Why Some Very Smart People Almost Never Make Money

If you consider yourself pretty smart, here is a news flash that might give you pause. There is no correlation between smarts and money.

In fact, smarts can get in the way of riches. Here is one of the most common ways this happens.

Challenges happen on the way to riches. They cannot be avoided by anyone who aspires to wealth.

When this happens to wealthy or soon-to-be wealthy people, they survey the situation quickly and take decisive action. Sometimes the action is right and sometimes it is wrong. Nevertheless, they take action.

If necessary, they revise their plans and take further action. And they do this as many times as is necessary to overcome the challenge and make money.

Sometimes really smart, well-educated, and really well-intended people do something else. They study the situation. They make careful plans about it. They become an expert on the situation.

And then they continue to postpone action while they study the situation even more. In some cases, this situation will morph into a self-perpetuating reason for a long-term lack of success. And it will seem perfectly plausible to this type of person.

Moreover, this person will be mystified when he or she discovers that someone else faced an even more daunting situation (or two or three), got through it, and still make lots of money.

Obviously, this type values analysis over action and has a strong need not to make a mistake. That is why this type is not likely to get rich unless and until he or she recognizes that this approach is not the way to riches.

Why? An imperfect plan that sees quick action is preferable to a perfect plan that has undergone lots of revision that no one puts into action. The reason for this is that any revision that springs from the real world of results is far preferable to a revised plan that has never seen any action at all.

In a sense, this person admires the situation. It hypnotizes this sort and almost fully occupies his or her mind. The challenging situation, rather then the ultimate objective of success and money, becomes the focus of attention.

You can easily tell this in casual conversation. This kind of person will describe the situation in detail and demonstrate a thorough understanding of the pros and cons of this or that course of action. Despite this careful analysis, they have yet to take action.

Do you see yourself in the previous paragraph? If so, all you have to do is change your focus. Mentally and emotionally dwell on the end result of success and money rather than the challenging situation at hand.

Then ask yourself, “What is the fastest, easiest, and simplest way to get there from here?” You might be surprised at how quickly your mind will answer. Then take action.

Of course, one can fall into this trap regardless of IQ. So regardless of how you did in school, remember that action, not brains, planning, or even the most careful analysis, is the reason some take big checks to the bank and other do not.