To answer your question, I arrived in Australia in 1971 aged thirty with effectively no money, but I had a B'Com degree and most of an MBA degree (I had to submit a technical paper to complete the requirement to graduate). I self-funded both degrees. Having an above average education of a commercial nature caused me to earn an above average income, and having scrimped so much to fund that education (including my living costs for four years while a full-time university student), I never learned how to spend money, so in time my wealth increased - very slowly at first, because my wife managed to keep herself out of the paid workforce by producing offspring.
When the family started leaving the nest, my income was at its highest level, so the last fifteen years of my working life added significantly to my financial position. Also, I did not need the family home later, so that was sold and funds invested in ASX-listed stocks. After a wobbly stock-investing start in 2007, when I was sixty five, things improved as I developed an investing style to suit my personality. My net wealth declined 45% during the GFC, partly due to the GFC, and partly due to investing inexperience. Things improved, and I have since recovered those losses, plus as much again. I wish I had started investing earlier.
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