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This is spot on. Education is what allows one generation to rise in social / financial class and status. That is why many parents who have aspirations for their children to have a better lot in life invest heavily in education.

Sure, I stand corrected and will rephrase. New grad professionals in certain fields will begin close to 100k.

Agreed. So it is important to choose what you study at university. Arts / commerce degrees are probably not that worthwhile. But law, engineering, medical and actuarial degrees probably are. You should not spend years at uni for the sake of being there. You should do something at uni that will...

100k p.a. is where it begins for many professionals straight out of university. Where it ends up is what matters. http://www.smh.com.au/federal-politics/political-opinion/surgeons-finance-dealers-mining-engineers-hardest-hit-in-new-tax-20140429-zr1el.html The vast majority of investors...

I agree that the ultrawealthy are often without formal education. However, these are the sheer minority. For the "average" person without entrepeneurial flair/ business sense/ drive , the easiest and surest way to millionaire status - not billiionaire nor extreme wealth - is via a degree that...

I dont think that 1 m investible cash with no other supporting income would generate 100-150k per year for retirees in australia. Given that interest rates are lower in usa than in australia, it would be closer to 20-30k per year.

It seems like education is probably the surest path to wealth according to this and other studies. I am also surprised to note that 3 percent of households have net worths over 5 mil. This is a big number considering that the american population is over 300 million people. In Australia, 5...