{"id":46813,"date":"2022-08-02T00:13:50","date_gmt":"2022-08-02T00:13:50","guid":{"rendered":"https:\/\/adamfayed.com\/?p=46813"},"modified":"2024-02-23T05:28:33","modified_gmt":"2024-02-23T05:28:33","slug":"would-you-rather-be-in-the-top-1-of-the-wealthy-or-top-1-of-the-intelligent","status":"publish","type":"post","link":"https:\/\/adamfayed.com\/es\/economics\/would-you-rather-be-in-the-top-1-of-the-wealthy-or-top-1-of-the-intelligent\/","title":{"rendered":"Would you rather be in the top 1% of the wealthy, or top 1% of the intelligent?"},"content":{"rendered":"<p>Escribo a menudo en Quora.com, donde soy el escritor m\u00e1s visto sobre temas financieros, con m\u00e1s de 422,4 millones de visitas en los \u00faltimos a\u00f1os.<\/p>\n\n\n\n<p><strong>En las respuestas que figuran a continuaci\u00f3n me he centrado en los siguientes temas y cuestiones<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Would you rather be in the top 1% of the wealthy, or top 1% of the intelligent?<\/li><li>What is the cheapest but most developed country to live in (2022)?<\/li><li>Why should we fear losses in investments?<\/li><\/ul>\n\n\n\n<p>Si quieres que responda a alguna pregunta en Quora o YouTube, o est\u00e1s buscando invertir, no dudes en<a href=\"https:\/\/adamfayed.com\/es\/#contact-me\">&nbsp;p\u00f3ngase en contacto conmigo<\/a>, correo electr\u00f3nico (advice@adamfayed.com) o utiliza la funci\u00f3n de WhatsApp que aparece a continuaci\u00f3n.<\/p>\n\n\n\n<p>Es posible que algunos de los enlaces y v\u00eddeos a los que se hace referencia s\u00f3lo est\u00e9n disponibles en las respuestas originales.&nbsp;<\/p>\n\n\n\n<p>Fuente de todas las respuestas: p\u00e1gina Quora de Adam Fayed.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Would you rather be in the top 1% of the wealthy, or top 1% of the intelligent?<\/h2>\n\n\n\n<p>Is intelligence the same thing as being cultured and highly-skilled?<\/p>\n\n\n\n<p>Does intelligence guarantee happiness?<\/p>\n\n\n\n<p>Does it guarantee wealth and high-income?<\/p>\n\n\n\n<p>The answer to all of those questions is no. Intelligence merely increases your odds of becoming wealthy.<\/p>\n\n\n\n<p>IQ tests are flawed, but there is a correlation between high-IQ and more wealth and income.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/qph.cf2.quoracdn.net\/main-qimg-7a3d895071bfbfb2ef27fdbdfd5ec252\" alt=\"\"><\/figure>\n\n\n\n<p>If you are already wealthy, it is very unlikely that gaining more intelligence, and starting out again, will make you wealthier, or happier.<\/p>\n\n\n\n<p>Would Bill Gates be wealthier and happier if he started out again with higher levels of intelligence?<\/p>\n\n\n\n<p>Why the \u201ceveryday millionaire\u201d in your street be wealthier, happier or get any extra benefits from the intelligence, if they started again?<\/p>\n\n\n\n<p>It is doubtful. Wealth, if used intelligently, gives you more options. Those options include the ability to read more, and therefore become more cultured, and trade some money for enhanced time if that is your wish.<\/p>\n\n\n\n<p><strong>What is more debatable is if you gave people these choices:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Being in the top 1% wealthiest people alive but be young again<\/li><li>Being in the top 1% wealthiest people but be healthy again<\/li><li>Being in the top 1% wealthiest people alive but have more free time again<\/li><li>Being in the 1% wealthiest people alive but having a higher income. This one is more common than you think. You only need about $800,000 of wealth to be inside the world\u2019s top 1%, even though that figure is much higher in most developed countries. Plenty of those people are asset rich, cash poor.<\/li><\/ul>\n\n\n\n<p>The number of wealthy people who would give up their wealth to regain youth and health would be high.<\/p>\n\n\n\n<p>Yet that is because most wealthier people are older, and plenty of older people would make the same choices, regardless of levels of wealth.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why should we fear losses in investments?<\/h2>\n\n\n\n<p>It is natural to fear a loss.<\/p>\n\n\n\n<p>A loss isn\u2019t a decline. A decline isn\u2019t a loss until you sell.<\/p>\n\n\n\n<p>A loss means you have actually sold a declining position. It is rational to fear that, unless you are doing it on purpose.<\/p>\n\n\n\n<p>People only do it on purpose if they engage in strategies like tax harvassing &#8211; deliberately taking a loss in some situations to lower taxes.<\/p>\n\n\n\n<p><strong>What we shouldn\u2019t fear is:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Tiny losses. How can you learn in investing, business or life, if you never lose or make mistakes? It is better to fail with smaller amounts of money though.<\/li><li>Losses which are inconsequential in the grand scheme of things . In business investments, as an example, it doesn\u2019t matter if many go wrong, if a small percentage more than make up for that.