Do we need higher education to become rich ?

[minsmarine]

Well, this is a true story.

I'd know one friend, she was very bright and smart chinese. On her 2nd year in University, she drop out ( not because of financial ), to marry her boy friend who is bit of indian it's not funny in SG however it's funny back in my born place.

And the boy who she married is nither from rich family nor has good education background ( only Sec2 ).

Its about 15 years ago.

Present

She flied to SG in business class, go straight to ###### bank, Q for open account.

And when bank officer asked her how much did she want to made deposit to open new account. She opened her plastic bag ( inside has a few shoes boxes ) and said all.

Bank officer asked her again how much, so she smiled and open her shoes boxes and said all. Bank officer falls of the chair. And ask manager to entertain her while they are doing "COUNTING"

Her shoes boxes are full with 100 dollars US notes.

Unlucky her about 10% of her notes were counterfit

After all , it's 7 digits.

So what is the story about. Me, studied like hell, work like hell, travell like hell to just hold of house and car ( not saving ) and ofcourse louzy small little reef tank.

For her and her husband ( combind both less than 20 years of education ) and making money like I'd never seem it before ( well if combind all my salary for past may reach to that figure but not CASH ).

So guy do u think we need to study hard or in wrong line ?

Me sad ? No way, I am proud for her and u know , wealth is sometime also luck and hard working. Even how hard work u have and no luck with u. Hmmmmm, u know the song tittled "Dream".

Just to share.

[silverfish]

maybe she kenna lottery.. : )

I think an education gives u a better headstart.. however, your career still depends on you..

i heard that in a semiconductor company, it takes abt 10 years for a poly grad to become an engineer.. whereas for fresh grad, u start off as an engineer.. so education does count..

[lightningstrike]

luck and opportunities plays a big part.

[minsmarine]

Not striking lottery lar. I believe business doing so good.

If u r talking about poly and U grad ofcourse different , believe we live in PAPER socity.

But my tittle was RICH lay not professional title.

How much Engineer can earn, 1M in 20years ? It's earning not saving.

Pilot, Accountant, Lawyer and specialist doctor in SG earn highest ( Just assuming ), but do they have cash 1M in their account ?

Earning and Owning is different, me earn 5 digit a month, if u r talking about saving every month short fall. To save 6 digits hmm long way, 7 digits will kana scolded by wife to wake up from the dream. Unless I become CEO Of big bank.

[surfedelic]

In the UK uni that I studied - the first chart they shows is a chart ploting the wealth against Education.... and ... it is the same even in a foreign land.... the wealthy ones are the ones with little or no education ... everybody was dumbfounded when they show the chart --- not sure whether everybody is thinking of packing their bags ..

I once met the CEO whose company build the benjamin shears bridge ... get to know him thru a egypt tour ... this chinese old man about age 60 to 70 speaks and read fluent japanese and studied in Tokyo University and drive a car with car plate No. 3 told me about 90 % of what he studied he has returned back to the school .... so the morale of the story .....

Stay away from that bridge ..... sorry I meant stay away from too much educations

[Phewbacca]

first of all, we all have different definations of "rich". one man's ceiling is another man's floor.

sometimes, education does holds one back because we have more to loose. when we have the qualification, we're always less willing to give up our "stable" jobs and go in head first into any opportunities.

unfortunately, i belong to this mediocre category also (educated/non-scholar). i've often wondered if my life would be different if i've dropped out of school.

i would like to believe that without the "burden" of my qualification, i would have been more adventurous with some of my life decisions.

fortunately, i am happy with who i am and what i am right now. life's not just about dollars and sense......most of the time anyway...

[surfedelic]

first of all, we all have different definations of "rich".  one man's ceiling is another man's floor.

sometimes, education does holds one back because we have more to loose.  when we have the qualification, we're always less willing to give up our "stable" jobs and go in head first into any opportunities.

unfortunately, i belong to this mediocre category also (educated/non-scholar).  i've often wondered if my life would be different if i've dropped out of school.

i would like to believe that without the "burden" of my qualification, i would have been more adventurous with some of my life decisions.

fortunately, i am happy with who i am and what i am right now.  life's not just about dollars and sense......most of the time anyway...

I can't agree any better with you on this. I have the same mentality

But I do also agree that this mentality is hurting the spirit of entreprenuership. Singaporean are very comfortable ...... with a job .. can afford cars ... houses ...some more big marine reef ...... what the heck do i want to get out there and earn more money ..... -- we run the risk of losing everything if we run a business just to get a slightly better life ....or how many actually make it like Sim Wong Hoo from creative or Wong Ngit Liong of Venture Corp...so at the end nobody venture out.....

Maybe at the end of day .... who cares about entrepreurship - it is quality lives that we are after not quantity ...

[Tanzy]

You don't need higher education to be rich but those with higher education tend to be richer.

[reeflobang]

I never liked studying but being in Singapore, had no choice but to get that piece of "toilet paper" just to make sure no obstacles are in the way when I start working. Its now really a piece of toilet paper, taking it out only when I need it (to change jobs mainly). It does not guarantee riches but does prevent doors from closing on you. Its a practical world out here sadly...

