Where have the dumbest/laziest people made the most money?

[tombgrt]

 

 

Stocks.

 

 

Was just going to say...

[Cevian]

When one does an informal poll of their acquaintances and family members, most of the now 55+ year olds seem to have made their money in real estate, without them even knowing why or trying hard. In addition, for these people, real estate, mainly their primary residence still comprises a very high portion of their net worth.

 

I fear this will not quite work out the same for the next generation seeing as how high their entry point is going to be when purchasing a home.

[Hielko]

There was HUGE story on WJR today where there was a study/report put out that Michigan teachers make so little money that they have to work SECOND jobs to make ends meet.

 

To the credit of the journalists at WJR, they investigated the people who wrote/participated in this report.  Turns out 3 out of 4 of the teachers were making OVER $100k a year.

Just because the second thing is true, doesn't make the first thing untrue.

[Deepdive]

I think a lot of government employees in wealthy coastal areas do very well.  There are neighborhoods where teachers can make over $100k a year with no chance of getting fired.

 

Real Estate agents can get rich with being dumb, not sure about the lazy part though.  They tend to hustle. 

 

Cops and Policeman in coastal areas do well.  Risk your life for 20 years, work crazy OT toward the end of your career and get a nice pension and retire to a favorable tax state.  Most of the cops and fireman that I know aren't the sharpest tool in the shed.

 

Gym teachers!!!!!!

 

Keep in mind a lot of these folks have access to very cheap financing via 30 year mortgages etc through their teachers, policeman etc credit unions.

 

Bartenders, Strippers, waiters and waitresses, supermodels, the Kardashians, Reality TV Stars

 

Real Estate investors

 

 

[SharperDingaan]

'Education' to most people means 'school teacher'.

Shouldn't pay an elementary teacher much, and shouldn't pay an 'inner city' educator much - because they clearly don't deliver results.

And 'they' shouldn't rank socially higher than I do!

 

Nothing prevents anyone from becoming a 'teacher' later in life - the perks/benefits are available to all.

Most people would also castigate if said 'teacher' - did NOT take advantage of the opportunities offered.

So it is really - 'they' get this to do this, & I do not. Unfair!

 

We all made choices - good and bad. We all chose to be either hare, or tortoise.

Industry paid more than teaching, so we went to industry, made our fortunes, & retired early. Lot of money over a shorter time frame.

Teaching paid less, but for a lot longer. Same total comp but spread over a longer period, and better quality of life.

It is only the hares who retire & then become 'teachers' that coin it - the rest of us not so much!

Unfair!

 

Ultimately we are all moving down-river together, and our 'relative positions' are pretty meaningless.

Obviously if one swimmer chooses to 'crawl' versus 'dog-paddle', he/she will pull 'ahead'.

Good on them.

 

SD

 

 

 

 

 

 

[gfp]

Man, I'm surprised you guys think Bartenders, Waiters and Strippers are taking an easy path to riches.  I don't know anyone in those careers that has skated to easy street

 

I think a lot of government employees in wealthy coastal areas do very well.  There are neighborhoods where teachers can make over $100k a year with no chance of getting fired.

 

Real Estate agents can get rich with being dumb, not sure about the lazy part though.  They tend to hustle. 

 

Cops and Policeman in coastal areas do well.  Risk your life for 20 years, work crazy OT toward the end of your career and get a nice pension and retire to a favorable tax state.  Most of the cops and fireman that I know aren't the sharpest tool in the shed.

 

Gym teachers!!!!!!

 

Keep in mind a lot of these folks have access to very cheap financing via 30 year mortgages etc through their teachers, policeman etc credit unions.

 

Bartenders, Strippers, waiters and waitresses, supermodels, the Kardashians, Reality TV Stars

 

Real Estate investors

[Guest MarkS]

I have two:

 

1) Class action lawyers.  Several times I've found myself the beneficiary of an award of less than $1.00 while the lawyers collected millions in fees.

