Back To School Millionaire, Yakezie Round Up, and Uncommon Money News
|August 17, 2010||Posted by Roshawn Watson under Uncategorized|
By: Roshawn Watson
It is time to go back to school, which made wonder what impact does school have on overall economic success? Researcher David C. McClelland wrote:
“So what about grades? How valid are they as predictors (of success)? Researchers have in fact had great difficulty demonstrating that grades in school are related to any other behaviors of importance – other than doing well on aptitude tests…It seems so self-evident to educators that those who do well in their classes must go on to do better in life that they systematically have disregarded evidence to the contrary that has been accumulating for some time”
Robert J. Sternberg further argued:
“Nevertheless, between 75 percent and 96 percent of the variance in real world criteria such as job performance cannot be accounted for by individual differences in intelligence test scores.”
Of course, this is not to say that school is not important. Most millionaires do go to college and say that they benefited from college. The average high school GPA is 2.92 on a 4.00 scale (N=715). However, the next time you or a student you know is struggling with school, remember that 93% of millionaires stated that the most important lesson they learned from school was: “hard work was more important than genetic high intellect in achieving.” Notice, that speaks to tenacity not intelligence. Tenacity is one of the top two characteristics most millionaires learn during their school days.
Thought Question: What is the most Important Lesson You Learned From School?
Now, it’s time to do the weekly Uncommon Money News and Yakezie Round Up.
Uncommon Money News and Yakezie Round Up
In preparing to write my posts, I often come across noteworthy and sometimes bizarre financial and business news. Below are links to some of these sites. Enjoy!
This week I participated in 3 carnivals: Carnival of Financial Planning hosted by the Skilled Investor, Best Money Tips: How to Order from a Taco Truck Hosted at Wisebread, and the Festival of Frugality #243 Hosted at SimplyForties.
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Posts Of The Week
Who Are TV’s Top Earners?
To Splurge Or Not To Splurge (Barbara Friedberg Personal Finance)
New CEO for Revived GM
Entertainment Money News
Who Are TV’s Top Earners?(POW)
Johnny Carson Gives $156 Million to Charity From Beyond the Grave
Personal Finance (Yakezie, PF blogger Friends, and others)
The Upside of Irrationality (Joe Taxpayer) – The Study Outcome Is Exactly Opposite What You Expect
Why We Say No to Cosigning (Joe Plemon)
Myths About Millionaires (Squirrelers) – A Million Is Just Not What It Use to Be
To Splurge Or Not To Splurge POW* (Barbara Friedberg) – This Portfolio Manager is Quoting Zac Efron
Is The Limb Getting Ready To Break? (DIY Investor) – Investors Prepare Yourselves!
How I Almost Got Scammed (Invest It Wisely) – Don’t Get Scammed on Your Next Trip
Copyright 2012, Roshawn Watson, Pharm.D., Ph.D. All Rights Reserved.