely.

    If you're born rich, you don't value money as much, therefore won't be smart...
    Not all smart people are universally rich mind you. It's a very mixed bag.
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    (Original post by Bill_Gates)
    Not all smart people are universally rich mind you. It's a very mixed bag.
    oh yeah of course, but they all have the opportunity to become rich if they follow the right path
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    (Original post by SimSembi)
    oh yeah of course, but they all have the opportunity to become rich if they follow the right path
    questionable not quite sure what you mean by right path?
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    (Original post by Bill_Gates)
    this made me sad
    Well it's not all bad, it has made me more independent, I am willing to work for the minimum wage (I have no high standards), I will do any kind of work, I prioritise university over partying, I have no desires for luxuries like a car or house or holidays and I budget all the time.

    The downside is always being stressed and anxious about family finances, **** state school education, stressed about getting 100% in my academics all the time and stressed about getting a top class career to support family. So basically a massive stress all the time, especially when family relies on you. But I am a harder worker for it and judging by all the rich people at my university more charitable. I probably give more to charity than all the rich students in my class put together, so stingy they are.
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    Rich. I've done 'smart' and it sucks.
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    born rich, hate being broke
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    Poor and smart.


    Most people saying they're smart are it hasn't helped are probably over-estimating themselves.
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    (Original post by Bill_Gates)
    questionable not quite sure what you mean by right path?
    any path that leads them to become the best of their ability. Medicine, finance, law, science etc...
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    (Original post by SimSembi)
    any path that leads them to become the best of their ability. Medicine, finance, law, science etc...
    Doesn't mean you'll be rich, middle class yes.
 
 
 
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