 

2) TV political commentators on both sides of the aisle. 

 

Actually I doubt they are dumb or lazy.  I just think they contribute little relative to what they earn.

[Jurgis]

So many prejudices and biases in a single thread...  ::)

[nkp007]

Likely the worst thread on this site.

[merkhet]

Likely the worst thread on this site.

 

Have you wandered into the politics category yet?  :o

[Sharad]

Borrow money from the Fed Discount Window, and lend it out to unsuspecting people at a higher interest rate. When things fail to work, ask the government for a bailout.

 

:P

 

[Deepdive]

Man, I'm surprised you guys think Bartenders, Waiters and Strippers are taking an easy path to riches.  I don't know anyone in those careers that has skated to easy street

 

I think a lot of government employees in wealthy coastal areas do very well.  There are neighborhoods where teachers can make over $100k a year with no chance of getting fired.

 

Real Estate agents can get rich with being dumb, not sure about the lazy part though.  They tend to hustle. 

 

Cops and Policeman in coastal areas do well.  Risk your life for 20 years, work crazy OT toward the end of your career and get a nice pension and retire to a favorable tax state.  Most of the cops and fireman that I know aren't the sharpest tool in the shed.

 

Gym teachers!!!!!!

 

Keep in mind a lot of these folks have access to very cheap financing via 30 year mortgages etc through their teachers, policeman etc credit unions.

 

Bartenders, Strippers, waiters and waitresses, supermodels, the Kardashians, Reality TV Stars

 

Real Estate investors

 

These are NYC stats - At 20% of your meal, NYC waiters and waitresses can easily make $300-500 a night given that per person cost can easily be over $50 and are often over $100.  It's not hard for bartender to walk home with $500 to $1,000 on the weekends at a busy NYC bar.  These jobs do not require college degrees.  They also do not claim much on their tax returns.  This goes for drinks girls in Vegas etc.  The venue that you work at is important.  Serving eggs and hash brown at Denny's in Ohio is a total dead end job.  In some of the higher end restaurants in NYC, your waiter likely makes many multiple of the average US college graduate. 

[Deepdive]

So many prejudices and biases in a single thread...  ::)

 

This is the basis of my prejudice

 

https://abcnews.go.com/US/court-oks-barring-high-iqs-cops/story?id=95836

 

Jordan, a 49-year-old college graduate, took the exam in 1996 and scored 33 points, the equivalent of an IQ of 125. But New London police interviewed only candidates who scored 20 to 27, on the theory that those who scored too high could get bored with police work and leave soon after undergoing costly training.

 

Most Cops Just Above Normal The average score nationally for police officers is 21 to 22, the equivalent of an IQ of 104, or just a little above average.

[Deepdive]

Man, I'm surprised you guys think Bartenders, Waiters and Strippers are taking an easy path to riches.  I don't know anyone in those careers that has skated to easy street

 

I think a lot of government employees in wealthy coastal areas do very well.  There are neighborhoods where teachers can make over $100k a year with no chance of getting fired.

 

Real Estate agents can get rich with being dumb, not sure about the lazy part though.  They tend to hustle. 

 

Cops and Policeman in coastal areas do well.  Risk your life for 20 years, work crazy OT toward the end of your career and get a nice pension and retire to a favorable tax state.  Most of the cops and fireman that I know aren't the sharpest tool in the shed.

 

Gym teachers!!!!!!

 

Keep in mind a lot of these folks have access to very cheap financing via 30 year mortgages etc through their teachers, policeman etc credit unions.

 

Bartenders, Strippers, waiters and waitresses, supermodels, the Kardashians, Reality TV Stars

 

Real Estate investors

 

These are NYC stats - At 20% of your meal, NYC waiters and waitresses can easily make $300-500 a night given that per person cost can easily be over $50 and are often over $100.  It's not hard for bartender to walk home with $500 to $1,000 on the weekends at a busy NYC bar.  These jobs do not require college degrees.  They also do not claim much on their tax returns.  This goes for drinks girls in Vegas etc.  The venue that you work at is important.  Serving eggs and hash brown at Denny's in Ohio is a total dead end job.  In some of the higher end restaurants in NYC, your waiter likely makes many multiple of the average US college graduate.

