Sometimes higher education doesn't mean success, but most of the times it means stability. Good example is the book millionaire next door, shows how all self-made millionaires invest in their children education and yet their children don't follow the same path.
I think that a higher education gives us the chance to easier switch jobs. It gives an indication to our future employer that we are willing to put in the hours and learn something. If we only want to work in one area and never switch that we don't really need a higher education. Only if its some top level jobs like becoming a doctor where the level of education is mandetory.