Final answer:
The statement is false because retained earnings in a business context refers to the portion of net income not distributed to shareholders and reinvested in the company, not what you learn on a job. The accumulation of valuable skills and knowledge, often influenced by education and training, is essential for advancing one's career and can impact income.
Step-by-step explanation:
The statement "Retained earnings in your career refers to what you learn on a job which you can use to build your career" is false. Retained earnings in the context of business refers to the accumulated portion of net income that is not distributed to shareholders and is reinvested in the company. However, the concept of retaining knowledge and skills from one job to enhance future career opportunities is akin to the idea of career capital, which involves accumulating valuable competencies that contribute to a person's employability.
Education and employment are closely intertwined. The income one can earn from their labor is greatly influenced by their education level and additional training or skills acquired. Employers expect a certain level of performance, which often correlates with the education and experience an individual brings to the job, and this in turn can affect the compensation and benefits tied to the role.
Following the rules of completing additional education and training after high school and starting to save money early are recommended strategies for accumulating financial wealth and enhancing one's career prospects.