While it’s a fact that the world’s richest people place a much lower value on formal education than the words average – rich people care about their own personal growth and informal education a hell of a lot.
They read books on investing, growth and success, they talk to people that know more than they do and they ask a lot of questions, they try new things and do anything that can teach them something that they can’t learn in a classroom because they understand the value of self-education. If you believe that the only way you're going to become rich is by ensuring you have a long list of degrees and diplomas on your resume then chances are you're going to be average for life – but if you're constantly trying to learn new things and improve yourself – both mentally and physically than you're probably going to earn a lot more money than the nerd that’s busy earning his third degree.
You may think this sounds quite contrary to logic but it’s been statistically proven that a high IQ has very little to do with earnings and net worth – since having an in-depth knowledge of nuclear science can’t help you work with people which are your key to financial success. In addition, there is absolutely no link between formal education and becoming super wealthy – even though having a degree will ensure you earn more than others who do not – it doesn’t mean you’ll become a millionaire or get anywhere close.
Larry Ellison – the fifth richest man on earth who started the software giant Oracle and amassed a net worth of 51 billion dropped out of the University of Illinois and Chicago – and didn’t seem to have much trouble becoming what he is today and in his own words;
“When I do something, it is all about self-discovery. I want to learn and discover my own limits.”
– Larry Ellison
If you're into self-discovery and pushing boundaries – you probably have what it takes to become a millionaire. That being said a research study into the educational backgrounds of various millionaires showed that the most popular degree amongst them was a degree in engineering followed by a Masters in Business (MBA), Economics and Law. So if you have any of these degrees you may already have a leg-up on the rest.