While waiting at the pharmacy in a large supermarket recently, I saw 5 or 6 young pharmacists working very hard filling prescriptions, taking orders, and consulting with customers. Yes it is hard work, but they are very well paid (nearly twice the median income of an American household). Typically these pharmacists spent 5 years in a very demanding pharmacy curriculum in college. In their case college taught them how to make a fine income. But, as I said in my list of wealth building commandments, college does not teach people how to build enough wealth to become financially independent. In America, based on my numbers, it is much easier to generate a good to great income than it is to accumulate significant wealth.
I thought to myself it is likely that in 30 to 40 years these pharmacists will have filled countless numbers of prescriptions and generated millions of dollars each in income. Yet they may very well end up being members of the income statement affluent, i.e. high income, low net worth.
However I was encouraged last week when I read a review of The Millionaire Next Door written by the mother of a pharmacy school student. She was kind in assigning the book a 5 star rating but it was even more rewarding to read:
This book [The Millionaire Next Door] is required reading for my son’s pharmacy school
class. He remarks that it is a very interesting and
informative guide on how to personally handle
finances–something we’re not always taught or know how to do.