Does It Pay To Be Smart?

We ran across an interesting study about what your IQ says about how rich you’ll be. The study was conducted by Jay Zagorsky, an economist at Ohio State University, and published in the journal, Intelligence.

Zagorsky measured the income and wealth of people who were 40 to 47 years old. He sorted the data by IQ level.

Does it pay to be smart? Yes … and no.

Yes, it pays to be smart.
Zagorsky’s study confirmed what previous studies had shown. People with higher IQs tend to have higher incomes. We wonder if it’s a function of IQ or if educational attainment plays in – since it’s also been proven that higher levels of education tend to result in higher incomes.

Regardless, people with above-average IQs tend to earn more.

No, it doesn’t pay to be smart.
Zagorsky found that people with lower IQs are just as wealthy, perhaps even more so, than people with high IQs! Zagorsky defines wealth as assets minus liabilities. How much you own compared to how much you owe.

Few people with below-average IQs had high income. However, a relatively large number of them had a high net worth.

It turns out that people with higher IQs were MORE likely to have trouble paying bills, have maxed out credit cards, and have declared bankruptcy, than people with lower IQs.

Why aren’t smart people rich?
Zagorsky offers several theories for why being smart doesn’t necessarily lead to being rich. It’s possible that smart people are more confident in their ability to earn more money, so they spend more money. Perhaps they feel they can take more risk, because they can make more money if they need it.

We wonder if it’s not because of the age group. People with IQs below the norm probably started working earlier, on average, than people with high IQs, who were earning advanced degrees. So people with lower IQs have had more years in the workforce. Will people with high IQs catch up with them over time?

Smart or not, we’re only human!
What this study really confirms is a timeless principle – the real secret to accumulating more wealth is to spend less than what you make. How profound!

We’re all human – some smarter than others. However, we’re all subject to that human trait that makes us spend as much as we make. Make more … spend more.

Do you remember the secret to begin accumulating wealth, as told in The Richest Man in Babylon?

A part of all you earn should be yours to keep.

If you don’t spend it, you’ll always have it. And more – because your money will make money for you if you invest it right.

For whatever reason, people with below-average IQs seem to do a better job of that than people with above-average IQs. At least according to this study.

What do you think? Why do people with lower IQs have more wealth? What tips do you have for managing money? Let us know.

Our bigg quote today is by Benjamin Franklin.

“A penny saved is a penny earned.”

It’s smart to save money, because being smart with your money is money in the bank.

Next time, we’re going to talk about your own personal SWOT analysis – analyzing strengths, weaknesses, threats, and opportunities. It’s a follow up to Visualize The Life You Want and Live Your Dream Life With Purpose.

If your goal is to save more money, learn how to achieve that goal with our Bigg Goal-Setters Workbook. It’s free when you subscribe to our free weekly newsletter. We bet you’re smart enough to recognize that for the deal it is!

Until next time, here’s to your bigg success!

Don't Shy Away From Networking

You’re probably familiar with the old quote: It’s not what you know; it’s who you know. We think it’s what you know AND who you know. But the point is still valid – it pays to know people. So meeting new people is essential to building your career.

Lyndsey Pollak, a blogger for The Huffington Post, recently wrote about this subject in her post, Why Shy People Make Great Networkers. There’s a negative connotation associated with shyness.

Yet, according to Marti Laney, in her book, The Introvert Advantage: How to Thrive in an Extrovert World, 60 percent of the people that are considered “intellectually gifted” are shy. People like Albert Einstein and Bill Gates. Pretty good company, huh?

So being shy can work to your advantage, even in networking. Here’s how:

Ask for referrals from people you know.
It’s more comfortable reaching out to someone when you have a common connection. It’s much easier because you can open with a mention of your shared friend. Plus you can develop relationships faster because you build upon the bond the two of you already have with your mutual acquaintance.

Ask more questions.
By their very nature, shy people talk less, and listen more. And they listen intently. That’s an advantage in following up. You’re able to bring up something you learned in your last conversation to launch your next one.

Most people love to talk about themselves. Shy people play into this natural tendency. That makes them more likeable. Which makes them more memorable!

Bring a friend.
If you’d feel more comfortable with someone by your side, then bring them along! You’ll be more at ease, so you’ll be more likely to reach out to strangers.

Networking experts usually advise against this, with good reason. They fear that you’ll be “wallflowers.” Resist that tendency with all your being!

