/rant mode
I've met a lot of people who dropped out of Ph.D. programs and felt like a failure in life. Honestly, you don't need a Ph.D. to make a huge contribution to the world. Sure, it is nice to have but many people have sought out alternative ways to round out their education
Conversation
I know in my field (computer science) that things are constantly changing and although a Ph.D. does give you a strong fundamental background with emphasis on a specific field of study, you don't necessarily have to follow that path to be successful in your life.