Monday, June 17, 2024

What do rich people study? ? To make money, you need specialized knowledge, not general knowledge! ?

Hello. I'm Watanabe Tenmei from Seito Medical School Clear File. This time, I'm rewriting an article titled "Read materials to give form to ideas rather than study for the sake of studying. by Nada 20231002".


When you think of studying, what comes to your mind? I think many people would say that studying means reading textbooks and solving problems. I myself was the same way until a few years ago, when I thought of studying, I would just read books that interested me.


As I wrote in my previous article before rewriting, I now study materials to put my ideas into shape. Until now, I would have wasted a lot of time trying to gain knowledge that I didn't know if I would ever use.


So-called trivia is knowledge that can become a topic of conversation just by knowing it, but I was wasting my time memorizing a large amount of useless knowledge that I couldn't even talk about. If you don't forget the knowledge you've learned, even just having it as trivia is valuable in the sense that you will use it someday, but I tend to forget knowledge whenever I have the chance to remember it, so my ship of salvation sank along with the Titanic.


In a previous article, I wrote that in addition to reading reference books on subjects you are studying for the first time, if you first take a look at Wikipedia at least once, it will help you understand the overall picture of the subject, and it will be a good preparation that will not be wasted.


In my case, if I study economics, I look for knowledge that can be used to reinforce the price formula I created. Furthermore, in medicine, I read specialized books with an awareness of the autonomic nervous system, aiming to divide illnesses into sympathetic and parasympathetic nervous systems.


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I would like to say one thing to people who are about to start studying: studying is based on the law of compound interest. The more you study, the greater your future growth can be expected. For that reason, studying too much or too little is not good. Too much studying can lead to burnout, and too little studying leaves little room for growth.


If you start studying and continue studying for 16 years, you can earn 1 billion yen in 16 years, but will you be able to keep working hard and not give up? Most students study for 12 years, spending 6 years in elementary school, 3 years in junior high school, and 3 years in high school. If you go on to university, it's a 4-year course, so you can see that you will continue studying for a total of 16 years until you graduate straight away.


However, in Japan, most college graduates can earn around 300 million yen in lifetime salary, while only a handful can earn 1 billion yen in lifetime assets. In other words, as long as you stay on track with the content you learn in school, you are guaranteed a lifetime salary of 300 million yen, but it is clear that it is quite difficult to earn more than that.


So how can you earn 1 billion yen in assets? If you want to earn 1 billion yen, the most important thing is to study. Many people may feel resistant to the word "study," so you can just say "learning." This is also lifelong learning, and the content of what you learn is also important.


Being studious is not necessarily rich, but being rich is being studious. If you want to earn as much as the wealthy, you just need to study the same things they study. To become wealthy, you need to think of a new business model and study what is necessary for that business.


Ideally, it would be best if you could do everything related to management by yourself. If you are self-employed and have only one employee, and you can handle everything from sales to accounting and legal affairs by yourself, there would be no problem. However, there is a finite amount of time in a day. There are only 24 hours in a day, so as your business grows, you will need to pay someone to help you.


The knowledge you need to know by then is the knowledge you need to become wealthy. The wealthy often use their knowledge of taxes to save on taxes. Of course, it is common for the wealthy to pay tax accountants to help them save on taxes, but I think it is important for the wealthy themselves to have some knowledge of taxes and laws.


The knowledge I gained at school was to gain culture. Culture is necessary when chatting as a businessman, but I don't think you can make money with culture alone. Culture, for example, knowledge of art and history, is good to have, but even if you don't, you can still make money and live.


At school, students learn general education up until high school, and then move on to specialized courses in their second year of university. In other words, 13 years of school education is spent learning general education, and then it's only in the three years of university that students can finally receive specialized education that will be useful in society. This is why people say that school studies are useless.


So, is general education necessary? Well, general education is the foundation of specialized education. In order to smoothly move on to specialized courses, you need to acquire sufficient knowledge in general education courses. In other words, your time as a student is about building a foundation, and if you study hard, it will become a solid foundation.


On top of that, by mastering specialized education such as that taught at university or graduate school, you can finally say that you are "prepared" to earn money. Earning money is not an easy thing to do, and you will encounter the phenomenon that the rich get richer and the poor get poorer.


People who have made money once can recreate the method of making money, so the better they are at it, the more likely they are to make a lot of money again even if they become penniless. In other words, while studying at school is important for getting an academic background such as graduating from high school or college, learning after entering the workforce is for the purpose of earning money.


If you want to become wealthy quickly, all you have to do is come up with ideas. You can create hit products by coming up with ideas and combinations that no one has ever thought of before. If you get a hit, it's not a dream to make hundreds of millions of yen, and since most people are in a state of mind where they can't think when it comes to coming up with ideas, it's a battle with a few rivals, and you have a good chance of succeeding.


If you want to make money, keep learning throughout your life. As a doctor or programmer, part of your job is to continue learning throughout your life, but if you continue to learn professionally even after you become an adult and use your imagination to come up with ideas, it shouldn't be difficult to earn 1 billion yen.


If you want to make money, make friends with wealthy people and ask them what they usually do. What kind of books do they read and what kind of experiences do they pay for? Your own annual income should be the average of the 10 people around you. By learning and thinking like the wealthy, becoming wealthy is not a dream. That's all. Thank you for listening. Well then.

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