All of us have been taught, “Go to school, get good grades so you can find a job, make a lot of money and be successful.” A lot of us college kids always joke that a lot of successful people either didn’t go to college or dropped out and sometimes that can be the key. Some people are highly educated and they love what they do and that’s great. Some people don’t want to go to school, but they can be a great student at something else. Greg Duncan, an entrepreneur since 1981, has created wealth and not by doing the standard process we are taught, he has built an asset with longevity that has created a phenomenal lifestyle for him and his family. Wealthy people aren’t any better than us they just have access to better information. I’m not saying everyone wants to be wealthy, but shouldn’t we at least learn that creating wealth or not having a conventional job is an option?
Every year from kindergarten to senior year of high school we learn; Math, science, English, social studies,some form of art or music, physical education and possibly other courses that interest us. Not one of those classes was on success or learning how to impact lives. I learned how other people impacted lives, but never how I could do it. I was taught how to be like 95 percent of the world and work for someone else or have a small business. The reason we aren’t taught these things is because educators haven’t experienced success or how we can get to a person who has. One of my mentors told me, “If you make money by helping other people make money you’ll never worry about money.” Considering he has been financially retired since he was 21 years old I believe him. His parents did the same thing and his father was financially independent by the age of 24.
I’m now learning from my mentor about proper budgeting, taxes and debt. We’re taught in school to take your money, put it in the bank and live within your means. I’ve been taught to take the money I make, give some away, pay my bills, invest in my asset and save a little for an emergency fund. I’m learning how money works and how to spend and invest it properly from people who have already done it.
When was the last time someone actually sat down with you and told you how taxes actually work? For me, that was about two weeks ago. I spent thirteen years in public school and two years at Old Dominion and not once was I told how taxes work and how to pay them. We’re taught how to solve for X not X amount of dollars in your bank account.
One of my mentors was $20,000 in credit card debt after going out on a music tour for three years. He eliminated that debt and was able to retire within one year. He learned how debt worked and how to eliminate it. He never went to college so it’s not like he learned it there. He had a 1.69 GPA his freshman year of high school, he went to summer school and was kicked out of school three times before the eighth grade… He obviously didn’t like school because he wasn’t learning things that deemed importance.
I’m not knocking education, but know why you want to do something not just what you want to do. We ask 18 year olds what they want to do. Really? How about, drink, drive fast cars and chase girls, does that pay a lot? I’ll tell you right now, no! We focus so much on what we want to do rather than why do it. We need to reevaluate education and if we pursue it what do we want to get out of it and why are we going after it. All I’m saying is that before you think more and more school is the answer just think about why you want to do something and what you are actually going to achieve.