 

Smith and Wollensky, where Buffet takes the winning bidders to lunch, hires union wait staff.  Many high end steakhouse in NYC do this.  The average check per person is probably $75-100 at such establishments.  They waiters tend to be older men who are a bit "disgruntled" and "annoyed"  but they mostly make $100+k a year.  People would kill for that kind of job.   

 

Reviews on TripAdvisor for Peter Luger

Very good food- be prepared to put up with the wait staff attitudes - because you will need to if you visit

Ok food. Rude waiters

 

http://www.businessinsider.com/how-to-make-100000-as-a-waiter-in-nyc-2016-6

http://laborpress.org/inside-the-sparks-steakhouse-drama/

 

 

[Deepdive]

This is an opinion piece in the NY Post.  But it contains stats that are consistent with what I have heard. 

 

https://nypost.com/2011/12/01/municipal-millionaires/

 

 

[Spekulatius]

I think a lot of government employees in wealthy coastal areas do very well.  There are neighborhoods where teachers can make over $100k a year with no chance of getting fired.

 

Real Estate agents can get rich with being dumb, not sure about the lazy part though.  They tend to hustle. 

 

Cops and Policeman in coastal areas do well.  Risk your life for 20 years, work crazy OT toward the end of your career and get a nice pension and retire to a favorable tax state.  Most of the cops and fireman that I know aren't the sharpest tool in the shed.

 

Gym teachers!!!!!!

 

Keep in mind a lot of these folks have access to very cheap financing via 30 year mortgages etc through their teachers, policeman etc credit unions.

 

Bartenders, Strippers, waiters and waitresses, supermodels, the Kardashians, Reality TV Stars

 

Real Estate investors

 

You can join the teachers CU as well. There are back doors ( very low foot hurdles, join an affiliate nonprofit for a small one time fee etc.)  for just about any CU.

[augustabound]

This is the basis of my prejudice

https://abcnews.go.com/US/court-oks-barring-high-iqs-cops/story?id=95836

 

Most Cops Just Above Normal The average score nationally for police officers is 21 to 22, the equivalent of an IQ of 104, or just a little above average.

 

Upthread you said this,

Most of the cops and fireman that I know aren't the sharpest tool in the shed.

 

So which is it, are they not the sharpest tools in the shed or are they just above average?

 

 

[Deepdive]

I think a lot of government employees in wealthy coastal areas do very well.  There are neighborhoods where teachers can make over $100k a year with no chance of getting fired.

 

Real Estate agents can get rich with being dumb, not sure about the lazy part though.  They tend to hustle. 

 

Cops and Policeman in coastal areas do well.  Risk your life for 20 years, work crazy OT toward the end of your career and get a nice pension and retire to a favorable tax state.  Most of the cops and fireman that I know aren't the sharpest tool in the shed.

 

Gym teachers!!!!!!

 

Keep in mind a lot of these folks have access to very cheap financing via 30 year mortgages etc through their teachers, policeman etc credit unions.

 

Bartenders, Strippers, waiters and waitresses, supermodels, the Kardashians, Reality TV Stars

 

Real Estate investors

 

You can join the teachers CU as well. There are back donors ( very low foot hurdles, join an affiliate nonprofit for a small one time fee etc.)  for just about any CU.

 

It is more of the fact that banks and CU will gladly give a mortgage to a teacher given the steady paycheck and how hard it is to fire teachers

[Deepdive]

This is the basis of my prejudice

https://abcnews.go.com/US/court-oks-barring-high-iqs-cops/story?id=95836

 

Most Cops Just Above Normal The average score nationally for police officers is 21 to 22, the equivalent of an IQ of 104, or just a little above average.

