How to Invest and Build Wealth Without College

Posted by CapWay in InvestingAugust 8, 2022(Last Updated November 24, 2022)4 min read
Key Takeaways
  • For many young adults, parents emphasized the importance of receiving a college education when wanting to obtain a high-paying job. 
  • Although there is a correlation between higher education and higher pay, going to college is not for everyone, and it is possible to receive a high-paying job.
  • To become successful without going to college, the most vital thing that needs to be done is to develop specialized skills within the industry you desire to work in.
Are you ready to make some real money moves?

Growing up, many parents emphasized getting a college degree after graduating high school. The reason is that most parents believe a college degree improves their child's chances of landing a high-paying job and beginning their wealth-building journey. 


Although there is a correlation between the level of education and the compensation a person receives, college is not the only option for building wealth and becoming successful. For example, some of the wealthiest people in the world did not graduate from college, yet they defied the odds and became highly successful.

Successful College Dropouts


Some of the most recognizable companies, such as Apple, Microsoft, and Facebook, were all created by college dropouts who became successful. The founders of these known companies, including infamous founders like Steve Jobs, Bill Gates, and Mark Zuckerberg, stopped pursuing their college degrees because they felt they could use their time more effectively on other things.

Due to their leap of faith, they were able to build businesses that are known in the United States and worldwide.

What to Spend Your Time On


Of the billionaires mentioned, part of their success has been due to their dedication to their craft. Using that as a blueprint, determining what and how to spend your time can be a game changer for your career goals. However, it can be challenging to decide what to do with most of your time, especially since before, the bulk of your time was spent completing academic assessments. 


Develop Specialized Skills

Specialized skills that you learn can help you secure a steady income now and in the future.

College aims to help people gain skills and knowledge to secure a higher-paying salary for the rest of their working lives. However, you can still learn a skill if you decide not to attend a traditional college or university. 

Instead, consider fields where training or certificate programs will help you increase your income. For example, tech is a great space that doesn't require a degree for many available jobs. A plus is that if you decide to pursue school later, you may be in a better position to have your employer help you pay for your tuition.

Employers pay higher for more specialized skills and knowledge. There is no point in working harder for less money. You deserve to get paid appropriately for the expertise you bring to the table.


Write Down Your Goals


Most people who attend college have a long-term goal in mind and are taking classes in an industry they are interested in working. Similarly, writing down your goals to know what you are working towards and not get sidetracked is important. 

What to do With Your Money

If you skip college, you skip out on one of the most significant financial burdens holding back millennials — student loans. But remember, just because you may not have to take out any student loans, stay cautious of taking out any debt. When you begin making money from the skills you acquired, here are some things to look out for when using your money that could negatively impact your financial position.

Beware of High-Interest Rates


High-interest debt hurts your pockets because it's expensive, and it takes longer and more money to pay off the high-interest debt. Therefore, when you use your credit cards to purchase items, it is important to make sure that you only buy things that can be paid off within one month.

If you fail to do so, your credit score could decrease, which could have repercussions when you need a financial institution to give you a loan for a mortgage. 

Save Money in an Emergency Savings Fund

One of the most common money mistakes people make is not putting funds aside for a rainy day. When beginning to make money, setting aside a portion of your income is essential for when an emergency occurs. The money in your emergency fund should equal three to six months' worth of living expenses, allowing you to pay for your living expenses in times of an emergency. 

Image Credit: Vitalii Vodolazskyi /

Invest Your Money


Albert Einstein once said, "Compound interest is the eighth wonder of the world." Keeping most of your money in a bank account is not good since there is inflation. Thus, constant inflation will make money in your bank account worth less over a long time. 


However, by investing in the stock market, due to compound interest, over a prolonged period, your money will be worth exponentially more than what it would have been if it remained in a bank account. Therefore, investing in various ways, such as the stock marketreal estate, and government securities, is crucial. These investments, over time, will help improve your financial status and provide generational wealth. 


The Money Wrap-Up


It has been proven that there are other options to becoming successful than attending college. Though pursuing higher education helps develop crucial skills and land more traditional, prestigious positions, this educational path is not suitable for everyone. Regardless of a person's academic course, as long as they put their mind toward their goal, they will become successful. 


Main Image Credit: enciktepstudio /

Was this content helpful?
Comments (0)

Sign In to leave a comment.

Download the CapWay App

Access more features to your Money Account

  • Money Goals
  • Request Money
  • Categorize Spending
  • Money Talk

The CapWay, Inc Debit Visa Card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Visa U.S.A. Inc. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank ©2014.

1. For Money Account holders with a negative balance, the CapWay debit card will go into freeze until funds are deposited to bring account back to current. See terms and conditions

2. Sending or receiving money from other CapWay account holders will be instant. Transfers from other accounts could take up to 48 hours, depending on the financial institution.

3. Early access to funds requires direct deposit. Early payment is not guaranteed and is dependent on the timing of payer's submission of deposits. We generally post such deposits on the day they are received which may be up to 2 days earlier than the payer's scheduled payment date.

4. Money Goals allows account holders to save money towards financial goals created within the CapWay platform. Funds can be transferred from your Money Account or saved through the rounding up of your transactions from purchases.

5. CapWay offers financial content through Learn Money free of charge, but may include advertisements through affiliates. Phunds, CapWay's literacy program and session, is paid content or co-branded content.

© 2019-2023 CapWay Inc. All Rights Reserved.