Current Events > Study: It's better to be born rich than gifted

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voldothegr8 10/13/18 11:01:27 PM #1:	https://www.washingtonpost.com/business/2018/10/09/its-better-be-born-rich-than-talented/?noredirect=on&utm_source=reddit.com&utm_term=.a1a03b431c78 A revolution in genomics is creeping into economics. It allows us to say something we might have suspected, but could never confirm: money trumps genes. Using one new, genome-based measure, economists found genetic endowments are distributed almost equally among children in low-income and high-income families. Success is not. The least-gifted children of high-income parents graduate from college at higher rates than the most-gifted children of low-income parents. First, consider the people whose genome scores in the top quarter on a genetic index the researchers associated with educational achievement. Only about 24 percent of people born to low-income fathers in that high-potential group graduate from college. Thats dwarfed by the 63 percent college graduation rate of people with similar genetic scores who are lucky enough to be born to high-income fathers. Contrast that with a finding from the other end of the genetic scoring scale: about 27 percent of those who score at the bottom quarter of the genetic index, but are born to high-income fathers, graduate from college. That means theyre at least as likely to graduate from college as the highest-scoring low-income students. The application of genetics to economics is in its infancy. Limitations abound. Most notably, researchers are forced to focus on white people. The worlds genomic data comes overwhelmingly from people of European descent, and genetic comparisons across races can produce bizarre results. But it can already begin to expose truths about the economy. The figures above come from a new, genome-based study of economic data which aims straight at the heart of the popular conception of America as a meritocracy. It goes against the narrative that there are substantial genetic differences between people who are born into wealthy households and those born into poverty, said Kevin Thom, a New York University economist and author of a related working paper released recently by the National Bureau of Economic Research. If you dont have the family resources, even the bright kids the kids who are naturally gifted are going to have to face uphill battles, Thom said. Their potential is being wasted. And thats not good for them, but thats also not good for the economy, his collaborator, Johns Hopkins economist Nicholas Papageorge said. All those people who didnt go to college who had those high genetic scores, could they have cured cancer? Thom and Papageorges analysis builds on the findings of one of the biggest genome-wide studies yet conducted. Published by a separate team of a dozen authors in Nature Genetics in July, its the latest result of a lengthy, ongoing effort to bring genetic analysis to the social sciences. --- Oda break tracker 2018- 7 (3) \| THE Ohio State: 5-0 \| Oakland Raiders: 1-3 Super Mario Maker Profile: 1237-0000-0073-02FE <cite>voldothegr8 posted [p:910487926] in Study: It&... [t:77095600]...</cite> <quote><quote>https://www.washingtonpost.com/business/2018/10/09/its-better-be-born-rich-than-talented/?noredirect=on&utm_source=reddit.com&utm_term=.a1a03b431c78 A revolution in genomics is creeping into economics. It allows us to say something we might have suspected, but could never confirm: money trumps genes. Using one new, genome-based measure, economists found genetic endowments are distributed almost equally among children in low-income and high-income families. Success is not. The least-gifted children of high-income parents graduate from college at higher rates than the most-gifted children of low-income parents. First, consider the people whose genome scores in the top quarter on a genetic index the researchers associated with educational achievement. Only about 24 percent of people born to low-income fathers in that high-potential group graduate from college. Thats dwarfed by the 63 percent college graduation rate of people with similar genetic scores who are lucky enough to be born to high-income fathers. Contrast that with a finding from the other end of the genetic scoring scale: about 27 percent of those who score at the bottom quarter of the genetic index, but are born to high-income fathers, graduate from college. That means theyre at least as likely to graduate from college as the highest-scoring low-income students. The application of genetics to economics is in its infancy. Limitations abound. Most notably, researchers are forced to focus on white people. The worlds genomic data comes overwhelmingly from people of European descent, and genetic comparisons across races can produce bizarre results. But it can already begin to expose truths about the economy. The figures above come from a new, genome-based study of economic data which aims straight at the heart of the popular conception of America as a meritocracy. It goes against the narrative that there are substantial genetic differences between people who are born into wealthy households and those born into poverty, said Kevin Thom, a New York University economist and author of a related working paper released recently by the National Bureau of Economic Research. If you dont have the family resources, even the bright kids the kids who are naturally gifted are going to have to face uphill battles, Thom said. Their potential is being wasted. And thats not good for them, but thats also not good for the economy, his collaborator, Johns Hopkins economist Nicholas Papageorge said. All those people who didnt go to college who had those high genetic scores, could they have cured cancer? Thom and Papageorges analysis builds on the findings of one of the biggest genome-wide studies yet conducted. Published by a separate team of a dozen authors in Nature Genetics in July, its the latest result of a lengthy, ongoing effort to bring genetic analysis to the social sciences.</quote></quote> ... Copied to Clipboard!
GiftedACIII 10/13/18 11:02:17 PM #2:	Rude --- </topic> <cite>GiftedACIII posted [p:910487967] in Study: It&... [t:77095600]...</cite> <quote>Rude</quote> ... Copied to Clipboard!
Garioshi 10/13/18 11:02:44 PM #3:	To the surprise of absolutely nobody whatsoever --- "I can't wait to get cancer" - Forgotten, 2018 <cite>Garioshi posted [p:910487990] in Study: It&... [t:77095600]...</cite> <quote>To the surprise of absolutely nobody whatsoever</quote> ... Copied to Clipboard!
