Message from the President

A lot has been said about workforce training and development and how in-demand skills or higher level job proficiency can lead to a higher income and better standard of living. So, I was fascinated while listening to a video of The Ramsey Show where the hosts discussed professions that led to “millionaire” status. The show conducted research on over 10,000 millionaires and found that the top career fields were engineers, accountants, teachers, managers, attorneys, and sixth was medical doctors.

Wait a minute. Teachers? Yes. The study revealed that it’s not just income that matters, it’s how you manage your life and finances over a long period of time that truly matters. Another interesting data point from the study was that each of these professions are dependent upon systems— building plans, a lesson plan, accounting rules, the legal system. There is a rhythm, a process, and a discipline that comes with different work and some of those habits, exercised over decades on the job, leads to wealth creation. Many people take those same lifelong work habits and personal tendencies and apply those to their personal life. The message is simple: sometimes it’s not just how much you make, but how much you keep, save, and invest.

As we upskill and train people for new or higher wage opportunities, it might be wise to help them understand financial literacy, money management, and how to build wealth for later in life. Many people could benefit from learning more about saving, investing, and budgeting. Debates often focus a lot on wages, income, and salaries— and that’s important. Equally or as this study proves, maybe more important is what you do with your hardearned income.