Good points.
Ben Franklin once said, “If a man empties his purse into his head, no one can take it from him. An investment in knowledge always pays the highest return.”
It didn’t really work that well for me. Still broke much of my life.
Wealth is mostly a generational concept. Anything that you know how to do, you should be teaching your children. There is a lot of money in basic skills.
For example, if you learned how to kitchen prep to save time on making meals and you keep the kitchen organized and you have everything laid out so you can save time. Even if you can knock off 15 minutes in time as to what it takes to prepare a meal, that’s about $100,000 in terms of time over a lifetime that could be worth to you in additional income if you use that time to generate an income.
One of the advices I tell young people, if you don’t know what to do with your life, go into those low paying jobs to learn skills that you can take with you. Spend your first 2 years moving from job to job. You’re not in these jobs to earn an income, so learn the skills that are useful and move on. In those two years, if you are productive, you probably will have mastered hundreds of thousands of dollars in skills that you can pass on to your children.