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TheMikh 10/13/18 11:04:33 PM #7:	it's almost like the 20th century progressive advocacy of using iq tests to identify and invest in poor kids with potential might have been a good idea we threw out the baby with the bathwater since there was other advocacy that wasn't very good --- https://imgur.com/A0TAfek <cite>TheMikh posted [p:910488082] in Study: It&... [t:77095600]...</cite> <quote>it's almost like the 20th century progressive advocacy of using iq tests to identify and invest in poor kids with potential might have been a good idea we threw out the baby with the bathwater since there was other advocacy that wasn't very good</quote> ... Copied to Clipboard!
P4wn4g3 10/13/18 11:07:24 PM #8:	but what about George W who was a secret super genius, he wasn't from a rich family --- 7D ChessMaster of Dark Aether https://www.gamefaqs.com/boards/851-dark-aether <cite>P4wn4g3 posted [p:910488204] in Study: It&... [t:77095600]...</cite> <quote>but what about George W who was a secret super genius, he wasn't from a rich family</quote> ... Copied to Clipboard!
voldothegr8 10/14/18 11:28:49 AM #9:	TheMikh posted... it's almost like the 20th century progressive advocacy of using iq tests to identify and invest in poor kids with potential might have been a good idea we threw out the baby with the bathwater since there was other advocacy that wasn't very good Pretty much --- Oda break tracker 2018- 7 (3) \| THE Ohio State: 5-0 \| Oakland Raiders: 1-3 Super Mario Maker Profile: 1237-0000-0073-02FE <cite>voldothegr8 posted [p:910507982] in Study: It&... [t:77095600]...</cite> <quote><cite>TheMikh posted...</cite> <quote>it's almost like the 20th century progressive advocacy of using iq tests to identify and invest in poor kids with potential might have been a good idea we threw out the baby with the bathwater since there was other advocacy that wasn't very good</quote> Pretty much</quote> ... Copied to Clipboard!
Antifar 10/14/18 11:32:47 AM #10:	TheMikh posted... it's almost like the 20th century progressive advocacy of using iq tests to identify and invest in poor kids with potential might have been a good idea we threw out the baby with the bathwater since there was other advocacy that wasn't very good If, as the study points out, resources and wealth are more important than genetic talent, shouldn't we be working to provide resources to everybody, not just the gifted? --- kin to all that throbs <cite>Antifar posted [p:910508141] in Study: It&... [t:77095600]...</cite> <quote><cite>TheMikh posted...</cite> <quote>it's almost like the 20th century progressive advocacy of using iq tests to identify and invest in poor kids with potential might have been a good idea we threw out the baby with the bathwater since there was other advocacy that wasn't very good</quote> If, as the study points out, resources and wealth are more important than genetic talent, shouldn't we be working to provide resources to everybody, not just the gifted?</quote> ... Copied to Clipboard!
EzeDoesIt 10/14/18 11:37:18 AM #11:	P4wn4g3 posted... but what about George W who was a secret super genius, he wasn't from a rich family Lol right, isnt it true you can trace his bloodline back to the foundational financial institutions of our country? --- What the *** does MMF topic mean?* -Azalea9X <cite>EzeDoesIt posted [p:910508294] in Study: It&... [t:77095600]...</cite> <quote><cite>P4wn4g3 posted...</cite> <quote>but what about George W who was a secret super genius, he wasn't from a rich family</quote> Lol right, isnt it true you can trace his bloodline back to the foundational financial institutions of our country?</quote> ... Copied to Clipboard!
httpgrandmaster 10/14/18 11:38:55 AM #12:	This is why education on matters of personal finance should be a priority in early education. It's not hard to build wealth if you follow a few key principles: 1) Live on less than you make. 2) Don't have kids before you can afford them. 3) Marry the right spouse. An average person is more than able to hit all three of these if they are taught how and if they are taught that it is important. --- Do good. Eat communists. <cite>httpgrandmaster posted [p:910508358] in Study: It&... [t:77095600]...</cite> <quote>This is why education on matters of personal finance should be a priority in early education. It's not hard to build wealth if you follow a few key principles: 1) Live on less than you make. 2) Don't have kids before you can afford them. 3) Marry the right spouse. An average person is more than able to hit all three of these if they are taught how and if they are taught that it is important.</quote> ... Copied to Clipboard!
