College is Good for Getting a Job but Not Necessarily for Getting Rich Of the 400 wealthiest people in America, 27 have only a high school degree and 36 dropped out of college.

By Grant Cardone

Opinions expressed by Entrepreneur contributors are their own.

stevepb | Pixabay

I went to McNeese State University. I promise you I'm not where I am today financially because of the formal education I received. Going to college is a path to the middle class -- not to becoming a millionaire or even a billionaire.

Highest level of education completed by the 400 richest Americans (as listed by Forbes) 2012.

This graph shows a break down of the highest level of education achieved by Forbes 400 wealthiest Americans as listed in 2012. 27 of those who make the list of America's billionaires held a high school degree as their highest level of education and had never been to college.

Amongst the most famous college dropouts turned billionaire entrepreneurs on the list are of course Mark Zuckerberg, Bill Gates and Sean Parker.

Related: The 12 Skills Every Millionaire Must Have

While it's true that many of the super rich did go to college, was their education the reason they got so rich?

Related: Most Grads Say College Taught Them Few Critical Thinking Skills

I wish I would have gone to Harvard -- for the connections, not for the education. I also wish I would have paid more attention when I was going to college. Unfortunately for me -- and so many others -- I had no direction on why I was there and had no purpose for what I was learning, so I left my university with a piece of paper, debt and no idea about my future and very few skills.

Successful people don't value effort or time spent on an activity; they value the results. If college gave you great results, then that's great. I know many people leave school wondering why they went into massive debt while they are still unable to land a decent job.

If the goal of college is to be financially secure, then it is failing miserably.

The problem is not in education, but the approach. When you approach an education you must think about skills, not just information or knowledge. Only 27 percent of college graduates are even working in the field they studied. One of the reasons you should study is to gain skills. The only things you can use every day to bring more value to the marketplace are your skills.

There are 28 million small businesses in America where almost two-thirds of them break even or lose money. Most businesses are not making it because of a lack of skills --not a lack of educated workers. We live in an age when knowledge and information is available everywhere, so what's missing? Skills!

Related: Gary Vaynerchuk and Casey Neistat Use These Skills the Most

We need more skilled people, not more educated people. We need motivated workers -- and motivation comes from having skills. Great entrepreneurs, salespeople, and successful people that get results aren't born great. They are educated, motivated and trained to be where they are at.

Skills that result in you having an increased value in the marketplace is the reason I created Cardone University, where you get access to the best information available for growing your business, handling customers, marketing to grow your brand, and how to follow-up your customers to you dominate your market.

All of this is delivered to you on demand for less than the cost of books at any university. I also know that between college and Cardone University, one has a much higher ROI.

Skill up!

Wavy Line
Grant Cardone

International Sales Expert & $1.78B Real Estate Fund Manager

Grant Cardone is an internationally-renowned speaker on sales, leadership, real-estate investing, entrepreneurship and finance whose five privately held companies have annual revenues exceeding $300 million.

Editor's Pick

She's Been Coding Since Age 7 and Presented Her Life-Saving App to Tim Cook Last Year. Now 17, She's on Track to Solve Even Bigger Problems.
Lock
I Helped Grow 4 Unicorns Over 10 Years That Generated $18 Billion in Online Revenues. Here's What I've Learned.
Lock
Want to Break Bad Habits and Supercharge Your Business? Use This Technique.
Lock
Don't Have Any Clients But Need Customer Testimonials? Follow These 3 Tricks To Boost Your Rep.
Why Are Some Wines More Expensive Than Others? A Top Winemaker Gives a Full-Bodied Explanation.

Related Topics

Business News

'All Hell Is Going to Break Loose': Barbara Corcoran Issues Warning About Real Estate Market, Interest Rates

The "Shark Tank" star appeared on FOX Business' "The Claman Countdown" this week.

Money & Finance

3 Ways to Create Multiple (Big) Streams of Income

Here are three ways to create multiple streams of income. These strategies require effort and resources but offer significant financial potential.

Branding

How I Made Money From My Book Without Selling a Single Copy

Did you know you can make money with a book without selling copies? Here's exactly how I did it.

Science & Technology

How Deepfake Tech Could Affect the Journalism Industry

Deepfake technology adds another layer to navigate for journalists, which, if used ethically, could pave the way for new forms of storytelling.

Leadership

The Real Reason Why The Return to Office Movement is Failing is Revealed in New Study

There is a vivid sign of the disconnect between employees and their workplace, a glaring indication that companies need to revise their scripts to improve their hybrid and remote work policies.

Business News

Money Stored in Venmo, Other Payment Apps May Not Be 'Safe' in Event of Financial Crisis, Gov Warns

The Consumer Financial Protection Bureau is warning customers that money kept in popular payment apps is not protected in the same manner as banks.