Joachim

Sky, I'm genuinely not trying to stomp you. Please don't fall into the Kyosaki scam. I'm not sayng that you can't get wealthy on your own but if you join the disciples of con man Kyosaki, the only American dream that will come true is his. Just try to google Kyosaki and the search engine will suggest "scam" before you're even done typing.

Ok buddy, I'll leave you alone now.

SkyHigh

Kyosaki is an author who has written a book. He is not a God. There are plenty of others like him. Each one fills pages with 98% BS but there is always an angle of originality that is of service. I understand that if you were to try and literally follow every step in their path to riches that it will not work out but it is the mindset and a different approach to life that is the real benefit to reading a book like that.

The path to financial freedom is different for everyone. In my current occupation I walk among people daily who share a different approach to working and income. Just last night Nightline ran a story featuring a guy with only a high school diploma who is an investor and buys foreclosed homes.

Kyosaki and the rest usually start someone on the path to a different life and nothing more.

SKyhigh

SkyHigh

At this point all I can say is to try and notice the people who own the businesses that repair your car, fix your plumbing issues and mow your lawn. If you were to take a personal survey of businesses that you come in daily contact with you would notice that most of them are owned and ran by people with little formal education.

Lastly I would like to add that my Aunt was the president of a nationally known bank. All she had was a high school diploma and a conscience that permitted her to lie about having a PHD. Her lie took her through a 35 year career and now she is nicely retired.

I think it is a safe bet that at least 51% of all self made millionaires have a high school diploma or less. A more interesting question is why are you so obsessed with this topic? Are you getting close to separation from the military? A little worried perhaps about finding a inhospitable job market? Maybe you are heavily laden with higher education titles and are wondering if it will pay off to your expectations?

It never fails to surprise me the topics that some here are willing to spar over. The ensuing debate may not advance everyone's understanding of the world but speaks volumes about the mindset of the instigator. What has got you so upset about my position on success and education? I am here to help.

Skyhigh

Cubdriver

We just want the facts Sky, just the facts.

If by "working world" you mean all workers in all work divisions, ie. white collar and blue, then you are flatly wrong. Most of the best jobs in technology only require a bachelors degree. I know because I am among them.

More money than people with advanced degrees? Nonsense- proof is supplied below.

I do not think this is true of a large proportion of these people, although I admit I have not had time to research it. I suspect the ones who are not formally educated are actually self-taught, and are not best described as uneducated; they prefer not go to a formal school and may be quite knowledgeable in their chosen fields.

----------------------

How about this chart, Sky. It shows that educational attainment corresponds closely to income levels in this country for most people. This is from a scientifically-credible source: US Census Bureau. I'll pick up the educational attainment for millionaires rebuttal soon; this is my rebuttal to your claims covering 99% of the US working population over 25 years of age.

Cubdriver

Now for the idea that top bread winners are mostly college dropouts: not true of the Richest 10 or 20 Americans. Most of them are formally educated. I count 2 dropouts out of 10 on the first list, and 6 dropouts out of 20 on the second. To say "most of them are dropouts" is not true. I know SkyHigh made the claim that most self-made millionaires are less than college educated, and did not claim the richest were not college educated, so I'll see if I can refute that one next.

Education Degrees Of The 10 Richest Americans

1. William H.Gates III- Harvard dropout after third year.
2. Warren Buffett- Masters degree from Columbia University.
3. Lawrence Ellison- college dropout.
(Note- millionires 4-7 are all heirs of Sam Walton, who had a B.S. degree from University of Missouri)
4. Jim Walton- B.S. degree, University of Arkansas.
5. Christy Walton- no data available.
6. S. Robson Walton- Juris Doctorate from Columbia Law School.
7 Alice Walton- B.A. degree from Trinity College.
8. Michael Bloomberg-M.B.A. from Harvard.
9. Charles Koch- Masters degree from MIT.
10. David Koch- Masters degree from MIT.


Education Degrees Of The 20 Richest Americans- Forbes 2008

1. William Gates III-Harvard dropout after third year
2. Warren Buffett-Masters degree from Columbia University
3. Lawrence Ellison-college dropout
4. Jim Walton- BS degree, University of Arkansas
5. S Robson Walton-Juris Doctorate from Columbia Law School
6. Alice Walton-BA degree from Trinity College
7. Christy Walton & Family- NA
8. Michael Bloomberg-MBA from Harvard.
9. Charles Koch-Masters degree from MIT
10. David Koch-Masters degree from MIT
11. Michael Dell-college dropout
12. Paul Allen-college dropout
13. Sergey Brin-MS Degree from Stanford.
14. Larry Page- MS Degree from Stanford.
15. Sheldon Adelson-college dropout
16. Steven Ballmer-MBA from Stanford.
17. Abigail Johnson-MBA from Harvard.
18. Jack Taylor & Family-college droput
19. Anne Cox Chambers-B.S. degree from Finch
20. Donald Bren- B.A degree from Univ. of Washington

Cubdriver

Here is an attempt to rebut SkyHigh's claim that millionaires are generally not college educated. I admit this chart does not prove it empirically. What it does is give, the opinion of three leading scholars in the field. I added the underlines where the chart mentions educational attainment characteristics for the class we are interested in, the very rich.


Chart from Wikpedia on Educational Attainment in the US.

Cubdriver

Your turn Sky.

USMCFLYR

[quote]And it is your contention that everyone of these people are self-made millionaires? My former brother-in-law owned a lawn care service. Not a millionaire. My GF is working with a MASTER PLUMBER. I had her ask him (in a nice way) if he were a millionaire. Nope - not one either (at least if I am to believe him). Don't know about the owner of the repair shops - but you have talked about owning gas stations before as some high paying professiona and yet people with family in that very business said otherwise.

Sorry Sky - you are the one obessesed. You are the one who says that he can't just let it go. You are the one who states that something unchallenged becomes fact. It is funny Sky...when you are challenged - you crumble.

Would it make you happy if I were Sky? I am not worried AT ALL about an inhospitable job market. I KNOW there is an inhospitable job market. It is the worst job market that has existed since I joined the military. Sky - you don't have to worry about my financial situation - but thanks for asking

You make things up Sky. I ask for accurate information. I would LOVE to hear your stories without the embellishment. I asked that you make an accurate statement. You insist on spreading misinformation. Yes Sky....it amazes me what lengths you'll go to in order to spread your OPINIONS, devoid of facts.

USMCFLYR

USMCFLYR

Jeezzzz Cub.......did you hurt yourself lifting that sledgehammer? You need to go back to that technical thread Sky and I were having a discussion ASKING FOR FACTS - but not actually having to produce them I mean. I made an attempt at the chart you used showing the richest people's educational background, but I was to lazy to actually post the link much less post the actual chart!

USMCFLYR

Cubdriver

You were doing a great job USMC... I just got bored and thought I'd take a swag at Skyhigh's wild conclusions. He's a good sport and I know he's not offended. I am going on the road now so I will leave you guys at this point.

Cub