The relationship between education and income is strong. Education is often referred to as an investment in human capital. People invest in human capital for similar reasons people invest in financial assets, including to make money. In general, those with more education earn higher incomes (see the table).
People who educate themselves about personal finances are much more likely to become wealthy. This is often because we can learn basic facts like how easy it is to build wealth if we do it slowly, and avoid some of the obvious pitfalls regardless of how much we earn. Yet it is no guarantee.
Everything else being equal, higher family wealth is associated with higher college attainment rate; the fact that the highest quintile is accumulating more wealth would lead to higher college attainment among children who grew up in wealthy families. ... Growing Wealth Gaps in Education.
College-educated workers enjoy a substantial earnings premium. On an annual basis, bachelor's degree holders earn about $32,000 more than those whose highest degree is a high school diploma. The earnings gap between college graduates and those with less education continues to widen.
From all that, I'd have to say that education is more important than wealth. Wealth allows you to buy what you “want”, but education allows you to better understand what you “need” to live a better quality life as evidenced by the many benefits you can get from an education that money can't buy.
The Effects of Poverty on Education
Poverty reduces a child's readiness for school because it leads to poor physical health and motor skills, diminishes a child's ability to concentrate and remember information, and reduces attentiveness, curiosity and motivation.
It helps people become better citizens, get a better-paid job, shows the difference between good and bad. Education shows us the importance of hard work and, at the same time, helps us grow and develop. Thus, we are able to shape a better society to live in by knowing and respecting rights, laws, and regulations.
Wealth inequality in the United States, also known as the wealth gap, is the unequal distribution of assets among residents of the United States. Wealth commonly includes the values of any homes, automobiles, personal valuables, businesses, savings, and investments, as well as any associated debts.
A higher education allows you to pursue a career that interests and inspires you. When you have the freedom to choose your career, you're more likely to enjoy it. Higher job satisfaction also comes from higher income, better employment benefits, and more advancement opportunities.
No surprise—people with more education often earn higher incomes and are unemployed less than those with less education. Those with higher incomes also tend to accumulate more wealth. Why? Research shows that well-educated people tend to make financial decisions that help build wealth.
Money can buy an object, but not the thought process (knowledge) that went into creating that object. Hence, knowledge is superior. It is better to be looked up to as a "knowledgeable person" rather than a "rich person". ... With knowledge one can acquire money, but money alone will not help in acquiring knowledge.
WEALTH IS POWER
Wealth gives us more options than we would have if we did not have wealth. Wealth is the power to turn goals into reality. It has the depth of possibility, opens up the world and has the power to enrich our lives and the lives of others around us, if used responsibly.
Schooling resources that cost money are positively associated with student outcomes. These include smaller class sizes, additional instructional supports, early childhood programs, and more competitive teacher compensation, which permits schools and districts to recruit and retain a higher quality teacher workforce.
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