You Don’t Need a College Degree to Become a Millionaire

One of the biggest problems many college graduates are facing today is not the lack of opportunities but the crushing student debt. Most people may have a college degree, but a lot of them have entry-level jobs and therefore, live paycheck to paycheck, in spite of their college degree.

Rather than a college degree enhancing their prospects of finding a good job, to be more marketable and earn a six-figure income, many people are facing the opposite situation. They have six-figure debt instead!

Many jobs do require a college degree. In the fields of science, engineering, technology, mathematics, law, it is logical that we need a college education to develop the skillsets and get the required knowledge. But do we need these degrees to be financially free?

Colleges used to once guarantee that if we get a degree, we will get a decent paying job once we graduate. That has been the formula for the longest time. But that may no longer be the case or the only route to becoming financially free.

Sometimes the better way is to figure out what we want to do, who we want to become and build a business that buys assets to fund the life we want to live. It’s okay to think differently than our friends and family and it’s okay to feel that college may not be the best option for us.

Successful People Without College Degrees:

The first name that immediately comes to mind, is Bill Gates. He dropped out of college and built a company that everyone in the world knows today – Microsoft. It was a leading company in the personal computing revolution and it made Bill a very rich man. His net worth today is above $77 billion.

Ralph Lauren is another very good example. He was an immigrant and was originally from the Bronx. After spending two years at Baruch College, he eventually went on to create his own clothing line. At the end of 2019, his net worth is estimated to be at around $6.3 billion.

Another fashion icon, Steve Madden, had to drop out of college due to his partying lifestyle. He started his company with only $1,000 in his bank account and since then, he has built an empire.

Steve Jobs is perhaps the most popular college dropout who went on to become successful. He founded Apple, a company that has a cult-like following and went on to become the first trillion-dollar company. He was personally responsible for so many iconic, revolutionary and trend-setting products. All without a college degree.

Mark Zuckerberg is another popular example of a college dropout. He single-handedly redefined how humanity interacts with each other. He created the social media giant, Facebook and currently has a net worth of over $70 billion.

Similarly, Rachel Ray, Arash Ferdowsi, Matt Mullenweg, Daniel Eck and Sir Richard Branson are other high profile examples of people who didn’t require a college degree to become successful and earn millions and billions of dollars. Like them, it is up to us to decide what to pursue and how.

Sometimes, an unorthodox way is the best way to success and financial freedom.