A self-made millionaire who studied 1,200 wealthy people found they have a surprising perspective on higher education

Striking it rich is not all about sizable salaries and predicting the stock market - wealthy people think differently from the average person.

That's what Steve Siebold, self-made millionaire and author of "How Rich People Think," found after studying more than 1,200 of the world's wealthiest people over the past three decades.

He found something particularly interesting about their stance on higher education: it's not critical.

"Many world-class performers have little formal education, and have amassed their wealth through the acquisition and subsequent sale of specific knowledge," Siebold writes.

"Meanwhile, the masses are convinced that master's degrees and doctorates are the way to wealth, mostly because they are trapped in the linear line of thought that holds them back from higher levels of consciousness ... The wealthy aren't interested in the means, only the end."

While average people think the road to riches is paved with higher education, rich people believe in acquiring, and continually seeking out, specific knowledge.

Siebold isn't the first to preach this idea: 78 years ago, journalist Napoleon Hill wrote in his book, "Think and Grow Rich," that one key to attaining wealth is specialized knowledge and life-long learning.

"Successful men, in all callings, never stop acquiring specialized knowledge related to their major purpose, business, or profession," he wrote in his book, which was the culmination of 20 years of studying 500 self-made millionaires. "Those who are not successful usually make the mistake of believing that the knowledge-acquiring period ends when one finishes school."

It's no coincidence that many modern-day successful and wealthy people are voracious readers.

They appreciate the power of learning and challenging their minds long after college is over, Siebold explains: "Walk into a wealthy person's home and one of the first things you'll see is an extensive library of books they've used to educate themselves on how to become more successful."