This happens a lot, but I have ample evidence that being born into wealth and being well educated is no guarantee of success. My brother and I both grew up in the ghetto. One of his best friends was the son of a wealthy dentist; that's how my brother gained the social skills to become a doctor. His friend, on the other hand, behaved like a rich spoiled brat and got into drugs. He wound up overdosing and dying at age 36; they found his body in his van 4 days later.
Someone I know in the Pacific Northwest inherited a house from a boyfriend; she sold it and blew the proceeds in a year, and now faces homelessness. Another friend is from the Deep South; she barely has a high school education, yet she saved her pennies and bought 4 houses for $3,500 each (yes, you read right). She is now retired at age 59; she lives in one house and rents out the other three, at over 100% annual profit. She acquired her business skills from her father, who only achieved a 3rd grade education.
I am in the middle. I don't have the social acumen to become a professional, but I save and invest as best I can. I had a falling out with the woman in the Pacific Northwest, who has the nerve to criticize what I do, including my attempts to write and market my books. While I have made a lot of bad decisions and mistakes, at least I attempt to learn from them and pass on that knowledge (at least I know not to blow $120,000!). I have come to the conclusion that wealth and education do not necessarily provide good sense, but if you come from a negative or impoverished background, you can rise above it.