News for hackers. Stuff that matters.

A comment on IQ rates are dropping in many developed countries. Parent comment

Re:IQ rates are dropping in many developed countries by icedchai on Wednesday May 22, 2019 @03:11PM (#19984448)
An idiot with capital will, relatively quickly, lose all of his capital through wasteful spending. You see this all the time with lottery jackpot winners, those who receive a large inheritance, etc.
[ Parent | on HN ]
Re:IQ rates are dropping in many developed countries by savethefuture on Wednesday May 22, 2019 @06:11PM (#19986107)
Then he will become an idiot, without capital, whats your point?
[ Parent | on HN ]
Re:IQ rates are dropping in many developed countries by icedchai on Wednesday May 22, 2019 @06:43PM (#19986371)
The point is one might luck into getting rich. Staying rich requires some intelligence, or you're going to make poor decisions. This is even true of dynastic wealth.

One example: https://www.independent.co.uk/news/obituaries/huntington-har...

[ Parent | on HN ]
Re:IQ rates are dropping in many developed countries by watwut on Wednesday May 22, 2019 @05:23PM (#19985676)
No. You can be extremely frugal while stupid as hell.
[ Parent | on HN ]
Re:IQ rates are dropping in many developed countries by jondubois on Wednesday May 22, 2019 @03:21PM (#19984532)
Not so. The reality is that his family banker will invest the money in an index fund like S&P500 for him and then he will see it compound a predictable 10% or so every year, becoming increasingly wealthy without ever having to lift a finger or exercise a single neuron.
[ Parent | on HN ]
Re:IQ rates are dropping in many developed countries by icedchai on Wednesday May 22, 2019 @03:35PM (#19984670)
More likely the banker will invest it in low performing actively managed mutual funds and slowly drain 1-2% in additional "management fees" out of him...
[ Parent | on HN ]
Re:IQ rates are dropping in many developed countries by ksenzee on Wednesday May 22, 2019 @04:54PM (#19985380)
If you're getting a predictable 10% from your investments, you're investing in a different SPY than I am.
[ Parent | on HN ]