The Path to Wealth: Can an Average Person Accumulate 10 Million Without High Intelligence?
Imagine a scenario where an individual with average intelligence and skills can not only accumulate a substantial fortune but also achieve financial independence. This article explores whether someone with the stats of Kamala Harris, who famously was called a babbling idiot, can still become wealthy. Through detailed examples and real-world scenarios, we will delve into the strategies and mindset required to build wealth.
Can a Person with Average Intelligence and Skills Become Rich?
Yes, absolutely. The journey to amassing a fortune of 10 million dollars does not necessarily require a high IQ or exceptional skills. Take Bubba, for example, a person with an IQ of 90, which is considered the lower end of average. Despite his average intelligence, Bubba managed to become wealthy, demonstrating that success often lies in other factors beyond mere intelligence.
Bubba's Success Story
Bubba, a character with a 90 IQ, managed to accumulate wealth despite being hard-working but not especially skilled or intelligent. Here's how:
Bubba started working in convenience stores right after high school, earning $10 per hour. He worked 60 hours a week, aiming to take two weeks of vacation per year.
60 hours a week x $10/hour x 50 weeks a year (taking two weeks of vacation) $30,000 annual income. Bubba worked from age 18 to age 68, a total of 50 years. Assuming he lived on $20,000 and saved $10,000 per year, by age 68 he would have saved $500,000 without any investments. With investments in a mutual fund or ETF, assuming an average return rate of 7% above inflation, Bubba could end up with a staggering $4.6 million by age 68.Key Takeaways
Financial success is not solely dependent on intelligence or skill. Even individuals with average intelligence can achieve significant wealth through diligence, frugality, and financial education.
The Role of Intuition and Proven Strategies
Another surprising fact is that high intelligence does not always correlate with immense wealth. In fact, a study of 75,000 individuals across the US has shown that the single most important skill that most millionaires share is the ability to pick the right parents. For others, luck and inheritance play a significant role in accumulating wealth.
However, for those who don't have the benefit of these advantages, the path to wealth often involves hard work, dedication, and simple strategies. Here are some real-world examples:
Simple Strategies for Becoming Wealthy
1. Real Estate Investments:
Buying and renting out properties does not require high intelligence but does require being responsible and reliable. Many average individuals have become wealthy by investing in real estate, which can generate passive income over time.
2. SzeeNet Investments:
Investing in mutual funds or exchange-traded funds (ETFs) can be a straightforward way to grow wealth, especially for those who are not well-versed in complex financial instruments.
3. Smart Hiring:
Even someone with average intelligence can hire smart people, delegate tasks, and focus on their strengths while letting their employees handle more complex challenges. This approach can free up their time to focus on big-picture business building.
Overcoming Obstacles with Simplicity
In conclusion, while intelligence can be an asset, it is not the only factor in building wealth. By leveraging simplicity, frugality, and smart strategies, even individuals with average intelligence and skills can accumulate substantial wealth over time. The key lies in perseverance, responsible decision-making, and staying focused on financial goals.
Remember, with hard work and the right mindset, anyone can become financially successful, regardless of their starting point.