/sci/ - Science & Math

lel

>>5225772
Are you a billionaire? How many people are billionaires?

>>5225772

>U.S. Presidents without any college degree: 10
>U.S. Presidents with a PhD: 1

>Implying that being a billionaire really matters because society thinks it does

>>5225785
>U.S. Presidents without any college degree: 10
What?

yea but those people are extremely driven, confident, charismatic, get shit done and had good luck. Something 99% of 4channers are not, specially the confident part.

>>5225793
>material value doesn't matter durr

That's because most of them realized that wasting several years and thousands of dollars to work at a dead-end job for the rest of their regretted life is a waste of time.

talent to make money is not learned at school

>>5225805
>luck
But you make your own luck.

>>5225792

Yup.

George Washington
Andrew Jackson
Martin Van Buren
William Henry Harrison
Zachary Taylor
Millard Fillmore
Abraham Lincoln
Andrew Johnson
Grover Cleveland
Harry S. Truman

Only president with a PhD:

Woodrow Wilson

Most billionaires are normal people who have godlike luck. Many were probably working on their degrees when they had their windfall.

>>5225806
>you make your own luck
Naive fool detected.

And what proportion of people who dropped out of college are billionaires?

>implying there is any difference in the life of someone with $9 billion vs. $3 billion

>>5225813
What about it?

>>5225821
>acting like he doesn't know

>>5225806
okay, tell that to the multiple people who are hit by drunk drivers every day.

>>5225825
I really don't understand you, tell me about it.

>>5225826
actually it's more like 50+ people.
http://dui.lifetips.com/cat/61352/drunk-driving-facts-stats/index.html

This really doesn't mean anything. Most PhDs are people on specific career paths that don't lead to being a billionaire e.g., college professors, scientists. Most people who become billionaires come from rich families and inherited fortunes. They never needed college to continue expanding their family's financial empires.

People that make a lot of money usually have a lot of discipline (as in being able to force yourself into new, uncomfortable situations and control your desires).

Intelligence and serendipity imho seem to be smaller factors.

>>5225826
That's flawed logic.

O lawls now I can only makes 3 billion? Woe is me.

Education isn't about $ anyway. Anyone who thinks it is is a naive fool. You want $ you need to be good with people and connect with the right situations.

You want to be above the herd in ways that the uneducated can't even conceptualize, you get an education.

>>5225838
From a reductionist viewpoint, maybe. But I don't think that's what you mean.

>>5225836

Also your opinion does not reflect statistical reality.

http://www.nytimes.com/books/first/s/stanley-millionaire.html

"Conversely, people of modest backgrounds who believe that only the wealthy produce millionaires are predetermined to remain non-affluent"

It is more about how well you can apply basic arithmetic.

If you can't become a millionaire on an average salary, you simply can not control yourself.

>>5225858
>If you can't become a millionaire on an average salary
Average US individual salary is about $25k/yr. So, assuming that an individual can put half of that into savings every year with an incredibly high 5% interest, the average person can become a millionaire in... around 30 years!

tl;dr no

>>5225870

Whoops, meant household income.

But I guess you aren't planning for that so I withdraw my point.

>>5225849
actually, education is about money

most schools gear their undergraduate programs with immediate job placement afterwards in mind

>>5225870

>He doesn't know about personal bussinesses and entrepreneurship.

lol

>>5225886
>personal bussinesses
All of these require massive input from savings or loans and most of them don't pay out.
also: don't start a business if you can't spell "business"
>entrepreneurship
whoops, you got me there. all entrepreneurs are millionaires!

>>5225891

Look man we're just trying to help you with a little banter.

If you don't want to fund your interests so be it.

Getting the average household income and finding more than a 5% return isn't out of reach for most people, but it will require spending a few hours doing boring things.

>>5225885
Sure, there are undergrad science programs with that focus. It ain't all of them though by any means.

Engineering etc - high level $ wage slaves needed for industry
Biology - okay you wanna bio degree here you go enjoy eventually finding a $26K lab tech position

>>5225793
Are you kidding? Fucking mansions, beautiful bitches, etc.

>>5225772
You're not analysis the data properly if you find this conclusion moving.

>>5225909
The median household income is almost exactly equal to the median income of fully employed men, so that's not too hard to achieve.

But realistically, if that's your income, becoming a millionaire means living like a miser all of your life so you can say you died a millionaire. And by then, having a million dollars will be equivalent to having $100,000 today.

If you're just investing rather than working a second job, getting over 5% takes luck. Index funds stopped paying off around 2000.

Becoming a millionaire young enough to actually benefit from it requires one of:
1) gambling, and getting lucky, (most investment approaches depend on this)
2) inheritance,
3) a large income and frugal living,
4) a very large income and prudent living.

>>5225955
Incidentally, the term "millionaire" was coined, and picked up its connotations of fantastic wealth, back when cents were worth about as much as dollars are today.

So to really be a millionaire, you need a net worth of around a hundred million dollars. Having a million dollars doesn't mean you're rich anymore, it means you have a decent house and won't go bankrupt if you get sick.

COUGH SPLUTTER BASE RATES COUGH

ITT: Growth investors and people who don't know about dividends.

>>5225955

Ok so without an inheritance your tool of choice is gambling for your future?

Saving 8-15% of a $50k salary isn't "living like a miser". It will take around 30-40 years to get where you want though.

The real question is, why do you view having more money than you know what to do with as beneficial at such a young age? People who are born into extreme wealth knowingly are hardly well adjusted.

Where would science be without struggle?

Historical average returns on mutual funds are around 12%, and average inflation is 3.5%. So only having 100k after all that time seems like you don't know basic arithmetic or don't know how to plan.

Is luck really your only response you give when someone asks you how you make decisions under uncertainty?

>college
>education

haha, fucking non-geniuses that cant figure out shit on their own and need a fucking tard lecturer to help them

I CANT SOLVE THESE PROBLEMS ON MY OWN, I CANT FIGURE OUT THE EXPLANATIONS ON MY OWN

I CANT STEAL THE CHEMICALS REQUIRED FOR THIS EXPERIMENT
I CANT FIGURE OUT WAYS TO LEARN HOW TO DO HITS EXPERIMENT SAFELY

MUST GO TO COLLEGE BECAUSE I'M A DUMBFUCK

>>5225796
Lifetime supply of adderall is all you need

>>5226091
Coming on a little strong their buddy.

>>5226091
>I CANT STEAL THE CHEMICALS REQUIRED FOR THIS EXPERIMENT
wut