In life, there are very few investments you can make that really pay off and build a person’s wealth. The backbone of nearly every worker’s means of living is education, because if anyone could perform brain surgery it wouldn’t be in high demand. Because the brain surgeon lives in a world where very few people can do what he does, because of his intelligence medical knowledge and skill he gets paid more than a fireman. Both of them save lives, but one is specialized and the other can train the necessary skills to nearly anyone.
Investing potentially hundreds of thousands of dollars into your education means you will have a greater access to higher paying jobs. Ph.D. holders can teach, conduct research, or even work in the private sector if they please. There are many jobs that are restricted to only people holding doctoral degrees. Similar positions in these fields may be available to less educated people, but a stronger degree may be the competitive edge to get the job, or even a raise over masters degree holding co-workers. Doctoral degrees create the potential to earn more money over your entire lifetime than you ever thought.
Doctoral holders also have the satisfaction of being recognized by their peers and society as the masters of their chosen fields. Many of them have written thesis papers introducing novel, or even revolutionary ideas into the scholarly world. Doctoral holders command a certain respect for the amount of time and cost of their decision to pursue higher education. They are the grasshoppers, who kept storing away skills and knowledge while everyone else entered the working world.
But what if you don’t think you can afford to stay in school that long? You can be a teachers aide for extra money, join an ROTC program if you wanted to pursue a career in the military, publish articles or research, and if all else fails you can look to student loans, financial aide, or scholarships to make up the difference. The real question is what are you willing to do now to get what you want later. If you can find a way to raise the money, I strongly consider you make this investment in your life: because thats where you’re risking your money, your own life.