lunarfollies

You are right on the making money part i.e. if we possess the right skillsets and mindset early on etc, we should make as much money as we can as early as possible (succeeding at your own entreprenuerial start-up or as a full-time private trader). My 0.02 is that your friend is truly an outlier and it is the dream of most people (mine included) to trade full-time and be making big bucks (freedom from authority, no need to answer to anyone etc).
However, i guess most of us do not belong to the positive outlier category i.e. with great talent or connections, hence we tend to fall back on socially-defined paths to success/financial success (pursuing degrees, certifications such as CFA, post-graduate degrees such as MBA etc).
Though I just completed the L1 examinations, I didnt know what I have signed up for until I received the 6 textbooks and was totally blown away by the amount of material to cover. I also often question myself why did I get myself into this in the first place. Had I known the amount of work and the time and effort to write the exams, I wouldnt have started in the first place. (I’m just at L1, and still dont know if i can pass the exam and move on to the next level. Even if I manage to clear L1, it is still a long way to go). I remember a senior forumer mentioned in a post somewhere on the benefits of CFA as being less tangible - networking opportunities, gaining entry into an old boys/girls club, increased finance knowledge for personal use, sense of acheivement etc.
Somehow i guess if one thinks of the less tangible benefits, one could clearer see and ask oneself if it is worth the time and effort to complete the entire course. For myself, my country is paper-crazy (as with most Asian countries) and there are not as many charterholders (compared to other western countries where there are more). To motivate myself, I also tell myself to be circumspect when it comes to pure finance jobs (industry is shrinking, jobs are scarce etc)  and that CFA is a good qualification to have on the resume and for personal finance knowledge, even if i do not get a pure finance job in the end (im working in a related field but not as a finance ‘insider’ i.e. in portfolio mgt or IBanking).
Guess if you are holding a full-time job, you could spend some time learning how to trade in your free time while waiting for L3 results (thats what i am learning now etc). And looking on the bright side, you have almost completed your CFA journey and can start to meet new people in your CFA society and some hiring opportunities might just come your way.