Short excerpt from a YouTube talk arguing that formal schooling and high-paying careers (e.g., doctors) often omit practical financial education. The speaker emphasizes the difference between income and wealth, listing missing concepts (investing, dividends, cash flow) and asserting wealthy people behave differently with money.
Chapters
Go to school, get good grades, get a good high paying job, you miss out on a lot of financial education opportunities. There's nothing wrong with being a doctor, nothing wrong with getting a good profession or career. But there is something wrong when you don't learn a thing about financial education because, well, a lot of doctors end up broke. And you might not think so because you think, oh, they're making a lot of money. But just because you make a lot of money doesn't mean you're going to make a lot of wealth. And that was the key thing that I realized that there's a difference between financial education and the school education that we're taught. There was such a lack of, of what is investing, what is dividends, what is cash flow, what is wealth? I've never heard of these things before. And if you don't learn that in your home, if you don't learn that in school, where are you going to learn it? Wealthy people are doing something completely different. And it's not just your grades, it's not just your job, it's what you do with the money that you make.