People Dumber Than You Are Making Millions

People Without College Degrees Are Making Millions: Here’s Their Secret

Have you ever wondered how some individuals, who may not be the sharpest tools in the shed, are somehow making millions? It’s a perplexing thought that has crossed my mind countless times throughout my life. As I sit here, reflecting on my own journey, I can’t help but ponder the secrets behind their success.

Twelve years ago, I found myself working at a climbing gym, barely scraping by on minimum wage. It was during this time that I had a chance encounter with a man who would forever change my perspective on what it takes to achieve financial freedom.

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The Enigmatic Entrepreneur

He walked into the gym, a figure draped in black from head to toe, his exposed skin adorned with intricate tattoos, and a beard that could rival that of a lumberjack. As we struck up a conversation, he began to share his life story with me.

This enigmatic individual had dropped out of school and hadn’t held a traditional job in years. Instead, he spent his days traveling the world, embarking on one thrilling adventure after another. From hiking the John Muir Trail to biking across the country and surfing the waves of Bali, his life seemed like a never-ending series of exhilarating experiences.

I couldn’t help but wonder how he was able to afford such a carefree lifestyle. At the time, I was 28 years old and living in a van, drowning in $80,000 of debt. The thought of traveling the world without a care seemed like an impossible dream.

The Surprising Truth

My initial assumptions about this man couldn’t have been further from the truth. He wasn’t a drug dealer or recklessly financing his adventures with credit cards. Instead, he owned five apartment buildings, ran a shop where he fixed up old Harleys purchased from Craigslist, and had even built a recording studio for musicians in his garage.

This man was the epitome of an entrepreneur, and he was the first true breed I had ever encountered. I couldn’t help but wonder what his secret was. What made him so special? Because, as he was quick to point out, he wasn’t particularly smart. In fact, on the bell curve of intelligence, he probably fell smack dab in the middle.

The Plateauing of Cognitive Ability

It was a revelation that threw me for a loop. My entire worldview had been built on the belief that intelligence was the key to financial success. However, a study out of Sweden called “The Plateauing of Cognitive Ability Among Top Earners” confirmed that this wasn’t necessarily the case.

The study found that there was actually a drop in cognitive abilities corresponding to the top 5% of earners. It was a startling discovery that challenged everything I thought I knew about making millions.

Four Limiting Beliefs

As I delved deeper into this phenomenon, I began to identify four limiting beliefs that were holding smart people back from achieving financial success. These beliefs were the very things that were preventing them from making millions, while their less intellectually gifted counterparts were thriving.

1. The Fallacy of Not Caring About Money

The first limiting belief was the notion that money doesn’t matter. Our society has a complicated relationship with wealth, often equating it with status and value. This leads to the misguided belief that those who care about making money are shallow, greedy, and materialistic.

However, the truth is that money is a necessity for survival. Whether we like it or not, we all need it to provide for ourselves, our families, and our communities. Believing that we can opt out of the money game is a dangerous mindset that can lead to a life of financial struggle and dependence.

2. The Fear of Looking Stupid

The second limiting belief that holds smart people back is the fear of looking stupid. When you’re perceived as intelligent, there’s an immense pressure to maintain that image. The thought of trying something unconventional and failing can be incredibly daunting, as it threatens the very identity you’ve built for yourself.

Dumb people, on the other hand, have an advantage in this regard. They’re often underestimated, which frees them from the expectations and allows them to take risks without the fear of judgment. They have nothing to lose and everything to gain.

3. The Overestimation of Risk

Smart people tend to overestimate risk, while dumb people often underestimate it. This is partly due to our evolutionary heritage, where assuming the worst-case scenario was a survival mechanism that kept our ancestors alive.

However, in today’s modern society, the risks we face on a daily basis are far less severe. Losing money or status is rarely a catastrophic event that we can’t recover from. Yet, smart people often allow their fear of potential downsides to paralyze them, preventing them from taking the actions that could lead to incredible success.

4. The Dunning-Kruger Effect

The fourth limiting belief is rooted in the Dunning-Kruger effect, a cognitive bias that causes people with low competence in a particular domain to overestimate their abilities, while those with high competence tend to underestimate theirs.

This bias is explained by the four stages of competence: unconscious incompetence, conscious incompetence, conscious competence, and unconscious competence. Smart people often get stuck in the middle stages, acutely aware of how much they don’t know, which can prevent them from taking action.

The Secret of Success

After meeting my first billionaire, I stumbled upon the secret of success. This individual, despite his immense wealth, seemed to have no clue what he was doing. He was just too stupid to quit.

He overestimated his abilities, didn’t fully grasp the potential pitfalls, and refused to give up even when everyone around him thought he was an idiot. It was this relentless perseverance that ultimately led to his success.

The lesson I learned from this encounter was profound: you can’t win if you don’t start, and you can’t lose if you don’t quit. Whether you’re smart or dumb, this simple concept is the key to finding success in life.

Conclusion

So, the next time you find yourself wondering how people dumber than you are making millions, remember that intelligence isn’t always the determining factor. It’s the willingness to take risks, the resilience to keep going in the face of adversity, and the belief in oneself that truly sets successful individuals apart.

Don’t let your own limiting beliefs hold you back from achieving your dreams. Embrace the mindset of an entrepreneur, start taking action, and never give up. Who knows? You might just find yourself among those making millions, regardless of where you fall on the intelligence spectrum.