more study = more money?

Hey there,

Today, I want to give you a Christmas emotional roller-coaster.

I'll tell you of your predictably terrible future, then give you some glistening hope.

We often hear about college grads who end up working at Starbucks.

Now, there's nothing wrong with being a barista, but most of those folks don't exactly seem happy about their careers.

What are the facts about college grads?

• Only 46% end up working in their field.

• student loan debt has a major impact on the finances of 28%.

• 48% live paycheck to paycheck.

• 29% are incertain about paying rent.

• 14% live under the poverty threshold.

That's a pretty grim picture.

But is that the whole picture?

88% of millionaires got some college (versus 38% of the non-millionaire population).

And 52% of millionaires even got a master's or a doctoral degree (compared to 13% of the general population).

So, education seems like a near-necessary step towards money, but it is far from sufficient.

What are other predictors of future net worth?

A study showed that net worth was reliably predicted by having purpose in life.

In short, do what's important to you, and you might be richer for it!

If that doesn't bring you some Christmas cheer, I don't know what will!

I’ll take next week off, so we’ll hear from each other in 2024.