ThyCorndog 10/14/18 11:41:15 AM #13:	well yeah, success in life is mostly luck based. if you're born in a well developed country, you lucked out. if you're born to a rich family, you lucked out, etc. talents only come into play if your situation is good to begin with for the most part. there are people that claw their way up from the bottom and succeed, but they're the exception and not the rule --- Hey what's going on in this thread https://imgur.com/6fpKRW8 https://imgur.com/RNZi0gk <cite>ThyCorndog posted [p:910508443] in Study: It&... [t:77095600]...</cite> <quote>well yeah, success in life is mostly luck based. if you're born in a well developed country, you lucked out. if you're born to a rich family, you lucked out, etc. talents only come into play if your situation is good to begin with for the most part. there are people that claw their way up from the bottom and succeed, but they're the exception and not the rule</quote> ... Copied to Clipboard!
httpgrandmaster 10/14/18 11:48:53 AM #14:	ThyCorndog posted... well yeah, success in life is mostly luck based. if you're born in a well developed country, you lucked out. if you're born to a rich family, you lucked out, etc. talents only come into play if your situation is good to begin with for the most part. there are people that claw their way up from the bottom and succeed, but they're the exception and not the rule No it's not. The only thing based on luck is which part of the world you are born in. But for 330 million in America, everyone can get consistent results from following basic and boring personal finance rules. Keeo your nose clean, get a job, go to college or trade school for something useful, don't have kids too soon, pick the right partner. Then live on less than you make. Most people with high income have a net worth far below where it should be because they don't follow that last rule. --- Do good. Eat communists. <cite>httpgrandmaster posted [p:910508731] in Study: It&... [t:77095600]...</cite> <quote><cite>ThyCorndog posted...</cite> <quote>well yeah, success in life is mostly luck based. if you're born in a well developed country, you lucked out. if you're born to a rich family, you lucked out, etc. talents only come into play if your situation is good to begin with for the most part. there are people that claw their way up from the bottom and succeed, but they're the exception and not the rule</quote> No it's not. The only thing based on luck is which part of the world you are born in. But for 330 million in America, everyone can get consistent results from following basic and boring personal finance rules. Keeo your nose clean, get a job, go to college or trade school for something useful, don't have kids too soon, pick the right partner. Then live on less than you make. Most people with high income have a net worth far below where it should be because they don't follow that last rule.</quote> ... Copied to Clipboard!
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masterpug53 10/14/18 11:53:55 AM #16:	I didn't realize that NoShit University funded studies like this. --- Simple questions deserve long-winded answers that no one will bother to read. <cite>masterpug53 posted [p:910508892] in Study: It&... [t:77095600]...</cite> <quote>I didn't realize that NoShit University funded studies like this.</quote> ... Copied to Clipboard!
EzeDoesIt 10/14/18 11:59:09 AM #17:	httpgrandmaster posted... ThyCorndog posted... well yeah, success in life is mostly luck based. if you're born in a well developed country, you lucked out. if you're born to a rich family, you lucked out, etc. talents only come into play if your situation is good to begin with for the most part. there are people that claw their way up from the bottom and succeed, but they're the exception and not the rule No it's not. The only thing based on luck is which part of the world you are born in. But for 330 million in America, everyone can get consistent results from following basic and boring personal finance rules. Keeo your nose clean, get a job, go to college or trade school for something useful, don't have kids too soon, pick the right partner. Then live on less than you make. Most people with high income have a net worth far below where it should be because they don't follow that last rule. What if youre being paid (many are) below a livable wage? --- What the *** does MMF topic mean?* -Azalea9X <cite>EzeDoesIt posted [p:910509092] in Study: It&... [t:77095600]...</cite> <quote><cite>httpgrandmaster posted...</cite> <quote><cite>ThyCorndog posted...</cite> <quote>well yeah, success in life is mostly luck based. if you're born in a well developed country, you lucked out. if you're born to a rich family, you lucked out, etc. talents only come into play if your situation is good to begin with for the most part. there are people that claw their way up from the bottom and succeed, but they're the exception and not the rule</quote> No it's not. The only thing based on luck is which part of the world you are born in. But for 330 million in America, everyone can get consistent results from following basic and boring personal finance rules. Keeo your nose clean, get a job, go to college or trade school for something useful, don't have kids too soon, pick the right partner. Then live on less than you make. Most people with high income have a net worth far below where it should be because they don't follow that last rule.</quote> What if youre being paid (many are) below a livable wage?</quote> ... Copied to Clipboard!
httpgrandmaster 10/14/18 12:01:10 PM #18:	EzeDoesIt posted... What if youre being paid (many are) below a livable wage? From the moment you get your first job until you die or retire, you should always be seeking more income and more opportunity. By learning new skills and networking and putting yourself out there. The vast majority of people in the bottom 25% do not remain there over their working lifetime. If you fuck up it becomes considerably harder. --- Do good. Eat communists. <cite>httpgrandmaster posted [p:910509162] in Study: It&... [t:77095600]...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote>What if youre being paid (many are) below a livable wage?</quote> From the moment you get your first job until you die or retire, you should always be seeking more income and more opportunity. By learning new skills and networking and putting yourself out there. The vast majority of people in the bottom 25% do not remain there over their working lifetime. If you fuck up it becomes considerably harder.</quote> ... Copied to Clipboard!
Lost_All_Senses 10/14/18 12:02:30 PM #19:	Meh. Money is overrated. Ill take the gift. --- There will always be exceptions. <cite>Lost_All_Senses posted [p:910509204] in Study: It&... [t:77095600]...</cite> <quote>Meh. Money is overrated. Ill take the gift.</quote> ... Copied to Clipboard!