Pollak suggests that you bring the most extroverted friend you know. Let him or her reach out to people. Of course, you’ll chime in once the conversation has started.

If I’m shy, you must not be …
Pollak cites studies that show that 40 to 50 percent of all people describe themselves as “shy.” Remember this the next time you want to reach out to someone.

If you’re shy, chances are they’re not. Just get the conversation started and they’ll run with it! If you’re not shy, chances are they are. They’ll welcome you initiating a conversation.

Our bigg quote today is by Rachel Naomi Remen, the educator and author.

“The most basic and powerful way to connect to another person
is to listen. Just listen. Perhaps the most important thing we ever
give each other is our attention. A loving silence often has far more
power to heal and to connect than the most well-intentioned words.”

So don’t be shy about listening … to people you know, to people you just met. Paying attention pays off!

Make it a goal this year to meet new people. Speaking of that, we’ve developed The Bigg Goal-Setting Workbook, which you can download free when you subscribe to our free weekly newsletter. Check it out today!

Next time, we’ll ask the question, “Does it pay to be smart?” We’ll talk about what your IQ says about how rich you’ll be. Until then, here’s to your bigg success!

Don’t Shy Away From Networking

You’re probably familiar with the old quote: It’s not what you know; it’s who you know. We think it’s what you know AND who you know. But the point is still valid – it pays to know people. So meeting new people is essential to building your career.

Lyndsey Pollak, a blogger for The Huffington Post, recently wrote about this subject in her post, Why Shy People Make Great Networkers. There’s a negative connotation associated with shyness.

Yet, according to Marti Laney, in her book, The Introvert Advantage: How to Thrive in an Extrovert World, 60 percent of the people that are considered “intellectually gifted” are shy. People like Albert Einstein and Bill Gates. Pretty good company, huh?

So being shy can work to your advantage, even in networking. Here’s how:

Ask for referrals from people you know.
It’s more comfortable reaching out to someone when you have a common connection. It’s much easier because you can open with a mention of your shared friend. Plus you can develop relationships faster because you build upon the bond the two of you already have with your mutual acquaintance.

Ask more questions.
By their very nature, shy people talk less, and listen more. And they listen intently. That’s an advantage in following up. You’re able to bring up something you learned in your last conversation to launch your next one.

Most people love to talk about themselves. Shy people play into this natural tendency. That makes them more likeable. Which makes them more memorable!

Bring a friend.
If you’d feel more comfortable with someone by your side, then bring them along! You’ll be more at ease, so you’ll be more likely to reach out to strangers.

Networking experts usually advise against this, with good reason. They fear that you’ll be “wallflowers.” Resist that tendency with all your being!

Pollak suggests that you bring the most extroverted friend you know. Let him or her reach out to people. Of course, you’ll chime in once the conversation has started.

If I’m shy, you must not be …
Pollak cites studies that show that 40 to 50 percent of all people describe themselves as “shy.” Remember this the next time you want to reach out to someone.

If you’re shy, chances are they’re not. Just get the conversation started and they’ll run with it! If you’re not shy, chances are they are. They’ll welcome you initiating a conversation.

Our bigg quote today is by Rachel Naomi Remen, the educator and author.

“The most basic and powerful way to connect to another person
is to listen. Just listen. Perhaps the most important thing we ever
give each other is our attention. A loving silence often has far more
power to heal and to connect than the most well-intentioned words.”

So don’t be shy about listening … to people you know, to people you just met. Paying attention pays off!

Make it a goal this year to meet new people. Speaking of that, we’ve developed The Bigg Goal-Setting Workbook, which you can download free when you subscribe to our free weekly newsletter. Check it out today!

Next time, we’ll ask the question, “Does it pay to be smart?” We’ll talk about what your IQ says about how rich you’ll be. Until then, here’s to your bigg success!

The Single Most Destructive Thought You Can Have

Here we are – the holidays are over and we’re back to work. We’re ripe with enthusiasm as we consider the possibilities for the New Year. With that in mind, we want to talk about the single most destructive thought you can have.

Think of people you know who have one or more of the following traits:

  • Need constant recognition.
  • Often angry, or depressed.
  • Complain about how unfair life is.
  • Scared to take any risk, or sometimes even make a decision.
  • Unsuccessful time after time, attempt after attempt, job after job.
  • Unable to trust. They have few friends.
  • They’re emotionally unhealthy, and that is even leading to physical ailments.
  • Addicted to one or more of the following: alcohol, drugs, gambling, etc.

