Originally Posted by lazygood4nothinbum
i have similar experience. most of the people i know who have money are the people who really wanted money regardless of their education and almost regardless of their i.q. (within reason).
i know people of high i.q.'s and good education who have little and those with lower i.q.'s and less education who have done, financially, quite well.
As I noted in my book report on "TMND" here Book Report - Millionaire next door
The authors pointed out several trends that directly affect college educated people in a negative manner.
The first is obvious...starting out 4-6 years later in the workforce, and being saddled with a lot of debt.
The more insidious one is spending those 4-6 years with a bunch of wealthy peers who want to show off their wealth through big spending. The "live well above your means" approach is difficult to defeat once well inoculated. Further, you often end up with a lot of these "UAW" types as lifelong friends and end up competing with them on who has the bigger house, better car, etc.
So while in the very long haul, college educated people tend to be better off in their 50's and 60's, someone who starts a business in their early 20's without having gone to school after 4-6 years of life in the working world will often do better financially throughout their lives.
Although I think the lack of a degree is more of a problem these days than it was 20-30+ years ago.