Now it’s time to explore the other three crucial types of intelligence!
Wondering what they are?
Robert explains that academic intelligence, professional intelligence, and health intelligence are all important.
Let’s start with academic intelligence.
Academic intelligence involves our skills in reading, writing, and mathematics. It also includes the ability to solve complex problems, such as predicting when and where a hurricane might occur and understanding its potential impacts.
Next up is professional intelligence.
For instance, a doctor’s expertise not only brings in a significant income but also helps solve numerous health problems. Essentially, when we address people’s issues, they are willing to pay for those solutions.
Finally, let’s talk about health intelligence.
Health and wealth are interconnected. Today, health care is becoming one of the biggest challenges we face. Social Security is a $10 trillion issue, while Medicare is a $64 trillion problem.
The harsh reality is that many people profit from causing others to become ill. This is often due to unhealthy products like junk food, sugary drinks, cigarettes, and alcohol.
Robert’s view is that we need various types of education and intelligence to thrive in today’s world.
He emphasizes that while he doesn’t believe financial intelligence is the most crucial type of intelligence, it does influence all the important aspects of life.
Is financial intelligence necessary for everyone?
If you plan to work for the government and receive a pension, you might not need as much financial intelligence.
So, who benefits most from financial IQ?
Robert explains that by examining the Cashflow Quadrant, he identifies "who needs the most financial IQ."
The Cashflow Quadrant categorizes people into four distinct groups:
These groups are represented by the acronym ESBI:
- E: Employees
- S: Small business owners, self-employed individuals, or specialists
- B: Big business owners (500+ employees)
- I: Investors
People in the E and S quadrants may not need as much financial intelligence. For instance, Robert’s mother wanted him to be in the S quadrant with a good-paying job. However, if you aim to run a large business (B quadrant) or become a professional investor (I quadrant), financial intelligence is crucial.
In summary, you can be a successful doctor or teacher and still struggle financially, but you can’t be a successful entrepreneur or investor and be poor. That’s why financial intelligence is so important.
Ready to dive deep into each type of financial IQ?
