Do I need to become super – learner to become rich
How to learn to become rich is so crucial to crack, because it is absolutely essential for us growth lovers.
What is the correlation between education as such and becoming wealthy?
Epictetus once said: “If you want to become a writer. Write.”
If your no. #1 goal right now is to become rich, than the best education you can get is the one in becoming rich. There are patterns as well that you can learn to follow. Gather the information that works in the long – run and apply it into practice.
In this measure you need to pick an education that pays you good income. You then sacrifice the short – term pleasures for long – term profits, study medicine school to become a doctor to make $250k per year. What they say next is that you live frugally just like a student for next 30 years. You do not buy your first BMW even if you could have afforded it.
Maximize 401k, buy a rental property, pick good stocks or more reasonably exchange traded funds. Lay down at least $500 per month, forget that money and let them work.
This is education of money – let’s call it.
I am not here to tell you the education of money. I am here to tell you how to learn so you might get rich secondarily. Basically, to boost your income.
Still confused? Learning how to get rich is self standing discipline like accounting. That’s what I called education of money. I am aiming for learning methodology that can get you get rich by boosting your income mostly. What you do with that money is your responsibility.
I am speaking about how to learn to become rich in any field in this universe you heart chooses. You learn how to learn properly and it’s almost impossible not to end up in high income zone. That’s the strong predisposition. Of course, with high income comes responsibility and you need to get a proper education of money. My parents were both top – earners, but they never known what to do with that money.
But, as mentioned this article is not about education of money, but how to learn to be more valuable. It’s the harder part of it. The correlation between becoming rich and education as such deserves further consideration.
On Education & Leverage
Is higher education proportional to being rich? Formal education still pays. I found this table from Bureau of labor statistics.
We can read from it that on a larger scale a degree still pays off. However, further analysis would be required with at least two inputs. If a degree pays off, how much does it cost to reach such earnings – and this does not include only tuition fees for a particular college, but also other necessary professional learning including all costs like transport and other externalities. And how long does it take on average to reach presented levels of earnings. But, let’s leave it like that. Let’s say higher formal education leaves you with a higher wage, if other factors are plausible. By other factors I mean good local economy, geography and etc.
But, rich people do not think formal education is critical to success. Rich like millionaires. They say, the masses are convinced that master’s degrees and doctorates are the way to wealth, mostly because they are trapped in the linear line of thought that holds them back from higher levels of consciousness … The wealthy aren’t interested in the means, only the end.
So, how to learn to become rich? From this end it looks like you should not ditch higher formal education just yet. But, obviously there is more to it.
While average people think the road to riches is paved with higher education, rich people believe in acquiring, and continually seeking out, specific knowledge.
Successful men and women, in all callings, never stop acquiring specialized knowledge related to their major purpose, business, or profession.
That means that your education has to be practical. It is what gives you edge in your profession.
I proposed results – oriented learning plan. That is the one that starts from clearly defined scope and you work your way up by acquiring skills that are necessary to fulfill this scope.
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Malcolm Knowles summarized the points of adult learner that are tranquilizing the knowledge – hungry souls as well as entrepreneurial spirits. You can check them out in the video.
Another thing that determines how rich you become is leverage.
Leverage is not so discussed in topics concerning wealth. It should be though, because it’s the substantial thing. I remember when I first signed to James Altucher’s mailing list and suddenly the doors of idea economy opened to me.
James was just ranting in his copies about the crucial importance of ideas. How they drive the economy and how we need entrepreneurs to create and nurture ideas. He made it very clear that in the age of internet you find a skilled person for everything. You don’t need to learn to code if you have a blast app idea. And blessed and true heroes of new era are risk – taking entrepreneurs who nurture their vision, they don’t do the whole thing. Nevertheless, you can’t do the whole thing alone and you need to use other people’s capacities and skills.
However, even James Altucher once started as a coder and he was doing websites on the side. In another words he had the skills and he was selling them, before he became so concerned about ideas part of a business. Nowadays, he’s probably not coding his applications on his network anymore, but he does do other work, that he enjoys doing – writing.
But, back to leverage. It’s the biggest income differentiation point out there. Why do CEOs make 100 times more than regular employees? Because they use them. They are responsible for the business, but more importantly they decide upon all the skills and talents their employees have. It’s up to them to help them flourish and use them to produce business results.
