Somehow, we’ve associated ‘clever’, needlessly complex behaviours with accruing wealth. But there’s a big problem with this narrative.
It’s easy to see why, though. You take one look at how the finance industry is depicted, with men in fancy suits who use big words and point at complicated numbers and graphs … it’s enough for anyone to think that to be wealthy, you have to be smart.
Now, obviously competence in one area doesn’t magically bestow competence in another. You can be great at your job and terrible with your finances. They’re different skills. So that wasn’t surprising.What I did notice, though, was that even when presented with a clear action plan, these intelligent, academically oriented, educated people sometimes had a harder time acting.
I found that smart people lost a lot of opportunity and time because they were essentially trying too hard to be clever, avoid mistakes, get an edge over others and do things differently.They think these behaviours are smarter, but actually, they result in less optimal outcomes. In other words, trying so hard to be smart leads to not-so-smart choices.
But if your behaviours aren’t getting you better results than the simpler alternative, then what’s the actual benefit ? Is the only real gain that you get toIf so, your need to feel smart isn’t helping you build wealth – it’s holding you back from it. It’s making the whole wealth-building process harder and slower than it needs to be.
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