EzeDoesIt 10/14/18 12:03:17 PM #20:	httpgrandmaster posted... EzeDoesIt posted... What if youre being paid (many are) below a livable wage? From the moment you get your first job until you die or retire, you should always be seeking more income and more opportunity. By learning new skills and networking and putting yourself out there. The vast majority of people in the bottom 25% do not remain there over their working lifetime. If you fuck up it becomes considerably harder. Dang. Im one of the ones that fucked up. --- What the *** does MMF topic mean?* -Azalea9X <cite>EzeDoesIt posted [p:910509231] in Study: It&... [t:77095600]...</cite> <quote><cite>httpgrandmaster posted...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote>What if youre being paid (many are) below a livable wage?</quote> From the moment you get your first job until you die or retire, you should always be seeking more income and more opportunity. By learning new skills and networking and putting yourself out there. The vast majority of people in the bottom 25% do not remain there over their working lifetime. If you fuck up it becomes considerably harder.</quote> Dang. Im one of the ones that fucked up.</quote> ... Copied to Clipboard!
averagejoel 10/14/18 12:03:45 PM #21:	Antifar posted... TheMikh posted... it's almost like the 20th century progressive advocacy of using iq tests to identify and invest in poor kids with potential might have been a good idea we threw out the baby with the bathwater since there was other advocacy that wasn't very good If, as the study points out, resources and wealth are more important than genetic talent, shouldn't we be working to provide resources to everybody, not just the gifted? yes. --- peanut butter and dick <cite>averagejoel posted [p:910509252] in Study: It&... [t:77095600]...</cite> <quote><cite>Antifar posted...</cite> <quote><cite>TheMikh posted...</cite> <quote>it's almost like the 20th century progressive advocacy of using iq tests to identify and invest in poor kids with potential might have been a good idea we threw out the baby with the bathwater since there was other advocacy that wasn't very good</quote> If, as the study points out, resources and wealth are more important than genetic talent, shouldn't we be working to provide resources to everybody, not just the gifted?</quote> yes.</quote> ... Copied to Clipboard!
httpgrandmaster 10/14/18 12:04:23 PM #22:	EzeDoesIt posted... httpgrandmaster posted... EzeDoesIt posted... What if youre being paid (many are) below a livable wage? From the moment you get your first job until you die or retire, you should always be seeking more income and more opportunity. By learning new skills and networking and putting yourself out there. The vast majority of people in the bottom 25% do not remain there over their working lifetime. If you fuck up it becomes considerably harder. Dang. Im one of the ones that fucked up. How? It's never too late. --- Do good. Eat communists. <cite>httpgrandmaster posted [p:910509276] in Study: It&... [t:77095600]...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote><cite>httpgrandmaster posted...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote>What if youre being paid (many are) below a livable wage?</quote> From the moment you get your first job until you die or retire, you should always be seeking more income and more opportunity. By learning new skills and networking and putting yourself out there. The vast majority of people in the bottom 25% do not remain there over their working lifetime. If you fuck up it becomes considerably harder.</quote> Dang. Im one of the ones that fucked up.</quote> How? It's never too late.</quote> ... Copied to Clipboard!
averagejoel 10/14/18 12:04:34 PM #23:	EzeDoesIt posted... httpgrandmaster posted... EzeDoesIt posted... What if youre being paid (many are) below a livable wage? From the moment you get your first job until you die or retire, you should always be seeking more income and more opportunity. By learning new skills and networking and putting yourself out there. The vast majority of people in the bottom 25% do not remain there over their working lifetime. If you fuck up it becomes considerably harder. Dang. Im one of the ones that fucked up. fyi you're talking to a proudclad alt --- peanut butter and dick <cite>averagejoel posted [p:910509287] in Study: It&... [t:77095600]...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote><cite>httpgrandmaster posted...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote>What if youre being paid (many are) below a livable wage?</quote> From the moment you get your first job until you die or retire, you should always be seeking more income and more opportunity. By learning new skills and networking and putting yourself out there. The vast majority of people in the bottom 25% do not remain there over their working lifetime. If you fuck up it becomes considerably harder.</quote> Dang. Im one of the ones that fucked up.</quote> fyi you're talking to a proudclad alt</quote> ... Copied to Clipboard!
EzeDoesIt 10/14/18 12:06:31 PM #24:	httpgrandmaster posted... EzeDoesIt posted... httpgrandmaster posted... EzeDoesIt posted... What if youre being paid (many are) below a livable wage? From the moment you get your first job until you die or retire, you should always be seeking more income and more opportunity. By learning new skills and networking and putting yourself out there. The vast majority of people in the bottom 25% do not remain there over their working lifetime. If you fuck up it becomes considerably harder. Dang. Im one of the ones that fucked up. How? It's never too late. I just burned myself out and it never built anything for me, I have no assets or savings or anything and my resume/background check credentials have overall deteriorated. I just want my life to be over at this point, the holes too deep. --- What the *** does MMF topic mean?* -Azalea9X <cite>EzeDoesIt posted [p:910509355] in Study: It&... [t:77095600]...</cite> <quote><cite>httpgrandmaster posted...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote><cite>httpgrandmaster posted...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote>What if youre being paid (many are) below a livable wage?</quote> From the moment you get your first job until you die or retire, you should always be seeking more income and more opportunity. By learning new skills and networking and putting yourself out there. The vast majority of people in the bottom 25% do not remain there over their working lifetime. If you fuck up it becomes considerably harder.</quote> Dang. Im one of the ones that fucked up.</quote> How? It's never too late.</quote> I just burned myself out and it never built anything for me, I have no assets or savings or anything and my resume/background check credentials have overall deteriorated. I just want my life to be over at this point, the holes too deep.</quote> ... Copied to Clipboard!
