I reckon you need to define first, what exactly you mean by formal education, as many people will interpret many different things. A college degree? Highschool? A standard education compared to homeschooling/alternative school concepts? In my opinion, you don’t need a degree, but education is always invaluable and if you decide to take it into your own hands, you need to be very considerate as humans tend to focus on what they’re good at and what they deem important. This may lead to a lot of blind spots though.