An interesting piece from Bloomberg notes –
“Education "is important, but it's not
the whole story," Emmons, a senior economic adviser at the St. Louis Fed,
said in an interview. "You can't
simply send everyone to college and expect to solve all the social problems
that we have, including problems in the job market."
Family background,
such as your parents' social class, occupation, education and income, also has
a hand in wealth-building, Emmons and Noeth found. Wellness can play a role
because people who are fit can work longer and incur fewer health-care expenses
in retirement. There is also what sociologists call ``assortative mating,'' or
the tendency of highly educated people to marry each other.”
Related:
Federal Reserve Bank of St. Louis Report – The Demographics of Wealth
https://www.stlouisfed.org/~/media/Files/PDFs/HFS/essays/HFS-Essay-2-2015-Education-and-Wealth.pdf