EzeDoesIt 10/14/18 12:07:21 PM #25:	averagejoel posted... EzeDoesIt posted... httpgrandmaster posted... EzeDoesIt posted... What if youre being paid (many are) below a livable wage? From the moment you get your first job until you die or retire, you should always be seeking more income and more opportunity. By learning new skills and networking and putting yourself out there. The vast majority of people in the bottom 25% do not remain there over their working lifetime. If you fuck up it becomes considerably harder. Dang. Im one of the ones that fucked up. fyi you're talking to a proudclad alt Im not sure what to take away from this lol. The name is familiar but not the man. --- What the *** does MMF topic mean?* -Azalea9X <cite>EzeDoesIt posted [p:910509394] in Study: It&... [t:77095600]...</cite> <quote><cite>averagejoel posted...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote><cite>httpgrandmaster posted...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote>What if youre being paid (many are) below a livable wage?</quote> From the moment you get your first job until you die or retire, you should always be seeking more income and more opportunity. By learning new skills and networking and putting yourself out there. The vast majority of people in the bottom 25% do not remain there over their working lifetime. If you fuck up it becomes considerably harder.</quote> Dang. Im one of the ones that fucked up.</quote> fyi you're talking to a proudclad alt</quote> Im not sure what to take away from this lol. The name is familiar but not the man.</quote> ... Copied to Clipboard!
averagejoel 10/14/18 12:09:32 PM #26:	EzeDoesIt posted... averagejoel posted... EzeDoesIt posted... httpgrandmaster posted... EzeDoesIt posted... What if youre being paid (many are) below a livable wage? From the moment you get your first job until you die or retire, you should always be seeking more income and more opportunity. By learning new skills and networking and putting yourself out there. The vast majority of people in the bottom 25% do not remain there over their working lifetime. If you fuck up it becomes considerably harder. Dang. Im one of the ones that fucked up. fyi you're talking to a proudclad alt Im not sure what to take away from this lol. The name is familiar but not the man. he hates poor people and turns every topic into a whinefest where he rants about socialism and raves about capitalism he also wants to mine the moon and asteroids for resources to make the world more wealthy --- peanut butter and dick <cite>averagejoel posted [p:910509471] in Study: It&... [t:77095600]...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote><cite>averagejoel posted...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote><cite>httpgrandmaster posted...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote>What if youre being paid (many are) below a livable wage?</quote> From the moment you get your first job until you die or retire, you should always be seeking more income and more opportunity. By learning new skills and networking and putting yourself out there. The vast majority of people in the bottom 25% do not remain there over their working lifetime. If you fuck up it becomes considerably harder.</quote> Dang. Im one of the ones that fucked up.</quote> fyi you're talking to a proudclad alt</quote> Im not sure what to take away from this lol. The name is familiar but not the man.</quote> he hates poor people and turns every topic into a whinefest where he rants about socialism and raves about capitalism he also wants to mine the moon and asteroids for resources to make the world more wealthy</quote> ... Copied to Clipboard!
httpgrandmaster 10/14/18 12:10:04 PM #27:	EzeDoesIt posted... httpgrandmaster posted... EzeDoesIt posted... httpgrandmaster posted... EzeDoesIt posted... What if youre being paid (many are) below a livable wage? From the moment you get your first job until you die or retire, you should always be seeking more income and more opportunity. By learning new skills and networking and putting yourself out there. The vast majority of people in the bottom 25% do not remain there over their working lifetime. If you fuck up it becomes considerably harder. Dang. Im one of the ones that fucked up. How? It's never too late. I just burned myself out and it never built anything for me, I have no assets or savings or anything and my resume/background check credentials have overall deteriorated. I just want my life to be over at this point, the holes too deep. Well, it's not too late until you're dead. The dude who started KFC started it in his 60s IIRC. How.old are ya? What's your take-home pay? --- Do good. Eat communists. <cite>httpgrandmaster posted [p:910509494] in Study: It&... [t:77095600]...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote><cite>httpgrandmaster posted...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote><cite>httpgrandmaster posted...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote>What if youre being paid (many are) below a livable wage?</quote> From the moment you get your first job until you die or retire, you should always be seeking more income and more opportunity. By learning new skills and networking and putting yourself out there. The vast majority of people in the bottom 25% do not remain there over their working lifetime. If you fuck up it becomes considerably harder.</quote> Dang. Im one of the ones that fucked up.</quote> How? It's never too late.</quote> I just burned myself out and it never built anything for me, I have no assets or savings or anything and my resume/background check credentials have overall deteriorated. I just want my life to be over at this point, the holes too deep.</quote> Well, it's not too late until you're dead. The dude who started KFC started it in his 60s IIRC. How.old are ya? What's your take-home pay?</quote> ... Copied to Clipboard!
httpgrandmaster 10/14/18 12:11:51 PM #28:	I don't hate poor people. And btw this is what averagejoel thinks about murdering the children of successful people and royalty. https://imgur.com/a/VrKWouW --- Do good. Eat communists. <cite>httpgrandmaster posted [p:910509548] in Study: It&... [t:77095600]...</cite> <quote>I don't hate poor people. And btw this is what averagejoel thinks about murdering the children of successful people and royalty. https://imgur.com/a/VrKWouW</quote> ... Copied to Clipboard!
