I am wondering this because I love electronics, but I go to a college which is mostly for vocational training. Often times I feel like our courses are 40% waste of time (usually too much industry software and/or uninterested lecturers giving compulsory classes).
So I had this idea of taking a year off to focus on my own projects as I did over last summer.
Since I am not sure a masters degree will teach me anything that a book can not, I was wondering whether I could do applied research at home permanently and potentially make money off of it? Right now I earn some money at home online via a site I own. Not much, but enough to get me by. I know how to read and I spend 10 hours in the library with ease (as I have been told this is how grad students work their way through projects). I mostly work on small-scale electronics, like currently an abbreviated type of joystick for paraplegics (that a paraplegic friend suggested). I work alone, at least at the moment.
Could I work on projects on my own and make a life out of this or should I try to join a good university for my masters? How are people without degrees regarded?