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>So, consider your observation that poor people are worse and rich people better (at making decisions). Did you read the part of the comment about people going
by pathseeker 8y ago
>So, consider your observation that poor people are worse and rich people better (at making decisions).
Did you read the part of the comment about people going broke who are high-income or receive windfalls?
Poor money-management exists across all income bands and starting savings levels.
- afpx 8y agoIt’s not just about poor money management, but it’s too easy to reduce it to that. Here are a couple examples. Conventional wisdom 30 years ago said that a “good decision” was to graduate high school and get a manufacturing job. A “not so good decision” was to get a degree in computer science. There’s big a reason why ‘nerd’ back then was an offensive term. And, ‘only nerds’ went into compsci, and they didn’t even make much money (compared to, say, a business degree). But, look which decision was better after a few decades. Another example is education, in general. In 1990, everyone was saying that college was the best thing a kid could do to get into the upper middle class. Data showed that any degree would significantly increase wealth over a lifetime. But, yet, just 15 years later, that decision wasn’t so great.