<\/li><li>Volatility. All of the best performing assets in the world have been quite volatile, with numerous periods of huge declines. Here Warren Buffett\u2019s business partner Charlie Munger being asked about whether he is concerned with the fact that Berkshire Hathaway\u2019s stock is down 50% when he was asked about a decade ago:<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>If it takes years to recover from the decline (paper loss). There have been many occasions when even the best investments have taken a long time to recover.<\/li><\/ul>\n\n\n\n<p>So, people should fear significant losses, but not big declines, especially whilst you are young or at least have five years before retirement.<\/p>\n\n\n\n<p>As you approach retirement, especially when you are retired, it makes sense to take many risks off the table.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What is the cheapest but most developed country to live in (2022)?<\/h2>\n\n\n\n<p>This is what some parts of LA and New York look like:<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/qph.cf2.quoracdn.net\/main-qimg-f6eb0028397c28c25b72f98ac146ab90-lq\" alt=\"\"><\/figure>\n\n\n\n<p>And this is what some areas of Bucharest can look like:<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/qph.cf2.quoracdn.net\/main-qimg-0b783a731ac2121c12c11e67e35a2e23-lq\" alt=\"\"><\/figure>\n\n\n\n<p>The GDP per capital of LA is over 80k, versus something like 15k for Bucharest.<\/p>\n\n\n\n<p>So, it depends how you define developed. If you define it in terms of great infrastructure and something that \u201cfeels\u201d developed, then probably a capital (or at least big) city in South East Asia or Eastern Europe.<\/p>\n\n\n\n<p>Somewhere like Bangkok in Thailand<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/qph.cf2.quoracdn.net\/main-qimg-248d5be963200d1e4b400094d0282cde-lq\" alt=\"\"><\/figure>\n\n\n\n<p>Or KL In Malaysia<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/qph.cf2.quoracdn.net\/main-qimg-16ae71002580f88ac3a8a8858d4ff11d-lq\" alt=\"\"><\/figure>\n\n\n\n<p>In these places, you can live what \u201cfeels like\u201d a developed life for less.<\/p>\n\n\n\n<p><strong>If you define it in terms of places with high GDP per capita, then I would say:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Taiw\u00e1n<\/li><li>A few oil rich nations, if you get a job there, like Saudi Arabia. This is due to the subsidies on oil and other things.<\/li><li>Most poorer areas of developed countries. For example, some parts of the North of England or Eastern Germany.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>\u00bfLe duele la indecisi\u00f3n financiera? \u00bfQuiere invertir con Adam?<\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"604\" src=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2022\/04\/smile-beige-jacket-4-1024x604-2.png\" alt=\"\" class=\"wp-image-41190\" srcset=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2022\/04\/smile-beige-jacket-4-1024x604-2.png 1024w, https:\/\/adamfayed.com\/wp-content\/uploads\/2022\/04\/smile-beige-jacket-4-1024x604-2-300x177.png 300w, https:\/\/adamfayed.com\/wp-content\/uploads\/2022\/04\/smile-beige-jacket-4-1024x604-2-768x453.png 768w, https:\/\/adamfayed.com\/wp-content\/uploads\/2022\/04\/smile-beige-jacket-4-1024x604-2-81x48.png 81w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/adamfayed.com\/es\/become-adams-client\/\">Convi\u00e9rtase en mi cliente<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/adamfayed.com\/es\/good-match-quiz\/\" target=\"_blank\" rel=\"noreferrer noopener\">Realice el cuestionario de elegibilidad de clientes<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/adamfayed.com\/es\/contact\/\" target=\"_blank\" rel=\"noreferrer noopener\">P\u00f3ngase en contacto con<\/a><\/div>\n<\/div>\n\n\n\n<p><strong>Adam es un autor reconocido internacionalmente en temas financieros, con m\u00e1s de 830 millones de respuestas en Quora, un libro muy vendido en Amazon y colaborador de Forbes.<\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>Would you rather be in the top 1% of the wealthy, or top 1% of the intelligent?<\/p>","protected":false},"author":1,"featured_media":46816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10166176115445471_100883565069113":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[31342],"tags":[],"class_list":["post-46813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/adamfayed.com\/es\/wp-json\/wp\/v2\/posts\/46813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/adamfayed.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/adamfayed.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/adamfayed.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/adamfayed.com\/es\/wp-json\/wp\/v2\/comments?post=46813"}],"version-history":[{"count":1,"href":"https:\/\/adamfayed.com\/es\/wp-json\/wp\/v2\/posts\/46813\/revisions"}],"predecessor-version":[{"id":80815,"href":"https:\/\/adamfayed.com\/es\/wp-json\/wp\/v2\/posts\/46813\/revisions\/80815"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/adamfayed.com\/es\/wp-json\/wp\/v2\/media\/46816"}],"wp:attachment":[{"href":"https:\/\/adamfayed.com\/es\/wp-json\/wp\/v2\/media?parent=46813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/adamfayed.com\/es\/wp-json\/wp\/v2\/categories?post=46813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/adamfayed.com\/es\/wp-json\/wp\/v2\/tags?post=46813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}