Don't get away with trying to hard to be rich... we have read and seen enough cases where you will loose something in return... that might be priceless when you finally loose it / them.

[surfedelic]

I think singaporean are learning to be very cautious in every thing ......no right or wrong ...

The whole idea of riches and Education is controversial ....

Time have changed ... we are no longer in the colonial days where all you need is education ..... .. education only equipped us with the skill and know how .... but once you are up there in the corporate ladder .....another factor is at play - Connections ...

That's when usu the non-educated have load of time socialing I guess ...

[alanseah]

now even u got that "toilet paper" it's not a confirm u can get a job or even a job that give u salary of over 2k...

study like shit pay sch fees like shit and yet come out look for job. eveyone in the street is also a grad and it's nothing special at all and job is so little everyone fighting for it and even lower their salary demand just to get the job and not to mention those coming from china and inda also fighting job from u....

alot of things r restrict in singapore.. it's very hard to get real rich in SG..

and not to talk about entreprenuership... pls open your eye and look around big company from oversea or even small shop in local r clsoing one after another or reduce in size.. u think a person like u with no-link no great idea can fight for market in SG..

SG market is way too small for anything... just take the bubble tea for example. When ppls see u earning everyone follow.. so now happy already everyone close down. Or even the bread top, they come out all sort of bread but end up everyone also follow and want a market share.. so even you have great idea also dont mean u can get rich or really benfit out of it.. too many ppls in SG like to "follow the ball"

[surfedelic]

now even u got that "toilet paper" it's not a confirm u can get a job or even a job that give u salary of over 2k...

There is where you need connections ... nowsaday job searching is very different - you cannot look at the papers and sent tons of resume ... you are not going to get the job bro ... if you can then you are very lucky ...just like you said indian and china coming to compete. I have a friend working in microsoft looking to hire a APO consultant. He is so afraid to publish he advertisement nowsaday - becasue he receive tons and tons of resume ranging from 20 year old to 55 year old .... at the end he passed the job to the head hunter to select ... So you are competing only with foriegn talent you are also competing with the lao qiao from locals ...

I was too retrenched mid of last year... but thank god i got a job a month later due to my customer based otherwise I got to sell backside .... even sell backside also got china girls competing....

[alanseah]

lolz...

yes for those of us who r working willhave connections.. but those who r fresh out from sch dont have the chance...

And this will mean alot of trouble down the road...

[surfedelic]

That is why some parent damn kiasu ....... A friend of mime sent their 2 kids to SICC to play golf .... their kid only 20 year old .......he spent quite alot on the membership ... not sure whether his kid can get the connections or not .... if not the most end up as part time caddie .....

and another join dont know wat ...PAP youth group so that his kid not so siong in the army ..........

[riot]

I figure that your paper qualifications will get you that first job, the rest is really up to you. So education IS important. it gives you a leg up on that corporate ladder.

Besides, I doubt anyone has enough capital to start a biz on day one they drop out from school. They will still need to be a salaried rat for a while, serving the whims and fancies of their paymaster until they have enough capital for their start up. If education means you get a higher pay and allows you to be your own boss faster, why not?

[riot]

Earning and Owning is different, me earn 5 digit a month, if u r talking about saving every month short fall.

Dude,

a 5 figure salary is extremely comfortable in Singapore. Hell you might not be able to burn money, but thats pretty solid financial security.

[RAV-65]

My personal opinion is dat hard work plays a big part too! have seen many people who never study much, but can make a decent living and drive a decent car... Den there are those who study like hell, yet the pay mediocre...

[Chris]

Without education, you could be in the top 1% earners category or the bottom 1% cat. With education, you will not be either but somewhere between.

It's a choice. Where do you aspire to be at?

I never regretted studying. Allows me to talk more nonsense!

[moron_clown]

my dad had 80 shops and almost 1,000 workers under his belt during his prime,and he did not complete his primary school....

[Tanzy]

my dad had 80 shops and almost 1,000 workers under his belt during his prime,and he did not complete his primary school....

So do you think your father is rich?

[moron_clown]

So do you think your father is rich?

used to,but not now since i have seen lotsa even richer people now....

[Tanzy]

Looks like a never ending problem, this rich thing. I guess you will be as rich as you define it to be.

[minsmarine]

Rich ?

Defination of Rich is depended on the person's viewing.

For my defination for rich is

I will have whatever I want without worrying so much about where I will have enough cash flow or not. Ofcourse, don't ever dream like when ur pay is only 4 digits and thinking of owning your own private jet. May be 4' reef tank YESSSSS.

Most important thing is your mindset. As long as you are clear and happy with what u have , that's HEAVEN

So guys what is your defination of RICH.

[Zero Oxygen]

to be able to do things / buy things that i want without much financial worries.

to be able to provide my wellspring with whatever comfort they ask for as they put in much effort to raise me up.

to be able to provide my offspring with all education / equipments required without any financial worries