Why do people exhibit such behaviors? It’s often because of how they think. If you find yourself exhibiting one of these traits, you, too, may have fallen prey to the single most destructive thought you can have …

You think you’re not solely in control of your life.

Not accepting that you are in full control of your life is the easy way out. When life treats you badly, blame it on circumstances. Your parents. Your spouse. Your kids. Your boss. Anything or anyone, other than you! It’s much easier to blame outside forces than to accept responsibility yourself.

But some people look at this responsibility as a burden. It’s not a burden – it’s a blessing. It means you are free to create your dream life. It’s empowering!

Responsible means “response-able.”
You may be saying, “That all sounds great, but you’re kidding yourself if you think you can control everything.”

We’re NOT saying “you control everything.” We ARE saying you control your life. There is a difference.

Obviously, you can’t control everything that happens to you. But you can control how you respond. Steven Covey calls this “response-able” in his great book, The 7 Habits of Highly Effective People.

Thinking freed him from captivity
Victor Frankl, in his great book, Man’s Search for Meaning, tells his inspiring story as a prisoner in the concentration camps of World War II. He seemingly lost everything – his family, his friends, his clothes, his dignity. However, there was one thing nobody could take away from him … his thoughts.

Sometimes, he chose to escape his circumstances and envision himself far, far away. He chose to learn from his experiences – from the guards and fellow prisoners. He was free from the day-to-day brutality of the concentration camp because of his thoughts. Because of how he responded to his circumstances.

Our quote today is by author and speaker Roger Dawson.

“The most self-destructive thought that any person can have
 is thinking that he or she is not in total control of his or her life.
That’s when, ‘Why me?’ becomes a theme song.”

So you, and you alone, write the song that makes the whole world sing. Make your life a melody and enjoy inner harmony.

Next time, we’ll discuss why shy people make the best networkers. Until then, here’s to your bigg success!

How Do You Define Success?

Happy New Year! As we think about the year ahead, we want to ask this question:

On December 31, how will you know if you’ve succeeded?

To help you with that, we developed The Bigg Goal-Setting Workbook For Bigg Goal-Getters Like You. We love short titles here at Bigg Success! The Workbook takes you through a six-step process:

Step 1 – State your goals.

Step 2 – Classify your goals.

Step 3 – Explain the importance of your goals.

Step 4 – Action items.

Step 5 – Goal statement.
From this Workbook, you’ll end up with a clearly-defined goal statement. A goal statement summarizes what your goal is, why you must achieve it, and the actions necessary to do so.

All in one, simple statement. Concise. Specific. Memorable.

Step 6 – Internalize your goals.
With that in hand, you’ll be able to internalize your goal. To get your goal into your subconscious mind. So it’s always with you. Always available. On-demand.

One way to do this is to read your goal statement when you get up in the morning. As you do this, day after day, your goal will be in your mind all day. 

Read it again when you go to bed. That way it will seep into your subconscious mind as you sleep.

Soon, you’ll be able to pull your goal statement out of your memory, on demand. So when you’re sitting in line at the drive-thru or when you’re working out, think about your goal.

Picture yourself taking the actions necessary to achieve it. Feel yourself actually achieving it. Great athletes do this; so should you.

Be consistent and persistent. You don’t have to be a hero. Just day by day, hour by hour, minute by minute, work to achieve your goal.

Before long, you’ll be ready for another goal … because you’ve already accomplished this one!

The Bigg Goal-Setting Workbook For Bigg Goal-Getters Like You is full of great tips, inspiring quotes, and printable forms that you can use to set, and get, your goals. And it’s free!

All you need to do is sign up for our free newsletter, The Bigg Success Weekly. And when we say “weekly”, we mean it! We promise not to fill up your Inbox with a bunch of e-mails.

Each week, you’ll get some great articles, success stories, timeless principles, leading-edge applications, and links to help you succeed bigg!

So sign up for a free newsletter and get a free tool. A tool that you can use today! How’s that for a deal?

Our bigg quote today comes from Ellen Goodman.

“We spend January 1 walking through our lives, room by room,
drawing up a list of work to be done, cracks to be patched.
Maybe this year, to balance the list, we ought to walk through the
rooms of our lives … not looking for flaws, but for potential.”

So look for your potential … define the success you want with your bigg goals this year. Because you’re a bigg goal-getter, too!

Next time, we’ll discuss the single most destructive thought you can have. Until then, here’s to your bigg success!