Recently, the Tennessee-based financial consultancy firm Ramsey Solutions conducted a study of 10,000 millionaires and found that a whopping 88% of them graduated from college – 52% with a master's degree. This compares with only 38% and 13% of the general population respectively.
According to a report in Spears Magazine, which ranked the Top 100 universities in the world, Harvard University produces more graduates who go on to become millionaires than any other school in the world.
Interestingly, Harvard Business School and Stanford University came second and third, while in Australia, six institutions featured in the Top 100. Most notably, the University of New South Wales (33rd), Sydney University (44th) and Melbourne University (46).
So why do you have a greater likelihood of being a millionaire if you attended any one of these financial institutions? Many experts believe that it is due to graduates drawing upon the benefits of integrating advanced education with personal financial planning.
Undoubtedly, to be financially successful today, you need to have a lot more going for you than just earning a good salary. You also require a solid understanding of financial principles, informed decision-making skills and a nous for strategic planning.
In this post, we will examine the symbiotic relationship between advanced education and personal financial planning, highlighting seven key benefits that arise from their integration.Â