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httpgrandmaster 10/14/18 12:13:43 PM #30:	RedWhiteBlue posted... I'm surprised they didn't cover more than just education. Being from a rich family means you have 3 meals a day, health problems looked at and solved early on, friends, hobbies, opportunities, generally a good upbringing (most important catch-all). The average Joe does not have all of these, and the result is a high chance of depression, lost in life, not given the right tools to succeed, high stress, lower mental capabilities, etc. But hey apparently some people think "hur follow these 5 simple tricks to succeed!" Is something a child can do to be rich by 18 or some shit, or rich by 60 where that money is useless and your life is almost over. People, your upbringing is the most important part, and it's not in your control. Your parents and peers are the deciding factors. If you were right you'd expect more millionaires to have inherited their wealth. The opposite is true - something like 85% to 90% are self-made within a single generation, without any inheritance or college fund or etc. --- Do good. Eat communists. <cite>httpgrandmaster posted [p:910509629] in Study: It&... [t:77095600]...</cite> <quote><cite>RedWhiteBlue posted...</cite> <quote>I'm surprised they didn't cover more than just education. Being from a rich family means you have 3 meals a day, health problems looked at and solved early on, friends, hobbies, opportunities, generally a good upbringing (most important catch-all). The average Joe does not have all of these, and the result is a high chance of depression, lost in life, not given the right tools to succeed, high stress, lower mental capabilities, etc. But hey apparently some people think "hur follow these 5 simple tricks to succeed!" Is something a child can do to be rich by 18 or some shit, or rich by 60 where that money is useless and your life is almost over. People, your upbringing is the most important part, and it's not in your control. Your parents and peers are the deciding factors.</quote> If you were right you'd expect more millionaires to have inherited their wealth. The opposite is true - something like 85% to 90% are self-made within a single generation, without any inheritance or college fund or etc.</quote> ... Copied to Clipboard!
EzeDoesIt 10/14/18 12:18:41 PM #31:	httpgrandmaster posted... EzeDoesIt posted... httpgrandmaster posted... EzeDoesIt posted... httpgrandmaster posted... EzeDoesIt posted... What if youre being paid (many are) below a livable wage? From the moment you get your first job until you die or retire, you should always be seeking more income and more opportunity. By learning new skills and networking and putting yourself out there. The vast majority of people in the bottom 25% do not remain there over their working lifetime. If you fuck up it becomes considerably harder. Dang. Im one of the ones that fucked up. How? It's never too late. I just burned myself out and it never built anything for me, I have no assets or savings or anything and my resume/background check credentials have overall deteriorated. I just want my life to be over at this point, the holes too deep. Well, it's not too late until you're dead. The dude who started KFC started it in his 60s IIRC. How.old are ya? What's your take-home pay? Well hey thanks. Im 25. Most recently I was my dads home care nurse, being paid unofficially by him at about $10/hr (the Feds wouldnt pay me because he made too much money in his career), with more sometimes if I needed it. Before that I made between min. and ~$8.50 with the exception of a few summers (seasonal job) where I made ~$11. But it never seemed like anywhere near enough. Theres just so dang much that you have to pay for, you cant do anything without money. Ive almost entirely been supported by my parents (parent now) my whole life, and doing it on my own seems like a vague, impossible dream that could never happen. What sucks is I was a good, grade-A student for most of my life which theoretically could have led to a good career, but I gave up at around 17. I just found out that I have an immune condition which can cause severe mental illness, and the doctors think Ive had it for 8-10 years (so, around that time). --- What the *** does MMF topic mean?* -Azalea9X <cite>EzeDoesIt posted [p:910509807] in Study: It&... [t:77095600]...</cite> <quote><cite>httpgrandmaster posted...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote><cite>httpgrandmaster posted...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote><cite>httpgrandmaster posted...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote>What if youre being paid (many are) below a livable wage?</quote> From the moment you get your first job until you die or retire, you should always be seeking more income and more opportunity. By learning new skills and networking and putting yourself out there. The vast majority of people in the bottom 25% do not remain there over their working lifetime. If you fuck up it becomes considerably harder.</quote> Dang. Im one of the ones that fucked up.</quote> How? It's never too late.</quote> I just burned myself out and it never built anything for me, I have no assets or savings or anything and my resume/background check credentials have overall deteriorated. I just want my life to be over at this point, the holes too deep.</quote> Well, it's not too late until you're dead. The dude who started KFC started it in his 60s IIRC. How.old are ya? What's your take-home pay?</quote> Well hey thanks. Im 25. Most recently I was my dads home care nurse, being paid unofficially by him at about $10/hr (the Feds wouldnt pay me because he made too much money in his career), with more sometimes if I needed it. Before that I made between min. and ~$8.50 with the exception of a few summers (seasonal job) where I made ~$11. But it never seemed like anywhere near enough. Theres just so dang much that you have to pay for, you cant do anything without money. Ive almost entirely been supported by my parents (parent now) my whole life, and doing it on my own seems like a vague, impossible dream that could never happen. What sucks is I was a good, grade-A student for most of my life which theoretically could have led to a good career, but I gave up at around 17. I just found out that I have an immune condition which can cause severe mental illness, and the doctors think Ive had it for 8-10 years (so, around that time).</quote> ... Copied to Clipboard!