Your paycheck is also largely determined by how well are you orientating yourself in cash-flow quadrant.
I think this is well – known for lot of people and does not need further explanation. If you want to have higher or more passive income you are better be leveraging other people’s talents or use automated systems. Automated systems is the topic for itself. Let’s get back to learning.
How to learn to become rich – Bloom’s Taxonomy to help
So, now that the education of money is taken care of, let’s look at the learning methodology that makes us top – earners.
I do not need to tell you how the economy has been changing itself and that the future top performers are the workers who gather new information quickly and are able to use this information to acquire knowledge.
Ever heard of Bloom’s taxonomy?
At its very least, though fundamental stands remembering. No company is going to pay you big bucks for recalling , duplicating, memorizing or repeating facts. But, it’s essential to have a good memory to climb Bloom’s taxonomy ladder and to climb the paycheck of course. I have said this numerous times – adult learner should learn to higher up her or his paycheck.
Do you want a better memory? It’s just a practice, not so much genetics. Check out couple of these techniques – List of memorization techniques.
How to learn to become rich?
A man’s worth is no greater than his ambitions. <Marcus Aurelius>
If you want to have a good paycheck you need to be able to apply the information quickly. Use information in new situations. You learn the new tool in IT sector and you use it immediately. Read about the new technique in time management and you are ready to implement it in your daily schedule. This is how good performers execute. They can gather information like superlearners, had they wanted to, and they can immediately use this information to create wealth. I think you can get away with that just fine. If your goal is not to become part of top 1%.
Is top 1% your goal ?
Do you want to be the member of top 1%? You probably do not need to in order to be happy. According to this study, it’s necessary to have about $75 000 in the U.S. to be be happy on the money side of things. Of course we need more than money in order to be happy. But, this is not my topic here, and I am assuming here you want to be in the top 1% of earners. In the U.S. in varies, but let’s say good average is around $350 000.
And if we take Bloom’s taxonomy to help again, we can assume that you would need to be on top levels of the pyramid. Companies or your customers are going to pay you top level money for your learning that is connected with:
If you can differentiate grain from chaff – you get to be paid a lump sum of money. Information is a commodity. It needs to be organized, related, compared, tested and experimented with. With good analytical thinking you can make it far. Software engineers are making more than coders, because software engineers are designers and analysts of the application. They are not just learning information and applying it, they distinguish and question all the necessary aspects of application functioning.
By recognizing patterns that you have learnt in a specific branch you build an evaluating capacity that is making you more valuable. This is a natural opening from being able to draw connections between and among ideas.
Many academicians have this high level of evaluation learning, that is able to criticize, value or support existing knowledge.
And there are creators – inventors, top entrepreneurs, game changers. These are the people who form new academics or new industries.
How to learn to become rich – what did we learn
If your goal is to become rich, you should write this down like a spelling book:
- Whatever your profession – you need to learn all your life, when you want to be top – earner
- Rich people believe in acquiring, and continually seeking out, specific knowledge – what you learn can apply to your field
- Besides continuous learning in your field, you need to learn the independent discipline – acquiring education of money (investing, living frugally and etc.)
- It is still good to obtain formal education (degrees) it seems. But, you probably know me that I am against the monopoly power of traditional education. I would rather see a transformation of formal education to special lyceums, and left all the rest to practical knowledge nurtured by entrepreneurial universities.
- Think about analytical,evaluation and creative part of education. These stand on the highest level of cognition and are therefore more valued.
- Getting rich is a complex thing not a science.
With this last point I want to end this article. Although we may have seen that there are patterns that are helpful for getting rich, this is simply not an exact science.
You and I have seen primitive people gone rich. Sometimes very primitive ideas beat up market. Well, it’s simply just that. Fulfilling the needs and desires of human beings. If you can offer something good at the specific time and there’s market for it, then you are rewarded, that’s all.
So, I did not want to make it sound that through education only you can get rich. Someone could argue that it has nothing to do with it. But keeping and managing portfolio of money also requires some education that is necessary, so sooner or later you have to get educated on money.
Making yourself more valuable on the job market is more the question of specialized, applicable knowledge.
That’s the learning that you acquire according to needs of your orientation. With your scope statement, focused on results, with decomposed skills that you need. With some project management skills.
I believe this this course can give you a nice overview as well as to teach you some super – learning techniques.
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