Why Smart People Are Not Always Rich

Building Your Money Machine

Welcome to another compelling episode of the Building Your Money Machine Show. Have you ever wondered why some of the smartest people struggle with money while others seem to thrive financially despite having, let's just say, less intelligence? Well, this episode is for you.

In this episode, I delve into why intelligence alone doesn't guarantee wealth and unravel the time-tested principles that truly drive financial success.

We’ll also discuss the importance of daily financial habits like saving, investing, and planning, and how automating these actions can make the process easier. You'll hear about Warren Buffett’s secret to success—it's less about being a genius investor and more about habits, patience, and discipline.

IN TODAY’S EPISODE, I DISCUSS:

• The misconception that high IQ translates to wealth and why that's not true
• The importance of daily financial habits and automating savings and investments
• Real-life examples illustrating the difference between high income and wealth accumulation
• Emotional intelligence and disciplined decision-making in financial matters
• Overconfidence and analysis paralysis as barriers to wealth creation

RECOMMENDED EPISODES FOR YOU

If you liked this episode, click here to enjoy these and more: https://melabraham.com/show/

• Why The F.I.R.E Movement Is A Pipe-dream
• How To Budget And Safe Without Feeling Trapped
• How To Build And Preserve Wealth During A Recession
• Do You Have To Be RUTHLESS To Get Rich?
• Why I No Longer Use Banks (as a Millionaire)
• I'm 63. If you're in your 40s watch this...
• It's not just you. Most people won't be financially free

RECOMMENDED VIDEOS FOR YOU

If you liked this video, you'll love these ones:

• Why The F.I.R.E Movement Is A Pipe-dream: https://youtu.be/ynXhohQvMYk
• How To Budget & Save WITHOUT Feeling Trapped: https://youtu.be/979xsNd6P-4
• How To Build And Preserve Wealth During a Recession: https://youtu.be/rF6gq3ApdRc
• Do You Have To Be RUTHLESS To Get Rich?: https://youtu.be/MF19BtrrcN0
• Alarming Financial Habits That Will Surprise You: https://youtu.be/SHTg-TA27s4
• 12 Most Common Regrets of Rich People: https://youtu.be/fan5rKvRafE

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Hoofdstukken

1. Intelligence doesn't guarantee wealth; learn principles. (00:00:00)

2. Wealth is achieved through consistent financial habits. (00:04:44)

3. Balance discipline and joy when building wealth. (00:06:27)

4. Overconfidence can hinder financial decision-making wisdom. (00:11:08)

5. Wealth building relies on habits, not intelligence. (00:15:05)

6. Embark on financial journey together for legacy. (00:17:01)