username191 10/14/18 1:16:15 PM #32:	There may be genes associated with parenting behavior that creates an environment conducive to your childs success. Children with that gene would tend to succeed in school not because that gene directly helped them study, but because they received both the gene and a success-friendly environment from their parents. About 20,000 of the surveys respondents, born between 1905 and 1964, provided their DNA along with their responses, which allowed the economists to attach genetic scores individuals academic and economic achievements. These are important quotes that wasn't in the OP. I don't think the claim that America is not a meritocracy based on this study is too well-founded, since it doesn't address the issue that higher class people could be raise their kids differently. I didn't completely understand the metrics they used for gauging achievement though, it just said academic (which more years doesn't necessarily mean more successful) and economic (more money doesn't necessarily mean more successful either). I would like to see a more thorough examination of the goal setting behavioral differences between the groups to see if there's a difference between high and low class in the goals they set. How high does a low class person aim if they've been raised in a poor household? Do high class people naturally set goals differently because their peers encourage them to do so? EDIT: Clarity. --- FFX: NSGNS, KO, YO, WO, LO, AOOSG, ROOSG, RODA, TOOSGNC, TODA *In progress <cite>username191 posted [p:910512455] in Study: It&... [t:77095600]...</cite> <quote><quote>There may be genes associated with parenting behavior that creates an environment conducive to your childs success. Children with that gene would tend to succeed in school not because that gene directly helped them study, but because they received both the gene and a success-friendly environment from their parents.</quote> <quote>About 20,000 of the surveys respondents, born between 1905 and 1964, provided their DNA along with their responses, which allowed the economists to attach genetic scores individuals academic and economic achievements.</quote> These are important quotes that wasn't in the OP. I don't think the claim that America is not a meritocracy based on this study is too well-founded, since it doesn't address the issue that higher class people could be raise their kids differently. I didn't completely understand the metrics they used for gauging achievement though, it just said academic (which more years doesn't necessarily mean more successful) and economic (more money doesn't necessarily mean more successful either). I would like to see a more thorough examination of the goal setting behavioral differences between the groups to see if there's a difference between high and low class in the goals they set. How high does a low class person aim if they've been raised in a poor household? Do high class people naturally set goals differently because their peers encourage them to do so? EDIT: Clarity.</quote> ... Copied to Clipboard!
Romes187 10/14/18 1:29:26 PM #33:	Wait how do they define success What is "better" I guess If all you care about is material shit then yeah. But you don't need to be rich to have a family and enjoy a meaningful life. I mean you can't be poor obviously but I feel like we focus too much on being millionaires because if only we could get that money we'd be happy. Doesn't seem like that's the way it works in my mind...I know plenty of people with money who definitely arent happy with their lives. So at the very least, money isn't the only thing needed I guess... <cite>Romes187 posted [p:910513139] in Study: It&... [t:77095600]...</cite> <quote>Wait how do they define success What is "better" I guess If all you care about is material shit then yeah. But you don't need to be rich to have a family and enjoy a meaningful life. I mean you can't be poor obviously but I feel like we focus too much on being millionaires because if only we could get that money we'd be happy. Doesn't seem like that's the way it works in my mind...I know plenty of people with money who definitely arent happy with their lives. So at the very least, money isn't the only thing needed I guess...</quote> ... Copied to Clipboard!
ThyCorndog 10/14/18 1:35:11 PM #35:	httpgrandmaster posted... ThyCorndog posted... well yeah, success in life is mostly luck based. if you're born in a well developed country, you lucked out. if you're born to a rich family, you lucked out, etc. talents only come into play if your situation is good to begin with for the most part. there are people that claw their way up from the bottom and succeed, but they're the exception and not the rule No it's not. The only thing based on luck is which part of the world you are born in. But for 330 million in America, everyone can get consistent results from following basic and boring personal finance rules. Keeo your nose clean, get a job, go to college or trade school for something useful, don't have kids too soon, pick the right partner. Then live on less than you make. Most people with high income have a net worth far below where it should be because they don't follow that last rule. being born in America is lucking out to begin with though. even at the lowest rungs you're still better off than most of the planet by default --- Hey what's going on in this thread https://imgur.com/6fpKRW8 https://imgur.com/RNZi0gk <cite>ThyCorndog posted [p:910513408] in Study: It&... [t:77095600]...</cite> <quote><cite>httpgrandmaster posted...</cite> <quote><cite>ThyCorndog posted...</cite> <quote>well yeah, success in life is mostly luck based. if you're born in a well developed country, you lucked out. if you're born to a rich family, you lucked out, etc. talents only come into play if your situation is good to begin with for the most part. there are people that claw their way up from the bottom and succeed, but they're the exception and not the rule</quote> No it's not. The only thing based on luck is which part of the world you are born in. But for 330 million in America, everyone can get consistent results from following basic and boring personal finance rules. Keeo your nose clean, get a job, go to college or trade school for something useful, don't have kids too soon, pick the right partner. Then live on less than you make. Most people with high income have a net worth far below where it should be because they don't follow that last rule.</quote> being born in America is lucking out to begin with though. even at the lowest rungs you're still better off than most of the planet by default</quote> ... Copied to Clipboard!