 

Upthread you said this,

Most of the cops and fireman that I know aren't the sharpest tool in the shed.

 

So which is it, are they not the sharpest tools in the shed or are they just above normal?

 

For people who can retire after 20 years of work and receive a pension worth $2 million of NPV while making over $100k a year with a 104 IQ, the pay to IQ ratio is rather high which is the focus of this thread.  If you really want to get into the semantics, then I guess you're right that I might've contradicted myself.     

[Deepdive]

I think a lot of government employees in wealthy coastal areas do very well.  There are neighborhoods where teachers can make over $100k a year with no chance of getting fired.

 

Real Estate agents can get rich with being dumb, not sure about the lazy part though.  They tend to hustle. 

 

Cops and Policeman in coastal areas do well.  Risk your life for 20 years, work crazy OT toward the end of your career and get a nice pension and retire to a favorable tax state.  Most of the cops and fireman that I know aren't the sharpest tool in the shed.

 

Gym teachers!!!!!!

 

Keep in mind a lot of these folks have access to very cheap financing via 30 year mortgages etc through their teachers, policeman etc credit unions.

 

Bartenders, Strippers, waiters and waitresses, supermodels, the Kardashians, Reality TV Stars

 

Real Estate investors

 

You can join the teachers CU as well. There are back donors ( very low foot hurdles, join an affiliate nonprofit for a small one time fee etc.)  for just about any CU.

 

It is more of the fact that banks and CU will gladly give a mortgage to a teacher given the steady paycheck and how hard it is to fire teachers

 

This is stark contrast to a business owner who tend to have more volatile income.  Banks loath to make loans to an entrepreneur to buy their homes or RE which tend to be one of the largest creator of wealth over a lifetime. 

[Spekulatius]

I think there is a misconception here that intelligent and smart is the same thing, but in fact both are only loosely related. I have seen quite a few people that probably are only of average intelligence, but are very smart on how they are running their business. I also have not even seen one business owner proper, who wasn’t smart and most weren’t lazy either.

 

Some people may not be intelligent , but they now one field very well, others network really well. Others are just very perceistent and determined. I have met people who made a lot of money just sitting on stuff. I knew one guy who bought just stocks in the 1950’s when almost no one was doing so in Germany and sat on them when I met him in the early 90’s and he has done quite well. A farmer that I knew off was buying then almost worthless meadowlands until they became real estate parcels 20-30 years later. Some of it is luck, but certainly there was some foresight either. Yosemite are smart folks, my hat is of to them.

[rb]

GE Executives!

 

Edit: Deepdive should run the pay to IQ ratio for those tool shed items. Those will be eye popping numbers. By comparison we're getting absolute bargains with cops and fire fighters.

[LC]

Teachers put up with children all day. Cops literally risk their lives every day. I think 100k/year is fine given these facts.

[Deepdive]

GE Executives!

 

Edit: Deepdive should run the pay to IQ ratio for those tool shed items. Those will be eye popping numbers. By comparison we're getting absolute bargains with cops and fire fighters.

 

I think EMTs rank the lowest in terms of pay to IQ at roughly $15 an hour

[Deepdive]

I think most high school AP subject teachers are under paid, especially those that are deeply passionate about their field and would take their students to field trips etc.  They have no TA, grade all the paper themselves, etc. 

 

I think most chefs are underpaid relative to wait staff.  People go to restaurants for the food rather than whether your waiter is attentive/attractive.  Yet the front of the house take home way more than the core engine in the back. 

 

I think high school coaches are under paid.  The $/hour is laughable.  Most coaches that I know do it because they love the sport and/or want to mentor the kids.  Their pay is basically minimum wage when you factor in film hours, preparation, administrative, etc.  I think they can really help foster teamwork and hardwork.

 

Executives are overpaid = water is wet.