summary ofThe Education of MillionairesBook by Michael Ellsberg

first KEY POINT

There is hardly a relationship between academic excellence and career or life success

There was a time when you were guaranteed a successful life as long as you worked hard in school, got a job, and worked your way up through middle management. The game has changed. While you need certification for some professions, such as law or medicine, most of the jobs out there do not need formal credentials for you to do them. Formal education is fast becoming a myth. Practical skills are the way to go these days. Teachers don't teach us these skills in school. You have to pick them up independently.

College is helpful because it will train you to be open-minded, develop critical thinking skills, and expose you to new perspectives and ideas. You will revel in the world's famous authors' intellectual, academic, and cultural heritage. However, here your focus will be more on theory rather than practice. You learn how a bicycle is built and all about its elements, but you have to learn to ride yourself.Company pensions and job security are concepts that are fading away. These days, when you place an ad for small odd jobs, you'll get a river of Bachelor's degree holders applying for it. The old rules for achieving professional success no longer work. But is a college degree crucial for professional success? And what is the meaning of self-education for your career? How to find reliable mentors?Here you will find answers to these questions and practical advice that can help you take advantage of the myriad opportunities to succeed.