httpgrandmaster 10/14/18 1:36:25 PM #36:	ThyCorndog posted... httpgrandmaster posted... ThyCorndog posted... well yeah, success in life is mostly luck based. if you're born in a well developed country, you lucked out. if you're born to a rich family, you lucked out, etc. talents only come into play if your situation is good to begin with for the most part. there are people that claw their way up from the bottom and succeed, but they're the exception and not the rule No it's not. The only thing based on luck is which part of the world you are born in. But for 330 million in America, everyone can get consistent results from following basic and boring personal finance rules. Keeo your nose clean, get a job, go to college or trade school for something useful, don't have kids too soon, pick the right partner. Then live on less than you make. Most people with high income have a net worth far below where it should be because they don't follow that last rule. being born in America is lucking out to begin with though. even at the lowest rungs you're still better off than most of the planet by default And the conversation here is around the people who are living in western or developed countries, in which case the basic and boring principles I laid out earlier are 100% relevant and applicable. --- Do good. Eat communists. <cite>httpgrandmaster posted [p:910513472] in Study: It&... [t:77095600]...</cite> <quote><cite>ThyCorndog posted...</cite> <quote><cite>httpgrandmaster posted...</cite> <quote><cite>ThyCorndog posted...</cite> <quote>well yeah, success in life is mostly luck based. if you're born in a well developed country, you lucked out. if you're born to a rich family, you lucked out, etc. talents only come into play if your situation is good to begin with for the most part. there are people that claw their way up from the bottom and succeed, but they're the exception and not the rule</quote> No it's not. The only thing based on luck is which part of the world you are born in. But for 330 million in America, everyone can get consistent results from following basic and boring personal finance rules. Keeo your nose clean, get a job, go to college or trade school for something useful, don't have kids too soon, pick the right partner. Then live on less than you make. Most people with high income have a net worth far below where it should be because they don't follow that last rule.</quote> being born in America is lucking out to begin with though. even at the lowest rungs you're still better off than most of the planet by default</quote> And the conversation here is around the people who are living in western or developed countries, in which case the basic and boring principles I laid out earlier are 100% relevant and applicable.</quote> ... Copied to Clipboard!
httpgrandmaster 10/14/18 1:38:54 PM #37:	EzeDoesIt posted... Well hey thanks. Im 25. Most recently I was my dads home care nurse, being paid unofficially by him at about $10/hr (the Feds wouldnt pay me because he made too much money in his career), with more sometimes if I needed it. Before that I made between min. and ~$8.50 with the exception of a few summers (seasonal job) where I made ~$11. But it never seemed like anywhere near enough. Theres just so dang much that you have to pay for, you cant do anything without money. Ive almost entirely been supported by my parents (parent now) my whole life, and doing it on my own seems like a vague, impossible dream that could never happen. What sucks is I was a good, grade-A student for most of my life which theoretically could have led to a good career, but I gave up at around 17. I just found out that I have an immune condition which can cause severe mental illness, and the doctors think Ive had it for 8-10 years (so, around that time). You're young, you still have plenty of time. Have you considered going to college part-time? Or to a trade school? You can even be an apprentice and learn a trade while you're getting paid. --- Do good. Eat communists. <cite>httpgrandmaster posted [p:910513611] in Study: It&... [t:77095600]...</cite> <quote><cite>EzeDoesIt posted...</cite> <quote>Well hey thanks. Im 25. Most recently I was my dads home care nurse, being paid unofficially by him at about $10/hr (the Feds wouldnt pay me because he made too much money in his career), with more sometimes if I needed it. Before that I made between min. and ~$8.50 with the exception of a few summers (seasonal job) where I made ~$11. But it never seemed like anywhere near enough. Theres just so dang much that you have to pay for, you cant do anything without money. Ive almost entirely been supported by my parents (parent now) my whole life, and doing it on my own seems like a vague, impossible dream that could never happen. What sucks is I was a good, grade-A student for most of my life which theoretically could have led to a good career, but I gave up at around 17. I just found out that I have an immune condition which can cause severe mental illness, and the doctors think Ive had it for 8-10 years (so, around that time).</quote> You're young, you still have plenty of time. Have you considered going to college part-time? Or to a trade school? You can even be an apprentice and learn a trade while you're getting paid.</quote> ... Copied to Clipboard!
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Mareen 10/14/18 1:41:19 PM #39:	tote_all posted... Garioshi posted... To the surprise of absolutely nobody whatsoever <cite>Mareen posted [p:910513746] in Study: It&... [t:77095600]...</cite> <quote><cite>tote_all posted...</cite> <quote><cite>Garioshi posted...</cite> <quote>To the surprise of absolutely nobody whatsoever</quote></quote></quote> ... Copied to Clipboard!
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Current Events > Study: It's better to be born rich than gifted (+) Yeah! (+)

Current Events > Study: It's better to be born rich than gifted