The 9 reasons why many educated people are poor include:
Many educated people are poor because financial education isn’t given in schools
The reason why most professionals don’t know much about money is because school wasn’t designed to give education about money and it doesn’t matter how long or how many years or how many degrees you get in a formal educational system, am sorry, you may know nothing about money and because you know nothing about money you may stay day broke even with five degrees. What’s the way out, get a financial education by reading good books
Most people become uneducated immediately after college.
Education isn’t what you get in the classroom. Education is what you get every day of your life. A truly educated man is that man who learns every day. Education is like taking water everyday
The more time you spend in school, the more you are likely to love job.
This is because jobs don’t create leverage to create wealth. The more you love jobs the less you are likely to be poor. While everyone cannot be an entrepreneur, everyone can get financial education, learn and master the art of investing, so even if you are an employee, you can learn about money and investing, invest properly and be financially independent.
So many people who think are highly educated are actually arrogant.
Don’t be unnecessarily arrogant because you think you have degrees. Many young people who never go to colleges are building unbelievable wealth, using modern technologies and the internet.
Be humble and learn from the next generation.
So many highly paid people buy a lot of Liabilities.
A guy who earns $70,000 a year thinks he is rich, with expensive smart phones, latest cars, biggest TV set, most expensive cloths. The amount of money you earn doesn’t matter the amount of money you invest in your future
Many highly educated people do lose their jobs.
In today’s’ economy, it doesn’t matter how much degrees you have, anything can happen. Many people lose jobs and many loose business too but when you compare the possibility of losing your business to the possibility of losing a job, then you are going to see the difference. An employee’s job depends on the decision of another man while an entrepreneur is in control of his/her job.
Many educated people remain poor because of College Debt.
As at the time of writing this article the average student loan borrower has $37,172 debt. That’s just an average. Some students leave college with as high as $200,000 or more in student loan. In fact as at 2019, about 100 people in the United States have as high as a million dollars in student loan. In the year 2010, it took 7 years for an average college graduate to break even with his student loan but now it takes one decade.
The more time you spend in a classroom, the more you are likely to live your life alone.
The education system is designed to train students do things alone for example during time for doing papers but when in the real life you need to work collectively in order to accumulate wealth.
The ninth reason why many educated people are poor is because taxes are designed for them.
The more money highly educated people make, the more taxes government imposes on to them.
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